When we examine the traditional media measures, PR and marketing professionals use the circulation of a magazine, times the cost of an ad in that magazine and that is the ROI. The difficulty is than when you publish an article in say a magazine, you cannot tell who read the article, dog eared it, forwarded or took action on it.
In social media the ability to measure activity and behavior on the social web can be much more precise is what he says – and based upon what I’ve seen so far, I agree.
Marcel suggests that an important thing for a brand to do, right now, is to at least start to listen. He states that the ultimate point for a brand is to get to the engagement stage with all the key business process that occur on line – PR, customer service / support, sales and marketing.
- PR will need to listen to monitor the brand and to finding influencers in the market.
- Customer support should can use the social web to find & address customer care issues (often at a lower cost than call in or direct routes)
- Sales needs to listen to particular clients, relative to their conversation regarding competitors, their brand or even to embrace a more personal relationship with a client
- Marketing listens to the point of need as well
Guy Powel and I wrap the podcast as Guy shares that a multi-dimensional approach, in general is lacking with most marketers in the traditional and social media space – traditional media does not always understand social media and vice versa. Which I think is the reason we’re working on the series – there will be a marriage of the two as social-based media becomes mainstream.
To support the effort in uncovering the ROI question in social media, we’ve set up a Fan Page at Facebook, a LinkedIn Group, a Google Wave and a special discussion group on the Social Media Bible Ning site.
Come join us and let us know what the pressing issues are in your efforts to determine an ROI in your social media presence.
Here are links to the previous segments in this series –
Transcript and Extended Recording
This is the final post in the interview with Marcel LeBrun, CEO of Radian6.
Guy and I both would like to thank Marcel for his time and willingness to meet and share his perspective on the topic. Below are a few links to material related to the interview that you may find useful; a transcript of the discussion and the entire conversation in one extended recording.
We’re very interested in your perspective on the topic and, if you have a favored presenter or person who can add to the conversation, please let us know – we’re looking to interview him / her and put it up here!
Thank you again to you our listeners – hope you enjoyed the effort and work we put into it!
About the Podcast, Transcript and Credit For Where Credit is Due – This transcript was developed from an interview held October 21 between Marcel LeBrun and Steven Groves.
The podcast interview was recorded at FreeConferenceCall.com, downloaded and processes in Audicity, downloaded from SourceForge with ‘4toFloor.wav’ music loop from member ‘Rooks’ and posted at SoundSnap.com.
Introduction voice is Cynthia Propst / TSMB Media, LLC.
The transcript provided by Cynthia Propst / TSMB Media, LLC.