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Is Social media marketing worth it


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November 2012 article from Achievers group that appeared in My business magazine

Published in: Business
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Is Social media marketing worth it

  1. 1. SME EXPERT TONY GATTARIIS SOCIAL MEDIAMARKETING WORTH IT?S “The jury is ocial media sites like Facebook, YouTube, Does social media provide Twitter and LinkedIn continue to grow at an return on investment? incredible rates, with the growing populationof Facebook users now passing 11 million in If you have developed a social media campaign, the difficulty remains in how to effectively still out onAustralia alone. With the huge potential access to users, measure the ROI of your social media spend. For businesses that are tracking social media whetherbusinesses continue to swarm social media lookingfor opportunities to reach new customers. metrics such as ‘likes’ and fans on Facebook, most have not found that these metrics have any social mediaIs your business social? meaningful relationship to sales. It is crucial to find a way in each campaign is anWhether social media can work for your businesslargely depends on whether your business has a to effectively measure the ROI of your social marketing. Typically this is achieved by measuring opportunitysocial angle. Online social chatter is the same as inthe real world, it revolves around topics like sports, the specific action of a user, such as a visit to a website landing page, or in the real-world, for or burden.”fashion, music, TV and food. example, with a printed coupon or offer. Track If your business products or services are ones these actions and compare the sales results tothat people like to talk about and find interesting, your social media marketing budget. Is the spendyou will have a much easier time acquiring social paying off?media interest, fans and followers. If you run the local petrol station or manage All about brand buildinga chain of hardware stores, social media is Effective ROI measurement is not the end of thestill largely a gamble. story. Many argue that social media should be Social media platforms are about users having seen through the lens of connecting with usersfun, connecting with their friends and exploring and building brand loyalty over the long-term.their interests. Your brand needs to enable users This approach may supercharge word ofto achieve these social goals. mouth, but it may be impossible to measure. If building a connected brand is important to yourWhat do you do if your business business strategy, social media has to be part ofisn’t social? your strategy moving forward.If your products or services aren’t social, thenyour marketing needs to be. A great example of Is social media an opportunity ora successful social media driven business is the burden for your business?dollar shave club. The jury is still out on whether social media is an Not many products are less social than razors. opportunity or burden for business owners. ButBut the dollar shave club, offering razors to your one thing is for certain, and that is that successdoor for a $1 a month, created a hilarious video in social media does not follow a tried and testedthat went viral and has been viewed by millions of path, so you need to be willing to try differentusers. approaches until you find one that engages users. However, there is no formula for creating You also need to be aware of how social mediaremarkable content like this on demand. To stand platforms themselves are in a state of flux anda chance, you need to engage in ongoing content are constantly changing to adapt to users, ascreation and delivery on social platforms, in the these changes could have a great impact on yourhope that your efforts will gain traction with users, selected strategy.and accept that most will fail at the first post. Areyou up to the creative challenge? Tony Gattari is founder and Chief Energy Officer of Achievers Group. 53