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Scoop.it!
The ongoing debate about the value of social media engagement remains unresolved. However efforts have been made to assess the value of social media as “earned media” and to assess the ROI of social media marketing. After applying these recent calculations to our business and to our clients’ businesses, we find the assessments reasonable. At the very least, these calculations create a starting point for analysis of individual business results. ... 
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Scoop.it!
...He's also a data guy. An MIT alum and lecturer, Brian knows how to separate useful data from vanity metrics, and he's quick to let you know what truly counts as an indicator of how our company is faring at delivering on its promise. While we proudly think of Brian as a unique leader, this laser focus on measuring the right metrics is something I'd wager he shares with CEOs across the board. And when it comes to social media, in particular, vanity metrics abound. So here are some social media metrics that actually matter to our CEO --- and likely yours, too! ...
Jeff Domansky's insight:
A good snapshot of ocial media metrics your CEO actually wants to see. Recommended reading for marketers, PR and content marketing pros.
Scoop.it!
Recently released research by LoyaltyOne and two leading North American academic institutions provides the long-awaited proof that social media interaction between a customer and a brand drives immediate and long-term sales increases.
The findings are based on a two-year analysis of brand-customer social media engagement and transaction data with the more than 10-million member AIR MILES Reward Program. AIR MILES collectors were encouraged to engage with the AIR MILES-hosted social community website by sharing thoughts about the brand or participating in promotions; they were rewarded either with a small number of bonus miles or entry to a lottery for large prizes. By analysing their unique collector data, researchers were able to show that these participants increased their purchases from program partners by 15-30 per cent over non-participants.
It’s proof that smart social media marketing can deliver a significant, lasting and measurable increase in customer engagement and transactions....
Jeff Domansky's insight:
Research proves that social media marketing can deliver measurable ROI...
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Scoop.it!
Everyone in business should understand opportunity cost (lost opportunity cost or missed opportunity cost). If you bring this kind of analysis to bear, you will quickly see why your business cannot afford to ignore social media as part of your marketing and customer service programs. Ignoring social media results in more than one missed or lost opportunity. Each opportunity carries a cost to your company. Before you start plugging numbers into a cost equation, understand that social media success requires three things: 1. Knowledge 2. Time (typically 6 to 12 months) 3. Involvement Understand as well that social media marketing alone is not likely to achieve your marketing goals. Social media should be used alongside and in conjunction with a range of other online and traditional marketing tactics or activities. Finally, understand that you need to understand and know how to measure some new key performance indicators, including...
Jeff Domansky's insight:
Social media reality check and smart advice.
Scoop.it!
In this series, we’re going to look critically at the ways PR has traditionally been measured and the ways we’re measuring PR today. Measuring PR and earned media has always been something of a challenge in the past, but thanks to digital marketing and metrics tools, it’s easier today to find the impact of PR, even with businesses that have significant offline components. - Sales/business goals - Marketing metrics - Social media - Search marketing - Paid advertising - Primary research - Standard media metrics
In this post, we’re going to look at social media as a proxy for measuring public relations. Social media itself can be measured in three broad categories, from audience growth to engagement to conversion....
Jeff Domansky's insight:
You need to know how you measure up. Helpful tips...
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Research encouraging and getting better at highlighting social media ROI.