Across the board, social marketers and CMOs alike view social media as the marketing channel with the greatest ability to drive both of the major directives of any marketing team:
1. To be the steward of the BRAND
2. To allocate budget according to fan DEMAND
To be a steward of the brand: Creating brand awareness and protecting brand’s reputation – • To drive demand: Generating revenue opportunities and retention of current customers
• In order for social media to successfully fuel these two components, marketers need to understand how to measure success in each.
• On the revenue side, this means understanding conversions, attributing value to each post and link. This isn’t easy, but there’s an end-point. You’re connecting the dots between activity and purchase. On the brand side, it’s more nuanced than that, because there isn’t an end point. Over 2 billion people are active on social media, and not all of them know your brand.