7 Social Marketing Statements that Will THRILL Your CMOMarch 11, 2015
When it comes to pleasing our Chief Marketing Officers, social media progress is the last thing we want to talk about. That’s because Executive Leadership is tasked with developing the overall strategy and budget of a marketing plan, and most social ‘metrics’ (if you can call them that) make it hard to determine revenue, cost, and most importantly WORTH. We all know the feeling of shifting in our seats when our CMO asks “Are these efforts worth out time?”
But that was before new social media analytics came onto the scene in late 2014. So, without further ado, here are seven statements about your social media marketing GUARANTEED to make your CMO smile from ear to ear:
1. “Here’s our Brand’s Exact Social Media Reach”
Social media has always been thought to have tentative ROI (which is bunk ), meaning CMO’s love when you can show them that’s not the case. Social reach should be broken down into two components: the exact number of people that are contributing to your brand conversation, and your social impressions, i.e. the amount of people that have potentially seen your brand messaging. Social media analytics can show you if you’re actively growing this month over month, giving you hard, indisputable data that your efforts are worth the time investment.
2. “I Can Prove Social Media Campaign Growth”
Another thing CMOs want to hear is that social media marketing is improving (again,” is this worth your time?”). The best way to tell your supervisors is that you know what your success should look like with campaign comparison metrics. Social reach and impressions again come into play, but this time it’s benchmarking against your own efforts—to highlight the things that are working and prove beyond a doubt what strategies need to be scrapped.
3. Our Social Audiences AREN’T Anonymous.
One of the major reasons that people associate social media as being ROI-less is because of the ‘anonymity’ of audiences. Which isn’t really true. To validate your efforts with your CMO, start by providing a breakdown of who you are talking to. Today’s social demographic analytics today include everything you need to know, from gender, ethnicity, and age breakdowns to locating your marketing hot spots on a map. And CMOs pay more attention when they know that your content strategy is backed up by research.
4. “Over ______ amount of people were reached organically.”
Organic, aka FREE, conversions are the things all CMOs strive for. And the good news is, that social media was meant for just that type of reach. Again, the way to do this is by implementing the right type of social media analytics that show you exactly how many people were brought into your brand ecosystem (for example, the number of people that traveled to your website from a Twitter post). Remember, the metrics that CMOs live for aren’t just about engagement, but the action taken by consumers after the interaction occurred.
5. “I have a list of brand ambassadors that will advertise for us.”
It’s no surprise that influencer marketing is on the rise, because 90% of audiences trust peer recommendations over traditional marketing content. Social media is a great resource for marketers because it lets you connect with the people that could become your brand ambassadors. And today, there are influencer marketing tools that will instantly identify these individuals to your CMO—no manual resource time and effort from you required.
6. “We’ve stepped into new markets at zero cost.”
Remember in #3 when we said you could find out where your audience hot spots are located? Besides showing you which social network they prefer (to best align your marketing tactics on the right channels), these Geo Social tools also pinpoint the physical locations that would be most profitable for you to advertise and market in. Whether you want to keep it local, or expand your brand footprint globally, the best way to make a CMO’s day is by giving them opportunities backed up by real-time social data that minimizes risk.
7. “Our Conversion Rate From Social Has Cut Down our CAC.”
And finally: cost per customer acquisition (CAC). CAC is THE measuring stick for all marketing efforts, and until recently, was hard to nail down on social media. But now you can get closer, by allocating the number of people that you brought in from social that converted into paid customers (or whatever goal you choose). Our recommendation is to integrate your personal social media analytics into your handy dandy Google Analytics to be able to follow social audiences through their conversion process. Not only will your socially-brought-in clients lower your overall CAC, but you’ll also be able to contrast how low your social media CAC is compared to other types of marketing efforts.
These 7 sayings should thrill you, too. Because when it comes to your ability to prove deeper insight, lower cost, and higher success, you might just find yourself on the road to CMO someday soon.