From what I see the biggest issue around social media marketing is that too many marketers are over promising and can’t prove ROI. After they allocate resources they then spend a lot of time and money trying to show management why social media marketing is essential for their brand but they often try and convince people who want to know what social media is doing for the bottom line. Rather than over promising here are, I believe, some ground rules to justify social media marketing for your brand.
What are the key lessons that are continually being reinforced via new stories on the Web ? Well first we are seeing the shine come off the social media hype train as marketers look at new digital platforms and geting back to basics like ensuring their products are promoted at retail. It seems that a lot of brands believed social media was THE answer to their problems but in reality it’s another piece of the puzzle for a great integrated marketing strategy. Here are 10 things that every marketer should know by now…
There has been quite a discussion going on over at LinkedIn on my post about social media marketing. While most marketers know that they have to have social media the issue seems to be how much to invest in social media in relation to the bottom line. It’s especially hard to justify a full-time position to be a social media community manager since the line back to ROI is jagged at best.
In a renewed effort to lure a bigger share of the advertising dollars that now flow to major TV networks, Google’s YouTube is making a number of concessions long sought by marketers, ad executives say and the headline reads ” Facebook Exec Snarkily Confirms Brands’ Big Fear: Their Content Isn’t Important“. So what’s going on here? A little something called accountability, which most social media “experts” have been able to dodge.
POST SUMMARY: “Measuring online advertising today is like trying to boil a swimming pool with a Bunsen burner.” A Facebook executive said “We’ll look at cookie-based measurement in two years the same way we look at a tricked-out 1992 Dell today — antiquated and inefficient. Alternatives to cookies such as device IDs and stable IDs will be the way that marketers measure campaigns. This is the future of measurement, especially in today’s mobile world.” Is he right?
POST SUMMARY: According to Ogilvy “organic reach of the content brands publish in Facebook is destined to hit zero. It’s only a matter of time.” Forrester says in a new blog post, a recent change Facebook made to reduce the “organic reach” of advertisers’ posts — the percentage of their fans who see them — makes advertising on the social network no longer worth it: Is there any doubt now that Facebook has abandoned social marketing, and that its paid ad products aren’t delivering results for most marketers?
POST SUMMARY: A recent article suggested that marketers are moving away from social media ROI because “they’ve realized that social media isn’t a transactional engine or sales machine.” I would counter that the reason many marketers are moving away from social media is that they are frustrated trying to measure ROI and don’t have the depth in web analytics to really determine if their investment in social media marketing is really warranted.