product marketing

social media marketingSocial media is great for making friends and reaching out to customers but can you actually monetize it? Make any money from it at all? Yes, of course you can, if you know how. That is the crux of the problem, so many questions and not enough skilled social media managers to provide the answers. Look around. Search the web. When you have questions about social media marketing don’t just playing guessing games until you figure it out. Find an expert who can provide the answers you need.

Dawn Westerberg Consulting LLC assists business-to-business firms in strategic marketing, public relations and social media. Westerberg speaks frequently on a variety of marketing topics including Social Media, Content Creation, Customer Experience, and Marketing Fundamentals.

Her presentation “The Hub – Is Your Online House in Order?” addresses the need for compelling content on websites and blogs providing visitors with the information they need to self-qualify themselves, continue returning to the site, and ultimately engaging in business with the firm.

“How to Monetize Social Media: B2B Case Studies” will focus on the results of real world marketing campaigns from campaign creation to campaign measurement to return on investment.

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social mediaSo, you wonder what the return is on your investment of time (mostly) in social media? Who doesn’t. The fact is, determining a true ROI on social media is tricky. Sure, there are several companies that promise they can calculate the impact from your efforts. They can track Friends, Followers and how likely your messgae is to be passed around to other folks, but can they tell what kind of impact you are truly having in the digital world? Can they give a true measure of your ROI? Probably not. That is something you can only judge by diving into the digital deep end yourself and having a look around.
Check out this story from Beverly Macy and see what I mean:

Yes, social media is becoming more prevalent in organizations large and small, but we’re still very early in a longer-term timeline. The real emerging consideration inside organizations is determining the best way to create a social layer in the enterprise architecture that lifts all internal priorities — marketing, CRM, branding, lead generation, etc.

I wanted to share an unfolding situation in my own life to add a twist on the traditional hunt for ROI. Last week I was offered a loaner from a luxury car maker via Twitter, as well as a free sample of tire repair gunk, also via Twitter, all because I tweeted my dissatisfaction with the tire service from my car dealership.

The dialog with both companies took place in the public Tweet stream … but my car’s service team was clueless because they are not on Twitter. No, they sent out the automated email survey and logged in the obligatory voice mail to me, then left early for the weekend. Ho hum. P.S. — it’s a Mercedes dealership!

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Marketing Sherpa has released its 2011 review of social media marketing efforts and there are more than few surprises. And perhaps NOT surprisingly, social media has destroyed previous records for growth in advertising. Comapnies are pouring more and more of their resources into Internet marketing, specifically social media where the returns are far beyond what anyone imagined they would be a few years ago. A few years from now, who knows how big it will get.

This is MarketingSherpa’s third benchmark report analyzing how marketers are using social media to engage audience, build brand, generate leads and drive sales.

A key finding from the 2011 research is that, on average, marketers are reporting a 95 percent ROI on their social media efforts, with 30 percent reporting a ROI of at least 150 percent. It’s being delivered through social media integration, brand awareness, converting members and followers into paying customers, and generating and nurturing leads by executing an effective social marketing strategy. This is a dramatic shift from MarketingSherpa’s first research study that revealed marketers were unable to demonstrate ROI from social media.

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