If I had a pound for every time I heard the sentence ‘Prove the ROI for social’. Social is a digital channel but measuring it is slightly different than measuring a Display or PPC campaign. The later 2 can be measured relatively easily. And then we can go on, and create a fancy attribution model for tens of thousands (if not hundreds) of pounds, to show us exactly how many pennies should we allocate to each channel. Then there is social, and yes it can be included in the attribution model and depending on the industry its weighing will be different.
However, how do you measure a dream?
Isn’t this what social is all about? Making people dream? About that picture, that video, that place, that product – then talk about it? Like it, share it, snap it, tweet it… I find most of my inspiration on Instagram. How will a brand ever measure this? They need to monitor proactively any social media mentions and then be able to tie those up to me coming in store. How are they going to do that? I do not use my name on Instagram, and I do not use my IG handle on my bank account. Except if a brand is not extremely savvy, and invested in some hardcore social monitoring software, feeding mentions back in store to some form of a database that can map the customers coming in to their social account – the answer is impossible.
Although I am a very revenue driven digital person, I think we need to give social a break. Let it do what it was created to do – inspire. I discover so many brands on social. I also judge the ones that look sloppy and not maintained. I am a believer that measurement for social should be in engagement, not dollar signs. Pushing commercial messages just annoys people. I have started to get really frustrated with brands I see on my Instagram feed with sales messages and product pictures. Those ads just do not belong there, wrong channel guys 🙂 I absolutely love the ads I cannot tell are ads.
So in conclusion, social is crucial. it can make or break a brand in less than a day. People look up to it, as it is more genuine than anything else out there. Yes, a lot of celebs and bloggers get paid to post. But there are thousands of feeds/profiles with 10s of thousands of followers which produce genuine content.
Until today, I have never been inside Fortnum and Mason. I have always thought it is a stuffy, old place full of tea. Today I went in because I saw so many beautiful images of it on different Instagram feeds of people I follow that I got inspired to check it out. I also bought some flowers, so here you go they just made £20 out of social without eve knowing it. If you are reading this, add it to your ROI 🙂
I just scrolled for 10 minutes through my feed on Instagram and here are the ads I have gathered.
The ‘Why are you even on my feed’:
So in the end, social media does not necessarily have a dollar value – it is priceless 😉