Are You Tracking What Social Media Is Doing For You?
I feel like a broken record today. I no sooner finished writing about the importance of professional social media monitoring when i see this story about how many B2B marketers fail to properly gauge the impact social media is having on their lead generation and sales. Really? How is this possible?
Of all people marketers should realize the importance of measuring the success of a marketing program. Whether you are generating leads via social media or a billboard on the highway you should be able to track the results (if any) you are getting from those marketing efforts.
Atlanta-based cloud marketing automation software vendor Pardot conducted a survey which showed that although 95% of marketers were using social media, only 70% were tracking the impact of their social media efforts. That shocks me. Every client we work with at Rev Media Marketing gets the talk about the importance of social media monitoring because we know how crucial that information is to determining which pieces are working. It’s social media marketing 101, folks.
Maybe people don’t feel it’s needed because so much of what we do on social media has no direct cost; the tools are almost all free. Mostly you pay for the labor of doing the posting, updating, etc. If you’re a marketer you might not feel it’s necessary to track the hours you spend on your social media because you are choosing to do it whether you are on the clock or not. This is illogical thinking, however. Time is money. Your time is valuable. If you are not seeing an equal compensation for the time you are putting into your efforts then your time would be better spent doing something else.
It’s as simple as that.
I did learn one other important thing from this Pardot survey however: I should start marketing our professional social media management services to marketers because apparently, not everyone gets it.
As uncovered by the survey:
Approximately 11% of marketers said their companies have a formal social media policy
55% of respondents said contacting a social media-generated sales lead by phone or email is appropriate, even if the prospect had not invited the vendor to do so
Meanwhile, 48% said it is appropriate to respond to a prospect via social media, if the prospect contacted the vendor via email or phone first
100% of respondents said it is acceptable to invite a prospect to join a marketer’s online social networks, though some suggested the invites be limited to networks such as Twitter, LinkedIn, Quora, Plaxo and YouTube, versus more personal sites like Facebook
31% said it is acceptable to critique a competitor via social media
“Social media is an exciting and enticing sales and marketing medium, but best practices are clearly still emerging,” said Adam Blitzer, co-founder and COO for Pardot, which recently introduced a series of social media management tools for small business marketers.
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