Six Key Aspects to Inbound Marketing ROI: Part 5 Customer Experience
Social media is all about the ‘customer experience’. The better the experience the greater the success of your company. Social media’s impact on your customer is immediate, and when executed correctly will lead to additional benefits to your organisation such as brand health, better sentiment, cost savings and increased revenue. When setting up and managing your social media execution strategy, recognise that all channels are not created equal and part of ‘getting it right’ is understanding how best to manage the customer experience relevant to each channel. If you are running a community forum, for example, it may be best to stand back and let your customers engage and help each other, and only come in to offer solutions when they are really stuck; whereas on Facebook, when a customer pos ...
Six Key Aspects to Inbound Marketing ROI: Part 4 Operational Efficiency
When asked to prioritize their business objective using Altimeter’s Social Media Measurement Compass marketers are quick to select their primary goals as engagement, advocacy and increased revenue without consideration to the ways in which social media can improve operational efficiency. We all want our organisation to run a smoothly as possible and fine tune so that we can save on our company’s expenses, which in turn will deliver great profits. Whilst there is an initial setup cost in social media and ongoing costs to outsource or resource community management and content production, there is no doubt that it can deliver operational efficiency and costs savings to an organisation over time. One area where social media kicks in and is a cost effective tool is with brand advocacy, where if ...
Six Key Aspects of Inbound Marketing ROI: Part 3 Marketing Optimisation
Effective social and inbound marketing should begin with aligning core business goals with activities and channels to demonstrate ROI (Return on Investment). If you are a Director of Sales or the CFO (Chief Financial Officer) marketing optimisation is of no consequence. You will no doubt be clamouring for increased revenue whilst your customer service team will want to see improved customer experience. The question we are often asked is what kind of metrics can be placed around digital, mobile and social activities that can clearly demonstrate improved marketing and marketing optimisation. Simply put, marketing optimisation is the improvement of the effectiveness of marketing programs, either do more with less or get a better result with the same level of investment. Measuring efficacy ena ...
Six Key Aspects to Inbound Marketing ROI: Part 2 Revenue Generation
The further you venture down the social media or inbound marketing path with your boss, your colleagues or stakeholders the more likely you are to be asked to demonstrate the ROI of your activities as a marketer. Whilst some like to feel that ROI should mean return on influence and linked to soft KPIs like brand mentions and presence of an online community, expect to eventually here those four precious words “Show me the money!” When I hear a company say they can’t articulate how their online and social marketing is delivering an increase in revenue, I have to ask why not and encourage a review of the process. Social channel conversations, Facebook pages and Instagram posts should be purposefully created by marketers who clearly understand whom they are trying to influence from vacu ...
Six Key Aspects of Inbound Marketing ROI: Part 1 Brand Health
Ok, so your business has decided it is finally ready to invest the time and resources into social and inbound marketing activities. The most critical first step you will need to take is to ask yourself and your stakeholders to determine what the business expects these activities can positively impact. Whilst the social channels and devices constantly evolve, one thing will always remain constant – the top line goals of the business. In our practice, we introduced a Social Media Measurement Compass inspired by the work of Susan Etlinger of Altimeter. She created and delivered this concept in her marketing manifesto A Framework for Social Analytics and we have since adapted it to become a building block during our CIMA™ Audit process and essential to effective social and inbound marke ...