Ever wonder exactly how a social sweepstakes ties in with the idea of “viral” marketing?
In this article, I’ll analyze the concepts affecting a social media “viral sweepstakes” and how marketers can and (potentially) should take advantage.
What Exactly Is the Meaning of the Term Viral?
Marketers use the term viral to describe media proliferation in two different contexts.
On one hand, viral can describe “massive engagement;” i.e., when droves of people sign up for a particularly enticing offer. Alternatively, “views” can go viral, which occurs when people share a brand campaign with others many times over.
In my prior Social Media Examiner article about Social Media return on investment (ROI), I discussed the financial definition of social media ROI.
This article goes a step deeper by working through a few examples of estimating the social media ROI.
Why Estimate a Return?
Before we go any further, let’s review why we need the social media return and ROI again.
You use the return and the ROI to compare the efficiency of marketing campaigns; for an in-house team, you can use these numbers to negotiate budgets with your management; for agencies, you can use estimated numbers to land prospective clients and to retain current clients. The numbers are used in conjunction with social and web metrics to analyze and optimize current and future campaigns.
Are you struggling to find measurements that are meaningful to your organization? Do you feel like you’re searching for a needle in a haystack of metrics?
Here are 8 useful metrics that you may not be measuring, but should be.
#1: Conversion Rates
Everyone wants to measure the volume of leads generated to get to the bottom-line ROI of social media efforts. But don’t forget about the value of the conversion rate! While the volume may not be there yet, the propensity to convert may be staring you right in the face.
Social media integration is becoming a big buzzword this year. As social media marketing matures and starts playing a bigger role within marketing campaigns, businesses are beginning to see that social media can be integrated into many channels.
Here are two current studies that show how the integration of social media marketing is changing the way marketers connect and engage with their audiences—online and offline.
#1: Marketers Ditch Silo Campaigns and Report Social Media as “Critical for Success” (Alterian)
As digital and social media marketing mature, the demand for greater integration is evident. Marketers are quickly realizing that operating in a one-way marketing tunnel makes success impossible in this social media–saturated world.