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Social Media ROI

Despite our company name, I’ve never been a fan of the “Social Media” idiom.  It implies that we are engaged in something new.  What has changed is the platform of delivery (now two-way and relatively constant), the rate that word-of-mouth can travel and the ways that effectiveness may or may not be able to be directly measured.

The phrase “Socialnomics” fell into the same marketing-twist-semantic-massage bucket for me.  Well, in deference to my Dublin, Ireland colleagues at Simply Zesty, I’m embracing the term.  After all, the depth of impact in how marketing, sales, service and product quality must reinvent and perform is economically revolutionary.  Simply Zesty produced this video.  It’s a hot, energetic bundle of evidence:

Getting Social Media Education Right

It’s harder than I thought it would be. Isn’t everything? We’re offering classes in social media and attendance online has been low. It’s mostly due to how we’re marketing. That, and the fact that we’re charging for a class that many may think they can learn elsewhere for free. Not so. I’ve taken a lot of the online free stuff. Simply put, you usually get what you pay for…not that I haven’t pulled an idea or two from a free webinar. Our classroom experience in teaching Social Media Fast Start for business was different.

We had a full and engaged classroom. Attendance was all over the map with representatives from small business, government, non-profit, corporate and “my mom sent me.” I was excited and having fun, and I think the class was too. So, i didn’t get to about 1/3 of my slides. I found myself torn between getting everyone’s questions answered and covering the material as promised.

This seems to be an ongoing challenge – I’ve now spoken to a variety of groups and the conversation goes in so many directions. There are many questions about how to do social media and market online. So, once again, based on customer and student feedback, we’re making some changes.

Our launch begins with a new 11Am – 415PM classroom workshop that includes the initial professional photography and a video clip needed to get online appropriately.  We’ll have enough time to cover basic tools, online properties and the know-how to get started marketing online.   We’re also offering free webinars in addition to more specialized online classes like Facebook Privacy and Security and Twitter Ethics and behavior.

We welcome feedback on what you think your biggest challenge is so that we can address it in class.

Digital Tools Required For CMO Jobs Today

This article posted on August 14, 2009 by David Kiley, BusinessWeek:

The last few years have been awfully hard on marketing and advertising professionals. Companies are cutting back headcount. Downward trends on ad spending have slaughtered ad agency staffing. Jobs are scarce. The weekly Brand New Day/CMO Club weekly survey shows, perhaps not surprisingly, that digital marketing expertise has far surpassed classic marketing experience as the most valuable asset you can bring to a job interview.

The CMO CLUB Weekly Poll Question: What expertise is most valuable to you today when hiring new talent in your marketing organization?

101 CMOs responded:

38.6% Digital marketing
21.8% Classical marketing
18.8% Marketing ROI/Metrics
11.9% Sales
8.9% Social Media

A few Quotes from CMOs in the club who responded:

“Everyone is talking about social media but I need new expertise in my organization for more comprehensive digital marketing skills.”
“People confuse good classical marketing skills with reliance on traditional media. I’m always looking for classical marketing excellence in assessing customer needs, developing the right customer segments and serving those segments from messaging, products, pricing and customer support. This drives the media decisions. Classical marketing expertise with the knowledge of leveraging digital marketing in the mix is the holy grail for us.”

“Marketing ROI/Metrics are important but I have lots of help in my organization in thinking this through. It’s a top priority for our business to understand and deliver based on ROI/metrics, but that’s not the primary skillset I need to add to the team to deliver this.”