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|World & Business - Marketing|
|Tuesday, 17 July 2012 12:15|
The question is why we strive to measure everything with the same standards. Why in our balance sheets from the same perspective we see the return of the shares involved in a sales channel with the return of the actions that work in an information channel, recommendation at best.
And is that not only must live conversion companies. And a face to face between SEM ratios compared to the ratios of Social Media for sale as pure further relates to unbalanced, is deeply misleading if not taken into account the returns that occur along the entire funnel salt phase.
Because they are the targets, and only them, each of the phases of our sales funnel that will define the actions to take, actions that will measure in alignment with the expectation of success for this phase in the corresponding terms, ie in a scoping phase, knowledge or notoriety it makes little sense to compare returns in terms of conversion but results of share of voice and engagement with our community, for example.
In fact, the sale should not be an ultimate end in itself, since the funnel never ends with the achievement of the purchase action by our government but there is a further step, in terms of capital and long term planting, care and culture of our communities and also generates its own return in terms of inter-and intra recommendations or growth of the exhibition and dissemination of our communication.
Following our attempt to be shallow and digested in a setting as complex as this, we can summarize that, as all-ROI in social media is also relative. That is, in a theoretical-and utopian-in which companies could define a perfect relationship between a marketing action and its results in terms of conversion, social media we find exactly the same need for abstraction in conventional media to understand returns in terms not just of goals for each phase of the funnel, as well as intangibles.
For those who want a higher density, it is interesting calculation model developed by return Ignite , based on 7 direct inputs on impressions, clicks, viewings and mentions mainly, but assuming it is a ROI seeking amplification in the presence conversation supported by studies that show a higher conversion rate among fans of the brands that among those who are not.
You can also do your own calculation exercises with the table that have developed as a calculator for ROI.
In our view, at the strategic level, the ideal is to associate business indicators for the assessment of social media objectives, although it may be very complex task:
1. Brand mentioned, discussed, we talk about it. You have to understand the evolving intensity and feeling of that conversation.
2. Engagement: knowing the degree of relationship we have with our community is essentially l. If we are in their top of mind, they feel safe recommending or they like and share our content.
3. Sale: if we know our communities well, their interests and preferences, we conduct our actions to sale of a balanced, non-intrusive and dialogue.
4. Involvement: linking our internal is key to any marketing project work, must be measured symbiosis between employees and the brand they represent, which are ambassadors.
5. Costs: we value the allocation of budget associated with investment in advertising and customer support, for example.
6. Innovation: hard to quantify but even harder to gauge the tremendous possibilities. A quantum leap exponentially. From the co-creation to the substantial change in the parent process. Today, essential
In any case, and being aware of lush landscape in which we move when measuring the return of our actions on social media, we never raised the dilemma of what to choose between the pursuit of achieving targets or indicators; objectives always win. In addition, because for us, this dilemma would be to ask if we want more to Mom or Dad.