Should Social Media Generate a Positive Return on Investment? March 29, 2012

Expert panel will discuss how to monetize social media
during the March 29th Sales and Marketing Executives International Minnesota meeting

It’s time to lay to rest any misgivings you may have about using social media to market your business. Not only have blogs, Facebook, Twitter, LinkedIn and other social media channels become legitimate promotional channels but savvy marketers have developed a number of ways to ensure that their social media efforts contribute to the bottom line. On March 29, a panel of three such experts will convene to give their insights on Monetizing Social Media. Participating will be M Squared Group Managing Partner and Founder Mark Price, Checkerboard Strategic Web Development President Jason Kocina, and Genoo Founder and President Kim Albee. The panel will be moderated by Minnesota Business Publisher Stafani Pennaz. Each panelist will present a short case study followed by a short discussion session.

“Measurement can be qualitative, such as traditional surveys, as well as quantitative in dollar impact of social media,” advises Price. “The key strategy is to move customers from social media into other channels, such as email or the retail environment, in a way that they can be identified as those social media customers. Then their behavior -- transactions, redemptions, web site visits and email open/clicks can be measured to provide the start of a financial impact analysis.”

Adds Kocina, “Once we build the infrastructure, we see social media ROI as a four-step process: Start with content streams, establish engagement channels, build your network and then monetize. Using valuable content to connect with those most likely to buy from you is the best place to start. So remember to always include a call to action! Be clear about what you want them to do once you get their attention.”

Albee agrees. “The value of having a social media presence builds over time. We’ve made a tremendous number contacts in the social world and turned them into customers. There are ways to drive traffic to your website with social media and to measure results. But it’s important to understand that it’s the whole system that delivers your ROI. It takes consistency and staying active. Too many companies make the dangerous mistake of quitting too soon.”

Panelists: Mark Price, Jason Kocina & Kim Albee

Mark Price
Managing Partner & Founder, M Squared Group

Mark Price to the managing partner and founder of M Squared Group, a consulting firm that specializes in customer analysis and relationship marketing. He is a frequent speaker at conferences as an expert on data-driven marketing and authors articles on the same topic. He is responsible for leading client engagements, e-commerce and database marketing, and talent acquisition at M Squared Group. Mark is also a RetailWire Brain Trust Panelist, a blogger at “Cultivating Your Customers” and a monthly contributor to the blog of the Minnesota Chapter of the American Marketing Association.

Jason Kocina
President, Checkerboard Strategic Web Development

Jason Kocina is president of Checkerboard Strategic Web Development. He has been teaching businesses how to turn their websites into profit centers since 1995. Using his extensive experience in design and development as well as marketing, Jason specializes in bridging technology and business by connecting clients’ needs with technological possibilities. He can quickly review any scenario and determine how best to help a client. Soft spoken, caring and responsible, Jason easily connects with everyone. He is especially great at explaining ideas and concepts to non-technical people.

Kim Albee
Founder & President, Genoo

Kim Albee is the founder and President of Genoo, a Software as a Service (SaaS) offering of Marketing Automation and Integrated Online Marketing Tools (http://www.genoo.com). Genoo was built for small and midsize business marketers struggling to keep up with the speed and functionality required to leverage the Internet effectively to drive growth for their companies. Kim has worked with organizations such as Minneapolis Star Tribune, Wells Fargo, Verisign Global Registry Services, and Yahoo! Based on what she’s learned through trial and error over the years, Kim has authored a quick-read booklet, “Effective Online Marketing In A Nutshell,” to help business marketers and owners easily get their arms around online marketing. Kim has spoken at Online Marketing Conferences nationally and internationally, such as Marketing Sherpa’s B2B Summit, the Online Marketing Summit, and the Social Media Summit.