Thinking about the ROI of social media marketing — or any marketing — makes business owners think that marketing is some kind of slot machine, where they put money in and hope more money comes out. Instead, think about how you can generate greater profits with your social media marketing by using social media to reduce expenses and increase revenue.
Marketing must maintain a level of discipline to be successful, and filtered opinions can help more than a sea of unsolicited ideas.
The mistake I see people making is thinking about marketing like some kind of magic pixie dust sprinkled around when the need arises. Marketing isn't any less important than the products and services you deliver or the people who provide them.
But smart companies see marketing as an integral part of doing business — a necessity no less important than the company email system, their computers, or their office lease.
Discipline is the secret ingredient of success. Disciplined organizations find what works and focus on improving it. They are not distracted by the “new and shiny.”
Sometimes small changes can generate huge results. Find ways to make small changes to existing processes and measure their impact.
Grand efforts take considerable time and resources. The savvy organization looks for ways to tweak existing processes in ways that benefit customers.
Most of the brands you love like Apple, Southwest Airlines, or Nordstrom inherently appreciate that marketing is a fundamental part of their business. It gets baked into the products and services — it’s not just a line item on a P&L like the heating bill.
If you find yourself making decisions that benefit your organization at the customer’s expense, you probably will disappoint them. So find the one or two things that make them feel special, and deliver those with the flair of an entertainer.
Thinking about the ROI of social media marketing — or any marketing — makes business owners think that marketing is some kind of slot machine, where they put money in and hope more money comes out. Instead, think about how you can generate greater profits with your social media marketing by using social media to reduce expenses and increase revenue.