Sunday, March 11, 2012

It's New Media, But You Can Measure ROI Using Old Tools.

What would happen if you submitted a marketing plan without a bullet-proof measurement strategy? You'd see a suddenly surly CFO fire it back to you in a body bag. He or she wants to see evidence that you're making a sound investment for the business. A CFO won't make decisions without reliable metrics based on time-tested performance indicators. 

So why do so many sane, rational marketers think they'll get a pass when it comes to social media? 

Since social media first stormed into town and changed the rules of marketing, some of the savviest marketers have believed that they needed to change the rules of measurement to quantify its impact on business. On the surface, it makes some sense. "Social" was a new conversational media that marketers couldn't control. Peers, not marketers, were a primary influence on brand perceptions and purchase decisions. A brand could create positive buzz by doing something outrageous online or by pushing out viral videos and hope they took off like the next subservient chicken. How do you apply traditional measurement metrics to that? 

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