FANfare Social Media

Does social media really drive revenue? | April 28, 2012

How does social media drive revenue? You need measurable results. I see inbound marketing job titles popping up everywhere, so I guess everyone thinks it is important. But how do you know whether revenue is coming from your outbound campaigns or your inbound campaigns? First, you need a tool that measures the effectiveness of your posts and a similar tool that tracks outbound marketing efforts. Second, you need a presence on lots of social networks. Third, you need a blog presence to use as a foundation for key content topics so you can reference back to when doing shorter posts to other networks. This can be done using bit.ly and similar apps. But does your CMO and CEO only measure marketing by revenues generated? That’s tougher. Now you have to track the sales person and account and tie it to your proof that it was generated from a social media content post.  Not always easy. And I would make the case that if that contact was included in outbound campaigns, then the accountability should be split between the two.  That’s only fair, but complicated. And it needs to be measured over longer periods of time than a couple months. Probably 2-3 years. In any case, I feel social media marketing and all other marketing should be measured based on marketing metrics, not sales metrics if your measurement requirement is only short term.  This is a controversial debate.  What do you think? See how FANfare tracks social metrics at http://youtu.be/7ZFXKIwyTwo

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