What is social media success?
It’s an interesting question given the increasing focus on return on investment (aka ROI).
And it’s becoming a more intriguing question as sales becomes a bigger part of how brands want to leverage social media, as well as how social networks such as Twitter and Facebook want to monetize their services.
It wasn’t that long ago that social media success was focused on building brand awareness and goodwill with potential and existing customers.
As a two-way medium, social media provided brands with a new and dynamic platform to engage with customers as opposed to simply broadcasting.
For many brands, this offered enough ROI to justify significant investments in social media because it was another way to drive sales and marketing activity.
And while brand awareness and customer engagement are still important, the concept of success continues to evolve.
A key part of the landscape is how sales and profits are taking a higher profile. It’s not difficult to see why this is happening: as brands review their marketing and sales efforts, social media needs to justify its place at the table.
In a growing number of situations, social media needs to offer more than just drive awareness and engagement.
At the same time, brands are being forced to be more creative, focused and aggressive with social media because most, if not all, of their competitors are also using social media. It’s simply not enough to have an active social media presence because this is table stakes.
What it means for many brands is they need to make bigger investments in people, tools, technology and creative campaign to rise above the crowd. This is probably why the conversation about ROI is being pushed into the spotlight.
In other words, social media isn’t a sideline activity but a key part of business operations that need to be justified.
It means “success” is also being redefined and measured in new and different ways?
So how is your definition of success evolving or changing?