The Cost of Social Media Marketing

Nowadays when you talk about modern PR and Marketing, everything revolves around Social Media, the new internet. Everything and everyone hangs out on social networks, be it on blogs or in other online communities which makes it the logical choice for smart and effective marketing efforts. Until not so long ago only big and reputed organizations dared to venture into these unknown realms, but in the meantime everybody heard about the nearly endless possibilities of being present in the social web and nearly every business wants to be there and get a piece of the cake. 

Social Media is Cheap!

That is the common misconception. In the beginning this might be true, but just a little further down the road most businesses realize that that is NOT true! It is pretty easy to create a company profile or a fan p age but the constant updating and actualization requires a lot of resources.

One of the most common problems professional social media marketing providers like Foxfang Digital Solutions encounter is that companies actually think that Social Media in general is not that expensive and that the price-plans of Digital Agencies are exaggerated. A Facebook or Twitter Profile for example is quickly established they argue – but what comes next? Do the fans and followers come all by themselves? I don’t think so!

 It’s true that you can get a lot of followers in a relatively short time, but what about the quality? In the end, like any other marketing activity, Social Media Marketing is all about getting new customers, isn't it? What do you do with 10k followers but not a single lead generated?

No doubt one of the targets of a social media campaign is to work on increasing your followers and fans, but this is a long-term goal and doesn’t happen overnight. The major task is to engage and interact with your community and build a real acceptance for your brand.

We are on the Social Web - LOVE US!

Let’s say you reached 10’000 fans on Facebook and already have 1000 followers on Twitter – you think your work is over now? Wrong! Now the actual work starts! It is extremely important now that you engage your followership and don’t disappoint them. Because they expect that you offer some kind of compelling and engaging content. If you fail to do so you will see their numbers dwindle. Your fans and followers are not stupid and there are enough of bad examples out there, companies whit a pure marketing presence who lost the loyalty of their audience after a short time and wasted their whole effort.

The message is quite simple: Community Management is an intense and time consuming effort. Either you allocate internal resources or you outsource it to an external expert – in both cases it costs you. But if you opt to go with external consultants it will be significantly cheaper.

The Chase for the ROI of Social Media

What is the return on social media? Can you measure it? What metrics are appropriate for suitable measurements? The question of the ROI currently enjoys much attention in the corporate world. This is mainly due to the fact that the general interest in Social Media Marketing has increased considerably, and naturally the question of the return on investment of such marketing practices is being raised.

Most protagonists agree that (for the time being) the ROI for social media marketing is hard to measure. After all, even when it comes to traditional media, marketing controlling is an inexact science because it mostly focuses on global contexts which have little significance for practical purposes on a small scale. Does that mean that the search for the ROI of Social Media doesn’t make sense?

From a business perspective it is always important to know how the income is compared to the capital invested. Therefore the holy grail of questions when it comes to social media is: Is there a return on investment in social media and if so, how do you calculate it exactly?

There are many arguments against a general ROI of your social media engagement. Imagine a football team in which “Social Media” is one of the players. And now let’s try to measure how big the part of this player was in the overall success of the team. This would be far from simple as there are so many factors to consider. However, I would like to look at this subject from different angles.

To measure the ROI of social media, you first have to be clear about what metrics are likely the most accurate. How many different ways to measure it are there? How do the different platforms provide me with comparable figures? What metrics from traditional marketing (eg “Reach”) can I apply to Social Media? ........

Amber Naslund created some theories on her blog in which she gives more details regarding the measurement of SM success on which I agree in principle:

1. If you don’t measure anything else, social media measurement isn’t the problem.

2. Measuring Success is not the goal

3. Measuring the activity is not as important as measuring the results

4. Measured values should always be determined by the objectives

5. Causes and correlations are different things

6. The Interpretation of the Analysis it trickier than the measuring

7. Not all Metrics can be standardized

9. Measurement Reports are only the beginning and not the end

10. Measuring Success doesn’t have to be complex to be effective

11. Performance measurement is an ongoing process of adjustment.

12. Never underestimate the cultural and operational factors

13. Measuring Success is more important than just the ROI

And most of all:

14. “Social Media is not measurable” is just an excuse!

If we get down to the point the calculation of the Social Media ROI is rather simple, but varies from case to case: The Social Media ROI is the Return on your Social Media Goals! The odd characteristic of the social media return is that you can define it to be essentially anything you want it to be!

In reality, social media return is the value that you receive from your social media campaign. 

For instance, if the objective of your social media campaign is to drive sales, then your social media return is the number of sales that you can attribute to your social media campaign.

Instead of sales, say your goal is to drive consumer insights. In this case, your social media return is the quantity and quality of the consumer insights you get from your fans and followers.

A third example of social media return is brand awareness. If your goal is to drive awareness of your brand, then your social media return is brand awareness.

I could give many more examples, but the point is that social media return is the value that you derive from social media based on the goals of your campaign

About the Author: Foxfang Digital Solutions is the leading provider of online marketing solutions in India, well known for running highly popular and effective campaigns across all platforms. Have a look at our website: www.foxfang.com or contact us directly: info@foxfang.com

Follow us!

FACEBOOK  LINKEDIN  TWITTER  YOUTUBE

9 Quick Tips for Successful Social Media Marketing

Although everything has been said about it, one gets still surprised by the number of people who have no clear idea about ​​social media marketing.  The only thing that people are starting to realize is that it is not a walk in the park to initiate a social media campaign. A good and effective social marketing offensive is definitely as complex as any other media advertisement campaigns.

Primarily, it is not about commercial campaigning, but sustained presence. This leads to new contacts and new opportunities for companies, as well as strengthening their existing customer relationships and branding effects. The following 9 tips for successful social media marketing may contribute to a better understanding.

1. Stay on Top and Update Regularly!

One of the most common mistakes is that businesses euphorically build their profiles on any given platform, are thrilled by how many people “like” it or follow them, and then turn around and concentrate on other things which seem more important at the time, apparently without realizing what kind of damage they do to their reputation and their brands. You don’t have to write a new blog post every single day, but I think it is not too much to ask to update your status on Facebook,Twitter & Co. on a daily basis.

People fail to realize that these messages are the foundation of their relationships in the social networks and that they leave an impact on potential customers who may visit the profile in order to gain an impression of the provider. Irregular or infrequent updated profiles may indicate unreliability or inactivity. And never forget that your competition is just a click away , waiting to convert these potential customers into regular clients.

2. Do Not Pitch!

As already mentioned before, social media is about building relationships and not about troubling some random contact with your newest business idea. Direct advertising is frowned upon and how you get in touch with someone has also something to do with respect. 

Not everyone who is interested has an immediate requirement but may keep you in mind for future projects. A pitch in social media is totally inappropriate and destroys more than it could ever achieve.

3. Communicate!

You don’t have to comment on every single post or respond to everything which is being said on your profiles. But to turn a blind eye also doesn’t cut it. It’s like in the real world; How can we possibly come in contact with somebody without communicating?

Get involved, reply to comments (where it seems appropriate), contribute to some interesting discussions if you have something to say and time permits.

4. Think First, Then Post!

What you write on the Internet is public and it will be there forever. Keep this always in the back of your head before you post something instead spontaneously posting everything which crosses your mind.

5. Handle Criticism with Style!

We all have a bad day every now and then and it will happen that somebody posts something negative on your profile. Let it be there and do not delete it! Unless there is something you have to correct, simply ignore it.

One should also remember that everyone makes mistakes and not every criticism is unjustified

or undeserved. React to legitimate criticism with humility and merely explain your position, OK?

If there are several critical comments, it is not necessary to respond to every single one individually. Give a well thought-through general statement and show your followers that you really care about them. And then, and that’s really important, analyze what mistakes you made to prevent them in the future.

6. Share other Content!

Rather than always to post your own content, you can and should also link to post created by others. However, the problem remains that you have to consider first whether the post is relevant. The posting you consider to link on you pages must be related to your own sphere of expertise as well as relevant to your audience. Prevent to be perceived as just another “Retweeter”.

7. Do not just share Business Content!

There is no reason to hide the human side of your company, to the contrary! Is there a BBQ or something extraordinary in everyday life which was photographed or filmed by your employees?  Publish it! Such content always conveys a positive image.

8. Set a Weekly Trend!

To share something once a week at a given time will set a trend that will be rapidly picked up by your followers. This could be for example a specific content or an “offer of the week” if you run a retail establishment. Trends always spread and will bring traffic and increase customer loyalty.

9. Guide Users to your Profiles!

It’s great to promote yourself through social media but it shouldn’t stop there. It is equally important to draw attention to your platform from the outside. A great way to do this is to create an e-mail signature with direct links or to put QR-Codes on letterheads and business cards. There is also nothing to be said against a “like us” link on your website.

About the Author: Foxfang Digital Solutions is the leading provider of online marketing solutions in India, well known for running highly popular and effective campaigns across all platforms. Have a look at our website: www.foxfang.com or contact us directly: info@foxfang.com

Follow us!

FACEBOOK: http://www.facebook.com/Foxfang.consultants

LINKEDIN: http://www.linkedin.com/company/foxfang

TWITTER: https://twitter.com/FOXFANG_DIGITAL

YOUTUBE: http://www.youtube.com/user/foxfangdigital

Social Media Marketing vs. Traditional Marketing

Seven Golden Rules for Facebook & Co

SOCIAL CODE OF CONDUCT

By now, Social Networks are part of our daily routines like the cup of coffee in the morning. In the past, if you wanted to stay in touch with friends and family or wanted to track down old acquaintances, you had to grab the telephone handset or hire a private investigator – Thanks to Facebook, Google+, MySpace & Co. these days are definitely over!

But as with all social interactions there are behavioral codes: Who ignores them can ruin his image faster than a loose lipped politician.

It goes without saying that you have to refrain from using insults, racist remarks and random threats of violence. The Internet forgives and forgets nothing, that’s a fact. This is why you should keep an eye on personal information and correct conduct. For many employers it became a routine part of their evaluation of future employees to check the social networks to make sure they got the right candidate. See below some very important codes of conduct.

1. Use Your Real Name

At least in business networks such as Linkedin or Xing you should avoid using pseudonyms. I know that this probably causes an uproar with people who are really conscious about privacy concerns. But the use of nicknames such as “cuba_libre” or “bangkok_john376” is unprofessional in the professional world. Not to mention that it makes it harder if not impossible for potential employers or business partners to find you. There is also the big advantage that you think twice before posting something online when you use your actual name.

2. Keep Your Cool – Insults and Abusive Language are Taboo!

Did you have a bad day at work? Is your inflexible department chief going on your nerves or did you get criticized by your boss? Everyone is frustrated every now and then, that’s normal! It’s not normal though to blow one’s steam off on social networks. Never forget that social networks are more or less public! You wouldn’t be the first one who’s lost his job because of rash comments on Facebook. Ensure that it doesn’t get personal when you express your opinion. Especially when you come back from the pub on a Friday night and had a few after a hard week in the coalmine, better go straight to bed and don’t log in to you preferred social platform.

3. Be Careful with Pics and Vids

If you use your Photoshop expertise to paste your bosses head on the body of a monkey, please don’t post the resulting artwork online! It will be only funny until your boss gets tagged by a jealous co-worker. Also do not get too enthusiastic about video content – Not everybody can laugh about everything! On one side it’s great to have pics of yourself posted on Facebook, Myspace & Co, but pay attention to what these pics project and who else is to be seen on them.

4. Release Information targeted

Use friends lists (on Facebook) or circles (Google+) to filter who sees what. There is also the possibility, if this is to complicated and time consuming, to create different profiles on the same platforms for private and official use. 

5. Arrogance is out of Place on Social Networks

“Be humble” my parents and grandparents used to tell me; to be honest, they had a point there! But there are many users who think that this rule doesn’t apply to the internet and its social networks, To continuously boast with your successes and (existing or imaginary) expertise is not well-received by most other users. If for example somebody posts a question in a forum, the “use the search feature”-answer or RTFM (use the search featureJ) is not only rude but outright offensive. If the question was posted and answered before, guide the new user to the respective thread and do not offend him/her, OK?

6. Be careful with Online-Dating Sites

Online-Dating is either a great thing or a total disaster. Most of these sites are built similar to Facebook but the big difference is the profile pics. The picture on dating sites is in average 10-15 years old. If you follow this trend and also upload ancient photos because you looked more attractive 20 years ago, you might get more response but the actual date will be rather short. In each case you have to be very careful with dating sites; do not give up too much information about yourself and realize that not everybody on these sites is there because they seek eternal love or a lifetime companionship.

7. Always keep your Job in Mind

It’s none of your bosses’ business what videos, pics or comments you post online? WRONG! Let’s say you have direct customer contact and the said client knows you by name…. this and many other facts you should always keep in the back of your head because to a certain extent you always represent the organization you’re working for.

You don’t want to ruin your image or provide too much information to data collectors, do you? My advice: keep you digital footprint as small as possible. You don’t have to be registered on EVERY single social network! Keep your personal data organized and don’t divulge too much about you. Use your common sense and think about if you can still stand behind what you post today in 5 years from now. Always apply the golden rule: think first, type later! Because the internet forgets nothing……

.

Social Media Strategy - Implementation - ROI

The Planning of your Social Media Strategy

Implementation of your Social Media Strategy

How to Measure the ROI of Social Media Marketing

copyright 2012 foxfang infographix

5 Killer Social Media Strategies