Are brands becoming disillusioned with social media and should they even measure their social media marketing? That depends who you ask. Some social media and inbound marketing companies are still promoting the hell out of social media and in so doing so they are overpromising results. However, smart marketers understand that social media is an essential part of an integrated marketing program.
As Adweek reports “Facebook wants brands to know their data is safe. The social network has been on a charm offensive of sorts to assure advertisers that when they share information to buy ads on Facebook, that data is not seen by anyone else.” But the data brands have on their customers is a valuable asset and when shared you should take for granted that it’s out in the open. So should you share data with Facebook?
It seems that every social media expert is evaluating social media marketing, especially on facebook. While social media marketing is currently “old news” to a lot of brands there are still a big percentage who are trying to determine just how much time and budget dollars should be allocated to this channel. However, remember that social media marketing is not easy and in all likelihood you’re not going to get it right the first or even second time. At its core social media marketing is new approach to marketing “customer centric” instead of organization centric. It doesn’t mean marketers need to give up control of their marketing it just means that one marketing message is not going to resonate with everyone out there and that you need to fight for every customer and listen to what they have to say.
The Influence Marketing Group recently posted an article entitled “Why Brands Should Stop Idolizing Oreo’s Social Media Strategy”. One of their key points is that “consumers are longing for permanence. In a fast paced world where pithy 140 character observations are almost instantly forgotten or even ignored in the first place, consumers don’t want more disappearing content.” I would argue that in todays information overload world consumers don’t have the time to remember your social media marketing and that social media is needed to keep the momentum of your marketing moving forward.
Social media is taking up a bigger portion of marketing budgets, but few companies said they have been able to quantitatively measure its impact. Despite the increasing investment in social media, it’s still difficult for marketers to quantify their return on investment. Only 15% of marketers in the study said they can show the impact of social media on their businesses using quantitative approaches, while 40% of marketers can only demonstrate the impact qualitatively. Nearly half of marketers said they haven’t been able to demonstrate the impact of social media spending on their business at all.