Is this the year of Social Media For Business?
As we approach the year mark for the Barack 2.0 Project, I am recounting the valuable business lessons learned.
Of the many, one huge lesson is not a lesson, it is actually a valuable distinction.
Hopefully, this will not unmask too many in the marketplace.
- The market conversation has changed.
- Marketing channels have changed.
- What worked in the past is not working as well now.
This is so obvious that it need not be stated. But just in case you missed it…
- The Internet Has Changed The Way People Access Information
- Social Media Allows For True Real Time Dialogue
- Users Can (and Will) Generate Content At A Rate Higher Than Any Single Source Point
- Search Engines Are Paying Attention To Social Media Conversation
- You Can’t Control All The Conversations
We know this already right!?!?!?!
So….Why is it that when I speak to business leaders on a day to day basis I am getting questions about impressions and ad buys.
That is an old model.
Further, larger organizations are not paying attention to the very listings and rankings that are the underpinnings of the internet.
Some still are running sites with no analytics. And, thus have no idea what is happening with their primary online (and offline) presence.
Is this a misunderstanding about the interconnected nature of…
- SEO
- PPC
- Social Media
- Social Networking
My question is…
- Is there is a magic number where profits are no longer the bottom line measurement for business success?
- When does the emphasis become spending the budget and not turning a profit.
- When does the model go from a sales and ROI model to the spend and “branding” model?
No organization is so big or powerful that MROI (marketing ROI) is not important.
Further, in this day and age where technology is moving rapidly and data is becoming more accessible, the smaller tech marketing savvy companies are gobbling up markets as quickly at they can find them.
And there is no amount of spending that will combat a sound trackable perfectly executed strategy. True social media business strategy is constantly getting meaningful feedback from the marketplace. Or in other words, knowing what works, when, how and why.
Warning To Business Owners : Don’t ever stop concerning yourself with the profits in your business. Profits not spending is the key to your marketplace success.
