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2017 Hispanic Social Marketing Report
HMO ● INSIGHTS
CAN SOCIAL MEDIA TRULY DELIVER ON ROI?
For skeptics who may look at social marketing and the dollars that are flowing to Facebook, YouTube, Snapchat, and the rest, one big question may come to mind: How do you determine a campaign’s real social media ROI?
This question was recently addressed by Nikki Kanter, who serves as the principal consultant at NK Communications Inc., a firm she launched to advise tech companies on the best use of digital and social media marketing, based on their needs.
Kanter answers this question by shedding the “vanity metrics” and getting down to the “nitty-gritty of what really drives business growth.”
SAVVY MARKETERS KNOW HOW TO DEVELOP A SOCIAL STRATEGY THAT OFFERS A NO- FAIL VALUE PROPOSITION BY MEASURING THE RIGHT DATA AND PIVOTING AS NEEDED TO MEET BUSINESS GOALS. THE VALUE IS ALWAYS PRESENT, AS LONG AS YOU MEASURE THE RIGHT SOCIAL MEDIA KPIS.
— Nikki Kanter
She notes, “Savvy marketers know how to develop a social strategy that offers a no-fail value proposition by measuring the right data and pivoting as needed to meet business goals. The value is always present, as long as you measure the right social media KPIs.”
Determining the best social media KPI comes down to several key determinations.
Do you need to reach a new audience?
Are you working with a startup that seeks demand prior to the investor and VC meetings?
Is an increase in sales the key driver of this initiative?
Could improvements in customer service and increased brand loyalty among your customers be the focal point of a social marketing effort?
“You have to know what’s your most valuable data,” Kanter says. “Let’s say you’re working with an established brand that’s changing its business model to reach a new, younger market. As a social media marketer, you want to demonstrate your ability to help the company attract this core audience.”