Marketers don't think they're very good at measuring social media.
When my colleague Emily Riley asked marketers to
rate their ability to measure the impact of their social media
initiatives, the average grade they gave themselves was 4.5 out of 10.
Not a great score -- especially given that accountability is one of the
key selling points of interactive marketing. So I've spent a lot of
time this year trying to understand why marketers aren't good at
measuring social media -- and how they can do better.
I am thrilled to welcome Augie Ray to Forrester! Augie is coming aboard as a Senior Analyst supporting interactive marketers and focusing on Social Computing. He's starting on November 15 and will be based in Forrester's Foster City offices (Augie is relocating from Milwaukee and eagerly anticipating the warmer weather!).
I've been the hiring manager for nearly a dozen positions at Forrester, and I've come to recognize a particular feeling when I'm talking to a special applicant. Sure, there are lots of people with strong CVs and interviewing skills. But a great candidate brings ideas to life, and the interview becomes a fun gallop through the world of marketing themes, customer behavior, and the craft of writing. My first conversation with Augie was exactly that.
Last week, the Customer Strategy Group is
held its inaugural summit on customer engagement – an intimate,
executive conference designed for B2B marketers who manage customer
reference programs, advisory boards, and the emerging area of online
communities. I spoke to about 75 marketers and sponsors about “Understanding the Value of Customer Engagement”.
Let's be a bit provocative after this week's announcement from Apple letting us know that they had sold 7,4M iPhones during the last quarter (+7% yoy). Apple's stock valuation was even higher than that of Google (as of October 20, 2009): $179 bn vs $173 bn. I am not a financial analyst so I won't comment the results from a profitability perspective, but would just like to throw out a couple of ideas to discuss whether this trend will last in 2010. Let's add a pinch of salt without taking into account the fact that Apple could (and certainly will) surprise us with new products.
Beyond the terrific iPhone user-experience, the power of Apple's marketing and the AppStore's ecosystem, part of the success is due to Apple's new business model introduced in July 08. When launching the 3GS, they also announced lots of international (and non-exclusive) deals with operators worldwide and finally accepted to let operators subsidize the device. No doubt there is a huge consumer demand for the iPhone but operators will have to solve a complex equation. It is a little dirty industry secret that many carriers are analyzing the profitability of the iPhone model:
My colleague Emily Riley** has written about attribution modeling -- the "new" approach to online measurement which tracks more than just the last ad clicked. Emily's approach of "block and tackle attribution" gives marketers a framework for how to track value across both mainstay and social interactive tools.
I'm just back from Dallas where I was part of the iProspect/Range Online client summit -- a one day event of mostly client stories (from a high profile list of marketers) about their successes and woes this year. Overall, I found the event provided a great pulse on present interactive marketer challenges. But it was less rife with answers or solutions to these challenges. Maybe that was by design as the
Many innovative start-ups have pioneered mobile social networking in the last few years: BuzzCity, Peperoni, Fring, Nimbuzz, eBuddy, Zyb, Plazes, Loopt, Foursquare and many others demonstrated the potential of the market.
In the last few months, a bunch of announcements clearly showed that the convergence between mobile and social computing is gaining traction and attracting the largest stakeholders: