Can You Measure a Social Return on a Marketing Investment?
Can You Measure a Social Return on a Marketing Investment
?
There's a huge problem facing on-line marketers today. A lot of marketers are left asking the question "did we make a return from that last campaign?" One of the major contributors to this problem is the fact that's it's incredibly difficult to find your audience. Many companies SAY they have their consumer base down and that their aim is true, but when it comes down to it the numbers compared to the various other modes of marketing just don't agree.
To put it simply, better targeting is what they need. If they know which influencers they should be marketing towards then they can definitely have a better campaign.
Originally the marketing team would work in a series of steps like this: Identify the market base, Estimate how much response the campaign will generate, Create and set a response rate based on the amount of money alloted to the endeavor, re-evaluate the demographic set for the offer and how it matches with consumer base you want, test the offer, and launch, review the feedback and if it's successful repeat if not try again.
Is there another way? Yes. Yes there is. Identifying and focusing on the top influencers in your market base, knowing with a certain mathematical clarity to focus your efforts towards. Those companies that have the resources to spend on identifying those key influencers set themselves way ahead the rest of the game. They see a huge return on their marketing investments.
Know any companies or firms that can pull through with this? It would prove infinitely useful to track them and learn from their strategies.