Okay, maybe I'm overstating it. Some sales are driven through social media channels. I know I've bought books and songs and contributed to Kickstarter campaigns many times because a friend shared a link and I thought, "Hey! That's awesome! I should buy that!" I've even tipped a bigger purchase in favor of a friendly recommendation on a social network. But I can count on one hand the number of times I've bought something pushed to me by a brand I follow on Twitter/Facebook or the like.
But that's not the point.
The point is that social media is a teeny tiny reflection of what happens in day-to-day life. In Jonah Berger's Contagious, he makes the salient point that only 7% of word of mouth happens online (other studies say 5%). I'm not sure if all of that even belongs to social media channels, either. I'd guess a bunch of it happens over email and private chat.
There are hundreds of ways that your customer will find you (or not find you) online and offline. However, when it comes to spreading a message, word of mouth has always been the most effective way of marketing messages spreading. But these messages become ineffective when they aren't authentic. But the most salient point here is:
You cannot force word of mouth.
It doesn't matter the media or the amount you spend on it...some stuff just doesn't spread. And though marketing impressions make a brand awareness difference - whether it's a billboard or a paid tweet - it's never guaranteed to work.
So I'm continually bowled over when I hear people complain about how their social media marketing doesn't work. Usually a few questions helps me realize what's really going on:
What's really going on here is that companies think that paying for marketing is some sort of silver bullet. It's not. It never was and it never will be. Hell, some super bowl ads go unnoticed - and that audience is one of the biggest captive audiences in the universe!
You are probably asking yourself, "Okay then, why would anybody in their right mind pay for marketing?"
Good question. I sometimes wonder myself because not everyone is ready for it...and sometimes they are too late for it.
But why pay for marketing when the results aren't guaranteed? Because, like I said before, there are hundreds of ways your future customers will find you (or not find you) and it's better to be findable than not. And good marketing means that you will be more findable AND have more credibility (if the branding is done right) when people do find you. And all of that helps with what you want: sales.
There are all sorts of wonderful things built into social media marketing that you won't have built into traditional one-way channels. There are:
- analytics - you can't really tell who paid attention to that television ad, but you can tell who watched your YouTube ad all the way through...and who liked it...and who shared it...etc etc. The data available on how people interact with your content is AMAZING.
- feedback - it's right there in the comments. It's also there on Twitter. Oh...and you can find out what people are saying on Reddit and their blogs and in forums and...well...that is invaluable. Read it. Report it back to your team. Improve your product with it. Respond to it with thanks. Hell, you pay hundreds of thousands of dollars to get this feedback from focus groups each year and here it is for you for free. Completely raw.
- relationships - you aren't going to strike up a conversation through the TV or radio. But that two-way conversation is built into social media platforms. It's really awesome. You can find out so much about your customers and start to really build a bond.
What really baffles me is the demands that brands make of social media marketing when they pay a fraction of the price to use it. They'll hire interns and junior staff to run it, they'll lowball agencies and consultants ("I pay you whatfor a couple of FB posts?! I can get my kid to do that!"), they get impatient and want instant results without being willing to invest the thought needed or take risks, they'll tack on a social media strategy (which has no strategy) to a made-for-television and magazine ad campaign thinking that it's yet another direct marketing channel (which is a limited medium, too).
All of this and the brands ask for stellar results. They look past the amazing insights and feedback and potential for relationships that no other traditional marketing medium every had and they say, "Meh. Social media doesn't work for me."
And completely miss the point.
You want to know the ROI of social media?
Number one. It's the ability to listen. It's priceless. Not with some damned tool that measures sentiment or finds influencers, either. Really listen.
Number two. Serendipity. It's opening yourself up to constant and amazing opportunities to participate and by participating, you will find numerous opportunities to lead the conversation and make a great impression. Oreo's dunk in the dark tweet is a great example of this. They are doing a really great job of being a relevant brand again by seizing opportunities like that. Do they do it every single day? Nope. But when they do, they nail it.
Number three. Community instead of merely customers. The difference is incredible. If you have patience and build a community instead of just a customer database, you will have finally tapped into that magical word of mouth network you wanted to buy a few months ago. But this time, it's real and authentic and it spreads.
(and there are dozens more...but you get the point, right?)
So PLEASE FOR THE LOVE OF DOG stop thinking of social media as a direct marketing tool or some sort of silver bullet that will drive sales through the roof. Stop reading those case studies where Facebook...no...Pinterest...no...Polyvore...no Snapchat drove millions of dollars in sales from a viral campaign.
That's not the point.