The marketing potential of social media has been hyped considerably in recent years and the internet is awash with articles encouraging us to get our businesses on social media. But does it work? Does being liked or getting a follower have any real value? Fortunately the IPA are doing some really interesting work in this area.
It’s well worth checking out their case studies. We particularly like the Lysol study which looked at the impact of social media across the key customer route of know, feel, compare, buy, use, bond and recommend.
They found that earned activity, which is likes, follows, comments etc, had a positive impact on the early stage of the customer journey, particularly the ‘know’ stage. The interesting use of nested models allowed them to track the impact of ‘know’ on ‘feel’, ‘feel’ on ‘compare’, ‘compare’ on ‘buy’ and so on.
They also looked at paid activity, such as Facebook Ads, which had an impact later in the customer route at ‘compare’.
What’s great is that there are some real techniques emerging to quantify social media impact, as we can all recognise that a ‘like’ is just the start, not the end of your social media marketing.