Posts Tagged social media roi
Social Media ROI has been a topic which haunts marketers big and small. We decided to take this topic head-on and share experiences and perspectives from what we have learnt and implemented so far. 20 members showed up for the breakfast meeting, which this time we had at Cafe Coffee Day, the Starbucks of India (comparison only in number of stores, not service). The topic demanded more case studies for perhaps a deeper look into the Social Media ROI game, leaving us hungry for more discussion. And it turned out that Cafe Coffee Day failed to staff their outlet or stock their shelves for breakfast, leaving us hungry literally.
The dawn of Social Media ROI
Over the course of time, from Newspapers, TV, Radio and Now Internet, marketers & advertisers have loved to track customer actions on their campaigns or advertisements. The internet era gave us the deluge of options to track every user behavior in our campaigns and ads. However the game changed when Social Media landed at the party. Suddenly more than just direct action, influences had to be tracked. The channels of communication increased dramatically with activities distributed for managing and catering to those channels. The measurement of ROI on Social Media remains a challenge. The measurement tools are still evolving and a standard practice still needs to be universally accepted. However, Social Media campaigns should not be considered a destination but a vehicle on which the initiatives roll out with timely restructuring and re-looking into the campaign output. An important note made by Mani Singh – There are 2 aspects to the whole matter. ROI is as important as the objective of the Social Media campaign. For the short-term, ensure your objectives are met and over a long-term the ROI can be gradually equated and improved upon. We discussed specific case studies from the Travel domain, App based business and Content Driven websites. The end point of the discussion was not about the merits of Social Media Investment, but about how to track it. How to track all the activities and user actions remains a challenge and an exciting one at that.
Over the Watercooler
What kept us talking afterwards were the impressive views the KONY 2012 video is gathering, 80 million views just in a few days. And in other news – acquisition of Posterous by Twitter, what would happen to your current blogs? WordPress it seems has become the flavour of the month yet again, seeing huge numbers in blog migrations from Posterous. Twitter is known to kill the companies it acquires and retain the talent and technology. It would be sad to see Posterous go, unless the Yodas at Twitter have a sinister plan for world dominance with a whole new feature set. That we’d have to wait and watch.
Why Facebook marketing is uphill and against the wind; and how Google+ could make ROI better [81st Social Media Breakfast]
What is Faceboogle Now?
It’s what happens when everyone gets into a Facebook vs Google debate. And that was the scene at the 81st Social Media Breakfast. The topic today was about comparing features of Facebook pages vs Google Plus business pages, but it took an insightful detour into the hot topic of Social Media ROI. It was wonderful to listen to different experiences in running Facebook campaigns and observations about Google plus. Google plus is new, its exciting for businesses, specially with Google’s Search weight thrown behind it. When Google bakes search and social together, ROI on social starts getting linked with Search revenue and that’s the sweet spot isn’t it.
It was evident from the show of hands that not everyone is active on Google plus, even though everyone has an account and were first to get it. As Sharad Poddar mentioned, its the resistance to change for any new technology or platform, and as user’s perception changes, so will the usage patterns. For example the common perception of Facebook usage is different from LinkedIn usage, I guess coz on LinkedIn profiles pics, everyone is wearing a tie and we all know how you can’t party with a tie on!
Why Facebook Marketing is Uphill and Against the Wind
One question which started the whole Facebook vs Google+ debate was about the direct benefit any business can get from Facebook Page marketing. Even though having a community, a fan base is an awesome thing for a business, but direct measurable benefit is a tall order. As Mani Singh calls ‘Post Blindness’ when your post gets lost in the chaos. If it didn’t get any likes or comments or ‘Edge’ as facebook calls it, then by the famous ‘EdgeRank’ system, your posts get lost anyway. I always think of ‘EdgeRank’ in this way: Imagine all the posts are like helium balloons , the higher up they go, the harder it to see them, with every like or comment, balloon gets weight attached to it and it keeps it visible, the posts with more weight (edges) get more visibility. Not sure if the analogy was accurate, but I guess you get it. To get that traction on every post takes a lot of work and creativity and Facebook Insights is something which needs to improve, compared to what Google Analytics does for websites, we need powerful analytics for pages.
How Google Plus could make ROI better
The first direct benefit of Google Plus pages is faster indexing of your pages for Google Search. The Return on Search is well worked out over the last few years, with Google Plus Social gets baked into search. We’re still watching Google+ features evolve, with ‘Add to Circles’ showing up in search results next to your website. The amount of effort you invest in building up a Facebook Fan page, if spent on Google plus will show you results in Search as well, thats what makes the ROI a sweet possibility with Google plus. And offcourse with industry leading analytics tool, Google plus had the advantage of great analytics coming soon.
Other points in discussion
Other points in the discussion worth mentioning are about keeping your business closely guarded from your competition, or working with business secrets and keeping competition away. As Mani rightly pointed, the emerging business ecosystem is about transparency and new challenges, its survival of smartest all over again.
All in all an awesome way to start a Friday morning, a good breakfast, insightful discussions and a group full of energy. But this Faceboogle thing deserves more than one discussion, because change as they say happens faster online than offline.
Till next meetup
Meetup page with list of participants for today
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