Wednesday, November 11, 2015

CMO’s: A Three Step Approach to Help Sell your Social Strategy to your CEO

As a CMO, the success of your group is directly related to the way the C-Suite views your work. Based on research I have done as a graduate student at Northwestern University, 80% of CEO’s admit that they do not really trust and are not very impressed by the work done by Marketers. I have found two articles I am prepared to share with you to help you and your CEO see eye to eye on social strategy.  

80% is such a high number, and as a marketer, I’m sure you may feel the pressure as your CEO or manager is demanding justification on why the company should invest in social media. According to an article published by Anne Murphy, Director of Marketing Content at Kapoost,  while traditional advertising is decreasing slowly, digital marketing budgets are actually expected to increase 14.7% according to one study. This reallocation of budgeting has raised the heat as 6 out of 10 CMO’s say the pressure from their CEO’s to prove the value of marketing has increased. Unfortunately, only 34% of CMO’s can prove the long-term impact of marketing spend.

Unlike traditional metrics of success—sales, cost reductions, etc., social media should be measured differently. In the article, “Can you Measure the ROI of your Social Media Marketing” written by Donna Hoffman and Marek Foder, social metrics are redefined as brand awareness, brand engagement and word-of-mouth, which are foundational elements to the traditional metrics your manager wants to see. Social media objectives are best paired with long-term goals, that is developing a healthy, engaging relationship with your consumers. In the end, you can leverage these networks to increase your ROI.   

After reviewing these two articles and from my work in the Northwestern Medill IMC graduate program, I have three action items you should consider.  They are:  

  • Eliminate Traditional Perspectives: Sales are important numbers, but first we must engage our audience—the consumers.
  • Understand Consumer Motivations: Understand why your consumers use social and leverage that as an opportunity to engage with them.
  • Create Objectives & Metrics: Once you understand why your customers are using social, define the correct objectives and metrics to measure success—awareness, engagement, word-of-mouth.

This three step approach will help you nurture the long-term relationships that every company wants to create with their customers and positively impact your ROI, a win-win situation for all stakeholders!

I like to describe myself as a vibrant marketer who enjoys staying abreast new marketing trends. With four years of experience in both corporate and nonprofit organizations, I understand the importance of balancing creativity with ROI. Currently, I contribute my time at a local marketing agency in Illinois and also attend Northwestern University for my Master’s in Integrated Marketing Communications.  I enjoy creating win-win opportunities, ROI recognition for any company and an amazing brand experience for the customer. Connect with me, Celeste Paylor on LinkedIn or Twitter.

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