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SRoMI- social return on marketing investment is it possible to track
1. sROMI-Social
Return on
Marketing
Investment is it
possible to track?
One of the biggest challenges facing on-line marketers
today is did I get my money back from the program or campaign I just launched.
Part and parcel with this big problem is why is it so hard to figure out who to
market to. Nearly every company we’ve spoken with feels they have their targeting
nailed but at the end of the day their responses rates relative to other mediums is
less than satisfactory.
So how do we turn the tables and improve our on-line return on investment?
The simple answer is better Targeting. If we know which influencers we should
be marketing then it seems to make sense that we can increase the response rate for
the campaign.
So lets walk through how your marketing team would deconstruct the process:
a. Identify the vertical you want to approach
2. b. Determine the reach and response we anticipate from the campaign
c. Create the offer and set a hurdle or response rate based on the budget allocated
for the campaign
d. Review the demographic info for the selected channels and ensure they align
with the profile of the buyers you require
e. Test the offer
f. Launch the campaign
g. Review the metrics and determine if the hurdle or rate of return was achieved. If
yes, rinse and repeat if no then kill the campaign or test alternative versions and
review a-f above.
What if there was an easier way?
What if we would identify people and companies to focus your marketing efforts
on- Top Influencers. What if you could know with a high level of certainty that
you were picking the “right” group of people to focus your digital campaigns
towards. I wonder if you would be a happier camper then?.
Of course you would- for the firms that have tools and solutions, to pin point the
key influencers, in their market have an incredible strategic advantage. Think about
potentially doubling the effectiveness of your marketing spend since you could
now but your target group in half.
The challenge to the market place is how could you increase your Targeting
effectiveness by 100% over the next quarter.
3. Please send us the website or company name of the firms you think fulfill this
promise. We look forward to adding them to our list we track.
Good Hunting hope to see you on-line in the near future.
Jim
Posted in: Social Media Investment