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Signs your organisations social strategy needs a refresh

Dr. Anderson Uvie-Emegbo | credits: File copy

Once I was sitting with a group of experienced digital and social marketing specialists. As expected, the discussion turned to the state of their digital marketing initiatives. The common thread among these digital drivers was that it was becoming harder to sustain the level of interest their fans on social media had with their brands.

More worrying was that their digital and social marketing spending has been increasing over the past two years. It was time for a reality check. It was possibly time for a digital and social media refresh.

Keeping an organisations digital profile consistently on the fast lane can be an epic battle that sometimes defies the smartest of teams.

Like my friends, here are some ways to tell if your social media strategy needs a refresh:

Your fan base has stagnated

This is right. A brand I know was adding about 1,500 unique members weekly across its social community about a year ago. In the last few months, it has struggled to gain 30 new fans weekly. Where did all the growth go?

How much of the brands growth was organic? (Not much). How much of it was induced and sustained by paid digital marketing activities?(Most). What was the plan for growing its fan base through earned and owned media? (Cant say and if there was, its execution was suboptimal)

Even more important is the quality of its new fans. In the initial stage of growing a social community, the temptation is usually there to grow the numbers rapidly. Quality is sacrificed for quantity. I have always maintained that it is better to have a fewer and more passionate fans than to have many but disconnected fans. Quantity can become a distraction and it can give an undiscerning brand or its managers a false sense of achievement. If the growth of your social community has stagnated, do not despair. This may be the beginning of better things for you and your organisation. It may be a call to start afresh and achieve a better outcome this time.

It is only when digital and social goals align with overall corporate goals that social marketing becomes a business asset. For this to happen, every organisations social efforts should focus on attracting and retaining peculiar persons that fit into the profile of its target audience. Every other person is surplus to this requirement. Do not keep the excess baggage you are carrying. It is time to travel light. Let us stay focused.

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Signs your organisations social strategy needs a refresh

Tweet This: Social Media Important To Company Performance But Difficult To Prove

New results from The CMO Survey point to this disconnect. Social media spending is currently 9.4% of marketing budgets and is expected to increase 128% to 21.4% in the next five years (see Figure 1). However, the 351 marketing leaders responding to August 2014 survey overwhelmingly report that proof lags spending and only 15% of marketers report their companies can show the impact of social media using quantitative approaches.

Whats the buzz? Companies experienced a 25% percent increase in sales through the Internet in the last yearfrom 8.9% to 11.3% of sales. There does appear to be a sizeable opportunity in reaching customers through the Internet that underlies this spending push. Consistent with this view, digital marketing, more broadly, is expected to increase 10.8% in the next year, while traditional advertising budgets are predicted to decrease 3.6%. In other words, there is a signal in all this buzz. Figure 1.Social mediaspend as a percent of marketing budgets

Pinning it down: Demonstrating the effect of these spending increases on businesses remains a challenge. Forty-five percent of marketers have not been able to demonstrate this impact at all while 40% have qualitative proof only. Getting that all-important quantitative proof, which only 15% have, is essential to justifying this spend. Figure 2. How companies demonstrate the impact ofsocial mediaspend Doing so will likely require more spending on measuring marketing ROI. Survey results indicate that companies spend only 2.3% of marketing budgets on measuring marketing ROI. It will also require companies to rethink the way they approach such measurement. Survey results also indicate that only 11.9% of companies surveyed use experimentsa method that allows marketers to know with certainty what, whether, and to what degree social media spending impacts performance.

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Tweet This: Social Media Important To Company Performance But Difficult To Prove

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