There’s no debating it; social media is hot. It’s still growing at a phenomenal rate and the dollar figures associated with it are just as impressive. Forrester Research predicts Interactive marketing spending in the US will more than triple over the next five years, reaching $61 billion by 2012 and spending on social media alone will grow to $6.9 billion as marketers understand how to use and measure this channel. All of this momentum brings to light a universal challenge that executives, marketers and social teams face today—measuring their Social Media ROI. Like all aspects of business, social media needs to be measured and analyzed so that you can evaluate it in relation to other programs and improve on it over time.
Before launching a social media program, it’s essential to clarify success metrics and goals. While much of ROI focus is on the goal of making direct conversions, it is important to emphasize that social media is primarily about building new relationships, generating word of mouth marketing, and strengthening brand loyalty with your customers. Read more…
Best Practices to Manage 6 Social Media Threats
Posted by Jackie Kmetz on January 12, 2012While social media has presented a new valuable and effective means of connecting with and learning about consumers it has also brought with it potential threats that organizations must prepare for and handle whether they are actively participating in social conversations or merely watching from the sidelines.
Previously, we discussed six social media threats that present real risks for enterprises. Now we will discuss best practices that you can implement to mitigate and even eliminate these threats when possible. Of course it isn’t reasonable to think you can plan for every situation that may arise, but by setting the stage ahead of time and taking the necessary precautions, you can minimize the impact should something occur.
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