Where does social best fit in terms of branding, acquisition, or relationship management?
It can play a role in all three. The difference is that for relationship management, there’s very little that compares with social media’s depth of engagement and the power to turn consumers into advocates. For branding and acquisition, social media can play a crucial role, but there are also other effective ways to achieve results. 4. What’s the best way for an organization to determine how much they invest in social media? Benchmark your own success. Keep an eye on competitors. Align spending with your goals. Since social marketing tends to be about broader programs rather than short-term campaigns, consider customer lifetime value. Also consider the cost of not having ongoing social media initiatives. As Charlene Li noted in her book “Open Leadership,” “Another way to frame the issue is: What is the return on investment on your fire insurance policy? You wouldn’t even contemplate going without it!” 5. How big should an organization’s social media team be? What should they outsource?
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