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Alex Ikonn

In those early days, all of us could gather (and perhaps rightly so) that there was seismic shift in how brands would now to customers. However no one clearly knew how to monetize the opportunities. We went through a crazy era of “banner exchanges” (hoping one site could drive traffic to another site : did we not realise that customers have a mind of their own?) or showing graphic heavy banner ads with obsecne CPM rates. Then Google came along, created CPC and showed all us a way of reaching the customer and thus bring ROI discipline to the business.

I see all of us at the same place as far as Web 2.0 is concerned. I run a Social Media Agency here in Mumbai, India and I can see that eveeryone is keen to get started with FB, Twitter, YouTube etc. Yet most dont release that FB, Twitter etc are only tools…the real opportunity lies beyond the tools. And once we understand those opportunities, we will be able to create ROI

Human behavior is not rational, most often absurd at that, conversations (or the “social”) are not linear either, can’t, and won’t ever be, fully measured or quantified. The whole “social media” concept, should be taken out of the “marketing” file folders and placed into the general “public relations slash risk management” folders. A conversation has to be two way, and most use of “social media” is one-way and highly controlled, that’s all so much preaching, regardless of what tech tools you use.

All this “social” is really just indirect conversational customer feedback, and should be factored into the whole; over-catering to some minor, but vocal petulant needs, at the expense of the majority and the brand itself, will backfire. Strategery not Salvation.

Companies are losing control of the packaged message, and have to instead build relationships with the new influencers and engage in dialog.

[...] November 3, 2009 previously marketers were used to ‘Bowling’, where marketers could easily throw a message down the aisle and hit the pins with great confidence. Now, he eloquently describe, it was more like ‘Pinball’ where a marketer could load the message up, shoot it out, but have no idea where it will end up. via web-strategist.com [...]

When I hear about these summits (glad you got the opportunity to be at this one), I realize just how important these discussions are for every companies to have now.

It’s great because if a company uses social media the right way, they can spend less but yet drive more traffic, eyeballs, loyalty, participation, and ultimately…consumer spending.

A good platform and partner for these companies will have the customizable user/site tools, plus the reporting capabilities, to make sure all of the content and information that needs to be mined and tracked to measure success are built in.

[...] and more of their online time interacting on social websites, social media initiatives have become a high priority for businesses large and small.  Social media is a booming industry, but it’s also the new Wild West.  The [...]

[...] are a couple of quotes that got me going: Beyond monitoring, insight from the social sphere is untapped. Social media monitoring is just the first baby step, most companies haven’t tapped into what the [...]

I don’t agree with the statement because the real issue as I see it is not how easy or difficult it is to measure but deciding what to measure and how indicative of success that is. For instance if your social media strategy involves giving feedback to requests for information and providing click throughs then it is very easy to measure the success of the information you are giving by looking at stats for referring sites on the click throughs. If you are hosting a conversation about a particular topic then looking at the volume of ‘buzz’ about that topic and the conversations around it are also pretty easy to monitor. I suspect the difficulty that was being spoken about stemmed from a lack of knowledge about what to monitor and how to analyse it rather than actual difficulty of getting hold of figures. As with most things digital marketing it is a case of knowing what your aims are and not simply getting stuck in with no clear direction in your own head of what you want to achieve.

Someone above made the point about actually listening and hearing what your customers are saying to engage with them and I agree. People do know the difference when they are being heard and listened to and not simply given a mouthpiece that no-one is actually paying attention to. Measure your overall satisfaction levels amongst the customers you are engaging with online and compare that to the ones who have not yet found that resource. Is it increasing? If it is, you are probably doing the right things, but don’t stop thinking of new and creative ways to increase the ways you are engaging with your customers.

Its about thinking of social media as part of an overall digital marketing strategy rather than simply a tactic to communicate with customers. If you can do that and see where it fits into your customer experience then the things to measure will become a lot more obvious to you.

Do you think it’s dangerous that more and more companies are opting in to the value of social platforms without understanding why or how to measure it? (The social media bubble burst?)

David Spinks
Community Manager at Scribnia.com

[...] Behind Closed Doors: What’s On the Mind Of Chief Marketing Officers « Web Strategy by Jeremiah Ow… [...]

[...] and just recently joined the Altimeter.  There are a couple of quotes that started me going Beyond monitoring, insight from the social sphere is untapped. Social media monitoring is just the first baby step, most companies haven’t tapped into what the [...]

[...] Behind Closed Doors: What’s On the Mind Of Chief Marketing Officers by Jeremiah Owyang on Web Strategy by Jeremiah Share and Enjoy: [...]

Hi Jeremiah,

Nice Post. Recently I was at an OTA conference in Philadelphia and reputation monitoring was discussed. It’s amazing to realize that less than 50% of major brands don’t have a reputation crisis plan.