This article shows the non-sense big marketing agencies are selling to big brands and how brands can do better in having some ROI from their efforts. – Social Media Is A Sales Driver, If You Treat It As Such!
Literally for years I am telling everyone who wants to hear it (or not) that social media is a sales driver, if you treat it as such. What I have earned at the beginning was a lot of abuse. Now, times have changed. Some of the abusers are coming back with a changed opinion and roses and praise. Well, the roses weren’t necessary, I usually don’t hold any grudge against anyone. I am happy with the last laugh…
A coupe of days ago I read this post. The post is about what someone has witnessed in a conference call between one of the biggest marketing agencies in the world and a huge global brand. When I read the article, I almost broke out in tears. To make it short, the agency reported 2,000,000 impressions, a click-through-rate of .6% and a cost of just over $10.00 per click. In other words, the brand paid $120,000 for 12,000 clicks! Hilarious, if it wouldn’t be so sad. The brand was running 6 of these campaigns. You do the math what this brand spent for, relative to spending, a few clicks. The agency went on to praise the impressions and the clicks, can you believe that?
What we have here is, in my opinion, almost fraud. Over $700,000 spent for little over 70,000 clicks. No information who bought or if anyone bought at all. I don’t know how these agencies and brands measure, but if I spend $700,000 I want something back that counts in my books.
Unfortunately, activities like this one are not single incidents. While changes are slowly visible, non-sense such as this is still common practice. There are still too many that value likes, followers and other worthless metrics. It goes so far, that big brands still, today, buy followers for their Twitter and other accounts.
Now, these likes, followers and the other useless metrics don’t have to be useless. If you understand what they (not the bought ones, but the real ones) actually mean, you made the first step towards monetizing on them. The problem is, agencies, brands, influencers and others don’t understand what these are. I agree with the writer of described post, they are all blindfolded by their own vanity and love the spotlight. Likes and followers are visible and revenue dollars are not. Besides that, in a time when many talk about the advantages of big data (another non-sense many marketers love), revenue dollars in the seven and eight digit’s require real hard work. To do that work seems not to be in the play book in social media marketing.
In order to explain what real followers, likers, pinners and others are, let me ask you a question:
Would you staff your brick-and-mortar store?
Rather than running a survey, I will answer the question: Of course you would. With sales people! Your social media property, no matter which one, is your showroom or store. People visit your brand and product there. If they like your page or follow, they are potential buyers. Many of them are actually already customers. I used to describe what’s happening here with the example of a car dealership. Imagine, someone walk into your showroom and sneaks around the various cars and no sales guy ever approaches the obviously interested potential buyer. If you are the owner or sales manager, what would you think about these “sales practices”? In order to make the entire thing click, I am going to ask you another question:
Why don’t you staff your social media properties where you would love to finally see an ROI?
If you want to get some real ROI, also known as sales, on your social media marketing efforts, here is what you need to do:
- Stop buying followers on Twitter and likes on Facebook
- Immediately half your Facebook marketing expenses
- Stop trying to be cool, start following back your followers. Filter out faked followers and other stuff you can’t be involved with.
- Make sure every social media property of yours that carries your brand name, is staffed with people that are able to handle inquiries of visitors. Make sure they can sell as well.
- Make sure you create a sales code for each social media property, so that you can measure where a sale is coming from.
- Engage, engage, engage! Talk to people, just like you want your people to talk in your stores.
- Stop thinking about big data in social media marketing. It will not provide you with a better chance to sell. You will only increase expenses for expensive software and hiring analysts. Your ROI will stay in the low, low, low digits, probably with a dot before the number. Once the consumer is sending a robot to shop for their stuff, then you can think about big data. Until then, you are dealing with people.
If you now think staffing your social media properties is too expensive here are two more things you need to do:
- Check out the expenses for nothing on top of this article.
- Stop looking at the consulting handbook and the chapter on how to save on overhead costs. Your “big 5” consulting company is not different than the agency mentioned above. They need to sell their wisdom, which in the most cases is about 5 years, or more, behind. They will also sell you 15 contractors that are supposed to help you in implementing “big data”.
If you still have questions, contact me and I will help you to get set up. In the most cases I will do it for free.