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by Mary Henderson

on Mar 25

Return on effort with social media

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We all know social network marketing is the buzz right now. What do I do? How do I do it? I need help? Bla, bla, bla. If you are a marketer then social media marketing is no doubt a part of your total communications strategy and within that strategy there is a heading titled ‘Social Media’ – but the voice in your head asks: ”What will be my ROI?”; “How do I justify this spend and how will it be measured?”

OK. I am here to tell you that ROI is yesterday’s news and today the real question is ROE: Return On Effort! Yes, ROE! Why? Because social media marketing requires creative ideas, content creators, content pushers, content managers, data analysts (for major campaigns), external resources to push content, etc. You can’t just create a Facebook page and expect one million sign ups. It just doesn’t work like that.

So listen up, here is the deal with social media marketing. It’s a major effort for ‘some’ kind of return. The return on your efforts could be measured by changed perceptions and or increased awareness. They key to your return is the creative idea. Social networking is all about connecting you to your constituents and your constituents with constituents but you must be able to provide value. How do you do this? That’s the million dollar question.

If your company moves products then you may think about engaging digital influencers such as famous bloggers, famous twitterers, etc. Give them products to review, use and experience and get them to write about their experience – good and or bad every day for a period of time. Imagine the real dialogue you will be able to access. Imagine the opportunity to be able to get to know your customer. A brilliant social media campaign can also have a positive domino effect such as increased impressions on your website, increase in customer service enquiries (online and offline) and even an increase in sales. All of these can be measured. You may be asking isn’t this ROI? Yes it is but you need to put in effort and resources before you can measure ROI.

7 Comments

Clive Hawkins
  • Wrote on 25 Mar, at 05:24PM
Not another TLA!! An interesting argument Mary, but of course all effort also reflects a cost (at least in business) so the investment is ultimately the same. However, I agree that it's becoming harder to measure the input and the output from this form of marketing.
John Soulliere
  • Wrote on 26 Mar, at 01:22PM
Hello: I do find social media a very good place to find out what your customers want. As far as any thing else, schools still out with me. Thanks for your Insight.
Alv
  • Wrote on 29 Mar, at 09:42AM
effort is investment...man hours are quantifiable
thelostagency
  • Wrote on 29 Mar, at 12:41PM
Ah return on effort it almost makes it sound like social media requires more than just opening a Twitter account and upload a company logo to a Facebook fanpage. The point is to step lightly and watch how users/consumers respond to your content as social media is not one that responds well to forced interactions or oversold messages...

Great simple messages, almost makes it appear that social media is moving towards an actual part of your digital strategy and not just a bolt-on or supersize meal option.
John
  • Wrote on 30 Mar, at 03:39PM
Social media brings a different type of traffic to your site. Usually these people are not in the buying cycle so you need to engage with them differently. If you are too pushy, especially on facebook, you will lose friends quite quickly.
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HW Chartered Accountants
  • Wrote on 2 Sep, at 12:39AM
Totally agree, but the trouble is you can't track everything 100%, 100% of the time. I'd love to double x = double profit.

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