It’s Friday, so that means it’s time for This Week in Social Analytics and our favorite posts of the past week in the world of measurement, analytics, and social media. See a great piece we missed? Link to it in the comments!
Where to Put That Extra Dough in Your Marketing Budget [from Social Media Explorer; written by Jason Spooner]
5 questions to ask before you start spending money on new marketing initiatives
Social Media Marketing Budgets To Double In Next Five Years [Report from Daze Info; written by Shilpa Shree]
Social media spending as a percentage of marketing budgets will increase to more than twofold over the next five years, according to a Duke University Fuqua School of Business survey of US marketers commissioned by the American Marketing Association (AMA). This survey was conducted in February 2013 and included 468 U.S. chief marketing officers.
“In the end, social media can really stand on its own and provide insights and a lot of great learning and opportunity, but if you go well beyond just pure brand listening, the potentials are far greater.”
Insight from SXSW: Brands Should Want Advocates, Not Influencers [from Social Media Today; written by Christianna Giordano]
“An influencer is someone will write up a branded post, send out a few tweets and do their tasked outlined in their contract. An advocate, will not only do all those things, but will continuously use the product or brand in their daily lives, insert themselves into relevant conversations concerning the topic, and will fight for the products they love. Both of these types of blogger have their part in the blogosphere, but it is the latter that will make the biggest impact for brands.”
“The approach was not that there was just a social media department, but every piece of that business, right from the top to the creative teams to the live events staff to the writers to the superstars themselves, now have a stake in telling that story for the fans that really expect it on a 24/7 basis.”
“The truth is in this other revealing statistic: 21% of survey respondents think that measurement isn’t necessary, so lack of standards are just yet another silly excuse not to measure anything.”