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Friday, October 4, 2013

Social Media News For The Week Of 10/4/13

The Death of Social ROI - Companies Are Starting To Drop The Idea That They Can Track Social Media’s Dollar Value

Businesses are realizing that their social media marketing efforts can’t be measured in the strict terms of revenue-per-customer metrics, according to a study conducted by Business Insider. The report found ROI tracking use by marketers fell from 17 percent to only 9 percent and the tracking of conversion rates dropped from 25 percent to 21 percent. At the same time investment in social media by firms is up and expected to reach 16 percent of the total marketing budget of companies by 2018. As businesses have moved forward with social media they have learned to concentrate their efforts on audience-building, brand awareness, and customer relations. Full Story Here:

 

Social Media Strategies to Grow Your Business

Frustrations over the lack of measurable returns for a company’s social media investments results when they fail to understand the nature of the medium. Social media is about building relationships between people, not products. Learning who the business’ target audience is and connecting with them will lead to successfully leveraging social media marketing. Full Story Here:

 

4 Businesses That Use Social Media for Growth

While social media is about interaction and connection between people, the end goal for business is to get those people talking about the brand’s products and services. This article provides a few good examples of businesses who have successfully grown as a result of their social media marketing efforts. Full Story Here:

 

Why Social Media is Now The New ‘Word of Mouth’

Social media has taken over the role of ‘word of mouth’ advertising. A successful social media marketing campaign results in a large number of people talking on the medium about a firm’s products and services. The brand’s fans, in a sense, do the marketing for the company. Social media thrives because of the ever shrinking attention span of modern society. Social provides instant gratification in the form of social opinion provided through instant communication. Full Story Here:

 


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