If you're accountable for your social media program, you're accountable for your social media ROI. Do you have a strategy in hand?
Key Highlights
[00:56] The Thing I See Missing About the Debate on ROI of Social Media
[01:48] Social Media is Eating A Lot of Marketing Budget
[02:21] The Notion of Accountability
[02:59] Do You Really Need to Invest That Much in Social Media?
[04:21] Are You Employing Best Practices in Maximizing the ROI of Your Marketing Budget?
[05:12] Are You Being Accountable for What You're Spending?
[07:29] Maximize Your Efforts
Notable Quotes
- I think the thing that's missing, and I talked about this in Maximizer, social how social media is a never ending, changing landscape. And therefore there's a need to be nimble to be measuring to experiment to try new things.
- There's a notion of accountability and everything you do. And I think this is the missing piece in the social media ROI debate, that you are accountable for what you invest in, the company is accountable, whoever approves, especially when companies say, well, we want to own social media, okay?
- If you want to rise above the noise, it's commonly or I would say, it is going to be more and more so that it is going to be a pay to play scenario for what it's worth.
- With the evolution of social business, we're all starting to work together and And the more you know, social media becomes an important part of your business as it begins to be used enterprise wide, there's obviously going to be more oversight into well, what are we spending?
- But I do believe there's going to be a time when the accountability question will be called in when sales start to fall, when profits start to fall, we need to cut budget, where are we going to cut it?
- Let's call it a social business strategy, where ideally, you have influential stakeholders internally that have written off on where you are measuring what you're doing. And your social media activities are aligned with your business objectives. Without doing that, you know, you really run the risk of potentially not only losing your budget, but losing your job.
- If you haven't read, maximize your social in that book really is all about really creating that social media strategy and and measuring the ROI so that you know that you are 100% accountable for every dollar that you spend in your social media program.
- But even within that, whatever allocation you have all you really maximizing your efforts, and that's really where I think a robust social media strategy creation, maintenance and optimization comes into play.
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