The Crowdbabble Manifesto
Since I’ve been involved in social media from a number of angles over the years, I’ve realized that one of the major frustrations in the industry is the inability to measure and analyze social media.
It’s frustrating for CxOs and business owners. It’s frustrating for marketers, brand managers, product managers and everyone else involved with social media from a business perspective.
So what’s the solution?
Social Media vs Traditional Digital Marketing
In a business world where our marketing activities have been predominantly funnel based, social media flips everything we knew upside down.
In traditional digital marketing, our objectives were to drive users away from the advertising or marketing channel (AdWords, directories, banner ads, email newsletters) and bring them to our property (website). Our goals were to obtain a direct response from customers.
Marketers who have tried to leverage social media in the same way (i.e. bring the user to my website and get them to buy/convert) have failed miserably on social media. Social media can get you direct responses, but if this is the only reason you’re using it, then your strategy will likely be sub-optimal.
Social media is less about driving traffic to your property. Social media is about engaging with people, building relationships and understanding human behaviour.
The first step is realizing this fundamental difference between social media and everything else that has come before it.
Investing in Social Media
While it’s great to engage and build relationships with customers, at the end of the day the CEO, CMO, CxO needs to understand the return on investment (ROI). How much did social media activities increase sales, reduce expenses, improve brand sentiments, etc.
If you cannot prove the business value of social media to the executive and management teams, you will not be able to get investments to continue your social media program.
After all, social media is not free. Resources and time do carry fixed costs.
How Do We Measure and Analyze Social Media?
Amidst all this confusion, an ongoing discussion exists in the industry. How should we measure and analyze social media?
This is where Crowdbabble comes in.
We’re on a mission to make it simple and easy to analyze and measure Social Media. We realize that social media continues to evolve and as a result the way we measure must also evolve alongside it.
Crowdbabble was conceptualized on a Saturday afternoon on October 6, 2012 in order to help solve the problems mentioned above. We’re dedicated to studying, learning, evolving and helping the social media industry evolve.
You are critical in this movement and we would love to have a conversation or hear your feedback. Together, we can move the needle in terms of how the industry analyzes and measures social media. This is our responsibility. There’s a long way to go.
Our mantra is that Social Media Analytics should be simple, easy and fun!