Tag Archives: Marketing

Social Media, measuring the intangible

As part of the many projects I am running, we’re revising the Social Media strategy and the journey so far had been fun. Part of the challenge with Social Media is measuring what exactly do you get out of it, and how do you measure it?

Mashable did a study where  84% of Social Media Programms don’t measure ROI  in addition, more than 40% of respondents said they didn’t even know whether they could track ROI from their social tools. Not really surprising, in most cases “fluffy” Marketing finds it difficult to quantify any marketing activities. My gripe with Marketing and the way it’s taught is that it doesn’t encourage logical alignment between the hard bottom line and activities such as Social Media. The sense with Social Media is that, “it’s cool, we have to do it, because everyone else is doing it”, without identifying any type of goals. No point in trying to make any attempts to show that it works, if you have no idea what it can do. Even worse, trying to tie it directly to sales and by doing this missing a number of steps altogether.

Looking around, a few presentations rocked my boat like the one from Olivier Blanchard’s of The BrandBuilderMarketing:

Yes the phrase Social Media ROI is incredibly misleading. Social Media needs a measure, but it should not be tied into direct financial impact. Blanchard’s Power Point refer to it as “Non Financial Impact”, leading to more impressions, web visits, click through resulting in more qualified leads resulting in sales. So indirectly it will lead to more sales down the track, assuming the model of any sales cycle starts is a funnel. The more leads fed into the top of the funnel, the number of sales resulting at the end of the funnel will be bigger than when less leads were fed into the funnel.

For me, the challenge is to be able to build metrics for what before looks like compared to now.  As Blanchard points out, Social Media is not free, supplying interesting tidbits on an ongoing basis without any real plan or goals is frivolous.

Step 1.2 for us is to claim back all Social Media channel, continue posting, but with the idea of building ongoing social media presence as well as create traffic back to our site.

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First post and companies to tweet to

Beware gap when boarding

Beware gap when boarding

Social media by using twitter or facebook are pretty much part and parcel of the digitally connected these days. When I wake up in the morning I’ll check my email, then my facebook, scroll through my tweeting friends and then carry on with whatever I need to do for the rest of the day.

It always fascinates me to find out how corporates are using these media. In a number of cases some industries are better suited and are comfortable with using whatever new media is at hand. I am rather in awe of how the publishing industry are taking to it like duck to water or in Penguin Australia‘s case like penguin to virtual water. With their twitter account being manned by real people and their facebook page being used as an extension of their website, it just makes so much sense! Wired magazine is also another example of how doing it well is all about being able to utilise new media in a way that is relevant and makes sense.

On the other end of the scale, engagement using various forms of social media range from the tragic to the non existent. Take twitter for example, aside from Dell who managed to find a way to use it to make money through referral, most companies are still scratching their head. At its most basic a twitter account is usually used as an RSS feed, think ABC News , advertise events ADMA events, or exists just because everyone else has one.

Wandering around the web I randomly searched for companies I would like to follow. Cityrail was noticeably absent, the same with RTA as well as Australia Post. To my amusement someone has create unofficial twitter accounts fro Cityrail, RTA as well Red Cross by grabbing their RSS feed and streaming it through the unofficial twitter accounts. The fact that an external source, unpaid is willing to do some of the group for an obvious need by the public is mind blowing, particularly as to date none of these organisations have done anything about embracing these new media.

It also surprised me that organisations that have twitter accounts are not using it to their advantage, or including as part of their official online presence. Take ADMA events for example, there is no indication on their website at all that they even have a twitter account! It seems like such a waste of opportunity to use direct marketing for a Direct Marketing body.

I’m curious to hear whether anyone have similar lists of organisations that are missing from the twittering mass.

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