This article is the third in a series of ongoing extracts from Econsultancy's new Internet Marketing Strategy Briefing. The free-to-download report covers the most important online trends in digital marketing that currently occurring.
Topics covered within the document include customer centricity, channel diversification, data, social media and content strategy.
This extract, written by Econsultancy's US Vice President of Research, Stefan Tornquist, focuses on the ins and outs of measuring social media.
Forget 'audience', 'unique visitors' and 'page views.' Thanks to social media, more and more brands are looking to base media buys on new metrics like 'influence.'
Take, for instance, the brands that are turning to the Influencer Network put together by Condé Nast's Vogue.
AdWeek describes the Influencer Network as "a panel of some 1,000 women deemed to have sway over other women, based on how active they are on social networks like Facebook and Polyvore, a fashion site where people create collages of outfits and share them with other members."
A key part in creating a social media strategy is
to ensure that you have a coherent set of measures that align with that
strategy. But how do you prioritise the multitude of measures that are
available to you?
Which is more valuable - a Facebook "like" or
a twitter follower? This article seeks to set out why and how you can go about
defining this for your own brands.
Marketing metrics are so often delivered as raw numbers. They do not help. Gleaning meaning is the art of the analyst and it's not done nearly enough.
Marketers and publishers are excited about the tablet boom. But there are signs that tracking audiences (and ads) across all these mobile devices will be more difficult than initially thought.
There's already concern about the accuracy of online traffic stats from companies like Nielsen and comScore. How can advertisers and publishers trust that their audiences will be measured appropriately on an iPad, Samsung Galaxy Tab or other mobile device?
What is the most valuable asset a business has? There are a number of
potential answers, but for most businesses today, one of them is 'data'.
Thank technology for that. Most businesses, no matter what industry
they're in passively collect data that can be analyzed to provide deep
insight. From point of sale systems to computerized record keeping
software to web analytics solutions, businesses have a wide range of
tools that collect data on a 24/7 basis.
Metrics matter. After all, if you're running a business, it's hard to make good business decisions if you don't have data on which to base them.
Those who run businesses on the web are often blessed with a plethora of metrics, and plenty of tools with which to collect them. But putting metrics to good use requires looking at the right ones, as two popular websites demonstrate.
Earlier this month, social media darlings around the internet were singing the praises of Old Spice, with Mashable claiming that the now infamous campaign was the "future of marketing" and that the agency involved, Wieden + Kennedy, had set a "standard marketing experts will admire and follow in the years to come."
Now, various marketing blogs and online news sources are reporting that sales have "fallen by 7%." But, with barely a week gone since Mr Old Spice conversed with "everyone" on YouTube, is it simply too early to predict ROI from the campaign?
Looking at the numbers, it seems the original analysis of the drop in sales may be flawed, given that it's somewhat premature to announce a verdict about the campaign's success or indeed, failure at this stage.
Many businesses are increasingly comfortable with social media, and many more have decided that social media is far too important not to experiment with.
But the growing level of maturity in the world of social media doesn't mean that mistakes are uncommon. To the contrary: many businesses make the same mistakes over and over again. Here are 10 of the most common.
Bleak times ahead for email according to Gartner, which is predicting
that social networks will claim a growing share of communication among
Seems plausible enough, though any reports of the death of email are
somewhat premature. But can social networking sites claim the
communications crown before this decade is out?
Gartner says: “By 2014, social networking services will replace e-mail
as the primary vehicle for interpersonal communications for 20 percent
of business users.”
Cue much head shaking among the email services providers at TFM&A
this week. I asked a few of them to fight their corner, and to provide
an alternative view on the future of email.