Is Social Media Just Winning Price Sensitive Customers?

Box o' couponsIn social media, marketers buy attention with promotions or discounts. And research shows consumers expect this from marketers. 44% connect with brands on Twitter for discounts (source). The problem is, buying attention is an old school mindset, plopped into a new communication paradigm.

For social media to become an important part of the marketing mix and create loyal customers, it cannot continue to rely on tactics that reinforce consumer price sensitivity. Consistent discounts and promotions erode your pricing power; preference increases your pricing power. Read more of this post

TV Really Is Easier to Measure than Social Media

KMart’s CMO made waves recently by saying TV, and other traditional channels, are easier to measure than social media.

Social media proponents responded, defending social media’s measurability and highlight the data social media provides. My favorite was this tweet from Jay Baer (who I have a tremendous amount of respect for and I don’t disagree with lightly).

http://twitter.com/#!/jaybaer/status/93742009034084352

The problem is, most social media measurement is myopic. Read more of this post

Three Questions for Measuring Social, Not Media

You Manage What You Measure.broken dreams, broken heart, broken relationship, broken key

This should be a call to ensure you measure your social media activities, and to measure them correctly.

One of the challenges of measuring social media ROI is the return comes in many different forms. As companies develop social media plans and programs, anticipating the ways social media will deliver ROI is a challenge few have addressed. Most companies quickly implement traditional media measurements, slightly adapted for social media.

Before you continue, ask the following questions: Read more of this post

Email Marketing 2.0 is Facebook and More

The Changes to Email Marketing will Not End with Facebook.

Jay Baer proposed in a blog post on Monday that Facebook for  Business is Email Marketing 2.0, and that email can then be used to value marketing efforts on Facebook. It is an excellent approach, and I think most comments missed the point. Facebook marketing and email marketing are both about developing an audience that allows you to engage over time.

Facebook is (part of) Email Marketing 2.0.

The most important part of the heading isn’t Facebook, it is Email 2.0. Both Facebook and email are used by companies to distribute information. But email marketing is a one-way blast channel.

Email Marketing 2.0 should look vastly different from today’s email marketing. With all due respect to the email providers integrating social sharing into email, that does not make email marketing a platform for sharing and discussing. It continues to be a one-way channel, at times simply promoting discussion or sharing elsewhere.

Read more of this post

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