So What’s the ROI of Social Media?
Taylor Clevelandon 17 May, 2017 at 01:05
Finding ROI to prove your social media can be tricky, especially when “85% of CMOs have not been able to show any impact, or only qualitative impact, from their social media investments.”
People are still on the fence about social media’s effectiveness, so being able to back up the initiatives with real data is crucial. In the latest Social On Us webinar, Jonathan Nguyen critically analyzes social media through an objective-based perspective to provide better insight when talking ROI. He also prepares us for the ‘Machine Era of marketing’ that is soon to be upon us in 2018.
“No longer is lumping social media into a bucket and giving it to a social media manager enough.” The line between customer service and brand has blurred, so understanding how social media affects a client’s entire business is crucial when providing ROI. In this session, Jonathan breaks social media down into three types of dialogues, each with different objectives:
- – Brand Value
- – Customer Value
- – Acquisition
We look at six key things companies should be doing when it comes to handling their social, and we are also provided with a diagram to help us distinguish the type of organization by how they perceive social media. Most importantly, we learn that social should not be complicated when talking to clients, they only want to see results and value.
Jonathan summarizes on the evolution from the ‘Platform Era’, to the ‘Relationship Era’ (current), explaining how successful brands like H&M and KLM use data science to prove their social worth. However, this data science is also fueling the effort into pushing every industry closer to the ‘Machine Era’, forcing all markets to keep up with “robots” and face workforce automation.
Check out the deck and and watch the full webinar below to get all the key insights and takeaways, such as: provide social ROI by utilizing metrics and science, client value will depend on team efficiency and the ability to keep up with machine learning technologies. Being keen to this evolution will help better position yourself and your team, truly exploiting the benefits of both human and machine.