90% of branded social media marketing will fail | New Media and Marketing #socialmedia #howtosucceed #TechyGoddess

Brands that implement social media marketing programs have a 1 in 10 chance in succeeding.   That stat comes from a soon to be released report* called Social Media Marketing and the Realities of Real ROI which will be released next week.  The company researched over 100 social media brand pages/accounts and found that 90% of them did not lead to conversion or ROI they were just idle chatter.  In addition an alarming number of brands failed to respond to consumers when they posted a complaint or asked for help.

If this comes as a surprise to you than you need to read more about empowered consumers.   Why are so many social media marketing programs failing ?  Here is my list:

(1) Failure to understand the channel – All social networks have different dynamics and different users.  What works on Facebook may not work on Twitter.  You need to understand what works and what doesn’t work.

(2) Failure to use the necessary resources – No,  just building a Facebook page and sitting back waiting for results does not equal success.

(3) Failure to develop a strategy that includes measurement directly related to brand/business drivers – When you develop your social media strategy you have to continually ask how are we going to measure it and will this lead to an ROI ?

(4) Using an intern as the voice of your brand on social media – Sorry but I want someone who understands my brand, company and marketing so that they can turn prospects into customers and solve problems

(5) Posting too often or too little – Enough said here.

(6) Your content is not magnetic – Magnetic content draws people in and makes them want to know more and share it with their friends.

(7) Finally, expecting immediate results – No relationship is going to lead to a wedding within a few weeks or few months.  People need to learn to trust you and you have to continually earn that their trust.

Think of social media this way; you build a great house on a hill with lot’s of signs to invite people to stop by.  However those people that stop by need a reason to stay and talk to you or else they will leave and say “no big deal”.

Social media marketing should support one of three key brand objectives: increase sales, lower costs or improve customer service. If it’s not doing that than you’re wasting time and money.

*The report is going to be available at a considerable price ($15K) but since I helped with the research guidelines I am going to be getting a free copy and will share what the publisher allows me to share.  I tried to get them to give the research away for free but it cost’s almost $150K for the 5 month program.

 

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