Posts Tagged ‘Social Media’

State Of Inbound Marketing: Report

April 27, 2010

I read the following headline regarding a report on the state of “inbound marketing’ –

Major Social Media Channels Provide Leads to 4 in 10 Companies

Then comes the paragraph below:

More than four in 10 companies overall have acquired a customer from four major social media channels. Forty-one percent of companies have acquired a customer from both Twitter and LinkedIn. That figure rises to 44% for Facebook and 46% for a company blog.

Whether by design or oversight, the following three simple words explicitly sum up the value proposition of social media as a marketing channel:

“…acquired a customer”

Notice how their study doesn’t say social media channels predictably acquire customers, it says “acquired a customer”… yep just one customer.

Until social media channels can predictably acquire customers, social media should change its name to social messengers.

When the majority of social channel users can predictably acquire more than just one customer social channels can then call themselves media.

Until then, the social channel will remain just another type of digital salesman.

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Marketing Budget Changes: Where’s Social Media’s ROI?

March 13, 2010

More from eMarketer about Marketing Budget allocation shifts:

…even though marketers are on board with the idea that social is key to their overall strategy, many are sick of hearing about it. In addition to being one of the most important buzzwords, social media was considered the most annoying, with nearly 30% of executives tired of it. Twitter, specifically, got on the nerves of nearly 15% of respondents, and social networking rounded out the top three trends marketers were most tired of hearing about.

Regardless, social spending will increase. A separate survey of US marketing execs by Ad-ology indicated social tactics were the most likely to increase in 2010.

Marketing Budgets

Marketing Budgets

Surely executives growing tired of hearing about social media, social networking and the Twitter brand specifically doesn’t bode well for the nascent space or the Twitter brand’s monetization potential.

How can social media reconcile itself with the fact that marketing executives’ chief concern is Marketing ROI while social media and social networking have yet been able to deliver consistent measurable ROI to marketers?

I wonder how many executives have grown tired of hearing about Google and search engine marketing results?

Advice to Client Regarding Social Media and Online Display Advertising

September 14, 2009

The following is my response to a request from a client regarding my opinion on social media and online display advertising.

There seems to have been an uptick in the number of recommendations suggesting businesses begin or increase their budgets for social media and online display advertising campaigns.

Dear Client,

The efficacy rhetoric of both social network and display advertising  is increasingly on the rise as Microsoft/Yahoo and Facebook/Twitter attempt to attract more display brand advertising dollars from traditional media who are losing the war for the consumer’s attention.

The social / display advertising camps wouldn’t have to be selling their merits – if their results did their speaking for them.

The reason the former don’t is because their product produces inferior results while the latter has yet to yield any results if any results at all.

These are some of the reasons why the Yahoo/Facebook/Twitter market cap / value is 1/8 Google’s $150 Billion.

However, as with everything else – there are exceptions.

I have had a small percentage of deals convert with display while others have not.

Testing is the only way to prove or disprove whether or not display advertising will work for a particular business.

Display ads can be geo-targeted but its not as precise because it relies on other publishers data and it can have placement, targeting and measurement issues.

The first thing to do is to test whether text ads convert in their display network first. If so, then try image / display ads.

Unless of course a testing supports and fulfills a brand’s impression objectives in target markets and isn’t held to the same level of results performance as search.

If a display advertising test meets its objectives, then launch trials with Yahoo / MSN publishing partners.

Social Media’s Return on Investment?

June 17, 2009

I was fishing in the Tweet stream yesterday when I caught the following job posting for a social media coordinator.

Social Media Coordinator

Social Media Coordinator

Several attributes of this job description struck me as odd if not misinformed.

The job description sounds more like a wish list composed by someone in Human Resources rather than by someone who actually knew what they were requesting.

The idea that the future Social Media Coordinator position holder has to report to the “Manager – Interactive Projects” runs counter to the list of skills the job description requires.

Any individual who has experience performing the following “social media” laundry list of tasks   including the non-social media related disciplines of search engine optimization and web analytics while generating a return on investment would by definition already be a Manager – Interactive Projects – if not considerably more.

Responsibilities of the position will include the support of Interactive initiatives regarding online Social Media (SM), web analytics/research, news distribution and Search Engine Optimization (SEO).   In addition, responsibilities of this role will include:

·         Strategy, planning and direction to content managers and maintenance of Social Media initiatives including Facebook, Twitter, LinkedIn, MySpace, YouTube and others

·         Educating consultants regarding new technology and the Social Media environment

·         Utilizing technology to research and measure company Social Media status and ROI

·         Interaction with corporate and regional company representatives to promote news and activities of the company

·         Management of all company related Social Media registrations

·         Providing regular reports of web site traffic analytics

·         Interaction with company Studio Team to manage and promote a variety of news and activity videos/broadcasts

The position’s “Utilizing technology to research and measure company Social Media status and ROI” requirement indirectly poses a valid question yet one few if any company’s understand or can let alone quantify – “What is the Return on Investment in Social Media?”

Any search engine marketer or SEO worth their salt can answer the Return on Investment question, I doubt a majority of the new breed of social media marketers can.

MyGofer.com: Research and Purchase Online, Pickup Offline

May 6, 2009

I read with interest yesterday a story in the Wall Street Journal about Sears Holdings Corporations annual shareholder meeting.

Chairman Edward S. Lampert Chairman said that while he expects most Sears sales to continue to occur in brick and mortar stores, he would increase investment in internet experiments.

According to the Wall Street Journal, Lampert’s goal is to capture the attention of shoppers at the crucial moment when they begin to discuss purchases with friends on social-media web sites and to research buying choices online.

Lampert said, “We want to make sure we don’t become completely irrelevant as people’s way of making decisions changes. The goal is not just survival, it’s progress.”

Toward that end, Lampert said the company may expand their MyGofer.com concept.

MyGofer.com

MyGofer.com

MyGofer turns some stores into pickup locations for online sales while trying to bridge the gap between online sales and traditional stores.

Sears owned Kmart unit also disclosed plans to let shoppers pick up merchandise at Kmart they have bought online.

From MyGofer site:

What is mygofer?

We believe shopping should be on your terms. That’s why we’ve created a simpler, more flexible, just plain better way to shop. We believe in giving you options. Lots of them. We believe you should be able to get whatever you want, how you want and when you want it. We’re designed to give you more choices to make shopping faster and more convenient.

We want to become your ultimate one-stop destination. We carry a broader assortment than the traditional retailer – including everything from groceries to clothing to electronics to appliances. Our assortment is designed for you, giving you everything you need in one convenient spot.

mygofer will evolve based on what you buy, and what you ask for. By listening to you, we will only get better.

What can I find at mygofer?

Pretty much everything. From toothpaste to tools to t-shirts, we have 1000’s of your favorite brands, all at one location.

Imagine Saturday morning errands taking minutes instead of hours. Imagine what you could do with all that extra time.

More choices, made easy- at competitive prices a broader assortment at your fingertips.

You did not find what you were looking for? mygofer is designed to give customers more options, but also designed to make sorting and shopping through more options easy to navigate with features like shopping lists and quick shop. Our expanded assortment gives us the opportunity to showcase great products designed to meet a variety of budget ranges. Given our expanded network, we will leverage opportunities for additional savings through special discounts, clearances and short-term price adjustments.

The correlation between researching online, buying online and buying offline have long been documented and discussed by the internet and search engine marketing community.

To truly make Sears relevant to buyers who have begun researching their buying options online, Sears Holdings Corp. ought to first consider expanding the keyword terms they bid on in Google.

Bidding just on branded terms like Kenmore and Craftsman while not bidding on appliance and power tools keyword strings like their competitors do by definition makes Sears less relevant than they could be.

Once Sears and Kmart get in the search paid and natural game, they should then have someone who knows what they are doing fix and optimize their websites.

SearsPortrait.com’s home page title tag says – you guessed it: Home!

SearsPortrait.com

SearsPortrait.com

Sears may not own the SearsPortrait.com site and business. For all I know it could be leased.

However, I am certain the new MyGofer.com site is owned by Sears Holding Corporation.

It too, can use some attention and optimization if it hopes the online audience will find the site while researching where to buy products online.

My Gofer Search Result

My Gofer Search Result

Linkedin Plus Twitter Equals Who Knows What?

November 1, 2008

I just added my Twitter account into my Linkedin account profile after noticing Owen Frager had added it to his “what he is working on” Linkedin updates.

Twitter TimCohn

Twitter TimCohn

Pretty cool Owen…

Linkedin TimCohn

Linkedin TimCohn

I had been meaning for some time to write about the importance of “owning and controlling your brand” whether personal or corporate in the most promising emerging social platforms for both offensive and defensive purposes

Appropriately, I first became acquainted with Owen after having posted on Domain King Rick Schwartz’ blog

Name.com

Name.com

about how I missed the first offensive opportunity to control “my personal brand” – albeit my not so unique name – on that newfangled social platform called the world wide web way back in 1996.

Tim Cohn

Tim Cohn

Granted, its hard to gauge in advance which social platforms will have the largest audience and reach after filtering out all their noise.

However, not registering your “brand” in their databases early on can lead to remorse later on.

If you haven’t done so already, register your own brandname.com / companyname.com and create accounts for the same names in MySpace, Facebook, Twitter and Flickr – if you can…

The same holds true for individuals.

Sign up for a Linkedin account under your personal brand: your name.

Don’t be disappointed though if you can’t. If yours is a common name – it surely has long since been registered.

Registering your brands with these sites may not make you any money in the short term, but if and when social media platforms ever figure out how to make money for themselves let alone for their advertisers and users, wouldn’t it be better for you to control your brand name(s) on the most successful social media sites instead of someone else?