Prove Social ROI To Your Company With High-Quality Monitoring and Smarter Campaigns
This event took place at Social Media Week in New York. You can get the SMW Insider Digital Subscription to access the full video of this event and 60+ other #SMWNYC sessions.
One of the longstanding challenges for social media managers, and digital professionals at brands, agencies, publishers, and startups, is showing the true value of social media, and how it provides tangible ROI.
Matthew Zito, VP of Product at Synthesio, started off his presentation in a powerful way, making his topic personal to the audience. He asked who had a direct responsibility for their company’s social media marketing efforts, and following that, if we thought the other people in our company understood what it is we do.
Matt identified that we were not alone in our struggles to prove validity and ROI from social media efforts using a statistic that said, “53% of social media managers don’t measure their success.” To sum it up perfectly, Matt said, “One can’t manage what they can’t measure.”
Matt implores us to take advantage of the vastness of online platforms out there, where people are talking, “Not just the Facebooks and Twitters of the world.”
Social and digital media marketers are constantly challenged to make decisions about the data that’s accessible to us, both owned and public.
Pushing us to go beyond the standard metrics and data points in order to truly understand the insights, and how they can be digested from looking at conversations happening in real-time, or in the past, across the web. In fact, you can listen carefully and even predict a conversation before it happens.
He reminds us that social media is the only marketing channel that allows brands to engage in a two way conversation with consumers. Matt encourages us not to waste the opportunity. Instead, take the time and effort to understand who your customer is, and where they are in these online conversations.
Market to the right people by understanding your existing audience, use them as a model to understand what your target consumer wants, and ultimately, identify how you can give that value directly to them.
Matt gave the audience another reminder of a simple, yet fundamental, marketing tool they should be using: the customer journey. By aligning the social data you have from the customer journeys you recognize among your community, you can be greatly helpful to them. Make sure to analyze the data, and from there build deeper understandings and insights off of your consumers.
Key Performance Indicators (KPIs) should be business facing, and should underline the essential business goals for your brand. Matt delivered some sound advice, “Figure out what metric, for you, maps most effectively to that business goal at hand.”
The aforementioned is the more difficult part of measuring success for a Social Media Manager, which is why Matt gave us some helpful conversions you can use.
- Reach —-> Awareness
- Growth of Fans -—> Acquisition
- Conversion through buying cycle -—> Activation
- Social Reputation -—> Satisfaction
It’s crucial to figure out ways to get the data in front of other people in the company. Pass along the information you discover, collect, and organize to other departments that gives them information on how it relates to the business’ goals.
The power of information we have access to on social channels and the web can be the keys to success, when harnessed correctly. Presenting and visualizing the data in a meaningful manner, one that matters to the key stakeholders in your specific company, can make all the difference.
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