Social Media during a Recession will do well, esp if you have Metrics for it

In SocialMediaToday I noticed a post on B2B Marketing Budgets 2008 – How Will Online and Social Media Fare?

Most of the spend in social media hasn’t been adjusted downward even though the economy is going downhill fast.

In addition – you need metrics – and I don’t know too many places that have Buzz Logic or Buzz Metrics:

1. Focus on Social Applications – At a minimum, get involved in communities and social networks where your customers are already engaged. If your budget allows, include outreach to key influencers and optimizing your content and social applications for syndication.
2. Focus on a few things and do them well – the desire to experiment in social marketing sometimes leads to the temptation to just throw together some initiatives and see what sticks. Marketers would do better to focus on a few strategic initiatives that will drive their objectives and make them successful.
3. Invest in Social Metrics – all of your social initiatives should have clear measurement and payoff. Many of the social influence tools can also be used to help marketers identify influencers and buzz which can in turn help you to optimize your social marketing. At Crimson we have been using BuzzLogic and Buzz Metrics with our clients with great success. Having said that, most of these tools are still fairly new and the reporting is of most value when overlayed with more traditional web metrics. Picking the right tool will depend on your objectives – and as with any online marketing metrics tool – analysis, insight and refinement are key.

Advertisements