Public Relations & Social Marketing Insight
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Public Relations & Social Marketing Insight
Social marketing, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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5 Tools to improve your Social Media ROI (on a budget)

5 Tools to improve your Social Media ROI (on a budget) | Public Relations & Social Marketing Insight | Scoop.it

As the organizations are gradually realizing the importance of social media, they are also increasing the budgets allocated for the same. But increasing budget also means that the marketers cannot do it casually. They must deliver visible and quantifiable results. This is exactly where the question of return of investment comes.


So, how to measure ROI and how to enhance it?


The latter will surely depend on your own creativity and skills but before that you need to get a clearer picture through analytics. Google analytics is of course a good free tool used by everyone. Even Facebook and Twitter offer their own analytics nowadays. It can tell you the amount of traffic generated by your social channels. But for better planning you will need to know more.


So, here are a few additional tools to measure your social ROI and enhance the same. Most of them have free to use features with some advanced paid options....

Jeff Domansky's insight:

How to measure social media ROI and how to enhance it? Here are a few tools for the job.

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Reboot Your Business and Your Life

Reboot Your Business and Your Life | Public Relations & Social Marketing Insight | Scoop.it

Marketing podcast with Mitch Joel: I've been sensing a change these days. Actually, like most change, it happens in a way that is imperceptible, until you step back and look at something like a six month window....

 

The change we are undergoing right now will dwarf what we’ve seen over the past five years. Every bit of data and information we share and consume is headed towards a single source or, as Joel calls it, a single pipe. We are moving beyond customer service and marketing messages to a era where businesses must be built to interface directly with the customer at every level. The customer and the direct relationship with the customer is an organization’s greatest asset and greatest risk.

 

An organization’s ability to respond directly and in real time will determine success and failure. Proactively leveraging opportunities in real time is the new landscape. One of my favorite lines from the book sums this up – “Instead of asking people to like us Facebook – why not trying liking them first.”-...

Jeff Domansky's insight:

Love that quote: “Instead of asking people to like us Facebook – why not trying liking them first.” Really crystallizes the sea change in social media and the need for marketing to respond differently

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How To Measure Your Social Media Return On Investment - Forbes

How To Measure Your Social Media Return On Investment - Forbes | Public Relations & Social Marketing Insight | Scoop.it

Though measuring social media ROI may not be perfect, it's not impossible either. These three methods can help gauge what your small business is getting out of its social media commitment....

 

But just how much time and effort should it consume? While it may be easy for the average small business to say it’s worthwhile to be on Facebook , most would agree monitoring it and posting 24/7 would be a waste of resources. The only way to know how much social media is enough is to have some sort of gauge on your return on investment. That’s not to say measuring ROI is a snap.

 

Fast Company cites an Adobe white paper that says 88% of 750 surveyed marketing professionals didn’t feel they could accurately measure the effectiveness of their social media campaigns. Fifty-two percent said that dealing with social media ROI was their biggest frustration. Here are a few ways to ease that annoyance. Though measuring social media ROI may not be perfect, it’s not impossible either. These three methods can help gauge what your small business is getting out of its social media commitment....

Jeff Domansky's insight:

You gotta know if you're measuring up and if your social market spending is paying off.

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How To Take Back Social Media Marketing From Facebook & Twitter

How To Take Back Social Media Marketing From Facebook & Twitter | Public Relations & Social Marketing Insight | Scoop.it

It's shameful so many brands still ask social media to deliver likes, fans, followers, views and channel performance indicators, not real business results.

 

It's 2013. Social media is no longer new. It's a mature medium, one that has been woven into the fabric of consumer life online. So why are brands still determined to act like naive tourists, blundering around a foreign land and upsetting the natives? It's time to take back control. Brands have been lectured for the last few years on the need to let go of the vice-like grip on their brand, to hand over control to their customers in social media. And it's true that social media has ushered in a new age of transparency, where customers want a far greater stake in any brand they interact with....

Jeff Domansky's insight:

Let's make sure our social media marketing programs deliver what really matters.

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It’s High Time to Socialize the C-Suite | Business 2 Community

It’s High Time to Socialize the C-Suite | Business 2 Community | Public Relations & Social Marketing Insight | Scoop.it

...In 2010, Weber Shandwick released a study on the state of leadership reputation (Socializing Your CEO: from (Un) Social to Social), stating that 64% of the surveyed CEOs did not engage through company websites or social media outlets.

 

“There are several reasons why CEOs are not more Social,” wrote Leslie Gaines-Ross, Weber Shandwick’s Chief Reputation Strategist. ”Time is better spent with customers and employees…the return on investment has not yet been proven, legal counsel tends to caution against it and anything that smacks of ‘celebrity CEO’ is a no-win.”...

 

As for ROI, the evidence is growing. Earlier this year, the Chief Strategy Officer of Dachis Group, Peter Kim, published 101 Examples of Social Business ROI. Among them...

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How Your Social Media Efforts Affect Search Ranking | Bit Rebels

How Your Social Media Efforts Affect Search Ranking | Bit Rebels | Public Relations & Social Marketing Insight | Scoop.it

Understanding the complexity of how your social media efforts affect search ranking is vital for you to know how to use social networking to your advantage....

 

It’s time marketers and brand owners realize the immense impact social media has on their search ranking. The way marketers and content creators use social media and social networking has always been focused on building a huge following, but it goes much deeper than that. Today search engines incorporate influence into their search result rankings, and social media has an ever increasing part in that.

 

If you want to make sure your search ranking is as good as it can be, this is going to help you. I could probably go on all day long about exactly how social media affects your search ranking, and what you need to understand and think about when you start promoting and marketing your services, content or website. But I am not going to bore you to death with all the technicalities that go into it all. This is more about how you can improve your search ranking with a few adjustments and a little bit of understanding of how it all works....

Jeff Domansky's insight:

Here's how social media can improve SEO, ranking and traffic.

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Can You Measure Content Marketing & Social Media ROI?

Can You Measure Content Marketing & Social Media ROI? | Public Relations & Social Marketing Insight | Scoop.it

The catch phrase of 2013 seems to be “Big Data” – the concept of how massive amounts of strategic data collection (can you say “google”), analysis and targeting can generate huge ROI for businesses. I’ve written how I believe technology for marketers has finally caught up (technology-wise and cost-effectiveness) to where “lazy marketing” is no longer a valid excuse.

 

Do you know which of your marketing channels are bringing in the most customers? In today’s multi-channel world, it can be tough to tell. Generating engaging content marketing media is already tough enough – we need tools and processes to know what’s working and what’s not in order to maximize ROI. Savvy marketers know and use closed-loop analytics tools to measure, analyze, and act on the performance of all the elements of their marketing, from blogs to social media, landing pages to leads, and calls-to-action to email marketing and more.

 

Take a look at the infographic/study below, conducted by the gurus at SEOmoz. The standout takeaway: “….lastly, it turns out that 60.2% of marketers are looking for analysis options, as well as other analytics options, in their social media management tools”. This comes as no surprise. When savvy social media marketers are communicating their messages online, they want to know exactly how those efforts are benefiting them by analyzing whether each social strategy is connecting to their end goal: revenue….” …and how do your social media channels stack up against your blogs, videos email touches and landing pages?...

Jeff Domansky's insight:

How do you measure up in your social marketing? Useful tips and tactics.

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Study shows social media drives sales | LeadersWest

Study shows social media drives sales | LeadersWest | Public Relations & Social Marketing Insight | 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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Social Media ROI, Is Social Media Marketing Effective?

Social Media ROI, Is Social Media Marketing Effective? | Public Relations & Social Marketing Insight | Scoop.it
The question of Social Media ROI and whether social media marketing is effective is one that is constantly on the forefront of businesses.

 

It is no longer a question of whether a company needs to be in social media, but more how to measure the efforts.

 

In the infographic below, thanks to MDG, we get a better look at additional factors to determine effectiveness beyond the obvious “did someone buy our stuff”....

 

[Valuable infographic for social marketing and PR experts - JD]

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