By now you have probably read the reports and data that indicate that organic reach within Facebook is almost non-existent and that Twitter is in trouble and has just replaced its CEO. At the same time social media “experts” are trying to save what little credibility they have left talking about Snapchat and Instagram. If your brand has ramped up social media marketing, then you are drinking the Kool-Aid.
Marketers are being held accountable for every dollar they spend and “brand building” without bottom line results is seen as a waste of money. Research reports have told a story and that story is that consumers don’t want to be interrupted while on social media even by the brands they follow. In addition, there is little correlation between liking a brand on social media and overall brand objectives.
The bottom line is that if you want to ensure your marketing remains relevant, then you need to put dollars where they do the most good (driving conversions) and move away from sift metrics. In working with clients I have gotten to a 300% better ROI through the realignment of marketing tactics (POP/FSI’s, shelf placement) than with social media.
Brands do need social media. Rather than using it to broadcast brands need social media to listen to prospects and customers. More importantly, brands need to respond to social media comments/questions in Internet time. That means having someone who can listen and be the authentic voice of your brand.
When it comes to your digital strategy the most important element that you can spend money on is your branded website. This means usability studies and ensuring that your site’s homepage doesn’t resemble a bulletin board with too many calls to action.
I was disheartened to read that marketers plan a 300% increase in social media marketing. They must be drinking the Kool-Aid by the gallon, but in the end they will have to admit that it tastes horrible.
2 Comments on “Social media: What is it good for?”
Rich, you are spot on.
I wholeheartedly agree. I have been advising clients of the pitfalls of Facebook for over a year. Facebook has essentially become the Yellow Pages of the 21st Century. If a business is not there, it is assumed not to exist. But organic search heard the death knell this spring. In terms of the now “required” Facebook ad spend, one must be prudent in one’s choices and preferably use that spend to direct prospects to a current and active website.
Twitter is still relevant, but for how long remains to be seen with the changes that are expected with a change of the guard.
The online focus must now be on local search listings.
With the popularity of on-the-road Smartphone searches for “—— near me,” one cannot dismiss the power of local listing search and Google.
I’m glad to see someone discussing the chicanery of superficially educated social media consultants. 2015 and esp 2016 will evidence a powerful shift in social media expectations. Pay attention to insights, folks!