In this interview, we talk about social media marketing, Jay’s experience writing the book and about where this crazy, fast-moving industry is headed.
Mike: Jay, what’s the single most important thing that marketers or business owners need to know to be successful right now?
Jay: It’s a terrific question. One of the things that we talked about a lot in the book is the fact that you have to act quickly as an organization. The example that we use to kick off the book is if you’re at a hotel and you’re having a bad hotel experience—it’s dirty or gross or whatever—historically, you might go down to the front desk, or call the 1-800 number or write a letter.
When Intuit wanted to analyze market sentiment about TurboTax, they used Radian6 to collect approximately 40,000 blog posts about Intuit and its competitors between January 1st and April 15th of 2008.
“None of [the team working on this project] felt artificial intelligence was going to come to their aid any day soon,” says Jim Sterne in his book, Social Media Metrics: How to Measure and Optimize Your Marketing Investment.
Although many marketers see the value and potential of social media marketing, most have yet to translate that into sales, found a new report by R2integrated.
According to the study, 65% of respondents said that their companies have not increased revenue or profited using social media. When asked about their biggest impediment, 36% of the respondents cited “not enough data or analytics to develop ROI” as their #1 challenge.
A few key finding determined what set the winners apart from the losers.