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Social Media Marketing and Business Results

June 23, 2009 @ 11:34am

Updated — June 26, 2009 @ 11:39am

by Mason Razavi

Despite the success and popularity of social media and networking sites, there are still plenty of objections, misconceptions, myths, and plain old concerns that I hear from people in small and large companies alike. Perhaps the most pressing question is one of metrics; can you really measure the results of a social marketing campaign?

Businesses are understandably concerned with how they invest their advertising dollars, especially in an economy where companies have cut costs by letting their marketing budgets shrivel like a salt-covered slug. As a result, marketing and advertising directors have to show that the money they do have is getting them real, measurable results and high ROI.

There are enough examples out there of businesses who have in fact come up with ways to measure the effectiveness in concrete, quantifiable terms. Perhaps the most prominent example is provided to us by Dell Computers, who reportedly have generated $3 millon in sales through Twitter. Dell has actually created proprietary software to measure very precisely the effectiveness of their Twitter presence, allowing them to confidently disclose such figures.

Of course, not everyone has the resources to build a proprietary analytic tool, but that doesn’t mean it’s time to throw in the towel. You might be able to measure the success of a well-implemented social media marketing campaign by tracking spikes in web traffic before, during, and after various points during the campaign. Also, you can offer promotions specifically through Twitter or Facebook and track the number of orders that come in that way.

Furthermore, even if you can’t asses the value of every click, the amount of brand equity built in every page view, or the likeliness that a Facebook fan will buy your product or service, you can take comfort in the fact that social media marketing is extremely cost-effective in nature. Some companies actually hire a full-time social marketing expert to drive such efforts, while others look to social media and web marketing specialists to create and monitor anything from a blog page to full-fledged, cross-channel online ad campaigns. If you play your cards right, you can get the right services for a great price, meaning you don’t necessarily need to plop down the tens of thousands, hundreds of thousands, or more on your social marketing campaign. Yet, social marketing can reach as many if not more people, in a more meaningful and impactful way than many traditional marketing methods.

Finally, there is the copycat theory. As much as we strive to make business decisions that stress innovation, forward thinking, and unique strategy, it’s no secret that once one company does something to successfully improve itself, others will follow in its footsteps. Keeping that in mind, why not follow the footsteps of CNN, Kentucky Fried Chicken, Coca Cola, The Cleveland Cavaliers, and many other major organizations by hopping on into the social media pool. The water is fine, jump right in! The web is chock full of articles discussing how companies large and small alike have found that using web 2.0 tools to create personal, meaningful and direct dialogue with their customers has improved their business and made them more recognizable. If that isn’t measurable proof, I don’t know what is!

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Iranian Election Coverage Proves The Power of Social Sites

June 16, 2009 @ 2:46pm

by Mason Razavi

Politics are neither my forte nor my preferred topic of discussion, however as a new media marketer it’s impossible not to realize the impact that social media sites – particularly Twitter - have had on the happenings surrounding the Iranian election.

According to CNN, the U.S. State Department asked Twitter to reschedule maintenance in order to keep the social network alive and pumping information out to the web during crucial election-related moments. Furthermore, sites like YouTube and Flickr have become great resources for getting video and pictures for those who want more insight, and, unsurprisingly, blog posts from individuals on the scene are providing more useful than the media when it comes to providing up-to-date coverage to the public.

Despite the Iranian government’s attempts to shut down social media sites including Facebook and others(do a quick Google search), relentless bloggers, Twitterers, and other social networking site fanatics have been posting away.

All of this amounts to what could become an incredible case study in the value of social websites to the public. When the U.S. State Department is banking on Twitter users to relay important political information, when foreign governments attempt to shut down social websites in order to control how their image is presented to the world, and when there is global attention paid to seemingly amateur bloggers, it is time to admit that social media sites have begun to transcend traditional media.