It’s not ‘likes’, it's sales that count when measuring social ROI

It’s not ‘likes’, it's sales that count when measuring social ROI
SHARE
THIS



There remains much discussion about how to measure social ROI.

The question that demands the most attention, and gets asked most often, is the one about monetisation.

If we don’t answer that question, backed-up with measurable data, we end up having the same conversation with the CFO that we’ve always had, struggling to answer questions about the marketing investments we have made, and the sales we have delivered.

No longer should you make the mistake that measuring dumb volume, recording static snapshots of social media conversations and justifying the 'buzz' value are sufficient. This is a bit like measuring the volume of traffic of a particular brand of car over the Sydney Harbour Bridge. Fantastic that you’ve got the answer, but it begs the question, “so what?”.

What brand managers and organisations really need are the reasons behind the drivers’ decisions to choose one brand over another. More to the point, how do you find out whether each driver is happy with his or her choice? Who’s about to change? Who is about to buy? Who might change brands from you? To you?

The answer can be found when you connect the right post to the right person and track it within your customer database.

Of most interest to the marketing director, the sales director, the CFO and the managing director is knowing how many of these individuals are customers, prospects, or are at risk of switching.

So the answer to 'what’s next for social media?' needs to be, in broad terms, connecting the thousands of individuals active on the social web to the individual records in your customer base, about uncovering the hidden truths behind the conversations and then converting that intelligence into actionable insights which underscore your marketing strategy. (And knowing who to sell to, and marketing to them, seems a reasonable strategy to us.)

The answer is about finding (not just identifying) the people of interest to you on the social web (your customers or those you would like to know) and creating a profile for each individual.

The answer is about maintaining the links between the social web and your individual customers (thousands of them, we hope) so that the insights take on meaning and become actionable, all within the context of your broader marketing programs.

It’s about using these insights, and the social web, to create trigger-based leads based on your criteria, leads derived from the real and spontaneous comments made by these individuals on the social web.

And it’s about social media analytics that are again mapped to individuals, not as broad summaries or amalgamations, or even trends. After all, the trend that everyone has a problem with a particular brand will surely mask the handful of individuals who are nevertheless actually ready to buy today. The trend deserves attention but not at the expense of the individual and the sale.

The future of social media is in fact a move away from social media programs towards social powered marketing (social CRM), towards delivering a message, context and compelling proposition to the right person, at the right time, through the right channel, with a real, measurable ROI.

Must close, my CFO is knocking on my door.

Emma Lo Russo is CEO at Digivizer. 

Please login with linkedin to comment

Latest News

Kellogg’s Creates AR Halloween Trick Or Treat Experience Via Shazam & Orchard
  • Campaigns
  • Marketing
  • Technology

Kellogg’s Creates AR Halloween Trick Or Treat Experience Via Shazam & Orchard

Breakfast cereal manufacturer Kellogg’s has joined forces with Shazam and digital agency Orchard to deliver a first-of-its-kind augmented reality (AR) Halloween Trick or Treat experience for families. The campaign, which leverages Shazam’s visual recognition platform and recently-launched AR platform, sees Kellogg’s pilot the replacement of physical gifts in cereal packs with a digital experience that […]

Kraft Heinz Appoints Cummins&Partners As New Creative Agency
  • Advertising

Kraft Heinz Appoints Cummins&Partners As New Creative Agency

Kraft Heinz today confirmed the appointment of Cummins&Partners as its new Creative agency after an extensive pitch process. They will be responsible for brand strategy and integrated creative across the expanding Kraft Heinz portfolio including Kraft, Heinz and Golden Circle. A Kraft Heinz spokesperson said: “After an exhaustive search involving a competitive pitch, we have made […]

Patrick Delany (CEO, Fox Sports), Hugh Marks (CEO, Nine Entertainment Co), Miranda Devine (Columnist, News Corp), Michael Miller (Executive Chairman, News Corp Australasia), Grant Blackley (CEO & Managing Director, Southern Cross Austereo) at Radio Alive 2017
  • Media

Media Bosses Weigh In On Ten-CBS Deal

Do you enjoy articles featuring industry big-wigs? Well, it doesn't come much bigger and wiggier than this, we say.

by B&T Magazine

B&T Magazine
Kantar TNS’ Ali Dexter Joins T Garage As Director Of Insights & Strategy
  • Marketing

Kantar TNS’ Ali Dexter Joins T Garage As Director Of Insights & Strategy

Melbourne-based market research consulting agency T Garage has announced the appointment of Ali Dexter as its director of insights and strategy. Dexter joins T Garage from Kantar TNS, where she was the director of its Qualitative division. Prior to that, Dexter held a number of senior roles at Kantar TNS in the US and Vietnam.  “After […]

XXXX on Tuesday, March 21, 2017, in Las Vegas. (Jeff Bottari/AP Images for Adobe)
  • Advertising

Adobe Releases Advertising Cloud App

Not one, but two Adobe announcements. The tech elves have been busy this week, not that we're inferring Adobe is Santa.

Facebook Updates Its VR Offering
  • Technology

Facebook Updates Its VR Offering

Do you loathe Facebook for nicking all the ad cash? Well, why not scream "A pox upon you Zuckerberg" while reading this.

InterContinental Perth City Centre Chooses Bonfire To Build Digital Strategy
  • Marketing

InterContinental Perth City Centre Chooses Bonfire To Build Digital Strategy

Luxury hotel InterContinental Perth City Centre is officially set to open this Sunday, and has already taken strides towards developing a comprehensive online search strategy with digital agency Bonfire. The investment reinforces the desire of the hotel to promote its luxury business facilities, which include corporate and bespoke event spaces designed for local, national and […]

Datalabs Announces New Hire And Promotion
  • Marketing

Datalabs Announces New Hire And Promotion

Aussie data visualisation and content marketing analytics agency Datalabs has announced the appointment of Marc de Chellis to run its business development, as well as the promotion of Cass Lilley to accounts and project manager. De Chellis (pictured above, second from the left) joins Datalabs from Launchpad App Development, where he held the role of […]

OLYMPUS DIGITAL CAMERA
  • Advertising

Inskin Grows Sydney Team With New Designer

Digital advertising provider Inskin, continues to expand its Sydney team, hiring Marc Gundesen as a junior digital designer. Gundesen (pictured above) brings a breadth of skills in web design, animation and account management, and will report to Inskin’s lead designer, Jay McCalla. He joins Inskin from Budgy Smuggler, where he worked as a graphic designer, […]

Agent99 PR Signs Finance Industry Thought Leader Vanessa Stoykov For TV Show Launch
  • Marketing

Agent99 PR Signs Finance Industry Thought Leader Vanessa Stoykov For TV Show Launch

Independent communications agency Agent99 Public Relations has welcomed respected founder of No More Practice Education and founder and CEO of Evolution Media Group, Vanessa Stoykov, to its client stable. Agent99 will be supporting the launch of her Learn from the Money Masters – The Investment Series show on Channel Nine. Stoykov has over two decades […]

Susie Porter & Jacki Weaver Lend Support To Young Filmmaker In Crowdfunding Campaign
  • Media

Susie Porter & Jacki Weaver Lend Support To Young Filmmaker In Crowdfunding Campaign

A new crowdfunded short film is shining the light on barriers for women filmmakers, thanks in part to Aussie actresses Susi Porter and Jackie Weaver. Starring Porter, Beverly explores a bizarre love triangle in middle-class suburbia. It is an unflinching coming-of-age comic drama exploring sexual awakening in the era of technology, and the universal yearning […]