- Social Media ROI By Olivier Blanchard (serve4impact.com)
I did read the book a time ago. Time for some promotion
Top branding and marketing expert Olivier Blanchard brings together new best practices for strategy, planning, execution, measurement, analysis, and optimization. You will learn how to define the financial and nonfinancial business impacts you are aiming for – and achieve them. Social Media ROI delivers practical solutions for everything from structuring programs to attracting followers, defining metrics to managing crises. Whether you are in a startup or a global enterprise, this book will help you gain more value from every dime you invest in social media.
Reading Olivier Blanchard‘s Social Media ROI I saw this awesome infograph.
This post was written originally for Valeria Maltoni’s excellent new ebook about marketing in 2010. It includes terrific, thoughtful insights from Shannon Paul, Olivier Blanchard, Danny Brown, Amber Naslund, Jackie Huba, Gavin Heaton, Mark Earls, Rachel Happe, Jonathan MacDonald, and of course Valeria herself. Download it for free right here.
Marketing has changed a lot since an enterprising caveman promoted his arrow points as “superior in every way – mammoths don’t stand a chance.” But, the real-time Web will change marketing more in 24 months than in the proceeding 20,000 years.
That’s because the real-time Web and its social media gasoline fundamentally change the relationship between company and customer. Every marketing shift heretofore has been rooted in the company being able to reach its customer in a more impactful (TV) or more efficient (demographics and psychographics) fashion.
Everyone is putting their predictions out. Mine are always partially based on my work as well as the trends.
1. Companies will expect ROI from their Social Media efforts.
Social Media will shift from being experimental to mainstream. Larger organizations can’t justify embracing it without having it meeting their business objectives. It has to increase their bottom line. I have been working on an ROI series and that will kick off in January. It is possible to establish metrics around your efforts and measure progress! Can you afford not to? How will you grow your program and justify the resources if you’re not showing the progress & return? Olivier Blanchard has a great slide deck on Social Media ROI!
2. The Social Media Specialist (Community Manager) position will become mainstream.
Companies are going to quickly find that they need someone to guide their efforts externally and internally. Social efforts should be extended across the board.Jeremiah Owyang had a great post on how companies should plan a holistic approach and use social beyond marketing. My series will address that and it’s the foundation for my work at Alterian. My list of Responsibilities and Goals for a Community Manager continues to be my most read post.
3. Cultural shift inside of companies.
This is going to be a challenge for many companies. In order to be successful in connecting with customers, organizations are going to have to have communications channels in place and the openness to utilize the information. I shared a diagram of how a community manager can increase sales & the many departments affected. Management is going to need to have a level of trust for their employees interacting online and understand that the risk can be mitigated by education & training.
4. Social Media Monitoring will be a necessary component
My colleague, John Tonini, made the prediction earlier this year that the market would shift from brands wondering if they should be monitoring social media to ‘What tool should we be using?’. 2010 will see a huge shift in the adoption rate of social media monitoring. January of 2009 kicked off a wave and I foresee that growth in the industry continuing. The tools are going to evolve quickly too. Our customers are driving that process.
5. Agencies and companies will hire data analysts
A new position is emerging. My favorite title is Social Media Metrician. Social Media monitoring tools don’t drive themselves. They need more than a human touch. They require people who enjoy digging into the analytics aspect, looking for patterns and trends. Web analytics people will be able to expand on their roles. Brands and agencies are going to need this new specialized position to drive their marketing intelligence. Marshall Sponder lists many predictions in regard to the role of the data analyst in 2010.