Social Media Marketing
If you believe that you’re not wasting resources on digital marketing, I have a surprise for you! Most surveyed marketers say they cannot prove the ROI (return on investment) for their digital marketing efforts, particularly on social media and content marketing.
Oh no, you say!
Sorry to break bad news, but TrackMaven’s Marketing Leadership Survey: Strategy, Technology, and Data-Driven Management 2017 demonstrates that the biggest challenge for over 71% of surveyed marketers is proving the ROI of their social and digital marketing efforts. And many of us assumed that digital marketing would make tracking easier than traditional marketing!
These aren’t unique results either. Last summer, MarketingCharts posted results from The CMO Survey that showed how difficult it is to show the impact of social media marketing efforts on businesses. Without evidence, we can’t assume that the same results would apply to nonprofit organizations, but typically, they tend to fall behind their for-profit counterparts.
The TrackMaven survey doesn’t say that marketers aren’t trying to measure their results – the top three metrics they use are: engagement metrics (91%), consumption metrics (82%), and audience growth metrics (78%). What it is saying is that only 27% of them consider themselves very effective at demonstrating the value of marketing efforts internally. Most (69%) say they’re only somewhat effective. Ouch.
If you want to get attention on social media today, you need to advertise. In my post this week, 3 Most Successful Email Tactics are the Most Difficult, we learned that social media advertising came first in getting people to sign up for your emails. Now we know where advertisers plan to spend their social media dollars.
The big winner is Facebook followed by the three social media networks in the graph below. Continue reading
If one of your social media marketing goals is to get more Facebook “likes,” you need to read this!
Merely liking a brand on Facebook doesn’t change behavior or increase purchasing.” (Harvard Business Review, March-April 2017 Issue)
I know. All this time, you thought Facebook marketing would lead to increased sales, donations, engagement, changed behaviors, and more. Surprise!
And, with all the money, time, and energy focused on social media marketing today, you’re going to find this quite enlightening.
Academics and researchers Leslie K. John (Harvard Business School), Daniel Mochon (Tulane University’s Freeman School of Business), Oliver Emrich (Johannes Gutenberg University of Mainz), and Janet Schwartz (Freeman School of Business) say their studies prove otherwise.
It’s possible that getting people to follow a brand on social media makes them buy more. But it’s also possible that those who already have positive feelings toward a brand are more likely to follow it in the first place, and that’s why they spend more than nonfollowers.”