BTL Point of view – Social media marketing can create very positive ROI
ROI is always top of mind with marketers. In today’s current economic climate it is vital to the success of a brand. The effectiveness of traditional marketing has always been difficult to measure. Online and social media brand activity is now trackable at every point of the brand journey, which enables us to continually measure its effectiveness in fine detail.
This has had a big impact on the way we work. Up until quite recently a marketer would invest a considerable budget on a new campaign launch, cross their fingers and hope for the best. The only way to follow the campaign’s success would be via focus groups and cash through the till.
Now we can launch new integrated campaigns that can be easily monitored for effectiveness. If the campaign is doing well just let it carry on. If it needs improving, we identify the part of the campaign that needs a quick fix, do a quick repair, and then let it carry on. This is a much better approach that enables the brand campaigns to be more effective and profitable.
We suggest checking this interesting read on the topic
“Marketers are hopeful that this will be the year that they finally link social media marketing to ROI, a new survey says.
According to the report from Bazaarvoice, 74% of CMOs predict they will finally tie social efforts to hard ROI this year. The survey polled 175 CMOs from The CMO Club, including those from B2C and B2B companies in various industries.
In 2009, 84% of companies did not measure social media ROI — in 2011, that’s not an option. Business decisions are best made when they are based on hard numbers that measure success, and social media efforts are no longer an exception.
For the past few years, marketers have been content to measure “soft” metrics, such as the number of “Likes” or followers their brands have acquired. These numbers, though, are usually not indicators of an active community.
While those soft metrics still rank highly in importance, marketers are now turning to more traditional metrics that showcase true value. Site traffic tops the list as the most important factor for CMOs measuring social media ROI, as it did last year. In 2011, though, twice as many marketers plan on incorporating conversions — the total number of completed desired actions, such as “Likes” or click-throughs, divided by the total number of impressions — as compared to 2011.
When asked which social activities resulted in the highest ROI, survey respondents identified Facebook as their platform of choice…”
Marketers optimistic about finding social media ROI
By Erica Swallow
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