Social media development can best be put into practice after it has been fully understood. There are a plethora of tools and visual aids available, to help companies better comprehend the vast web of the social media community. Here is a look at a few of them.
Social media ROI Calculators
The latest buzz in social media marketing is ROI. It has been a long time coming, and it seems like marketers are fully paying attention to the importance of measuring social media for their clients. It has become crucial for companies to make social media development part of their everyday tasks. Social media is not going anywhere, and company’s can no longer think that it will disappear. Where a company’s customers are, is where that company needs to be.
Social media ROI calculators are good tools for helping to determine how much value social media has for a company, but they are not a one size fits all tool. Measuring social media ROI can be very challenging but it is a very important part of the overall social media strategy for a company. Defining itself in the realm of the social media community, setting policies for employees, and implementing social media into everyday should be second to figuring out how much time a company can allocate for social media development.
Social Media Diagrams
Social media diagrams are also incredibly helpful tools for visually communicating the way in which the social media community functions. These diagrams can show that there is no one cookie cutter approach and companies should not just assume that they have to be on the three major social media sites alone. With the hundreds of niche sites out there, they need to consider the bigger picture and where to target their audience best. Once again, this stresses the importance of having a good strategy for social media development which should start with a social media ROI calculator.
Social Media ROI Diagram
Social media works in such a way that the presence of a company on one site can have exponential effects over the entire web, spreading the brand across many markets. I created a simple diagram to convey the way social sites can affect a business ROI. Thinking about social media development as a tree and taking into consideration the three major components:
1) THE TRUNK: This is the company brand. A tree grows and creates new rings every year. In the same way a company’s brand will grow and develop over time to have a larger online presence.
2) THE ROOTS: The roots feed the tree and provide the nutrients necessary for it to live and grow. This is social media development, which feeds the brand through the various social networks. As a company becomes part of the social media landscape, actively involved with their customers and driving and influencing opinions, the trunk grows.
3) THE BRANCHES: The branches are the monetary costs and benefits of social media development. The trunk is feed by the roots and in turn, the trunk feeds the branches, as the company’s brand greatly benefits from its engagement in the social media community.
Social Media Community for all Businesses
A company wants social media marketing to work for them and the best way to do that is to understand the places they need to be, understand the costs associated with it, and set forth a plan to institute it, while always keeping in mind that money can grow on their social media tree.
This entry was posted on Wednesday, April 7, 2010 and is filed under Social Media in Marketing.