Monday 05 December 2016

‘Problem Solved’ For CMO’s Biggest Challenge: Social Media ROI

A 2011 IBM study of more than 1,700 CMOs revealed that most of them feel underprepared to manage the impact of key changes in the social media landscape. While 82 percent say they plan to increase their use and investment of social media over the next three to five years, many are scratching their heads when it comes to measuring the impact of those investments. And while nearly two-thirds of the CMOs surveyed do believe that measuring ROI will be the primary metric by 2015; most sophisticated organizations (50 percent, in fact) feel insufficiently prepared to provide those hard numbers today.

Another study by Columbia Business School Center on Global Brand Leadership and the New York American Marketing Association, found that 57% of CMOs and other marketing executives don’t establish their budgets according to ROI measurements. And, sixty-eight percent of respondents said they base their budget decisions on historical spending levels, while 28% said they go with gut instinct. And 7% said most of or all their spending decisions aren’t based on any metrics at all.

The good news is that CMOs don’t have to wait a full three years to start measuring ROI. They can start today and don’t have to rely on gut instinct either.

Yesterday, Adobe Systems* launched Adobe Social – part of their digital marketing suite. This is a new social marketing product that unifies social media engagement, listening, ad creation, app creation and analytics into one real-time platform. Using this technology, marketers can create, execute and optimize social media campaigns to immediately show measurable business results and calculate a return on investment. Here are few features of the product:

-       Streamline and centralize content publishing
-       Integrate Sponsored Story ad creation (Adobe Social is a Facebook Preferred Marketing Developer)
-       Monitor and moderate conversations
-       Identify and engage key influencers
-       Measure social media interactions
-       Capture real-time analytics

As a part of the launch, Adobe and Altimeter Analyst Jeremiah Owyang hosted a Twitter chat on the topic of “Cre­at­ing Busi­ness Value Through Social Media.” We used Storify to capture the essence of the conversation.  Enjoy.

[View the story "#SocialValue Twitter Chat" on Storify]

 

* Adobe is an Edelman client.

Hand image courtesy of BigStock.

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