As I’ve been able to travel and meet marketers all over the U.S. and in other countries, I am always interested in learning how companies are viewing the value of their social media efforts.
Marketing investments should be predicated by more than chasing the competition, satisfying someone’s ego or acting solely on a gut feeling. A good handle on goals, resources and target audience help determine strategy and tactics as well as how outcomes are measured. This is the case with even the most fundamental of marketing programs. With that kind of basic framework, implementing and measuring value from social media shouldn’t be that different.
Because so much actual marketing is tactical, many companies see social media simply as another of those tactics and evaluate one-off promotional efforts for ROI without considering the bigger picture. It’s very much a situation of not seeing the forest for the trees.
Instead of the simple math of calculating cost per views, comments, Tweets, Likes, links, visits, mentions etc, I think there are some important questions to consider:
- What was the business goal for the video?
- Did the video reach influencers of customers?
- Did the video reach customers?
- Did the video influence behaviors that could result in business outcomes?
- How does the video fit within other social media communications?
- Will there be more than just one video?
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