Latest Articles
The new Xbox gaming console, which will be unveiled today, has produced 66,000 more online conversations than the Samsung Galaxy S4 and the Facebook phone operating system combined, in the month leading up to its launch, according to global social media monitoring software provider Synthesio. By Catriona Oldershaw.
more
In the end of April, Google’s settlement offer to the EU Competition Commission was revealed. Predictably, the offer was pretty half-hearted. But the UK online comparison industry, which will be heavily affected, has so far remained publicly silent. By Will Becker.
more
A decade ago, the music world was reeling from the effects of Napster, the file-sharing website which was shut down amid growing legal battles. Apple’s iTunes service provided a solid income stream for labels and a user-friendly experience for consumers. By Gregory Mead.
more
Related Articles
Dentists across the UK can now benefit from an interactive web resource and engage in social media with other dental professionals thanks to a new website. New Media Knowledge opened wide and delved deep. more
-
Measuring the impact of social media on an organisation’s brand has become a key consideration for marketers in recent years. New Media Knowledge spoke to one measurement specialist to get a steer on best practice. more
-
There is more and more buzz these days about real time Internet, but what is it? How is it used and mostly importantly does it actually matter? Joe Hughes of Yomego explains the latest trend. more
-
The Irish Times is one of Ireland’s quality broadsheets with an international presence. Like many broadsheets, the dual challenges of the recession and emerging digital platforms have led the paper to look for new revenue channels. New Media Knowledge took a closer look. more
-
A survey out this month found that most marketers plan to invest in social media and email marketing campaigns this year. Yet confusion over how to measure their effectives and even where to start are major hurdles to setting out. New Media Knowledge caught up with the report author to get some advice on how to proceed. more
-
More Money for Social Media
A new survey from Prospero Technologies shows that 88% of businesses expect to increase their social media spend in 2008. The companies who responded were set to either increase (58%) or significantly increase (30%) the amount of money they invested in these channels.
One concern frequently expressed with regard to blogs and social networking for businesses is measurement. It can be hard to arrive at a solid figure with regard to the cost of such activities - the time, effort and brain power required, as well as the creation of a site and its hosting. Even more difficult is measurement of the return these efforts produce.
While the vast majority of firms in the Prospero survey felt that social media was, or could, work for them, there was a significant variety of metrics employed for justifying and measuring this success:
Only three per cent of businesses used sales of products as a key metric and only 12% used increases in advertising revenue as the way in which they measured the effectiveness of their social media strategy. Forty-one per cent of companies admitted that the ROI of these tools was "unknown". Rusty Williams of Prospero confirmed that direct improvements to the bottom line isn’t a key driver: "The majority of respondents see engagement with their brand as the most important measure of social media success, while more concrete ROI measures such as sales and new business leads carry less weight."
The report also illustrates the extent to which the commercial world is still in a very experimental period with regard to social media. While blogs were the most popular tool, they’re only in use by 13% of respondents. Companies are using wiki’s, user reviews, RSS, video blogs, widgets and podcasts with no real consensus over the most effective forms, understandable since they don’t know how to measure the impact of these devices.
via. Liberate Media
StumbleUpon
Comments
You must be logged in to comment.