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ROI

23 Reasons to Skip Social Media

by Randall Craig on November 20, 2015

Filed in: Blog, Make It Happen Tipsheet, Social Media, Strategy

Tagged as: ,

There are many reasons why an investment in Social Media makes sense, but precious little about why it may not.  After advising on digital strategy and online engagement for over 23 years, here are 23 reasons why you should give it a skip:

  1. When your target audience isn’t online.
  2. When it is not “core” to your organization’s success.
  3. Because Social Media doesn’t close the sale: real people do.
  4. Because you suspect that the value of likes, comments, and shares are over-valued.
  5. Because Social Media is not producing the results you expect.
  6. When there is no accountability for performance.
  7. When it becomes a significant chore.
  8. When it cannot be properly resourced.
  9. When personal Social Media time masquerades as business Social Media time.
  10. When it is preventing the organization from resourcing other critical activities.
  11. When you actually have nothing to say.
  12. When the activity skates on the edge of the ethical.
  13. When doing the activity is no longer legally compliant. (e.g. CASL)
  14. When there is no commitment to community management.
  15. When you cannot (or choose not to) invest in the technologies that will activate your Social Media investment. (eg Marketing Automation)
  16. When you cannot keep up with the latest best practices.
  17. When you think it is cost-free.  (Time does have value!)
  18. When there is inadequate time to monitor the impact of your efforts.
  19. When you tried it before and it didn’t work.
  20. When you don’t have a risk-management policy.
  21. When you choose not to leverage your stakeholders to spread your message.
  22. When you don’t invest in staff training.
  23. When you choose to execute… without a strategy.

This week’s action plan:  While these are great reasons to skip Social Media, the list also serves as great criteria for how to do it well.  This week, use this as a checklist: what is your organization doing, and what is it missing?  

Note: The Make It Happen Tipsheet is also available by email. Go to www.RandallCraig.com to register.

Randall Craig

@RandallCraig (follow me)
www.RandallCraig.com

www.108ideaspace
.com
www.ProfessionallySpeakingTV.com

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Do you have a creeping feeling that you will never get an adequate return on your Social Media investment?  If so, you’re probably right. To improve Social ROI requires three key ingredients: the first reduces costs, and the second and third improve return.

  1. Improve program efficiency: Swap out experimentation and opportunism with goals, persona-based editorial calendars, monitoring, measurement, and time accountability. Strategy and structure help reduce the size of the investment.
  2.  Marketing automation: This is the family of initiatives that convert an unidentified community member into an identified prospect.   Example Marketing Automation initiatives:

    The critical requirement for Marketing Automation is that each interaction adds value in the eyes of the prospect. The goal is not about selling, it is about building trust.

  3. CRM (Customer Relationship Management): Once trust is built, the prospect will either self-identify a need (“Can you help us with…”) or will be asked about a need (“Had you considered…”). CRM tracks a specific opportunity through each sales stage, until they ultimately transact.  Even not-for-profits and associations have sales stages: one track for prospective members, and another for prospective sponsors.

Unfortunately, many organizations mistake the installation of technology with the thinking that is required to get Marketing Automation and CRM actually working by themselves. Or the thinking that is required to wire Social Media, Marketing Automation, and CRM together.

This week’s action plan: Lower costs and higher returns equals improved Social ROI.  This week, explore the connection beyond SM: what is your first step beyond the development of community? And is there something missing from your strategy?

Marketing Insight: One of the most powerful marketing tools is knowledge. Connecting the data behind the web, Social Media, Marketing Automation and CRM provides a 360 degree view of a particular prospect as their relationship grows. And looking at the data across all prospects provides critical insights that can be used to improve the overall marketing process.

Note: The Make It Happen Tipsheet is also available by email. Go to www.RandallCraig.com to register.

Randall Craig

@RandallCraig (follow me)
www.RandallCraig.com
:  Professional credentials site
www.108ideaspace
.com: Web strategy, technology, and development
www.ProfessionallySpeakingTV.com
:  Interviews with the nation’s thought-leaders

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Real World or Digital

by Randall Craig June 27, 2014

Despite the near ubiquity of Social Media, you can’t say hello to your Starbucks barista there.  You can’t see your team’s body language during a meeting.  You can’t celebrate with friends and family in real-time.  Everything seems to be in 2D – at best a reflection of what is happening in the real world. Interestingly, […]

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Testing the Social Conversation

by Randall Craig December 27, 2013

Have you ever put your social influence to the test?  Or said another way, do others find you half as interesting as you do yourself?  If you’re not sure, here are seven ideas that might spur some different thinking. 17 Ways to Great Social Engagement: Not sure why your blog and other social media efforts […]

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Generating ROI: The other 95%

by Randall Craig May 31, 2013

How do you determine the ROI on your marketing and sales investments? The standard formula is simple: divide the return, less investment, by the investment. A marketing campaign costs $1000, and reaches out to 1000 prospects. Five per cent of these respond, generating $1000 profit, for an ROI of zero: (1000-1000)/1000.  If the profit is […]

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Social Over-Indulgence

by Randall Craig May 24, 2013

Social Media is here.  It’s everywhere.  In fact, the absence of it sends a signal that the sponsoring organization is completely disconnected, un-hip, and behind the times. Unfortunately, this zeal to include Social Media is often taken to the extreme.  There are numerous cases where “doing” Social Media makes no sense at all.  Three examples: […]

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Low Social Productivity?

by Randall Craig February 22, 2013

Are you one of “those” people who have thoroughly adopted Social Media, but have a nagging feeling that you just aren’t that productive with it?  Or are you tapped out, and have no interest in adding extra time to your day with low-value Social Media activities?  In either case, you’re not alone. Here are the […]

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Eight Great Social Media Reads

by Randall Craig December 21, 2012

Out of all of the thinking, blogging, tweeting, posting, and speaking on the subject, here are some of the most practical – and thought-provoking articles on the topic. 1) When users defect:  Understanding why users leave, and what to do about it. 2) Six Steps to Strategic Blogging:  How to build an effective, focused, and […]

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Social Capability

by Randall Craig October 11, 2012

With so much focus on Social ROI and social performance, an important issue is often forgotten: social capability. This concept refers to an organization’s ability to take advantage of the promise of social media. Too often, the limiting factor for social performance is not what is being done, but rather what cannot be done. Removing […]

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LinkedInvestment: Eight ways to improve your Social ROI

by Randall Craig April 19, 2012

If you spend 10 minutes on LinkedIn each business day for the last two years, you’ve made an investment of 86 hours… or two weeks of vacation. Up that to 15 minutes, and you’ve gobbled three weeks over the year.  How satisfied are you with the return on your time investment?  If you’re like most, […]

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Social Media Measurement

by Randall Craig April 12, 2012

How do you know if you are successful at Social Media?  While the answer a few years ago may have been it’s so experimental, we’ll have to see, the answer from some today is similarly dissatisfying:  Social Media ROI is comparable to computing the ROI of a telephone. We can do better than this – […]

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Social Media Stop Sign

by Randall Craig September 13, 2011

How long ago did you (or your organization) start your Social Media “work”?  Likely, a few years ago.  First came LinkedIn: you filled out your profile, asked for (and responded to) connection requests.  Then you asked for (and responded to) recommendation requests, asked (and responded to) questions, and joined a number of groups.  Then you […]

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Viewpoint: 47 Tough Social Media Questions

by Randall Craig March 22, 2011

How does your organization decide to invest in Social Media? With all of the fluff being written on the topic, it isn’t surprising that finding a list to help executives make better decisions is tough.  Based on our experience advising clients, here is my contribution, with questions in no particular order: 1.      What are the […]

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Special Social Secret Sauce – Improving Social Media ROI

by Randall Craig March 9, 2011

Despite the frenzy everywhere else, many senior executives look at their corporate Social Media initiatives, and wonder why there isn’t a better return on their investment.  Many marketers, despite implementing clever campaigns, secretly worry about the same thing. Here’s the question:  is there some special social secret sauce that can dramatically improve results every time?  […]

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Social Media ROI

by Randall Craig December 15, 2010

Do you have a nagging concern that all of the time you spend on Social Media is not giving you a good return on your time investment? If so, you’re probably right, and you’re not alone. Too many people (and businesses) waste time doing activities that yield very little, often for the sole reason that […]

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Online PR and Social Media for Experts, Authors, Consultants, and Speakers

by Randall Craig January 7, 2009

After a grueling amount of research, writing, and editing, Online PR and Social Media for Experts, Authors, Consultants, and Speakers is now available. Check it out at www.OnlinePRSocialMedia.com. The book itself is 130 pages, and while it is aimed at “experts”, it is completely appropriate for those with expertise working within an organization, whether they […]

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