I have to say that time and time again we hear the virtues of Social Media and how much it creates new business and this wonderful new economy. The fact is that most Social Media interaction is the equivalent of being a title sponsor at a concert or sporting event. You can't really quantify what it has done to drive revenue.
Sorry, the fact of the matter is that without good data you not getting results, and please do not equiate your "Like" button to success of a campaign. If thats your goal you should be fired from your job as a marketing executive.
Fact is that we are and must be measured on how many leads did we bring into the Sales Channel, that's it. If you can not clearly answer that question then you have wasted a good deal of money and time.
Your CEO does see the need to market but you know that the CFO is on the other side looking at the numbers. Today the CMO must play both roles and present a clear case for the cost of customer acquisition. If this cost can not be justified or result in a sale conversion then we have not succeeded in our marketing efforts.
The term "Big DATA" is in play and gaining traction everyday. This term simply means "More Money" and at some this will stop. If the point is to collect data then go work for Google but the fact remains that we are the showmen, the points of contact before the sales magic happens.
What makes our data so hard to put into practice is that our tagets are constantly moving. As CMO's we have to make sure that the infrastructure can handle these targets and navigate toward bring the fish toward the boat.
Its not hard but it can be tedious in the beginning. I know that everyone today is a social media expert which simply means that they spend to much time on Facebook. Data should and always be the point of concentration. Its not the medium that give will drive results but the data on where your customers will be.
Have a wonderful Christmas and a Happy New Year and to all of our current and future clients, Thank You.
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