Posts Tagged ‘ROI’

The Bottom Line

Posted in Focus Roundtable Discussions, Focus.com, Social CRM, Social Media Metrics, Social Media ROI, Strategy and Analysis by Chris Selland on January 16th, 2012
 

Our friend Heidi Tobias at Constant Contact shared some interesting statistics earlier today:

Not long afterward, we came across this terrific blog post and video from Brian Solis:

Yet despite the increasingly obvious positive (and negative) impacts that ‘Social’ is having on our businesses, we continue to hear many claiming that the impact of Social ‘can’t be measured’.

Wrong.

It may not be easy, but it’s increasingly necessary. There simply isn’t an option to ignore it anymore.

Quoting Brian:

What the social media gurus aren’t telling you is that the landscape for business isn’t changing because of social media, it’s changing because consumer expectations are evolving.

Your customers are empowered through technology where social media becomes only part of the disruption.

Your job in 2012 is to not embrace new technology with arms wide open, but instead understand it and learn which disruptive technologies separate you from existing and potential customers.

Exactly right.

Our Focus Social CMO Roundtable on Wednesday will be specifically focused on the metrics being used by leading CMO’s to measure – and manage – their Social initiatives in light of the tremendous changes we are all facing. There’s already an online discussion going around this topic – which will be continued live.

I hope you can join us – and hope that you are able to respond to the ’seminal changes’ we are all facing in 2012 in a positive, constructive, and measured manner.

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Posted in Focus Roundtable Discussions, Focus.com, Social CRM, Social Media Metrics, Social Media ROI, Strategy and Analysis | View Comments

Terametric Friday: Top Stories in Social Media

Posted in Social Media Analytics, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI by Kim Cole on September 2nd, 2011
 

Welcome to Friday, September 2, 2011, edition of “Top Stories in Social Media ROI.” This is Terametric’s series where we keep you updated on the critical evolution of marketing Return on Investment in the Social Media Channel. Our top stories for today feature analytics, Twitter and measuring ROI:

Why Twitter can provide a better ROI than Facebook

According to Compete: Twitter is more effective at driving purchase activity than Facebook. 56% of those who follow a brand on Twitter indicated they are “more likely” to make a purchase of that brand’s products compared to a 47% lift for those who “Like” a brand on Facebook. This is further evidence that marketers can drive ROI with Twitter by engaging followers through compelling content.  So for all you marketers who have been ignoring Twitter and going with Facebook because of numbers you maybe missing a great opportunity to increase the ROI of your social media.

33% of B2B Marketers Don’t Measure Marketing ROI [Data]

Eek! Did you read that title? Um…there’s something wrong with this picture. To put it bluntly, if you’re a marketer and you’re not reporting your return on investment to your company’s executives, then you have a problem. 

Using Analytics as the Backbone of Social Media Marketing Campaigns, Convertiv Drives Results

Marketers stand at a pivotal point in their understanding of integrated social/mobile marketing strategies. It’s no longer a questions of what and why, but more of how to implement a successful strategy.

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Posted in Social Media Analytics, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI | View Comments

Calculating Social Media ROI

Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI by Kim Cole on August 24th, 2011
 

 

As we all know, social media is the latest Internet phenomenon. And social media marketing is the latest twist on the age-old pursuit of gaining more customers and market share, driven by perhaps one of the most ancient of all desires to be the best! (OK I really meant greed but that seemed a little too harsh.)

Social media is even being offered at college campuses around the US.  In fact the Boston Business Journal reported today on a top-ten list of colleges for social media savvy.

One aspect of being social media savvy is knowing how to measure your progress and understand your return on investment (ROI).  The Internet is the most measurable medium even invented, yet marketers and business leaders continue to complain the calculating their ROI is difficult or impossible. 

Please join us for a free webinar for Calculating Social Media ROI with Paul Gillin. In this presentation, Paul Gillin – author of ‘The New Influencers’, ‘Secrets of Social Media Marketing’ and his latest ‘Social Marketing to the Business Customer’ will offer a framework for measuring ROI using three simple criteria that can be applied to everything from Twitter to customer communities.

Additionally our own Chris Selland of Terametric will take us through examples of companies who today are applying these principles, and showcases real-world examples of how social marketing efforts are being measured to help companies pinpoint their ROI.

 Details of the webinar:

Date:  Thursday September 8, 2011

Time:  12:00 – 1:00 EDT

RSVP: Click Here to Join

Looking forward to a great event, hope you can make it!!  If you have any questions for our presenters, please post them in the comment section and we’ll be sure to get answers for you.

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Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI | View Comments

Terametric Friday: Top Stories in Social Media

Posted in Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI by Kim Cole on August 19th, 2011
 

Welcome to Friday, August 19, 2011, edition of “Top Stories in Social Media ROI.” This is Terametric’s series where we keep you updated on the critical evolution of marketing Return on Investment in the Social Media Channel. Our top stories for today feature an eclectic mix of social media marketing tips focusing on how using Twitter can positively influence your marketing ROI:

 

Measuring Social Influence

If you want to get a reaction from a public relations or social media pro, ask them about influence. You are sure to get answers from each end of the spectrum. Some will say influence is misconstrued as “popular.” Others believe that follower numbers measure influence.

Ford and Twitter Talk Keys to Marketing to Millennials

But when it comes to Twitter, millennials are over-indexing. Twitter’s director of sales marketing, Shane Steele, citing third-party research, said 55% of the Twitter audience is made up of millennials, compared to 40% of the rest of the internet. Ford has worked with Twitter to reach the social-media savvy set for years, having had a strong presence on Twitter since July 2008.

Twitter users are more likely to impact your brand than any other social network

Now, more than ever, is the time for brands and companies to begin understanding how the chaotic and real-time world of Twitter can massively influence the ways in which consumers perceive them.

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Posted in Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI | View Comments

Terametric Friday: Top Stories in Social Media

Posted in Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories by Kim Cole on August 5th, 2011
 

Welcome to Friday, August 5, 2011, edition of “Top Stories in Social Media ROI.” This is Terametric’s series where we keep you updated on the critical evolution of marketing Return on Investment in the Social Media Channel. Our top stories for today feature social media measurement and brand awareness:

11 ways to measure the value of social media

We hear that “data is the new oil” and maybe so, but just like crude oil, data needs to be refined to maximise its value. It needs to be processed into actionable insight. Online and mobile activities generate vast amounts of data and there are no shortage of tools and technology available to analyse it. But the reality in many cases is “analysis paralysis”, little actual insight, or recommendations that can’t then be acted upon owing to a lack of relevant resources.

Brands Now Direct Their Followers to Social Media

MARKETERS promoting their products online have followed a fairly standard arc historically, first buying digital ads and building their own Web sites in the early years of the Internet, and more recently amassing followers on social networks like Facebook and Twitter.

13 Truths About Social Media Measurement

Measurement is a discipline, and it needs to be business-wide. If you’re going to ask about the ROI, value, or impact of social media and how to measure it, I’m going to ask how you’re going about determining those things for other areas of your business, and ask you to translate or adapt some of those practices over to social initiatives.

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Posted in Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories | View Comments

Begin at the End to Find ROI

Posted in Content Marketing, Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI by Kim Cole on August 1st, 2011
 

 

Dorothy had it right on her journey to Oz, by starting at the beginning of the yellow brick road.  But we’re not in Kansas any more are we?  What does where you start have to do with social media anyway?  Read on to find my take on where to start with social media advertising.

According to some recent research discussed by eMarketer, it seems that advertisers are utilizing social media successfully, now more so than ever.  About half of those surveyed currently using SM advertising are satisfied with their results.

 

The May 2011 research from The Pivot Conference and Brian Solis found that two-thirds of marketers surveyed were already conducting social media advertising activities.  More than 90% have advertised on Facebook, and 78% have used Twitter to advertise. 

Most agreed that these efforts would prove very valuable, and 54% of those currently running ads were satisfied.  eMarketer estimates that Facebook and Twitter will make $2.19 billion and $140 million, respectively, in US revenues this year.  I totally respect eMarketer and I’m sure they’re right on with their estimates, which is great news for Facebook and Twitter.  But the question I have is, do the companies buying ads know whether or not they are getting a good return on their Social Media advertising dollar? 

In order to answer this question, a well-crafted campaign needs to be established.  And as with all good plans, (wait for it….) you should begin at the end, instead of the beginning.  You need to set your campaign goal first (increase web traffic, increase leads, more sales, increased customer satisfaction etc.) and then pick the metrics to measure that goal.  You need to decide how you will collect the data behind the metric as well.  There are many companies that can assist you with this, some free, some that charge fees, and all this should be taken into consideration when you finally calculate your ROI. 

So before you jump on the social media advertising bandwagon, begin at the end to make a good start.  For a great ROI checklist to help with your planning, click here. 

Good luck with your social media marketing and thanks for reading!

@KimberlyACole

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Posted in Content Marketing, Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI | View Comments

Terametric Friday: Top Stories in Social Media

Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI by Kim Cole on July 22nd, 2011
 

Welcome to Friday, July 22, 2011, edition of “Top Stories in Social Media ROI.” This is Terametric’s series where we keep you updated on the critical evolution of marketing Return on Investment in the Social Media Channel. Our top stories for today feature social media metrics and a bonus article about social meida marketing vs. traditional marketing:

 

Measure What Matters

More than once in recent weeks I’ve participated in (or overheard out of the corner-of-an-ear) discussions on how time-consuming social media has become, what the payoff might be, and when it might be realized. And I would certainly be surprised if many of you haven’t asked some version of these same questions of yourself or others.

What is Engagement in Social Media?

I’ve been working on an article on engagement in social media for a top marketing journal and I’ve been really struggling to get a handle on the topic — much more so than normal.

The ROI of Social Media

Unless you’ve been living under a rock for the past five years, you’ve no doubt at least heard of social medial sites like Facebook. Twitter, YouTube and LinkedIn.  Ten years ago, you had to have a listing in the Yellow Pages to be considered a legitimate business; five years ago, you had to have a website to be taken seriously; now, it is essential that you have a s social media presence if you want your business to survive and even thrive.

Bonus:

Social Media Or Traditional Marketing? It Depends.

One question I constantly get from CMOs and other marketing pros these days is “How much of my spend should I be shifting to social-media marketing?” I’ve read a ton of stuff lately about this topic and I’m happy to recommend an excellent thread on Quora entitled “How would you measure the ROI in social media?” To date, 42 contributors have supplied answers to the question, along with links to many great additional resources. But what’s perfectly clear is that the answer is more or less “It depends.” It depends on what your program objectives are…

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Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories, Twitter ROI | View Comments

Terametric Friday: Top Stories in Social Media ROI

Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories by Kim Cole on July 1st, 2011
 

Welcome to Friday, July 1, 2011, edition of “Top Stories in Social Media ROI.”  This is Terametric’s series where we keep you updated on the critical evolution of marketing Return on Investment in the Social Media Channel.  Our top stories for today feature social media metrics:

 

How Do You Measure Your Social Media ROI?

Surprisingly, more business are offering a quick marketing recipe these days: buy twitter followers and Facebook fans. In the era of social networks, where the word “social” is key and where companies have an incredible opportunity to listen to their audience and learn from what their clients have to say, there is still a shortcut for lazy marketers who just care aboout delivering numbers and not results.

The Seven Performance Metrics that Matter Most

In an era of constantly evolving technologies and platforms, companies need a bulletproof game plan for measuring their digital marketing programs. But standing in their way is a big challenge, according to Digital Impact: The Two Secrets to Online Marketing Success, a new book written by eMarketer CEO and co-founder Geoff Ramsey and Vipin Mayar, EVP of McCann Worldgroup.

Social media needs new model

NEW YORK: Brand owners that most effectively transform themselves into “social enterprises” stand to gain substantial benefits, a study has argued.

Research firm Gartner predicted the 20% of corporations using social media for more than just marketing will lead their industries in terms of revenue growth by 2015.

Currently, however, many attempts to leverage Web 2.0, like Facebook brand pages and building internal networks via platforms like Yammer, fall short.

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Posted in Social Media Analytics, Social Media Marketing, Social Media Metrics, Social Media ROI, Top Stories | View Comments

Are you Cooking the Social Media Books?

Posted in Optimizer for Twitter, Social Media Analytics, Social Media Marketing, Social Media Metrics, Twitter ROI by Kim Cole on June 28th, 2011
 

I read a great post today on socialnetconomy that talked about measuring social media ROI.   This topic is near and dear to us at Terametric.  This blog pointed out that increasing your Twitter Followers and Facebook Fans by purchasing them may boost your metrics today, but in the long run, you will dilute your true influence and damage your brand reputation.  The may be a quick way to “cook the Social Media Books” but what happens the next time you need to give a report to the CMO and your brand identity is suffering?

Personally, I don’t have many followers on Twitter yet, nor do I follow that many people.   But the followers I do have (and those that I follow) I have cultivated organically, and I know that the people are real, and are involved in social media.   My followers can count on me to deliver quality tweets revolving around social media measurement because that’s what Terametric is all about.  This is how you build your brand reputation and it takes time.  But it will pay dividends in the long run by ensuring that your voice can be trusted, and your community will be loyal.  And after all, that’s what we all strive for, loyal and happy customers.

You need to put in the time to develop relationships and develop a tangible and consistent brand that your community can rely on.  That way you will be able to trust the data that you gather when you’re calculating social media ROI.  You want to know what your customers are thinking or feeling about you, not random followers or fans.

I’d be interested in hearing how long it took you to build up your community to a “Critical mass” so leave us a comment below, and if you’d like to know more about, Optimizer for Twitter that will help you maximize your social media efforts by offering suggested followers and helping you focus you tweets based on real-time data click on the link.

Thanks for reading!

@KimberlyACole

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Posted in Optimizer for Twitter, Social Media Analytics, Social Media Marketing, Social Media Metrics, Twitter ROI | View Comments

Social Marketing & Credibility

Posted in Social CRM, Social Media Analytics, Social Media ROI, Twitter Marketing, Twitter ROI by Chris Selland on June 18th, 2011
 

Some interesting survey results were just published in this week’s Marketing Week:

  • Three-quarters (73%) of CEOs think marketers lack business credibility because they fail to quantify the success of their campaigns, according to a report.
  • CEOs feel marketers talk too much about brand values and brand equity as their parameters, rather than the results that “really matter”, which top management believe to be revenue, sales, EBIT and market valuation.
  • About 74% of CEOs also say marketers focus too much on the latest trends, such as social media, but can rarely demonstrate how these trends can help to generate more business for the company (ht to Craig Rosenberg & Trish Bertuzzi for the link).

Three quarters! That’s almost enough to make a marketer reconsider the value of Social Marketing, right?

Wrong.

Because the fundamental problem isn’t that the Social channel isn’t delivering value, the fundamental problem is that marketers are doing a very poor job demonstrating & quantifying that value.

The report says marketers are “bombarding” their stakeholders with marketing data that barely relates to the profit and loss of the company and focus too much on the “arty and fluffy” side of marketing and not enough on its business science.

I have spent my entire career working with many successful marketers and also quite a few unsuccessful ones – and as I’ve argued many times - here and elsewhere – that the key to success is simple – focus your efforts where the customers are. There is little doubt – regardless of your industry and business model – that social networks are increasingly where your customers are spending their time.

So then the real issue isn’t whether Social Marketing has value – it is demonstrating that value. Toward that goal, Terametric’s Twitter campaign optimization solution, OptimizerTM for Twitter, incorporates more than 80 specific metrics and is specifically designed to help marketers analyze past performance and predict which activities are the most effective.

Terametric’s goal is help marketers close that credibility gap – by providing those metrics that are missing – as well as advice and guidance as to how to specifically improve.

Optimizer for Twitter

If you’re interested in enhancing your ability to quantify and improve the value of Social Marketing, and in gaining the organizational and executive credibility that will come along with that, request a free trial today. We’d love to speak with you!

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Posted in Social CRM, Social Media Analytics, Social Media ROI, Twitter Marketing, Twitter ROI | View Comments