why are we spending so much money on social media?

Why Are We Spending So Much Money On Social Media?

A (Sort-Of) Survival Guide For Numbers People

Remember the days when everything was easy?

There were limited places to advertise, and your advertising was impactful.

It was easy, but imprecise.

And then came...THE INTERNET!

Referring Tra!cClick-Thrus Behavioral

AdvertisingPAY PER PERFORMANCE

Referring Tra!cClick-Thrus Behavioral

AdvertisingPAY PER PERFORMANCE

Behavioral Advertising

PAY PER PERFORMANCE

SUDDENLY, MARKETING HAD DATAReferring Tra!c

Click-Thrus

Behavioral Advertising

PAY PER PERFORMANCE!

When a finance person hears “pay per performance.”

And then came SOCIAL MEDIA.

And you heard this.

Away from measurementAway from dataAway from control

And in a way, this giant step forward felt like a huge step backward...

After all, how can you e!ectively measure 1-to-1 conversation?

Like this:

Or this:

Of course, there was some measurement to this:

And this got just a little bit of earned media:

But most of social media involves talking daily to your customers and

figuring out how to produce content that matters to them.

So now, instead of just producing your product or service, you’re a content producer too.

Social media has dense data, but limited learnings:

What do those impressions mean?

What does a like get me?

How do I measure the return on a retweet?

In short: life just got a whole lot harder.

Or did it?

When we engage in a dialogue with our customers online, we

become more invested and more accountable to our customers.

We will make better products.We will have better customer relationships.

We will craft better terms.or

We’ll explain why we can’t do it exactly the way they want.And then, at the very least, they’re heard.

Social media is not expensive at all. In many cases, the platforms are free.

But social media takes time. And time is the most precious resource of all.

Social media is built on technology, but is primarily people powered.

Invest in the people to actively listen and create content for your brand. Invest in tools that help

provide data to show if it’s working.

Reach Tra"c ReferralsContent ViralityEngagementSocial Ad Performance

And what does “working” mean in social media:

but that’s just marketing speak.

What about:

Call Center Volume Reduction

Research and Development Data Acquisition

Improved Speed of the Sales Funnel

Here’s a pop quiz...

What is the value of one customer to your organization?

How many of your customers are on social media?

Attendees of social media invite only

“Free Chillzone Day”

Could you increase the value of those customers if you had a deeper connection to them or better

understanding of what they want and need?

Then what are you waiting for?

Thank You.Carrie Kerpen CEO, Likeable Media