Social media is losing the war on ROI.
It's all about Social Media
Last year, in the US alone, brands spent upwards of $3BN on social. Sure, there’s a long tail value in building your brand on social & nurturing your community but this is not sustainable. It’s unrealistic to think that bottomless pockets will go on supporting our industry indefinitely.
That’s the noise I hear in my head every time i’m on Facebook and it’s the first hurdle of a massive problem. User-experience (UX) testing is considered to be an important part of any website design/build process. Yet these lessons aren’t being taken forwards onto Facebook.
- How many user’s dropped off before they got past the landing page on your last campaign?
- Can you put a conversion value next to your last campaign?
- How many new ‘Fans’ would continue interacting with your brand if you stopped spend?
Every brand should be asking these questions at the beginning/middle/end of a campaign & their agencies should be helping them deconstruct. As an industry we should be trying to increase engagement and help our clients measure their ROI. It’s an ongoing process, starting with clever planning and trying to get out of the habit of calling something finished…
What have we learnt so far?
- Time spent designing, planning, testing, iterating will reduce paid media spend
- Campaigns people love increase long-term, organic, growth
- It’s not a failure if you learn from it (and you can probably iterate before it fails)
Let’s cut out the mediocrity and create a more engaging, profitable social web.