Why Are We Spending So Much Money On Social Media?

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Trying to convince a numbers person why your company should invest in social media? Here's a light breakdown that might help you.

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Why Are We Spending So Much Money On Social Media?

  1. Why Are We SpendingSo Much Money On Social Media?A (Sort-Of) Survival Guide For Numbers People
  2. Remember the dayswhen everything was easy?
  3. There were limited places to advertise,and your advertising was impactful.
  4. It was easy, but imprecise.
  5. And then came...THE INTERNET!
  6. Referring TrafficClick-Thrus BehavioAdvertiPAY PER PERFORMAReferring TrafficClick-Thrus BeAdoralsingSUDDENLY, MARKETING HAD DATAReferring TrafficClick-ThrusBehavioral AdvertisingPAY PER PERFORMANCE!
  7. When a finance person hears“pay per performance.”
  8. And then came SOCIAL MEDIA.
  9. And you heard this.
  10. Away from measurementAway from dataAway from controlAnd in a way, this giant step forwardfelt like a huge step backward...
  11. After all, how can you effectivelymeasure 1-to-1 conversation?
  12. Like this:
  13. Or this:
  14. Of course, there wassome measurementto this:
  15. And this got justa little bit ofearned media:
  16. But most of social media involvestalking daily to your customers andfiguring out how to produce contentthat matters to them.
  17. So now, instead of just producing your product orservice, you’re a content producer too.
  18. Social media has dense data,but limited learnings:What do those impressions mean?What does a like get me?How do I measure the return on a retweet?
  19. In short: life just gota whole lot harder.
  20. Or did it?
  21. When we engage in a dialoguewith our customers online, webecome more invested and moreaccountable to our customers.
  22. We will make better products.We will have better customer relationships.We will craft better terms.orWe’ll explain why we can’t do it exactly the way they want.And then, at the very least, they’re heard.
  23. Social media is not expensive at all.In many cases, the platforms are free.
  24. But social media takes time.And time is the most precious resource of all.
  25. Social media is built on technology,but is primarily people powered.
  26. Invest in the people to actively listen and createcontent for your brand. Invest in tools that helpprovide data to show if it’s working.
  27. ReachTraffic ReferralsContent ViralityEngagementSocial Ad PerformanceAnd what does “working” mean in social media:but that’s just marketing speak.
  28. What about:Call Center Volume ReductionResearch and Development Data AcquisitionImproved Speed of the Sales Funnel
  29. Here’s a pop quiz...
  30. What is the value of one customerto your organization?
  31. How many of your customersare on social media?Attendees of socialmedia invite only“Free Chillzone Day”
  32. Could you increase the value of those customersif you had a deeper connection to them or betterunderstanding of what they want and need?
  33. Then what are you waiting for?
  34. Thank You.Carrie KerpenCEO, Likeable Media

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