If You’re Still Advertising on Billboards, It’s Time to Reevaluate

Posted by Doug Wilber on November 12, 2019

This article was originally published to Business 2 Community.

Anyone who has cruised along miles of interstate or inched through a crowded metropolitan traffic jam has likely felt acutely aware of the larger-than-life presence of billboards. But every time I see one, I feel like I’m looking at a vestige of a bygone era.

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Topics: advertising, billboard, brand, ROI, traditional media

Calculating Costs Part 2: Empower Your Employees on Social While Retaining Control of Your Brand

Posted by Will Moses on March 20, 2019

As a financial institution, consumer trust is your currency, but building that trust (and converting it to sales) involves more than creating and deploying a few TV and radio ads. Rather, it’s about starting a two-way dialogue with your customers — and as we discussed in part one of our “Calculating Costs” series, your employees are the perfect conduit for doing just that.

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Topics: ROI, social media ROI, strategy, team, social media measurement, Social Selling

Calculating Costs Part I: Make 2019 the Year for Social Media Marketing

Posted by Will Moses on March 12, 2019

Traditional advertising channels like TV, print, and radio are quickly going the way of the dinosaur, but advertising trends in banking seem to be lagging. Digital advertising spend eclipsed that of TV all the way back in 2017, yet many financial institutions still spend the bulk of their advertising budgets on channels that provide little opportunity for customization, measurement, and direct customer engagement.

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Topics: ROI, social media ROI, strategy, team, social media measurement, Social Selling

How to Win Social Media Like Navy Federal Credit Union

Posted by Mikki Ware on March 24, 2016

Credit unions have a unique position when it comes to social media. Unlike banks, which are opened to everyone, credit unions have a specific customer base. Members have to be affiliated with certain groups, such as an employer, community, or school. With the smaller, more targeted pool of members and potential members, social media can be viewed as a natural extension of strategic community engagement. The challenge is getting buy-in from credit union decision makers, as well as tracking ROI of social media participation. However, the tide seems to be turning, as research from CUNA Mutual shows that 60 percent of credit unions have been using social media for about 2 years.

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Topics: credit unions, facebook, FFIEC, financial services, gremln, ROI, social media, Social Media for Credit Unions, strategy

Social Media Analytics: What, How, and When You Should Be Measuring

Posted by Emily Lange Rodecker on August 13, 2015

Whether you are just getting started with your social media presence or you have an active and engaging fan base flourishing on various networks, paying close attention to your social media analytics can help you better understand your audience, increase your engagement, and make more informed decisions on your customer outreach and digital marketing efforts. 

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Topics: analysis, analytics, Business, data, return on investment, ROI, Social Media, social media analytics, social media data, social media results, social media ROI, social ROI

Make 2013 A Success! Get Your Social Media In Shape

Posted by Emily Lange Rodecker on January 29, 2013

We’re one month deep into 2013, and you’ve been hitting the gym like a champ. You’re reading more, watching less TV, eating healthy, quelling your vices, and basically knocking all your personal resolutions out of the park. Will power 1, couch potato 0. Way to go, you.

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Topics: 101, Business, business, gremln, Marketing, ROI, social media, Social Media for Small Business, strategy, twitter business tools

4 Ways to Measure Social Media ROI with Gremln

Posted by Clayton Smith on December 14, 2012

Now that 2012 is just about over, I can officially state, with all appropriate certainty, that the social media question I heard the most often this year was, “How do I determine social media ROI?” The main reason returns on social strategies are so important, of course, is that success (or the lack thereof) almost always determines budgets, and every now and then it even determines jobs. Which makes this a very important question indeed.

Some people will tell you that you can’t calculate social media ROI, but I respectfully disagree. Measuring social media ROI isn’t impossible…it just isn’t straightforward.

When you calculate return on a traditional financial investment, there’s a simple, straightforward calculation that allows you to quickly determine your return: ROI = (Gain from Investment – Cost of Investment) / Cost of Investment. The reason this formula is so straightforward is that all the variables are distinct. You know how much money you’ve invested, and you know how much money you’ve gained from that investment. Simple.

The reason social media returns aren’t quite so simple to calculate is because the variables aren’t as clear cut. What, exactly, have you invested? Employee salary? Graphic design costs? Social media software costs? Facebook ad expenditures? Product giveaways? Where do you draw the line between social media resources and everyday business expenses?

And how about that return? Ideally, of course, you’ll see an increase in revenue as a direct result of your social strategies, but that’s not the only type of positive return you can get. What about engagement? Social media is all about building communities of people who, when the time is right, will rally around your product or service…so high levels of engagement are important, aren’t they? And how about brand strength? If you can manage to move your Facebook likers from fans to brand loyalists, what’s the dollar value there? Certainly that’s a positive return. The same goes for customer service. If you use your social media as a customer service tool (and you should), isn’t customer satisfaction a positive return on that investment?

The problem isn’t that social ROI is impossible to calculate; the problem is that there are just too many ways to calculate it. In order to get an accurate return measurement, you’ll need to settle on the type of return you want to measure. Here are four suggestions on getting started, with a little help from Gremln:

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Topics: 101, brand, Business, business, campaign, dashboard, education, facebook, google+, google plus, gremlin, gremln, linkedin, Marketing, media, ROI, small business, social, social media, strategy, twitter

Social B2B Tips for the 3 Big Networks

Posted by Clayton Smith on December 10, 2012

If you’re in the business-to-business sector, then you’ve probably already picked upon this…but B2B social media marketing is hard.

I mean, it’s really hard. Much harder than social B2C. You know why? Because businesses may have social media accounts, but businesses aren’t the ones using those accounts. It’s people who use them, employees like you or me or the guy next door who sit down to manage the Facebook, Twitter, and LinkedIn accounts for their companies. And when they sit down to manage those accounts, they typically have one directive; “Send our content out.”

Businesses exist on social networks in order to spark engagement based on their own, in-house content. Generally speaking, they don’t exist to gather other businesses’ content in, unless that other content directly involves the company (in an @mention, for example, or in a post on the company’s Facebook page).

What this basically amounts to is the fact that when you engage in B2B marketing on social media, you’re really sending out content that you hope will be seen and registered by a marketing employee who’s not looking for it.

Like I said. B2B is hard.

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Topics: B2B, B2C, Business, dashboard, education, facebook, gremlin, gremln, linkedin, Marketing, media, ROI, social, strategy, twitter

Social Media MERIT: 5 ways to justify social to the CEO

Posted by Clayton Smith on November 16, 2012

Although social networks are free to join and use, there’s a real cost involved in social media marketing and communications. Network training, graphic design, employee payroll, analytic tools, content creation, and product giveaways are just some of the typical expenses that often come with the territory. Because of these “secondary expenses,” many managers, directors, CEOs, and board members require social media expenditure justification.

How, exactly, do you justify the expense of social media? Simple. Just show them that social media marketing has M.E.R.I.T.

1. Measurable

Social media marketing results are measurable, much more so than the results of more traditional advertising methods, like print and broadcast. Let's take a look at how social media marketing results stack up against the old-timers.

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Topics: 101, analytics, Business, business, campaign, crm, dashboard, economic, education, facebook, google+, gremlin, gremln, interactive, measurable, merit, network, relevant, ROI, social, social media, strategy, timely, twitter

Ditching the Pre-Social Mentality in a Social Marketing World

Posted by Clayton Smith on November 8, 2012

Last week, RAM Racing sponsored the Hot Chocolate 15K/5K race in Chicago. The race was held on Sunday, and the runners were to pick up their race packets on the preceding Friday and Saturday. The race on Sunday came off smoothly; packet pick-up, on the other hand, was something of a disaster.

Due to poor overall organization and a few technological hiccups, the packet pick-up process, which might normally have taken 15 or 20 minutes, took some people over three hours. Three hours of standing in line, out-of-doors, in the famously brisk Chicago wind.

This wait, born of organizational missteps, would not normally be worth mentioning here on the Gremln blog—companies find themselves handling dropped balls all the time. But the irritated runners who were made to wait outside for hours took to Twitter and Facebook to express their anger toward the organizers of the Hot Chocolate race, and RAM’s response, or lack thereof, warrants an examination.

Many runners were quite vocal in their social media anger.

 

 

 

 

 

 

 

 

 

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Topics: 101, analytics, brand, Business, business, crm, dashboard, education, facebook, google+, google plus, gremlin, gremln, linkedin, Marketing, media, network, ROI, small business, social, social media, strategy, tips, twitter

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