By: Abdulhadi Hafez
Just goes to show you how important it is to have an active social media presences nowadays. Hence the word, “active”! It’s not enough to just create your profiles and allow them to collect dust (metaphorically of course), you need to keep posting unique and useful content consistently.
The experts say that roughly 40% of fortune 500 companies will not be present within the next 5-10 years, due to social media (or the lack of effective social media adoption or utilization) and that the ROI of social is that your business will exist in 5 years!
By: Abdulhadi Hafez
One of the terms that gets thrown around way too loosely and vaguely, is the concept of ‘Return on Investment’ (ROI), what is it exactly?
Simply, it is the yields that you receive in return for some sort of resource that you’re sacrificing, such as people (we’re not talking about the Chichen Itza style of human sacrificing), money, time, or anything that keeps you from sleeping at night. Here’s the equation to compute ROI:
But here’s the tricky question, how do you define gain from investment? What exactly is the gain? If you hire a marketing coordinator, then you know the cost of the investment, it’s his or her salary and related expenses. But how will you determine whether you’re generating a healthy ROI with this hire? Will the gain be attributed to leads, sales, profits, or some other sort of metric. You see how confusing it can get!
To make it even more confusing, let’s talk about social media? Does social media actually generate a ROI? That is the least of many questions circulating this topic. Some experts argue that the because of the importance of social media in today’s information, collaboration, and sharing age, the ROI of social media is that your business will exist in 5 years!
Some argue that there is a ROI, but it’s too early in the game to define exactly what gain you receive from your social media investment. Even if you were able to pinpoint exactly what sort of gain you receive out of the whole crazy world called social media. The truth is that marketers have yet to come out with a solid standard measurement of social media success, but they’re getting closer to doing so.
For instance, Wildfire conducted a ROI survey of over 700 marketers from all around the World to reveal what kind of impact social media is having on their businesses, and what are some of the top measurements they value the most. The results were compiled into an easy-to-digest infographic, found below. I know it;s too small to view, so just click on it so you can be taken to the larger version, enjoy!
By: Abdulhadi Hafez
You’ve heard this before I’m sure, that traditional media and advertising is on the decline after the advent of social media and online advertising. We’ve heard this from many experts such Larry Weber in his book, “Marketing to the Social Web”, where he cites studies that reveal that only 18% of people now trust advertisements.
To add to that, Nielsen came out with a study that suggests that 70% of people trust the opinions of complete strangers online, so imagine how much they trust the opinions of their fiends posted on social media sites!
These kinds of studies however are mostly conducted in the west (mostly US and UK), but now we finally have one that focuses on the MENA region, giving us a better insight on the media industry in the Middle East.
YouGov recently surveyed 30,000 adults in the MENA region to give us a better insight of the use of social media and digital media devices with the following findings:
- 1 in 5 now trust online sources more than traditional media
- 45% of respondents access digital media using mobile phones
- 47% use the Internet to surf for new TV shows
And don’t expect any of those numbers to go down, especially in light of the fact that the MENA is still the growth stage when it comes to online and social media adoption, and has not reached near-maturity stages like Western regions have.
As for Kuwait, the numbers are impressive when you take a look at the study conducted by the Dubai School of Government in their Arab Social Media Report, where it was revealed that Kuwait scored in the top 5 regions for the following categories:
- New Facebook Users In the Arab Region and Globally as % of Population
- Number of Active Twitter Users in the Arab Region
- Twitter penetration as a percentage of population
- Number of Tweets in the Arab Region