The importance of keeping the end goal in sight in social media strategic planning, from Socialmedia Today.
I read an article by Tom Keene recently titled ‘2014: Social Media Descends to 35 Feet’. I had to read it a couple of times (it’s a little bit abstract), but the gist I got reminded me of some of the long-held views of social media I’ve heard repeated many times by traditional business minds who poke at social media advocates with those three block letters – ROI.
‘Great, you’ve got people to ‘Like’ the company, where’s the ROI numbers?’
‘You’ve got us a thousand followers, what’s the ROI?’
‘Social media’s the future? Show me definitive proof tracking the ROI’.
While it’s different for every business, return on investment can be difficult to quantify. You’re often working to develop and generate stronger brand relationships, rather than putting on the hard sell for quick returns. This is still possible through social media, but it’s generally in response to paid advertisements, as opposed to a longer term content strategy, which works with clients to establish ongoing partnerships and reputational reach. Understandably, this is what your CEO and CFO want to hear about, not the amount of ‘Likes’ or followers you’ve achieved. At some point, you’re gonna’ have to show them the money, so you need to ensure this is part of your strategic plan from the very beginning.