There are social media metrics, comprehensive reporting programs from Facebook Insights to Google Analytics, and lots of engagement on the networks, but there is only one real way to tell if you are making money.
After the results of a Chief Marketer 2012 Social Marketing Survey was released recently, this Chief Marketing Officer took on the single biggest obstacle that marketers were up in arms about: judging the ROI (return on investment) for social media.
How do we unlock the magic that reveals clear and telling ROI in the green?
You have to go back to traditional marketing and sales methods. The one rule to rule them all is this: do not market on social media networks without having a tangible way to track sales leads and conversions.
Yes, this can be hard for the small business owner that does not have the money to purchase and monitor dozens of 800 phone numbers and call centers. But consider this: as long as you have a cell phone or more than one phone line, you can at least use a Google Voice account [video below] to make a unique phone number for free and link it to one of your lines and track when this unique # is used for a social media exclusive marketing campaign.
If every phone number on your Facebook ads, pages, and posts goes back to a number you do not use for anything else, then you can see exactly how many people called about your services or products from Facebook.
If you only want to see the benefits of your entire online platform, then put the unique phone number on the web site, the LinkedIn account page, the Twitter page, and anywhere else you market digitally.
Another way to track closely your ROI for social media networks is to use coupons and giveaways (there are a number of free ones out there) that are exclusive to each place that you put it. Look and see who loves the 15% off and if they got an email coupon, or a Pinterest coupon.
In this CMO’s opinion you should not be spending time and money (and time is money) marketing in social networks if there is not a tangible way to discern how much profit the digital networks generated.
By R.J. Huneke
by R.J. Huneke
J.J. Abrams has brought true genius in the form of his second film in the Star Trek saga, and Star Trek: Into Darkness leaves the audience reeling with an entertaining and powerfully emotional experience.
The original Star Trek movie series had to follow in the steps of an innovative and boundary pushing 1960’s TV show that had become a cult classic and legend, and when that first flick hit theaters there was a lot of disappointment from a fan base that expected more than a reintroduction and reestablishing of the characters and what has been dubbed a cool looking and fun “sightseeing tour” of a movie. It was a success but did not offer much of the groundbreaking that went on time and again in the Star Trek TV series.
Then came Star Trek II: The Wrath of Khan, and the obscure and wonderfully ruthless, strong, and cruel Khan was the perfect foil for Captain Kirk and company. The gritty movie showed suspense, terror, and a maniac as an edgy villain that propelled its box office breakthroughs into the stratosphere. The characters had flaws, depth, and growth, and they were tested repeatedly in an all too dangerous bout.
READ THE REST OF THE ARTICLE ON RUNE WORKS HERE
What started out solely as a means of shameless self-promotion quickly turned into marketing, and one of the first lessons that this author came to learn was the power of being able to cross promote over numerous platforms seamlessly online.
You do not have to do be a digital media genius (though that helps too) to succeed in promoting your self or your business. What you really need to dedicate is time, energy, and an idea.
Now hold on for a second and let me explain before you tell me to stick social media and blogging where the sun does not dare to shine, because being a business owner does not allow for much in the way of expendable time, energy, or ideas; I know from experience that running a business exhausts time and energy.
But having a burgeoning business of any kind almost always certainly starts with an idea. How do you utilize your idea to make sales conversions? How do you expand upon the idea?
What cross promotion is really all about is coming up with a solid, interesting, or advantageous idea that will benefit the consumer and then getting that message out there in the world, or the marketplace if you will.
This idea can be as simple as the reason your product is better than all others, or why it is different and interesting. Use the ideas that are already associated with your market and write a rant about them in a blog. Great promotion starts with a blog online, because the keywords in the written article (words relevant to the topic) register in the global search engines, the Google’s and the Bing’s, and people can then find your location, your idea, your product when they look for something loosely related to it on the vastly intricate world-wide web of the Internet.
Are you already on Facebook for personal use? If not, get there, but make a business page to be another soapbox for your professional idea/business/product. Copy and paste a link to each blog in that Facebook box that asks you to “post” and then open up a Twitter account. Do not even worry about what you are doing on there or the fact that you do not want to spend time on there. Just post the title and link to your blog there as well.
Talk about the Twitter page and web site blog on Facebook; then do the same with Facebook and the blog on Twitter. Cross promoting your business ideas will resonate online and help people, interested consumers, find what you have to share with them.
By R.J. Huneke
As SINC Sites are public computing labs with software tools, a knowledge base if you will, the SYNC Blog is a public house of educational information providing intrinsic insight into tech, media, and business.