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Thoughts on the book: “Social Media Metrics, how to to measure and optimize your marketing investment” by Jim Sterne

February 2, 2011

“Social Media Metrics, how to to measure and optimise your marketing investment” is a new book by Jim Sterne that I have been reading. As I hoped, it turned out to be a very interesting book. It is refreshingly honest. I am glad to read that he starts in Chapter 1, as I hoped he would, by identifying the business goals.

Three goals

He determines that there are three acceptable business goals when talking about using Social Media. 1. Increased Revenue, 2. Lowered Costs and 3. Improved Customer Satisfaction. “They all that matter in the long run. If the work you do does not result in an uptick in one or more of those Big Three Goals, then you are wasting your time and spinning your wheels”. To put this into a different perspective: measuring the success of Social Media has as much to do with finding the right data as it has to do with asking the right question.

 

A Social Media Strategy is like a living document.

A good friend of mine, Erik de Vreede from Creative Monkeys (link), told me not so long ago that Social Media Strategy and/or Social Media Campaigns are like “Living documents”. It should be adjusted and added too constantly, to make it grow and flourish.

You should be aware of this. Social Media Strategy is instantly adjustable, measurable and workable, and you should take advantage of this. To put it stronger words, Social Media is like ( a fluid, adjustable, can put things in, and take things out, hard shelled case) And this is especially difficult for junior marketeers when they have to convince their older, stuck in the 80’s, sales-results-are-all-that-count bosses. This particular problem is discussed in chapter 8 of the book.

Jim Sterne writes about reaching your audience, identifying influence, recognising sentiment, but more importantly; he knows that this is not all. The recipe to a successful Social Media strategy and/or campaign is also founded on triggering actions from your audience, hearing the conversations they are having and it is about driving your business outcomes. And with driving your business outcomes, he comes back to my point about “Living Documents”.

A 100 ways to measure Social Media

In the introduction Jim Sterne quotes David Berkowitz’s piece on a “100 ways to measure Social Media”.

One of the obvious flaws I found in the book was the mention that the PR Department is not and will not be able to cope with the changes brought upon us by Social Media. The self importance of Social Media Experts/Gurus will change fast when PR companies or departments are starting to invest in Social Media. And so placing themselves in a obvious gap. Of course it can be said that the expertise needed for a successful attempt in Social Media is lacking right now, but PR and/or communication specialists have a clear advantage over other departments or specialisms: they know how to communicate.

I understand that the very thought of this happening scares the living daylight out of Social Media professionals, but in my humble opinion it is the truth. Social Media will become as an important part of Corporate Communications, as Marketing, Consumer Services and Human Resources is an part of a business is right now. And when looking in the further future I can state that Social Media will become an integrate part of all the departments aforementioned.

I would love to hear your thoughts on the subject. Let me know.

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From → Book reviews

2 Comments
  1. Read the book too, a very interresting read.. Great summary and interpretaion of it… Btw great blog! Keep it up.

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