Let’s talk about budgets.
It took a while.
Even though tens of millions of users were flocking to social media sites every day, most marketers stayed away. They either didn’t understand how to join the conversations—without sounding like shills—or they were frightened away by the prospect of associating their brands with questionable content.
But things are changing.
Companies are learning how to leverage social media and tap into the rising tide of consumers participating in social network sites, blogs, wikis and Twitter.
According to the “The ROI on Social Media Marketing” report from the Aberdeen Group, sponsored by Visible Technologies, marketers have developed the tools and methodologies to drive marketing ROI by listening to and learning from customers and prospects.
Originally posted on emarketer for the rest of the article go to http://www.emarketer.com/Article.aspx?R=1006989
Package-Goods Brand Earns $1.28 Million in Sales From $1 Million Social-Media Campaign
Package-goods brands are still cautious about social media, figuring that the return on investment can’t be accurately measured. After all, marketing on Facebook or MySpace might generate a conversation but not necessarily a sale. Now, however, a method is emerging to relate one to the other, potentially eliminating a major impediment.
Read moreIn the new marketing and media ecosystem, some will fail, some will thrive, and all will have to evolve.
In 2007, Hewlett-Packard Company (HP) sponsored an online contest to design the skin of HP’s new special-edition entertainment laptop. The company promoted the contest selectively in 13 countries via the television, Web, and mobile channels of its media partner, MTV Networks. But word spread virally, and more than 8,500 entries poured in from 112 countries in just over a month. The contest site got more than 5 million hits, prompting HP to re-forecast sales to five times its original estimate. And it was “all because we opened the doors and allowed our customers to design our products,” says Mike Mendenhall, HP’s chief marketing officer.
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ROI is a hot topic.
Discussions surrounding the return on investment of social media have been prevalent lately, and with good reason. In a tightening economy, businesses are scrutinizing their spending and anxious to ensure that their resources are being allocated wisely.
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There’s so much talk about social media that it is easy for people to become cynical, perhaps losing track of the fact that it can have a positive impact on your business.
So how can you determine whether a social media strategy is proving beneficial to your business? How do you know that it is working out for you? And is now really the best time to find out?
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Social Media’s ’Gee-Whiz
Factor’ Must Die: Time to
Get Down to Business
Social media is cool! Blogging and podcasts are cool! We’re so cutting edge! Twitter is like the future here today, and no one knows about it!
Yeah, whatever.
The people looking at social media long and hard fall into a few camps, and I’m writing this for those who are scrunching their noses up and asking, “how exactly does this improve my business?”
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PR Spin: Social Media Facts
It’s apparent: social media has exploded to the masses. The WWW of social networks and applications have made a huge impact in the business and online PR world. Stretching from the Twitter accounts of Obama, Brittany Spears and Fox News to the Facebook Fan Pages of Victoria Secret, Target and The Buyer Group.
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The Latest Social Media Buzzword? “Sponsored Conversation”
If you’re a regular reader of blogs – which we hope you are (you’re here aren’t you?) you may notice that occasionally something called a “sponsored post” pops up in a blog’s newsfeed. Sometimes the post is written by the sponsor themselves and sometimes it is written by a writer at the site.
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