If you think the word 'branding' is a bad word, especially with respect to ROI for social media, then it might be time to do some more research.
I've had several conversations with marketing managers in the last few months who only focus on one specific thing, that being the bottom line of a marketing 'campaign.' Many won't allow the notion of branding into their strategy mainly due to "the economy" and "who can measure a brand anyway?"
This type of thinking is archaic, especially with respect to the fundamental reasons why people make buying decisions to begin with. We have all the data in the world at our fingertips and yet far too often we allow analytical people and their tunnel vision processes to manage the lifeblood of our businesses.
Marketing works
Marketing works. It does. No matter how many people tell you it doesn't affect them, the fact of the matter is any trip to the mall will give you all the evidence you need. Guys wearing Nike or Hurley logos from head to toe or women adorning rhinestone Bebe tees and luxury brand purses are a dime a dozen whereever I go. Heck, the economic free-for-all we witnessed just a few years ago was powered by a cocktail of consumption that all began with marketing efforts to the 'buy things you don't need' crowd.
Marketing is necessary for all businesses to thrive and provide the jobs we all need. There is a longtail of products and services out there because companies have actually responded to people's preferences for 250 different types of cereal. Give them what they need is a fair approach, but if it's delivered with an industrial business mindset in this day and age it has a poor chance of working effectively.
Since the marketplace has changed so drastically due to technology and social platforms are a product of that change why would any business not seriously restructure how they communicate to those people??
Change now
America's corporate ingenuity is at an all-time low due in part to the fat and happy crowd who have made their money with these calculative methods. It works for a select few and credit should be given where it is due, but what we've all witnessed in the continuing slow death of media conglomerates is just one example of where many business markets will be if they don't change - and change soon.
Contrary to popular opinion ROI metrics do exist and are getting better every day. Of course, its important, but don't buy into the notion that it will drive this crowd-powered movement.
Can you weave ROI friendly messaging with brand strategy to satisfy the two? It can be done.
From the eConsultancy blog, some impactful data via Performics Marketing.
"About 30% admitted to learning about a product, service or brand on a social network site. About a third (27%) are receptive to receiving invitations for events, special offers or promotions from advertisers through the sites, and 25% said they have gone directly to an online retailer or ecommerce site after learning about a product or service on Facebook, Twitter or another social site."
