3 Common Social Media Success Myths Debunked
What is truth about Social Media Success?
..about Social Media ROI?
Business people do not need to debate the existence of Social Media ROI any longer!
The evidence is in front of us?
It is hardly surprising that there are myths about Social Media success as we still believe what is in print, still are taken hostage by fine sounding arguments from those posing as subject authorities, yet disseminating incorrect, second hand information, or incorrectly attributed experience.
Here are Social Media ROI myths I debunk from my personal experience of online work since 1987 and an NZ pioneer in Social Media strategy & tactics since mid 2008:
Myth #1: There is no such thing as Social Media ROI
- NZ has yielded one of the world’s highest value leads from Social Media in 2009/2010 US $4.2 million. It was also one of the world’s earliest Social Media leads ( http://www.tweettwins.co.nz http://www.Iceav.co.nz )
- One of the latest 2012 leads generated is even larger! http://bit.ly/SocialMediaROIExample
- And here are 101 examples! http://bit.ly/101ExamplesSocialMediaROI
Myth #2: You cannot measure Social Media ROI
- Since 2009 marketers have been able to access a Social Media ROI Measurement tool: Klurig
- There are many Social Media management, measuring and monitoring tools that claim to be ROI measurement tools, but are not at all. There are only 2 such tools on the market. The most comprehensive Social Media ROI measurement tool is Klurig Analytics It measures the value of campaigns and allows you to tweak the effectiveness of campaigns. It is now only available to provide customised reports for specific campaigns.
Myth #3: Effective Social Media ROI comes from a simple set of tactics
Simple, easy, fast, instant, truckloads of cash. That is what the market wants to hear. It is not reality.
This quote I read by someone reading ‘Social Media tactics in 7 Days’
• Engage your customers • Listen to your customers • Build your business network • Find your cheerleaders • Do it all over and over again
Sounds simple. Is it truth? No.It is not 100% correct to reality.
1. It is almost true of LinkedIn networking but not LinkedIn Marketing.LinkedIn networking is about networking with people you do not yet know. Unlike what the prescription above states, they are NOT yet customers.
2. What works in some Social Media tools that are networking focussed, and not well in others. Others are more passive, not relationship focussed.
3. Not all Social Media or Social Networking activity is about customers-networks-cheerleaders. For instance there is a reverse method used in Social Networking (I coined it as ‘Influencer Marketing’ from my activity in 2008).
4. There is significantly more to generating leads than the ‘ Engage your customers • Listen to your customers • Build your business network • Find your cheerleaders • Do it all over and over again ‘ method.
Context – the writer of this method quoted is a LinkedIn networking specialist. The writer specializes in networking. Networking is a subset of Social Media work.
5. Why exclude suspects? Prospects? What about new customer acquisition? You also need to target those who fit your ideal customer profile.
6. This model presumes you have a customer base already. Not all businesses have a customer base electronically. Start ups don’t have a database. This model is only part of their recipe for success.
7. Many businesses will find that if this is all they do, they will miss MASSIVE growth opportunities.
8. Social Media success can occur from a broad variety of strategies and tactics. The method quoted is only ONE of many methods.
9. I’m part of a global mastermind group testing what works NOW, DAILY. Believe me, this is one of the SLOWER ways to get ROI online from Social Media tools. It is not necessarily one of the highest yielding methods.
10. The environment has evolved from this simple 2009 view of Social Media into something more sophisticated and changeable. Strong tactics are necessary. Simple tactics fail due to under-resourcing, limited experience, limited budget, limited time, limited databases AND worst of all, false expectations.
- You CAN earn turnover from Social Media
- You CAN gain Social Media ROI
- We DO have a way and the tools to measure Social Media ROI
- You have to seek the methods that work TODAY: Google changed reporting results 3 times 2 weeks ago!
- there are currently marketed books and information that requires discernment against reality. I have heard falsehood from the mouths of so-called experts. Choose what you believe with great wisdom!
Written by Jenny Wilmshurst, Tweet Twins Social Media – Speaker, Social Media Consultant, Social Media Strategist, part of a duo with the experience of generating one of the world’s highest leads ever, from Social Media
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