6 Ways to Demonstrate Social Media Marketing ROI

6 Ways to Demonstrate Social Media Marketing ROI

If, like me, you’ve worked in the marketing industry for ten years or more, chance are, you’ve had a question that goes a little something like this: Where is the ROI in PR? Or, is there really any benefit to marketing? Or (my personal favourite in recent years) what can social media really do for the company anyway? Questions that (probably unbeknownst to the naïve asker) make your blood boil, that make the red mist descend, or that make you want to curl up in a little ball and hide under the covers indefinitely. If your chosen marketing discipline cannot be measured based on immediate sales figures, then red-mist-inducing questions can be common place. And, unfortunately, it is the thinking (or lack thereof) behind such questions that often leads to your budget being hit first when things are tight. For marketing professionals in some of the ‘softer’ marketing disciplines, like PR, quantification of results has always been notoriously difficult. Traditionally, PR campaign reports focus on figures linked to awareness: circulation and readership figures, website hits and impressions, the equivalent cost of advertising spend. For social media marketing managers, those same reports now centre on new fans and followers, the number of post likes, and website click-through rates. All too often, reports such as these engender a raised-eyebrow response from senior executives who want to see a clear, demonstrable return on investment for every marketing dollar spent. All these awareness results and reporting metrics are a perfectly valid marketing objective for any business. Brand awareness is essential: you have to have an audience to market to. If no one knows...

The Secret of Making Money with Daily Deal Sites

As the cost of living continues to increase, the marketing savvy consumer is trained to seek out the best deals before they buy holidays, furniture, clothes, beauty therapies etc. We all love a bargain and this is something that marketers use to their advantage to attract new customers to their business allowing them to trial their product for an attractive rate. Interestingly, leading online customer service platform Get Satistfaction shows that one of the top reasons that people follow brands on Facebook and Twitter is because of the special offers and deals. You’ve probably come across some of plenty of daily deal sites in your travels, here are just a few of the main ones: HotDeals.com.au Cudo.com.au Groupon.com.au Scoopon.com.au Spreets.com.au CatchOfTheDay.com.au We got in contact with our friend Richard Green from HotDeals.com.au to ask one of the leading experts a few questions on how to successfully use daily deal sites like HotDeals.com.au to promote your business and make money. Marketing.com.au: From a marketing perspective, do you have a feel for the kind of return on investment that clients get promoting their products on daily deal sites? That’s a good question. There’s no doubt that daily deals can be a great way to get your product in front of new customers, and whilst many marketers would argue that the savings in marketing spend to drive brand awareness outweigh the cost of the deal, it’s pretty easy to run an unprofitable deal. The issue here is that every business is unique, and the success of any given deal is dependent on the quality of the offer and how well your business...

The Real Cost of Marketing

How much marketing costs, or how much to spend on marketing can be a very tricky question for a lot of companies to their collective head around. It’s kind of like the chicken and the egg scenario. You need to undertake marketing to attract clients but unless you have clients (and therefore a bit of cashflow), you can’t afford to undertake marketing. Sound about right? And when it comes to working out a marketing budget, how much to spend can be impossible to work out. How long is a piece of string? While we can’t answer that for you, we can give you some elements to consider when putting together a marketing budget. First of all, do you know what marketing actually is? What is marketing in a nutshell? In case you aren’t sure here you are: marketing is everything that your company does in order to reach your target audience and convince them to buy your product and service. Don’t forget about the second step in that definition. It is no good to just ‘reach’ your audience. You must motivate them to take action, to buy your product, to log on to your website, to phone your service number. This is the only way you are going to convert your marketing spend into profit. Otherwise, what’s the point of spending the cash at all? The next thing to remember is that marketing is a process, comprised of many elements, steps and phases. A good marketing campaign is not a two day TV ad placement. It is an integrated program which may include (but in way should be limited...

Digital Marketing in 2012: Will it be the year of the application?

Now that 2012 has gotten off to a roaring start, perhaps it is time to take a look at what’s in store for the digital marketing industry for the year. As with any industry, in any year, there will be challenges as well as successes. From our extensive research (well, we did a bit of a Google search), we reckon that 2012 will be the year of the application. Bet you didn’t see that one coming did you? (Side note: if you didn’t see that one coming, and you are working in the digital marketing space, we suggest that you change careers NOW!) As such, we’ve put together our five top items that you might want to put on your digital marketing agenda for the year. Get mobile: we don’t mean that you should rush out to Telstra and arm all your employees with the latest iPhone. What we do mean (and we’re talking to all you marketing and advertising execs out there) is that you need to work out how to effectively integrate ‘mobile-ness’ into your annual business plans and budgets. With consumers increasing their use of mobile devices exponentially every year, mobile marketing is no longer optional (at least, not if you want a successful brand). It is now indispensible. In 2011, Google estimated that 44% of last-minute shopping searches were from either smartphones or tablets. In 2012, if you do not optimise your website for ‘mobile-ness’, with a specific format and landing page for mobile devices, you will be at a serious disadvantage. Better methods of measuring Return On Investment: as with any type of expenditure...