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There is a strong distinction to be drawn between businesses targeting other businesses (B2B) and businesses targeting consumers (B2C) in the ways that they approach online brand engagement. Certainly B2B and B2C companies are gaining equal amounts of utility from peer-to-peer referrals. The differences lie in how and where they are best able to leverage these referrals and convert leads to sales.
If you were to print the amount of photos uploaded to Facebook in a single day, they would stack taller than 8 Eiffel Towers.
Rome wasn’t built in a day, and neither are Fortune 500 companies. It takes time, determination, and an accurate understanding of the key metrics driving the success of your brand (or empire).
When it comes to driving sales, the growing number of word-of-mouth marketing benefits should be considered. According to research by Nielsen, 92% of people trust recommendations from friends and family more than all other forms of marketing. The same study found that less than half of all customers consider traditional paid advertising to be credible—that’s a decrease of more than 20% since 2009!
Loss Aversion, Scarcity, & Customer Acquisition
Any company that claims to have never made a marketing blunder is not to be trusted. In the infamous words of John C. Maxwell, “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” Marketing mistakes happen — and so do reporting blunders. How you adapt to, fix, and learn from your marketing reporting blunders is what matters.
FOMO: Fear of Missing Out. According to a Mashable article by Samantha Murphy Kelly, “Report: 56% of Social Media Users” Suffer From FOMO,” it’s a common problem. People who suffer from severe FOMO would give up chocolate for social media if ever presented with such a cruel choice. Most marketers probably already suffer from mild to moderate FOMO, but marketing FOMO is a greater problem than worrying about missing out on the latest online gossip; it’s the fear of missing out on the latest social media platforms, content strategies, and other marketing trends that impact bottom-line revenue.
Can you feel the heat? If so, you’re not alone.
CMOs are being held to higher standards each year to improve efficiency of spend, maximize ROI, and provide transparent impact to bottom-line sales revenue, CMO.com reports. And showing a positive return on investment isn’t just important for gaining buy-in from the rest of the C-Suite. It’s personal, too — in many cases, ROI is how a marketer’s job performance is evaluated.
And then there’s the age old question: how do you prove ROI? Especially when there are multiple channels, multiple touchpoints, and a million different ways customers can engage with your brand.
And the modern answer is far more complex than a last-touch attribution model. Here are 4 key steps to keep in mind when you’re proving ROI:
These days, consumers are turning to the internet more than any other source to learn about brands and make purchasing decisions. In fact, according to a study by GE Capital, 81% of consumers say they turn to the web to do research before making a purchase. What if the information that’s floating around in cyberspace doesn’t necessarily paint your business in the best light? While you can’t completely control what’s said about you on the web, you can take measures to counteract and protect your online reputation. If you’ve had a few mishaps in the past and your online persona could use a bit of a makeover, here are a few tips to get you back on track.
If you asked 20 marketing experts what the most important social media metrics are, chances are you’d get 20 different responses. The truth is, SMM is a very broad topic, and there isn’t a one-size-fits-all way to measure success. Yet, it’s critically important to understand what is (and isn’t) working so you’re not wasting valuable marketing dollars heading in the wrong direction.