How companies are funding social media ‘marketing’, programs and activity – an afterthought

Amongst all the hype about social media, and the hypothesis that it is the new norm &c &c (which in commercial travel it most certainly isn’t), a few brave souls try to actually recommend how to measure ‘success’ – here is an example

http://www.socialmediaexaminer.com/6-ways-to-measure-your-social-media-results/

The one thing this article (and most others of similar ilk) ignores is the cost of social media. You can’t measure the ‘result’ without measuring the cost. Perhaps worth an article ‘how to measure the COST of your social media activity?

I was alarmed to read that recent Centre for Media Research survey which concluded that 34% of companies fund their social media activity from their search budgets, and only 38% actually have a separate, identifiable social media budget. If social media is at the expense of e.g. paid search, then no true assessment is complete without taking into account the opportunity lost on paid search as a cost of the social media activity in any finite budget situation.

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