Social media seems to have been with us for a long time. I recall 5 years ago when every new client would say, "We're going to build a community site." That was about the extent of social media. Facebook was probably only at 100 million users at that time.
Today everybody is talking about social media. It's the same rush in the 80's with desktop publishing, and web design in the 90's. Every one can and does "social" media. The larger companies are trying harder to justify their social budgets. Small companies are trying to figure out if they need a Facebook page (most of them think they do) and a Twitter account.
These two charts will help you set your course for next year as a business, as an ebusiness consultant, or an online marketing professional.
84% of businesses are going forward with their social programs. 10% think having a facebook page and twitter account and some interns tweeting is enough. And 6% of companies have the idea that "social" is failing as a business driver. Okay. Let's see what the problem is.
I can tell you from first-hand experience at Dell and a number of other businesses the Qualified Leads (35%) is always going to be the CFO's measure of social media results. The marketing buzzwords of "activity," "brand," and "sentiment" are not going to hold water in 2012 for most businesses.
If a LIKE on Facebook can be traced to a sale, BINGO, you've got results. IF "commerce" on facebook is part of your KPI (key performance indicator) you're in trouble.
Okay, Dell, Pepsi, and Starbucks can afford to do "branding" on social media. The accounting firm, or small franchise can't seem to connect the dots between social and revenue. And it's not going to get a lot easier in 2012. But it's the primary objective we much focus on.
If social does not equal revenue. Then social equals marketing expense, and without ROI, a waste of money.
How will you draw the direct results attributable to Facebook and Twitter? What tools will translate sentiment and "share of voice" to dollar values? Stay tuned and stay focused. And let's prepare now, to rock 2012.
@jmacofearth (also seen on Google+: jmacofearth) Do let me know if I can help.
permalink: http://uber.la/2011/12/social-media-ROI
Source: eMarketer 2012 Trends in Social Media Marketing
Check out the Social Media for Business page and these other posts about learning social media:
- Going for the One on Google Search is Just a "Phrase Match" Away (Own It!)
- How to Get Useful Business Information Out of Twitter: Hashtags for Social Media Research
- Social Marketing Strategy: Thinking Beyond the Page (VIDEO)
- Social Network Content Marketing Tactics: Using LinkedIN Groups (VIDEO)
- YouTube Video Marketing with Social Media: Reporting 3 Weeks of Results
- Google Analytics for Online Marketing in Less Than 2 Minute (VIDEO)
- How Can a Social Media Strategist Help Your Business? (VIDEO)
- Social Business Lead Generation in 75-seconds (VIDEO)
- Introduction to Social Media Marketing in 90-seconds (VIDEO)
Pingback: Taking A Deeper Look At The Linked Influence Program | Web Traffic Solutions for Network Marketing | TrafficCpanel.com
Pingback: John McElhenney
Pingback: John McElhenney
Pingback: John McElhenney
Pingback: John McElhenney
Pingback: Social Media ROI Demands for 2012: Must See Charts for Marketing | SEO, Search, Social | Scoop.it
Pingback: The 2011 Round Up and 2012 Trends to Watch in Social Media Marketing | uber.la
Pingback: The Problem with Twitter.com; Why Are Good Tweeters Dropping Like Flies & Not Flying Like Birds? | uber.la
Pingback: Work Life Balance and Survival; It's Up to You to Grab It | uber.la
Pingback: Texas Proud – This Has Nothing To Do With Social Media, But It Is Social #texas | uber.la
Pingback: The Twitter Bubble; Don't Let Your Number of Followers Fool You Into Feeling Influential | uber.la
Pingback: Mission Impossible 2011; MicroReview < Any more product placement and it'd be an ad | uber.la
Pingback: Facebook's Community Value is 5% of 5% or 0.25% < A Failure to Communicate | uber.la
Pingback: SEO: You Have to Know Your Search Engine to Understand How to Optimize – Content Marketing | uber.la
Pingback: Facebook's Failure as a Social Network: We're Not Connecting We're Lurking and Playing By Ourselves | uber.la
Pingback: John McElhenney
Pingback: Social Media ROI Demands for 2012: Must See Charts for Marketing | Social Media Smartypants | Scoop.it
Pingback: Social Media ROI Demands for 2012: Must See Charts for Marketing | Jugnoo market research insights | Scoop.it
Pingback: Social Media ROI Demands for 2012: Must See Charts for Marketing | Social Intelligence | Scoop.it
Pingback: Fewer Conversations and More Sales, Please: What Social Media Needs is a Swift Kick in the … | uber.la
Pingback: Two Critical Facebook for Business Questions: What's Your facebook Commerce IQ? | uber.la
Pingback: WordPress Tracking Alternatives to Google Analytics | uber.la
Pingback: The Most Important Social Technology – Going Global w/ Google Hangouts | uber.la
Pingback: John McElhenney
Pingback: John McElhenney
Pingback: John McElhenney
Pingback: Monday Morning Social Strategy: LinkedIn (15-seconds, 1-slide) | uber.la
Pingback: Twitter Porn, Twitter Spam, Twitter Bot Networks, Twitter Hacks – What I Think They're Doing | uber.la
Pingback: John McElhenney
Pingback: John McElhenney