Social Media in China - Didn't think it was struggling this much. As we write our supplement for China it will be interesting to see what is really working there.
Interesting article. This is a great delineation of the maturity of the corporate usage of social media. Implementing ROI in most corporations goes through similar phases, although they need to be much more directed. Social media metrics and ROI will also soon be de rigeur for many of the more sophisticated companies.
It will be interesting to see how Borders and B&N will survive if at all. Certainly the tablets and other devices must be hurting them. They may be better off becoming a competitor to Starbucks, offering ambiance and a place to read the latest books. Maybe there's a way to combine that with social media to come up with a real strategy for them to survive
Not sure I agree with a blatant split of budget. First, there are only so many social media outlets. Second there is no ROI component to their proposed marketing mix. Not sure I would rely on the given recommendations to drive marketing ROI overall.
I just commented on this. It would be great to hear if anyone has some experience in estimating the crisis management costs in the preparation and expected value of crisis management in social media.
Interesting way to measure your product and brand success, through the number of likes. For a retailer this could provide some interesting hyper local marketing to drive their marketing ROI.
Ric,
The Tower of Babel is an interesting metaphor, when thinking about the fire hose of messages generated in social media.
Good point about differentiating the different types of users of social media. Sounds a lot like segmentation...
Ric, also glad you were able to move the discussion forward. There is a lot of work to be done with ROI as it relates to social media. The books and posts that will become available in the near future will build on the groundwork laid by our book, ROI of Social Media and Blancharde's book Social Media ROI (sorry, but I just killed two more unicorns). Looking forward to seeing how this plays out.
I do want to apologize to all the unicorn lovers, but as a marketing measurement expert somebody's go to do it.
Thanks
Guy
@GuyPowell
INteresting to see the dynamism in social media. The question is what comes next after Facebook, or has Facebook won the battle and social media is now a Utility?