In recent posts we have shown you what Eyetrack Surveys show on FaceBook, YouTube, and Twitter, talked about emerging prospect areas for advertising growth, and today we address where social media is heading as MediaCharts reports "Social Media Hits Mainstream, Tried & True Still Works Best". The article discusses new media exclusively and doesn't touch on how we measure ROI with Broadcast and draws some interesting conclusions based on statistics....
"The 66% who used social media this year represents a a increase over 2007 survey results, which revealed that only 20% of marketers were using social media and 25% were employing viral videos two years ago.
Among marketers using social networking, the top sites being used:
- Facebook (74%)
- YouTube (65%)
- Twitter (63%)
- LinkedIn (60%) "
The article goes on to say that ROI measurement will be a key indicator of success going forward...
"Despite the growing use of social networks and viral videos, marketers do not think they are using these media in the most effective ways and are still struggling with measurement and media-mix allocation issues. The top concerns for marketers when considering newer media platforms are the inability to prove ROI (45%) and worries about not having metrics to properly allocate the mix of traditional and digital media (43%).
On the other hand, the most effective of the newer media platforms are those which marketers have been doing for longer periods of time and those for which more measurable results are available:
- Search engine marketing (SEM) (65%)
- Own website (59%)
- Search engine optimization (SEO) (55%)
- E-mail marketing (45%) "
Luce Performance Group is in the midst of Beta Testing a formula for the Return On Interactive Investment similar to what we us for Broadcast in our ROI Equation For Success. With a new set of variables and standards still in development, our formula breaks some new ground and provides concrete return figures for New Media. We'll keep you informed of the final release soon.