Social Media Marketing: Worth It In The Long Haul?

Hot on the heels of yesterday’s post about the ineffectiveness of location-based social marketing, a survey of 750 chief marketing officers shows that most CMOs say that their social efforts aren’t really worth it…yet.

The survey, from MarketingSherpa, shows that 62 percent of the CMOs surveyed say that “social marketing is a promising tactic that will eventually produce ROI,” compared to just 20 percent that say their social marketing efforts are already producing measurable return on investment.

But Cynthia Boris at Marketing Pilgrim thinks the survey is flawed.

“It would appear that the majority of CMO’s believe there’s a return on investment, but once again, I say it’s all in how you phrase it.” The survey gave CMOs four options to choose from: No ROI, no ROI yet, measurable ROI right now, and, essentially, “let’s not invest in it because its value is that it’s free.”

Boris says: “There really needs to be a fifth option: ‘Social marketing isn’t measurable, but since everyone is doing it we’ll look foolish if we don’t do it, too.’ That’s the truth for a large majority of companies, don’t you think?
“I do believe that in the future, we’ll have a better handle on social media marketing. We’ll have standardized tools and benchmarks and a better understanding of when, what and how we use it. But until then, let’s face it, the majority of social media marketers are just throwing spaghetti at the wall and hoping some will stick.”

All we can say is don’t show this article to your CFO.