SRoMI- social return on marketing investment is it possible to track
sROMI-SocialReturn onMarketingInvestment is itpossible to track? One of the biggest challenges facing on-line marketerstoday is did I get my money back from the program or campaign I just launched.Part and parcel with this big problem is why is it so hard to figure out who tomarket to. Nearly every company we’ve spoken with feels they have their targetingnailed but at the end of the day their responses rates relative to other mediums isless than satisfactory.So how do we turn the tables and improve our on-line return on investment?The simple answer is better Targeting. If we know which influencers we shouldbe marketing then it seems to make sense that we can increase the response rate forthe campaign.So lets walk through how your marketing team would deconstruct the process:a. Identify the vertical you want to approach
b. Determine the reach and response we anticipate from the campaignc. Create the offer and set a hurdle or response rate based on the budget allocatedfor the campaignd. Review the demographic info for the selected channels and ensure they alignwith the profile of the buyers you requiree. Test the offerf. Launch the campaigng. Review the metrics and determine if the hurdle or rate of return was achieved. Ifyes, rinse and repeat if no then kill the campaign or test alternative versions andreview a-f above.What if there was an easier way?What if we would identify people and companies to focus your marketing effortson- Top Influencers. What if you could know with a high level of certainty thatyou were picking the “right” group of people to focus your digital campaignstowards. I wonder if you would be a happier camper then?.Of course you would- for the firms that have tools and solutions, to pin point thekey influencers, in their market have an incredible strategic advantage. Think aboutpotentially doubling the effectiveness of your marketing spend since you couldnow but your target group in half.The challenge to the market place is how could you increase your Targetingeffectiveness by 100% over the next quarter.
Please send us the website or company name of the firms you think fulfill thispromise. We look forward to adding them to our list we track.Good Hunting hope to see you on-line in the near future.JimPosted in: Social Media Investment