According to social media guru David Meerman Scott, trying to measure traditional marketing ROI is a waste of time. His e-book “Lose Control of Your Marketing” brings some interesting thoughts to light about the old techniques of offline ROI measurement and the new world of online marketing. Here’s what we think bubbles to the top of a 30-page document that’s worth a read:
• Sharing ideas, telling stories, and creating interest are more important than capturing lead information.
• The old rules of measurement don’t apply to the new world of online marketing. (i.e. number of business cards collected, email addresses captured, or folks that filled out a form on your website)
• The very act of tracking leads prevents great ideas from being shared. Today, most people know that providing information (in exchange for a white paper for example) only leads to unwanted phone calls and email solicitation … so most won’t even bother.
• Obsessing over precise ROI measurements causes marketers to become cautious and boring
The New Metrics
Here are some NEW metrics to consider in determining whether your Twitter, LinkedIn, and other online marketing efforts are paying off.
• How many people are downloading your stuff?
• How often are bloggers writing about you and your ideas?
• Where does your company appear in search results for important search phrases?
• How many people are getting exposed to your ideas?
• How many people are engaging with you and choosing to explore your offerings?
As the tools of social media have changed the world of B-to-B marketing, many organizations continue to implement the command-and-control (and measure) methods of the past. They spam customers with so-called “free offers” or pay a PR agency big bucks just to score a few press “hits.” Many folks create valuable information, and then prevent those ideas from being shared by using subtle coercion tactics (lead forms) to capture phone numbers, email addresses and other information. Think in terms of spreading ideas, not generating leads and measuring ROI. It’s time to give up control, stop worrying about ROI, and freely share your views.
The New Reality
We no longer control the sales process. Rather, our potential customers control the buying process … we need to forget about the old measures of ROI and start publishing information that our customers can use and share with others … which will ultimately lead them to you!
Lose Control of Your Marketing