Marketers were sold the Brooklyn Bridge

It’s hard to believe that so many pseudo social media experts are still out there spreading bullshit like water.  Any marketer that believes that social media marketing is still relevant needs to go back to school.  

OK.. brands need to be on social media, but not for marketing purposes, rather they need to be there to listen and to give consumers a platform to “talk back to brands”.  However, if you think that social media marketing is more effective than you need to read these facts:

-Facebook admitted it messed up more ad metrics than previously thought, potentially eroding its trust and relationship with marketers and publishers. The social network said in a blog post it miscalculated the number of completed video views, the total organic reach for business Pages and the amount of time spent with Instant Articles.

-A study by the American Marketing Association showed that over 88% of marketing executives reported no tangible results from social media marketing.

-Duke University’s Fuqua School of Business, the American Marketing Association, and Deloitte reported that “only 11.5% of Marketers Can Prove the Quantitative Impact of Social Media.”

[inlinetweet prefix=”” tweeter=”” suffix=””]There is a difference between social media and social media marketing[/inlinetweet]. Social media has been a huge worldwide phenomenon. Social media marketing has been a worldwide flop.  Despite the billions of dollars wasted by brands, nobody has ever “joined the conversation” about a brand.

Facebook’s amazing success is due to the fact that a few years ago, they quietly gave up on social media marketing. They are now a website that makes virtually all its money by selling traditional paid advertising.

The Harvard Business review said it best “Marketers originally thought that Facebook, YouTube, and Twitter would let them bypass mainstream media and connect directly with customers. Hoping to attract huge audiences to their brands, they spent billions producing their own creative content. But consumers never showed up. In fact, social media seems to have made brands less significant.”

 

About richmeyer

Rich is a passionate marketer who is able to quickly understand what turns a prospect into a customer. He challenges the status quo and always asks "what can we do better"? He knows how to take analytics and turn them into opportunities and he is a great communicator.

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