Social Media ROI with Custom Campaigns and Google Analytics

Social Media ROI (Return on Investment) is the elusive 3rd-rail of social networking. It’s elusive in the sense that there is no absolutely agreed-upon industry-wide calculation to use. It’s the 3rd rail because that’s where all the power is. Social media managers don’t want to be judged by a set of metrics that might not reflect the true “value” of the social media channel(s). Social media brand managers are focused on building communities and building attention rather than focused on delivering to the bottom line.

Unfortunately, this leaves many executives with an uneasy feeling that all this tweeting, “liking”, and pinning is just an act of futility without anchoring anything to a real bottom line.

It’s clear that there is¬†and ROI in there somewhere – but how can it be measured?

Building a Set of Success Metrics

I’ve chatted with many customers & friends (often from the SMMOC crowd) about the SMROI issue, and the first thing that becomes obvious is that for some reason basic marketing practices get tossed out the window. I don’t know why it is – but SM is merely an extension of the existing branding / PR / Sales / Advertising / Promotion channels that have existed in all businesses.

Advertising using Google Adwords is perhaps the antithesis of Social. Social is about building relationships, attending to customers on a one-on-one level, and fostering a sense of community within the social-sphere. Adwords is the opposite. It’s about reaching a customer at the crux of their decision-making process: At the point they’re searching. The website is responsible for the rest.

So, the challenge becomes building a set of metrics (quantifiable) that operate within a personalized space (qualifiable responses). Continue reading Social Media ROI with Custom Campaigns and Google Analytics

The Shifting Social Landscape

Building a digital “home” in the social landscape is much like building a physical home – on quicksand. If you don’t believe me – let’s look at some of the trends that have happened over the summer…

Facebook’s IPO Woes

Let’s face it – Facebook insiders played the market like a well-tuned guitar. All the insiders got in on the action pre-IPO, and the retail investors were buying their exits during the IPO (and as insider shares become “unlocked” like Peter Thiel’s). But more concerning is the underlying challenge to value a social media company.

Remember – and this is important – in the social media space, the “users” are not the “customers“. Continue reading The Shifting Social Landscape

SMMOC in the Summer! 8-27 Roundup

Finally managed to find the time to get back to another SMMOC meetup. It may be hot outside and windy on the East Coast, but at the Lab it’s social media masterminding.

Oscar GonzalezOscar Gonzalez – @notagrouch
.@stabitha just explained how the FB sponsored stories. Pretty cool. Similar to sponsored Tweets on Twitter. #SMMOC

Started the morning off here at SMMOC with a quick summary of Facebook’s -other- ad offering; sponsored stories.

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Continue reading SMMOC in the Summer! 8-27 Roundup

Why Artists Need To Think Like Startups

Over the past week, I’ve been buried in development work (both code & business), and like I so often do when I’m tethered to my computer – I’ve sought out some new music to jam me through my days. Now sure, I’ll be the first to admit that apparently my taste in music is somewhat limited – I can typically find music I like in the “clearance” bin at Amoeba records (when I make it up to the bay). I am a bay area kid of the 80’s and 90’s, and my taste in music is probably stuck in some sort of post-Nirvana, “classic”-Soundgarden phase that will stay with me forever.

But when I look around at the music choices that are available to me today, I don’t see an abundance of real revenue-focused innovation. I see the same games being played as they were a decade ago. Continue reading Why Artists Need To Think Like Startups