After a great deal of thought and preparation for my book, I have come to see news, its production and market value in an entirely different light relative to every other type of content. This in turn has caused me to question what value if any can be harvested from regurgitating and repackaging news related content which already exists in some other form and in some another “producers” channel? Q: If traditional news isn’t transactional online (read: doesn’t make money) for legitimate news publishers, how in the world could it ever be transactional for the legions of bloggers trying to copy and paste their way to an audience let alone an income? A: It can’t. If I recall correctly, the whole blogging concept was sold to the world by Silicon Valley – the ultimate beneficiary of blogging’s mass adoption. Come to think of it… the same sales pitch is being made right now with “social media”. Call me jaded. Am I to honor the code and keep selling and towing the same story line or should I instead call a spade a shovel? In either case and at this point, its not quite clear what’s in it for me. Q: What percentage of the tens of millions of blogs make any money? A: My guess – less than .01. What percentage produce a profit? A: My guess – less .01 of .01.
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Is Regurgitating News Through Blogs Worth The Effort?
Nope… and I like I have said before – I don’t expect to see anything other than hype suggesting Social Media can produce a return on investment for the foreseeable future. From another blogger this past week: Examples of a real-dollar Return on Investment (ROI) from social media marketing programs are rare. Unfortunately for most ecommerce teams, having hundreds of thousands of fans often doesn’t translate into revenue. For your CEO and CFO to take social media campaigns seriously, you need to be able to demonstrate a direct measurable impact that either reduces costs (say in reduced customer service heads) or increases sales. At the moment, most social campaigns are doing neither.
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Social Media ROI?
Below the line spending on Social Media Marketing continues to increase according to a recent CMO Survey from Duke University and the American Marketing Association. According to eMarketer: Marketers were already planning on upping spend in August 2009. They have continued to increase outlays since then, with respondents in February 2010 claiming they will devote nearly one-fifth of their marketing budgets to social media in the next five years. Social Media Marketing Budget Looking across sectors, business-to-business (B2B) spending is nearly in line with business-to-consumer (B2C), except in the lagging B2B products category. While B2C services were behind the game in August 2009, spending in that area has caught up and will remain in line with other outlays for the next several years. B2B product marketers will remain behind the curve over the next five years. B2B B2C Social Media Spending Notably, spending plans for every sector were higher in February 2010 than they had been just six months earlier. Growing B2B spending on social media lines up with the general goals of B2B marketers: customer relationship management and brand-building, which respondents claim will be the highest growth areas in the next year. Social marketing, with its strength in boosting brand engagement and loyalty, is an effective medium for both purposes. While many marketers plan to increase their below the line spending on social media marketing in the coming months and years, an inability to directly measure social media marketing’s performance and return on investment will ultimately keep many a marketers social media plans from reaching an above the line marketing expense.
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Below The Line Spending On Social Media Marketing To Increase
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Effective Real Estate Internet Marketing Ideas