ComMetrics Benchmarking – better ROI with social media

Recently I gave a short presentation about social media marketing and why I am not always thrilled with it for Dabgo – Danes Abroad Business Group Online – Zurich.

For instance, I am always re-discovering that more companies than I would like follow neither the KISS (keep it simple stupid) principle nor SMART (Specific, Manageable, Actionable, Relevant, Trending) metrics. The result is costs that outweigh benefits, and worse, forget ROI (return on investment).

Article source – Social media ROI: 3 things we usually do wrong

Advertising is a great tool to make customers more aware about your product. Nevertheless, the amount of resources expended may result in a great campaign flopping if the price of success becomes too high.

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Take aways – 3 tips that will help you

1. Combine offline and online: It makes sense to combine your offline (e.g., brochures, exhibitions and print ads) AND online (e.g., more pageviews, subscriptions for newsletter, Facebook friends/fans) marketing efforts. However, be specific and spell out how they will create what synergies (e.g., will they buy your app, digital newspaper or what?).

2. Define your objectives BEFORE launching your campaign: These goals must be agreed upon, written down and defined. For example, spend X amount of money on print ads and gain 1,000 Facebook friends = cost per additional friend.

3. Measure the right things: If the objective is to gain Facebook fans, what do you hope to achieve with them once you have them (i.e. can you measure and deliver the results)?

Tip: Search for more information about ROI, cost-benefit analysis for social media, Facebook & Co from CyTRAP – ComMetrics (click to query).

Read more about the tricks and tips we presented at the networking event.

Podcast, video and presentation slides

1. Find the podcast/audio MP3 file below (just click on the audio MP3 text to listen or download) or receive it via our iTunes Podcast channel.

You can also subscribe to the podcast using our ComMetrics RSS podcast code and automatically download right after we upload them (for a crash-course for non-geeks on how to use RSS with email programs or browsers, click here).

2. You can watch and share the video on Facebook or view it right here:

3.  You can view and share the slides on LinkedIn or view them right here and click on the additional resources links within the presentation:

Want to share an example or tell us about a big flop?
Write a comment, I love to hear from you!TL:DR
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More information about this topic:
- 2011 trends: Luxury brands and social media ROI
- Virales Marketing als Verkaufsfoerderung: Wo bleibt der ROI
- Achieving social media ROI: The definitive guide
- 2011 trends: Social media best practice and ROI
- Top 10 questions customers are asking you in social media
- Going viral or selling product: ROI anyone?