Although Facebook is an important and
incredibly useful tool for many brands, its impact has been wildly overstated
on three fronts.
First, the belief that social media somehow changes or even revolutionises the business of marketing communications. Second, the widespread promotion of social media as a relevant tool for all brands, in all situations. Third, the wild defence of social media by acolytes of the discipline who reject any and all criticism of it as the actions of out-of-touch dinosaurs rather than objective marketers keen to assess value through critical thinking.
As more and more brands pump ever greater proportions of their marketing budgets into social media, there has emerged a desire to prove that these investments are worthwhile.
Initially, therefore, there was a concerted attempt to show that driving the numbers of consumers that liked you on Facebook conferred immediate and inarguable financial advantages. In 2010, social measurement firm Syncapse put the revenue potential of each Facebook fan at an impressive (and highly unlikely) $138.38. More recently ChompOn assessed the value of each ’like’ as $8 per head, while Vitrue, another online firm, estimated their value at $3.60.
However, there was always a sense that these simplistic and rather arbitrary estimates were doing more harm than good. Indeed, more than one senior marketer has sat in stony silence at the end of a social media presentation unsure of whether what they have just seen is good, bad or something in between.
First, the belief that social media somehow changes or even revolutionises the business of marketing communications. Second, the widespread promotion of social media as a relevant tool for all brands, in all situations. Third, the wild defence of social media by acolytes of the discipline who reject any and all criticism of it as the actions of out-of-touch dinosaurs rather than objective marketers keen to assess value through critical thinking.
As more and more brands pump ever greater proportions of their marketing budgets into social media, there has emerged a desire to prove that these investments are worthwhile.
Initially, therefore, there was a concerted attempt to show that driving the numbers of consumers that liked you on Facebook conferred immediate and inarguable financial advantages. In 2010, social measurement firm Syncapse put the revenue potential of each Facebook fan at an impressive (and highly unlikely) $138.38. More recently ChompOn assessed the value of each ’like’ as $8 per head, while Vitrue, another online firm, estimated their value at $3.60.
However, there was always a sense that these simplistic and rather arbitrary estimates were doing more harm than good. Indeed, more than one senior marketer has sat in stony silence at the end of a social media presentation unsure of whether what they have just seen is good, bad or something in between.
Use Shopper's Voice and immediately become: 1.Totally Accountable. 2. Increase sales. 3. Involving. 4. Interactive
Contact: Paul Ashby on (44) 01934 620047 or paulashby40@yahoo.com or http://interactivetelevisionorinteractivetv.blogspot.com
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