<?xml version="1.0" encoding="UTF-8"?> <rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" ><channel><title>Social Media Examiner &#187; cost</title> <atom:link href="http://www.socialmediaexaminer.com/tag/cost/feed/" rel="self" type="application/rss+xml" /><link>http://www.socialmediaexaminer.com</link> <description>Your Guide to the Social Media Jungle</description> <lastBuildDate>Sat, 11 Feb 2012 15:47:14 +0000</lastBuildDate> <language>en</language> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <item><title>7 Tips for Selling Executives on Social Media</title><link>http://www.socialmediaexaminer.com/7-tips-for-selling-executives-on-social-media/</link> <comments>http://www.socialmediaexaminer.com/7-tips-for-selling-executives-on-social-media/#comments</comments> <pubDate>Mon, 11 Apr 2011 12:00:02 +0000</pubDate> <dc:creator>Nichole Kelly</dc:creator> <category><![CDATA[How To]]></category> <category><![CDATA[View Points]]></category> <category><![CDATA[benchmarks]]></category> <category><![CDATA[buy-in]]></category> <category><![CDATA[cost]]></category> <category><![CDATA[cost metrics]]></category> <category><![CDATA[cost per subscriber]]></category> <category><![CDATA[executive]]></category> <category><![CDATA[executvie reports]]></category> <category><![CDATA[management]]></category> <category><![CDATA[nichole kelly]]></category> <category><![CDATA[revenue]]></category> <category><![CDATA[sales]]></category> <category><![CDATA[social media]]></category> <category><![CDATA[social media management]]></category> <category><![CDATA[social media measurement]]></category> <category><![CDATA[social media metrics]]></category><guid isPermaLink="false">http://www.socialmediaexaminer.com/?p=9080</guid> <description><![CDATA[Are you a marketer who’s trying to juggle social media with the rest of your team’s activities? Do you think social media should be at the top of your priorities, but you’re having a hard time proving it? Don’t worry. You aren’t alone. I fought this battle also, and in the end I realized that [...]]]></description> <content:encoded><![CDATA[<p><a href="http://www.socialmediaexaminer.com/category/view-points/" target="_blank"><img class="alignright" title=" social media viewpoint" src="http://cdn.socialmediaexaminer.com/images/viewpoint-pose.png?9d7bd4" alt="social media viewpoints" width="125" height="166" /></a>Are you a marketer who’s trying to juggle social media with the rest of your team’s activities? Do you think social media should be at the top of your priorities, but you’re having a hard time proving it?</p><p>Don’t worry. You aren’t alone.</p><p>I fought this battle also, and in the end I realized that I needed to drop terms like <em>followers, retweets </em>and<em> status updates</em> from my discussions in executive meetings. It was a tough conclusion, but I realized those metrics didn’t tell executives what they wanted to know.</p><p>This article will share 7 tips for getting executive buy-in for social media.<span id="more-9080"></span></p><h3>#1: Identify with the mindset of executives</h3><div class="wp-caption alignright" style="width: 242px"><img src="http://cdn.socialmediaexaminer.com/images/0411nk-corporate-horizon.jpg?9d7bd4" alt="corporate horizon" width="232" height="156" /><p class="wp-caption-text">It&#39;s important to work together to measure social media optimization.</p></div><p>Think about social media measurement differently. Try to <strong>remove all jargon and put it into a language that executives can understand and ultimately help tie results to the bottom line</strong>.</p><p><a href="http://www.jeffbullas.com/2010/02/25/how-ceos-and-executives-socialize-their-brands/" target="_blank">Executives</a> think at a 50,000-foot view. Most of them aren’t looking at metrics like daily site traffic; they’re looking at sales reports. Their benchmarks are different than what we’re used to measuring ourselves.  It’s mission-critical that you <strong>align your benchmarks with theirs</strong>.</p><h3>#2: Show them the money</h3><p>Because social media is new territory for them, it’s too complex to try to teach them the “new” measurements and have them make the connection to what matters to the company on their own.</p><p>To be successful, you need to clearly make the connection for them.<strong> </strong>There is one way to do this and eliminate confusion. SHOW THEM THE MONEY! Yes, that is a shameless <em>Jerry McGuire</em> reference. But it’s extremely relevant.  <strong>Transform your conversation with executives about social media into how it impacts sales, revenue and costs</strong>.</p><p>These three items are at the top of every executive’s mind. They look at reports every single day to determine whether the company is meeting its sales and revenue projections and they watch costs like hawks to make sure profits aren’t being eroded.</p><p>Your challenge is to <strong>find a way to put social media into the context of how it impacts these core metrics</strong>, so you can finally break through and get your executives excited about the possibilities that social media brings to the company.</p><h3>#3: Stop freaking out</h3><div class="wp-caption alignright" style="width: 208px"><img src="http://cdn.socialmediaexaminer.com/images/0411nk-panic-button.jpg?9d7bd4" alt="panic button" width="198" height="173" /><p class="wp-caption-text">Don&#39;t let fear prevent you from taking action.</p></div><p>Trust me, no-one knows more than I do that tying sales, revenue and cost to social media is darn near impossible from where you’re sitting right now. It sounds great in theory, but the execution is a whole different ball of wax. However, I will tell you it’s not impossible. <strong>With the right questions, the right tools and the right people in the room you can find a way</strong>.</p><h3>#4: Understand what you CAN measure today</h3><p>If you were to sit down and look at the three metrics—sales, revenue and cost—which ones can you measure today? I can probably answer this for you—cost. We pretty much all know what we’ve spent on social media in the last year and what we plan to spend this year.</p><h3>#5: Know what you CAN’T measure today</h3><div class="wp-caption alignright" style="width: 240px"><img src="http://cdn.socialmediaexaminer.com/images/0411nk-business-metrics.jpg?9d7bd4" alt="business metrics" width="230" height="152" /><p class="wp-caption-text">Having clear and concrete goals is important in calculating your return on investment.</p></div><p>Take a look at your company’s executive reports. What metrics are your executives actually looking at? What metrics are you struggling to get data on for social media? Is it revenue and sales (units sold)? It’s okay if it is, but your goal is to find a way to <strong>add social media into the mix</strong>.</p><h3>#6: Recognize what you’re dealing with</h3><p>What systems does your company use to <strong>generate the executive reports</strong>? Typically, it includes a <a href="http://www.salesforce.com/" target="_blank">Customer Relationship Management</a> (CRM) system, <a href="http://www.mytechopinion.com/2011/03/hootsuite-custom-social-media-analytical-reports.html" target="_blank">campaign reporting system</a>, <a href="http://www.google.com/analytics/" target="_blank">web analytics system</a> and potentially an accounting system if that isn’t part of your CRM package. <strong>Focus on how your other online activities are tied into these systems</strong>.</p><p>For example, how do you know if sales are coming from Google Adwords or organic search? How is that tracked, what systems does it pass through and where does the data end up?</p><p>Then we get to the tough part. Can you leverage any of these systems to <strong>track social media traffic</strong>? If you can’t do it with how they’re set up today, ask what modifications need to be made in order to include it.</p><h3>#7: Put together a plan for today and tomorrow</h3><div class="wp-caption alignright" style="width: 240px"><img src="http://cdn.socialmediaexaminer.com/images/0411nk-business-plan.jpg?9d7bd4" alt="business plan" width="230" height="153" /><p class="wp-caption-text">Your plan should include internal and external goals.</p></div><p>You&#8217;re probably going to have to do some work to <strong>get social media included into your existing metrics for the company</strong>. And unfortunately, that will take something we’re all lacking… time. But that’s okay because while you’re building for how you’ll measure in the future, you can also leverage what you know today. If you’re like me, that’s cost.</p><p>Here are three metrics you can probably get today. While they aren’t ideal executive metrics, they’ll <strong>tell a story that your executives will understand</strong>.</p><p><strong>Cost per site visit</strong></p><p>You can use the <a href="http://blog.webdistortion.com/2010/04/18/segmenting-social-media-campaigns-with-google-analytics/" target="_blank">referring URL</a> in your web tracking system to calculate the number of visits generated from social media channels and <strong>generate a cost per site visit to compare against other types of referrers</strong>.</p><p><strong>Cost per impression</strong></p><p>If your company is heavy on traditional advertising like TV and radio or public relations outreach, executives are used to looking at cost per impression metrics. You can use tools like <a href="http://tweetreach.com/" target="_blank">TweetReach</a> to get rough calculations for Twitter.</p><div class="wp-caption alignnone" style="width: 490px"><img src="http://cdn.socialmediaexaminer.com/images/0411nk-tweetreach.png?9d7bd4" alt="tweetreach" width="480" height="289" /><p class="wp-caption-text">TweetReach generates reports with key metrics like reach and exposure.</p></div><p><strong>Cost per subscriber</strong></p><p>If you can look at the referring URLs for your newsletter or email subscribers, you can also <strong>calculate the cost per subscriber</strong>. Think of this in terms of the cost of getting the email address of a prospect. Social media can generate really low costs per subscriber, giving it a leg up on some other online channels.</p><p>As more executives become interested in social media, it’s our responsibility to show them that it isn’t fluff and that it does contribute to the bottom line. You can check out these <a href="http://www.socialmediaexaminer.com/6-social-media-success-metrics-you-need-to-track/" target="_blank">6 Social Media Success Metrics You Need to Track</a>, <a href="http://www.socialmediaexaminer.com/8-social-media-metrics-you-should-be-measuring/" target="_blank">8 Social Media Metrics You Should Be Measuring</a> and this <a href="http://www.socialmediaexaminer.com/study-reveals-top-6-social-media-goals-for-2011/" target="_blank">Study Reveals Top 6 Social Media Goals for 2011</a>.  You can also check out this <a href="http://fullfrontalroi.com/subscribe-by-email/" target="_blank">33 page step-by-step guide</a>, if you’re up for the challenge.</p><p>Hopefully, these tips will help you get there.</p><p><strong>How about you? What kind of questions are your executives asking about social?</strong> Add your thoughts and share your perspective in the comment box below.</p><h5 style="text-align: right;">All photos from <a href="http://www.istockphoto.com/" target="_blank">iStockphoto</a>.</h5><div class="wp_twitter_button" style="float: right; margin-left: 10px;"> <a href="http://twitter.com/share?counturl=http%3A%2F%2Fwww.socialmediaexaminer.com%2F7-tips-for-selling-executives-on-social-media%2F" class="twitter-share-button" data-url="http://www.socialmediaexaminer.com/7-tips-for-selling-executives-on-social-media/" data-count="vertical" data-via="smexaminer" data-lang="" data-text="7 Tips for Selling Executives on Social Media &raquo; Social Media Examiner">Tweet</a><br /><script type="text/javascript" src="http://platform.twitter.com/widgets.js"></script></div> ]]></content:encoded> <wfw:commentRss>http://www.socialmediaexaminer.com/7-tips-for-selling-executives-on-social-media/feed/</wfw:commentRss> <slash:comments>6</slash:comments> </item> <item><title>5 Tips for Finding Time for Social Media</title><link>http://www.socialmediaexaminer.com/find-time-for-social-media/</link> <comments>http://www.socialmediaexaminer.com/find-time-for-social-media/#comments</comments> <pubDate>Thu, 19 Nov 2009 12:00:51 +0000</pubDate> <dc:creator>Chris Garrett</dc:creator> <category><![CDATA[How To]]></category> <category><![CDATA[bulk-produce]]></category> <category><![CDATA[closing]]></category> <category><![CDATA[conversation]]></category> <category><![CDATA[cost]]></category> <category><![CDATA[dead time]]></category> <category><![CDATA[distractions]]></category> <category><![CDATA[editorial calendar]]></category> <category><![CDATA[goal]]></category> <category><![CDATA[helpful]]></category> <category><![CDATA[internet]]></category> <category><![CDATA[lead generation]]></category> <category><![CDATA[link]]></category> <category><![CDATA[multichannel]]></category> <category><![CDATA[networking]]></category> <category><![CDATA[productivity]]></category> <category><![CDATA[reputation]]></category> <category><![CDATA[sales]]></category> <category><![CDATA[schedule]]></category> <category><![CDATA[semi-productive]]></category> <category><![CDATA[smart phone]]></category> <category><![CDATA[social media]]></category> <category><![CDATA[status update]]></category> <category><![CDATA[store up]]></category> <category><![CDATA[time management]]></category> <category><![CDATA[time suck]]></category> <category><![CDATA[tweet]]></category> <category><![CDATA[value]]></category><guid isPermaLink="false">http://www.socialmediaexaminer.com/?p=495</guid> <description><![CDATA[One of the major objections I hear about social media is about time. Do any of these sound familiar? &#8220;Who has time?&#8221; &#8220;You expect me to do all this on top of my normal duties?&#8221; &#8220;How do you fit everything in?&#8221; &#8230; and so on. I am not going to lie to you. Social media [...]]]></description> <content:encoded><![CDATA[<p><script type="text/javascript"></script><img class="alignright" style="margin-left: 5px; margin-right: 5px;" title="How to" src="http://cdn.socialmediaexaminer.com/images/how-to-pose.png?9d7bd4" alt="" width="190" height="166" />One of the major objections I hear about social media is about time.</p><p>Do any of these sound familiar? &#8220;Who has time?&#8221; &#8220;You expect me to do all this on top of my normal duties?&#8221; &#8220;How do you fit everything in?&#8221; &#8230; and so on.</p><p>I am not going to lie to you.<strong> Social media does take time</strong>. In fact, time is going to be one of your major hidden costs of doing business on the Internet.  And for some of us, that time could be wasted if we are not careful.</p><p>You need to watch where your time goes to ensure you&#8217;re spending it efficiently and with the desired impact.  Here are five tips to help you.<span id="more-495"></span></p><h3>#1: Spend Your Time Intentionally</h3><p><img class="alignright" src="http://cdn.socialmediaexaminer.com/images/9clocks.png?9d7bd4" alt="" width="278" height="278" />It&#8217;s all too easy to just chit chat, browse and surf, get distracted or feel like we are making progress when really we are avoiding work and using social media &#8220;engagement and interaction&#8221; as an excuse to procrastinate. <strong>There are good conversations and wasteful conversations and you need to decide which is which</strong>.</p><p>Consider a face-to-face networking event. Do you spend all of your time speaking to one person at that event about the weather, or do you spread yourself around a bit and find new and interesting people to connect with? Are you just hanging out or do you <strong>direct your efforts toward a precise tactical aim or specific goal</strong>?</p><p><em><strong>You need to know what you are doing and how you are going to measure your success. </strong></em></p><p>How does this help you find time? Well, most businesses and individuals already allocate time for marketing, networking and research. If you know that your social media activities come in under one of those headings, and your efforts in social media are going to achieve equal or better results to other things you could do under those headings, then you are equipped to carve out time to try social media instead.</p><h3>#2: Carve Out Time Where Social Media Is More Efficient</h3><p><strong>Because of my social media efforts, I no longer have to pitch, write proposals or go to sales meetings</strong>. I have never had to cold-call for my own business, and I do not write competitive bids.</p><p><em><strong>How much time could you save if you didn&#8217;t have to do this kind of sales lead generation or closing? </strong></em></p><p>In my previous job, I would have to spend more than six hours in a car just so I could go to one 30-minute sales presentation competing with several other companies with very little differentiation between us. Not only was it soul-destroying and a colossal waste of time, it was actually very ineffective.</p><p>I am not saying you will be able to 100% replace your old way of doing things with social media right away, and I would not suggest that is wise even if you could. But you should be able to <strong>take an hour or two out of a week to test social media and see how the results look</strong>. In fact, combining approaches usually works best, as each technique and medium compounds the results of the others. <strong>Reaching prospects through a multi-channel approach is normally much better than the sum of the parts</strong>.</p><p>The great thing about social media is you can pretty much get involved anywhere and any time.</p><h3>#3: Use &#8220;Dead&#8221; Time</h3><p>How much time do you spend just waiting? I was recently at a conference in Las Vegas and because of the long-haul nature of the travel and the fact that I would be alone much of the time, <strong>I did a lot of hanging around and waiting, which I filled with social media</strong>. Just think of your average business trip&#8230; What do you spend a lot of time doing?</p><ul><li>Flights</li><li>Taxis</li><li>Queues</li><li>Departure lounges</li><li>Restaurants</li><li>Meetings</li><li>Hotels</li><li>&#8230;?</li></ul><p>If, however, you have an Internet-connected laptop or smart phone, you can at least <strong>use some of this time to stay connected</strong>, <strong>engage with people</strong>, <strong>write some content</strong> or otherwise go from &#8220;hanging around&#8221; to being semi-productive. If nothing else, you will feel like you are not all alone in the world!</p><p>How long does it take to check your messages and send out a tweet, status update, check out a link, or answer a question? Seconds? Minutes at most?</p><p><em><strong>How many times during the day do you get the odd 10 minutes where you are simply waiting?</strong></em></p><p>Even at my desk I have to sit and wait, watching progress bars as something calculates, prints, renders or uploads. Those are prime &#8220;check what is happening in social media&#8221; times!</p><p>What if you find you have more than a few minutes to spare?</p><h3>#4: Escape, Bulk-Produce, Store Up and Schedule</h3><p>On those occasions <strong>when you have a good chunk of time, make the best possible use of that time and get a power hour of content produced</strong>.</p><ul><li><strong>Outline and write a set of blog posts to go out later</strong> when you are too busy</li><li><strong>Brainstorm and create ideas</strong>, <a href="http://www.cogniview.com/convert-pdf-to-excel/post/using-mind-maps-for-creativity-note-taking-and-productivity/">mind map your thoughts</a> and generate headlines</li><li><strong>Plan for the future</strong>, write up an editorial calendar, &#8220;most like to meet&#8221; list or line up meetings with people with whom you have lost contact</li><li><strong>Get organized </strong>and make your week more efficient with tasks, to-dos, filing and an empty inbox</li><li><strong>Write out some interesting tweets to go out over the next week</strong> so you only have to check in and reply each day</li></ul><p>One of my friends &#8220;escapes&#8221; to the coffee shop a couple of times a week and does all his content creation and planning for that week in those few concentrated hours. <strong>Being out of the office with zero interruptions </strong>(other than the constant stream of fresh latte) <strong>means he can bang out several quality items and his brain cooperates</strong>, rather than fights against his productivity with distractions and&#8230; Ooh, shiny!</p><h3>#5: Just Relax</h3><p>My last point is that this is not meant to be a chore. Nobody is testing you, tracking your use of time or holding you to any grading system. It should be useful and it should be fun!</p><p>Aim to build a reputation for being helpful and providing value, and most of all being a real human being. Then people will be much more forgiving and understanding. You do not need to be perfect.</p><p><em><strong>If you do not post an article this week, so what? Your Twitter followers might be concerned if you do not appear for a few days, but they are not going to start saying bad things about you if you are too busy to tweet!</strong></em></p><p>For me, social media is primarily social. It is my coffee break. Yes, I do find it a very effective set of tools for my business, but I also deeply appreciate the people who are at the other end of those avatars and tools. <strong>If you keep relationships foremost in your mind and do not treat social media as something you <em>have to do or else</em>, you will have much greater success at it!</strong></p><p style="text-align: left;"><strong>What do you think? </strong>Have you struggled to find time? How do you find time for social media? Please share your comments below&#8230;</p><h6 style="text-align: right;">Photo by <a href="http://www.flickr.com/photos/lwr/"><strong>Leo Reynolds</strong></a></h6><p style="text-align: left;"><div class="wp_twitter_button" style="float: right; margin-left: 10px;"> <a href="http://twitter.com/share?counturl=http%3A%2F%2Fwww.socialmediaexaminer.com%2Ffind-time-for-social-media%2F" class="twitter-share-button" data-url="http://www.socialmediaexaminer.com/find-time-for-social-media/" data-count="vertical" data-via="smexaminer" data-lang="" data-text="5 Tips for Finding Time for Social Media &raquo; Social Media Examiner">Tweet</a><br /><script type="text/javascript" src="http://platform.twitter.com/widgets.js"></script></div> ]]></content:encoded> <wfw:commentRss>http://www.socialmediaexaminer.com/find-time-for-social-media/feed/</wfw:commentRss> <slash:comments>40</slash:comments> </item> </channel> </rss>
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