What is Social Media Success?

measuring_success3What 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?

2 Comments on “What is Social Media Success?”

  1. I have always professed that social media in itself is not the answer. It is part of an integrated strategy. Two things went wrong with social media: 1) people thought it was a be all end all solution and 2) people continued to use it as a broadcast and traditional marketing tool (albeit some used it the right way, but not many).

    The common component is that “people” have to remember that they are working to get the attention and dollars of “people”. To do social right, you first need to understand it and its connection with people. Then you need to tie it to your overall strategy and business goals.

    Those that fail to see the value of social don’t understand the human component and want a command and control approach. They want to tell prospects and customers what they need and want without listening and learning.

    1. Totally agree that social media can be operated or seen as an activity in a silo. Instead, it needs to be part of a marketing sales arsenal that complements other tools. This sound like a straightforward approach but the fascination with social media leads some people to believe it has magical powers, which is obviously the wrong way to think.

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