Ways to Find Better ROI & Values on Social Media
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Cynthia Johnson's Presentation for Hampton Road's American Marketing Association
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Ways to Find Better ROI & Values on Social Media
Editor's Notes
- Source: http://www.cmosurvey.org
- Note: The percentage of CMO’s who couldn’t show the impact social media had on their business stayed the same from 8/14-2/15, however, the percentage of those who said they could prove the impact decreased 1.8% Source: http://www.cmosurvey.org
- Source: http://www.cmosurvey.org
- Note: The percentage of CMO’s that can prove that social media has an impact on their business has declined, yet the percentage of their marketing budgets spent on social media is projected to more than double in 5-years. Shouldn’t we work on providing value first? Source: http://www.cmosurvey.org
- Note: The percent of marketing budget spent on analytics is projected to nearly double in the next 3-years. Source: http://www.cmosurvey.org
- Note: In Aug. 2014 only 33% of CMOs said that their company formally evaluates the quality of their marketing analytics. Source: http://www.cmosurvey.org
- In Feb. 2015 the percentage of CMOs who said that their company formally evaluates the quality of their analytics decreased by 2.6%. So why are they nearly doubling the spend on analytics and not increasing the level of evaluation of them? Source: http://www.cmosurvey.org
- Note: The percentage of companies that could provide analytics requested has continued to decrease. Source: http://www.cmosurvey.org
- Note: This looks good, right? We see that more companies are using data to target customers. However… Source: http://www.cmosurvey.org
- Note: In Aug. 2014 the average CMO was only somewhat concerned about raising privacy issues with online customers. Source: http://www.cmosurvey.org
- Note: And in Feb. of 2015 the average CMO was even less worried about privacy issues. So our ability to prove ROI is decreasing and our spend on social media is increasing. Our spend on analytics is increasing, and our evaluation of the quality of our analytics is decreasing. Our use of data for targeting customers is increasing, and our fear of raising privacy issues is decreasing. Does this sound right to you? Source: http://www.cmosurvey.org
- Note: The amount of marketing activities to be outsourced is increasing. Source: http://www.cmosurvey.org
- Note: And the amount of hires being done in the marketing departments are decreasing. Source: http://www.cmosurvey.org
- Note: Why aren’t we spending more money on training and less on the analytics that we don’t vet and the social media spend that we can’t prove has a return? Source: http://www.cmosurvey.org
- Source: Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Source: Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits
- Schmottmuller, Angie (2013) http://searchenginewatch.com/sew/how-to/2249515/social-media-roi-14-formulas-to-measure-social-media-benefits