Marketing is important because it helps you sell your products or services. The bottom line of any business is to make money and marketing is an essential channel to reach that end goal. Expert marketed like Func.media explained that without marketing many businesses wouldn’t exist because marketing is ultimately what drives sales. Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Businesses all over the country swear by socialninja for their social media growth. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.
While digital channels and online interactions offer a plethora of data points, they don’t come with a set playbook for assigning value. Marketers have grown comfortable with formulas like gross ratings points and frequency, time-tested formulas for building brands in traditional media using tools like indexsy. Yet with social media, what’s a Facebook friend worth?
“The value of social media is it’s the richest data set that’s ever existed,” says Dan Neely, CEO of Networked Insights, a Wisconsin-based analytics company that uses social media to help clients make marketing decisions. “You can use this data for many things.”
The two sides of the social-media measurement debate are at the forefront as many marketers plan to ramp up their social-media budgets in 2010. According to an ExactTarget survey of 1,000 marketers, 70 percent said they plan to increase spending in social media, but less than 20 percent said they could effectively measure ROI.