189: You're Measuring Social Media ROI All Wrong
Your Digital Marketing Coach with Neal SchafferDecember 02, 202000:28:1519.48 MB

189: You're Measuring Social Media ROI All Wrong

Since publishing The Age of Influence, my thoughts on influencer marketing and social media marketing in general continue to evolve. As I prepare for the writing of my next book, I wanted to share with you my latest views on how you and your business can best leverage social media for marketing in 2021 and beyond: By looking at social media as a marketplace for collaboration and strategically moving social media users through your funnel of Social Media Relationships.

Key Highlights

[02:55] The Concept of Social Media Relationships

[04:29] Why Are You Not Getting More From Social Media?

[05:17] Social Media Is About Collaboration

[07:36] The Funnel of Social Media Relationships

[08:05] Getting Your Audience In The Tier of Followers and Engagers

[09:28] Social Share of Voice

[12:25] Why You Should Not Ignore Engagements From Your Followers

[17:28] The ROI of Deepening Relationships With People

[18:18] Why You Need to Incite Word of Mouth Marketing

[21:06] Working With Influencers

[23:53] What Can You Get from Collaborating with Influencers?

[26:10] Invest In People Instead of Paid Advertising

Notable Quotes

  • The algorithms favor people's content over businesses content because businesses tend to post promotional content.
  • Social media should not be about marketing, but about collaboration.
  • Just by sort of retooling how we think about social media, I believe, you begin to measure the right activities.
  • If you listen, it gives you infinite source of data regarding consumer demographics and buying trends. It helps you gauge consumers interests, how they interact with competitors, and content. And it helps measure the aggregate interaction between a brand and the public.
  • Every engagement that you get on social media is an opportunity to deepen that relationship.
  • Instead of thinking of social media as how many clicks that I get still important, but maybe it's how many people that I engage in conversation today.
  • Social media when when it was born, it was all about word of mouth marketing, that just does not happen organically any more. We need to incite word of mouth marketing. 
  • We Truly treasure, not just the relatability, but also the authenticity and the realness that people bring that it's just hard for businesses to replicate. 
  • The biggest ROI of you know, going above and beyond advocacy is the byproduct of influencer relationships, which is content, the content that you can co-create, or you can have created for you can be a big boon for all of your digital marketing.

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