Social media not cheap, nor a joke

As a contributor to (Aussie) Marketing magazine, the following story piqued my interest. A CMO Council survey of 400 executives had 56% admitting their companies have no programs to track or build positive word-of-mouth, and 59% don’t compensate any employees based on improvements in customer loyalty or satisfaction. The (overall) message for marketers, according to CMO Council, is that by creating a corporate culture of listening, learning and limiting hassles, companies can “improve product uptake, reduce market friction, increase customer responsiveness and identify new monetisation opportunities”. But if they don’t resource this, then they ain’t gonna pay for it are they?

This kinda dovetails with some recent experience of pitching to clients, some of whom expect all digital activity to be dirt cheap, yet highly effective. Client organisations must never overlook the thing that makes ‘social media engagement’ work, is the dollar value of the intellect that advises you how best to engage in this fast-evolving arena; praps to some extent Social Media exponents are being undone by the myth of e-DM; that it’s an easy design job, followed by repeat running of e-lists. It ain’t!! The skill is considered engagement, and that’s the result of developed expertise and (to me) seasoned PR judgement!! Am I grumpy or is it just hot in Melbourne??

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2 thoughts on “Social media not cheap, nor a joke

  1. Pingback: renaissance chambara | Ged Carroll - Links of the day

  2. I agree with your sentiment, clients are jumping a few years ahead in pricing already. As the industry of Reputation Management is still evolving, the expertise lies with a select few individuals within an organization to accurately direct their clients’ investment in the right direction to create positive word-of-mouth user behavior.

    A challenge, as I see it, is in effectively producing a statistical module, that is based not only on pure numbers, but sentiments quantified to numbers – generated by a short, effective research conducted within a key group. One way of achieving this lies in creating benchmark parameters for brand value, perception, recall, that can be done as an eDM exercise (cheaper for the clients) – sort of a precursor to a full blown social media optimization program and the same eDM tests can be conducted after a 3 month period to quantify the change. The clients will understand the shift in paradigm in key target audience about the brand, and this will help them realize the importance of this expense.

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