McKinsey Report - How poor metrics undermine digital marketing

Measuring ROI of online campaigns has become the most discussed challenge. Yet businesses are increasing their spending on marketing & advertising online. But without some way to monitor it & measure it how can one know the return & in turn make wise decisions for future campaigns?

This report is a discussion about measuring online & offline influences, but it has some excellent points as to why it's important to use a social media monitoring tool like SM2 & points to it's value!

"Even if measurement is relatively straightforward, marketers are apt to use a qualitative rather than quantitative approach. When we asked respondents how they gauge the effectiveness of their digital-brand-building efforts and direct-response advertising, their answers revealed a startling failure to measure."

Everyone agrees that social media monitoring is the first step before considering a strategy & then engaging in online marketing & advertising. Techrigy SM2 offers a robust tool that:

1. provides insight into your customer's conversations online about your brand.
2. provides an efficient way to monitor & engage with them
3. and most importantly it offers historical data & in-depth analysis options for the data

The McKinsey report underlines the importance of that with the following statement. Do you know what your customers are saying about your product/resources? Can you afford to ignore it?

"Most companies recognize that their customers’ purchasing decisions result from a number of contact points. A single purchase, whether online or in a store, might be influenced by any combination of, say, the comments of a friend, information on a Web site, a recommendation from Amazon.com, a store visit, or contact with a call center."