Demystifying ROI for Social Media

Will big data really help you make better marketing decisions? Or was Einstein right when he said, “Not everything that counts can be counted, and not everything that can be counted counts”? When it comes to social media any successful, or unsuccessful, marketer can tell you the numbers don’t always add up when you hit a home run or when you strike out. The myth that the big numbers are all around you and just need to be collected to pull in huge revenues is just that—a myth. Sure, the information is out there, but it doesn’t mean you need to have it all to create a wise marketing strategy. There’s a better way to plan, and it means creating better objectives, not collecting more data. The secret to marketing with big data is to see the clear connection between your strategy and your data.

Einstein was right about so many things, including that counting quote. But if the reality show Swamp People (about alligator hunters in Louisiana) taught me anything, it’s that, “It’s hard to remember your objective was to drain the swamp when you’re up to your butt in alligators.” Data is your alligator. Too much data can distract you and drag you away from your objective. Don’t ignore data, but either focus on your objective, or change your objectives to fit the data you have. Learn to trust your gut and your instincts and you won’t get bit.

[The Guardian]

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