Archive for the ‘Value’ Category

8 Mandates for Social Media Marketing Success—#7: Ensure Value

By Kent Huffman, Author of 8 Mandates for Social Media Marketing Success

“What’s the ROI from all that social media stuff you’ve been doing?” your boss asks. One of his favorite questions, right? Or if you’re a small business owner, you’ve probably heard that same question from your partner or CPA.

Generating reliable performance metrics for your social media activities—gathered and reported in an efficient, easily interpreted manner—has become a major priority for practitioners of social media marketing to help them demonstrate the value from participating in social media and validate their investments in it.

Your boss, partner, or CPA wants to compare the investment of personnel, time, money, and other resources to the return. But without supplying verifiable ROI data and analysis, any long-term relationships that marketers hope to develop and maintain with their social media communities are most likely in jeopardy.

So how do you go about ensuring that you’re deriving value from your social media marketing efforts—and that you can accurately measure that value? Obviously, tracking online “chatter” can help expose the bad as well as the good. For example, your fans and followers may publicly laud your products or suggest improvements to them, giving you the opportunity to respond quickly and address their comments or concerns. Also, there are now a myriad of technology tools available that can help measure the financial impact of social media on your organization, including lead generation, e-commerce revenue, etc.

The social media monitoring and measuring process is still in its infancy. However, in today’s hyper-competitive environment and relatively weak economy, generating measurable, repeatable value from social media is no longer an option for most marketers.

(This is an excerpt from Kent’s new book, 8 Mandates for Social Media Marketing Success.)

Next: 8 Mandates for Social Media Marketing Success—#8: Continue Listening

8 Mandates for Social Media Marketing Success—#5: Demonstrate Leadership

By Kent Huffman, Author of 8 Mandates for Social Media Marketing Success

Social media leaders—as is the case with their offline counterparts—are most often valued and respected for their knowledge, experience, passion, and vision. The most effective social media leaders also demonstrate a strong sense of responsibility, serve as standard bearers, have a relatively high tolerance for risk, lead by example, think strategically, plan for the short and long term, express humility, and have the innate ability to inspire others.

Another important characteristic synonymous with social media leadership is integrity—and because of the ability for others to quickly and easily spot insincerity and dishonesty on social media, a leader’s integrity must be solid as a rock at all times. Innovation is another hallmark of a strong leader. The most successful leaders on social media not only create new concepts and trends and serve as change agents, they also figure out unique ways to generate value and generously and consistently share that value with their online communities.

Are you an influencer? Every effective social media leaders is. In fact, many of their friends and followers are subconsciously looking to be influenced. It’s how they learn. And that’s why they keep coming back to the leaders for guidance and inspiration.

Finally, what about leadership style? Think about those leaders you know who are akin to a tyrant straddling a big black stallion. Or the other ones you know who are compassionate but have a firm hand on their ship’s tiller and wise words of advice for their shipmates. Which approach do you think has the most impact in the social media world?

Demonstrating leadership is probably the fastest way to create a loyal following on social media. But along with that comes responsibility. So take it seriously.

(This is an excerpt from Kent’s new book, 8 Mandates for Social Media Marketing Success.)

Next: 8 Mandates for Social Media Marketing Success—#6: Build Community