Social Media ROI
We need to be aware that the i in ROI does not only refer to money.
Every time we meet with a client a main concern is ROI, specially now when everybody wants to succeed in Social Media. Generally in presentations with CEOs, General Managers and Heads of Marketing we end of talking about ROI because: "Everything can be measured on the web, in real time. that's what Big Data is all about, isn't it?" Under this precept they want, they need they DEMAND immediate Return of investment information..
What nobody seems to notice is that the i in ROI does not only refers to money. What is invested in every project is also time, experience and above all execution. If you want to be the best this is what you must invest. If you are going to make money doing something you have to be great at what you do in order to achieve the projected results.
We have the best success or failure indicator right in our hands. What does everyone has in his hands? a mobile device! It's right on our bedside when we go to sleep and it is the first thing we touch when we wake up. And surely we are checking our Social Media profiles. We watch TV, well video, on NETFLIX or YouTube and even if we are in front of the TV we have our mobile and we are checking and posting on Twitter or Facebook. When we watch an Ad we immediately go to their site or search on our network of friends maybe even Google it to get as much information as we can before making a purchase decision and then we buy it via the web.
Even when we are aware of this, that our attention is centred on Social Media, Brands keep investing in traditional media most of their ad budget. TV still gets the biggest chunk of the investment.
Social Media is where people are, brands have to be there to connect with their audience.
When we talk about Social Media we have to know each one, not all Social Media is the same, people are using it differently and for different things. We have to know every bit about them.
Developing the perfect combination between creativity and strategy is what we must achieve.
Understanding what audiences talk about among their contacts in Social Media, what are their interests and what they need, engaging in the conversation and, must importantly, adding valuable content is the best way to reach a goal. Then we can start to talk about ROI