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I recently did a study on what works and what doesn't from a social media automation perspective. The quick-and-dirty results:
I totally value the best practice model you suggest here, but figured you might like a little bit of data to back up your recommendations ;) You can find the full results of the study at:
Have a good one.
Mike and Jackie -
I'm really happy that we're focusing on this issue, as I think it's the biggest one in all of social media marketing at the moment. Jeremiah Owyang agrees. I tend to agree with Mike that there is a lot missing in these equations, but I do believe that they get the high-level picture right. Most importantly, Jackie should be applauded for generating a lot of interest around an important topic!
Mike, you're 100% right that there is a lot that goes into measuring ROI in social media marketing before you can even begin to apply formulas. The problem is primarily one of attribution--specifically, who gets credit for sales that you make? Social media marketing efforts tend to be intent-generating rather than intent-harvesting, and social media marketers often get shafted by paid media (especially search marketing) when it comes to getting credit.
I've done a lot of work around this...if you're interested feel free to read my most recent post on this topic from back in December. ROI can be measured--marketers just need to be smart about the tools and methodologies they choose.
All the best guys and gals; keep hammering on this topic as it needs the attention!