The Feed: Social Media ROI
Social media. It’s becoming a prerequisite for any marketing strategy. It might be delivered through the digital marketing company, PR agency or specialist social media agency. Either way we’re all reporting on our results. Or are we? And should we be? Apparently only one out of three companies is currently tracking social media ROI.
With the constant questioning of Twitter measure of influence ‘Klout’ and the unreliability of automatic sentiment analysis we can’t even be sure that what we’re measuring is even accurate?
“Our digital channels provide a number of different functions for Umbro, from brand building and fan interaction to customer service and PR. In all matters, it’s important for us to track the ways in which people connect with us, what they’re doing when they do connect with us, and what we can do to make this experience better.”
Also on the panel, we have Robin Wilson – Director of PR & social media at McCann @robin1966, Jessica Lowe – Press and Marketing Manager, Harvey Nichols Manchester @HN_Manchester and Dan Lukas – Director of Needle, a digital research and analytics agency @needleinsights.
Dan gives us an idea of how he feels about the subject:
“The conversation around social media ROI is dominated by measurement. Every day, we’re told we need to be monitoring a dozen new metrics with as many brilliant new tools. But the problem isn’t a lack of measurement, in the first instance. The problem is that we’re dealing with incredibly complex and sensitive systems, systems that humans simply aren’t engineered to understand. We’re failing to make sense of the data we do have because we lack explicit models of how social media actually works. If agencies and organisations really want to make social media measurable, if they want to start generating actionable insights, then they need to stop obsessing over the latest metrics and start investing in new techniques of analysis.”
Do you agree? Come and take part in the debate