89% of social media marketers are bad at analytics

During the Social Media Marketing World 2016 keynote yesterday, Michael Stelzner revealed the fairly startling statistic:

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89% of marketers believe that exposure is the top benefit of social media. This tells me 89% of social media marketers are bad at analytics. Consider the statement we make when we say exposure is a top benefit. Exposure must lead to something else. Exposure must lead to website visitors, to new subscribers, to leads generated, and ultimately to sales made. The top benefit of social media shouldn’t be exposure. The top benefit should be revenue.

Why do marketers believe this incredible fallacy? Consider how we report social media marketing to our stakeholders. We use metrics like impressions or followers. These are important numbers, to be sure: if impressions equal zero and followers equal zero, our social media efforts would be completely ineffective. However, if we stop our measurement process at the very top of the funnel or at the very beginning of the customer journey, we have no idea how our company benefits from our work.

We have an analytics crisis in social media marketing. We have a measurement crisis in digital marketing. The worst part is the crisis is completely unnecessary. Chances are we have all the tools we need to make a legitimate analysis of how social media accelerates our sales pipeline, or how social media attracts new audiences.

Except for Snapchat (which provides no analytics), most popular social media platforms have decent top of funnel analytics we can export.

Every marketer should have access to a great web analytics package like Google Analytics.

Every marketer should have access to a marketing automation platform and/or CRM, even if it’s just a Mailchimp account.

With these tools, we can develop a real, data-driven analysis of social media’s impact on our company. The measurement crisis should have been over years ago. Instead, it seems as though social media marketers have two feet firmly planted in the past.

We can measure social media.

We can judge its impact on our overall marketing.

We can understand how social media contributes to business goals like revenue.

How do we start? In our companies, we need an executive sponsor to commit to measurement. Commit time. Commit budget. Commit people. With the right tools, knowledge, and people, we can measure social media well.


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Account-Based Marketing for Job Seekers, Part 2 of 5

Job seekers seem to be taking a spray and pray approach. They’ll fling their resume at anything that moves – and that’s it. They carpet bomb their prospect list and hope someone calls them back with an interview. Job seekers are still stuck in the bad old days of marketing. What should they do differently? Adopt account-based marketing (ABM). In this part of our series, we’ll look at the framework for finding the right job with ABM.

Before we can discuss the execution of ABM tactics, we must understand the strategy. ABM is built on the basics of marketing, like the 4Ps. If it’s been a while and you haven’t read Marketing White Belt, this is a quick refresher:

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Let’s examine the first P: product. When we are job hunting, we are the product for sale. We are marketing ourselves, our capabilities, our skills. The key mistake marketers make when first starting ABM practices is to assume every customer wants the same thing. Here’s the product, now buy it! That’s a sure way to turn off all but the most generic businesses – and a generic business is a generic employer. A generic employer treats its employees as replaceable commodities instead of valued specialties.

ABM best practices require us to customize not only how we communicate but the product itself to best fit the customers we want. Consider the average word processing software package like Microsoft Word. We use perhaps 10% of its features. However, customers use wildly different 10% portions of the product; the way a lawyer uses Word differs from how a scientist uses Word. If we were to market the most common features, we would risk not addressing the needs of each customer type. ABM best practices force us to focus on emphasizing what each individual customer type needs.

Consider your own career now. What skills do you have? What’s on your resume or LinkedIn profile? Consider what kind of employer you want want to work for. Which of your skills map to what that particular employer needs?

Once we know what we have – and don’t have – we can improve the product, improve ourselves. Suppose our ideal employer’s marketing talks frequently about analytics and analysis skills. Would we have a better chance of landing a job if we were a Google Analytics Certified Professional? Probably. Suppose our ideal employer’s marketing or product line is obviously driven by process, by quality improvement methods. Would we have a better chance of landing the job if we were a Lean Six Sigma certified project manager? Probably.

Here’s an exercise to try. Examine your LinkedIn profile’s skills section:

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Start categorizing the different skills you’ve received endorsements for into groups, so that you can understand how to present your “features” to your ideal employer. Let’s take my skills list and start categorizing:

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If I knew my ideal employer wanted a strategic marketer, I’d emphasize skills, experiences, and ideas highlighted in the red topics above.

If I knew my ideal employer wanted a strong social media marketer, I’d emphasize skills, experiences, and ideas highlighted in the yellow topics.

If I knew my ideal employer wanted a strong thought leader and speaker/brand representative, I’d emphasize skills, experiences, and ideas highlighted in the green topics.

If I knew my ideal employer wanted a marketer with development skills, I’d emphasize skills, experiences, and ideas highlighted in the blue topics.

One size doesn’t fit all companies and employers. ABM tells us to focus our product on what our ideal customer needs and wants.

Next, we’ll look at the second P: pricing.


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Account-Based Marketing for Job Seekers, Part 1 of 5

Marcus Sheridan posted recently about how little effort job seekers exert in standing out from the crowd. His example was cringeworthy on the part of the job seeker: he posted an opening for a social/video professional and not a single job seeker shot a single frame of video in their application.

Account-Based Marketing for Job Seekers

Marcus isn’t alone. I’m hiring right now, and job seekers seem to be taking a spray and pray approach. They’ll fling their resume at anything that moves – and that’s it. They carpet bomb their prospect list and hope someone calls them back with an interview.

Sound familiar to us marketers? It should. This is how we used to do marketing in the bad old days. We’d spam the world and hope someone bought something. Aside from legal restrictions, what else did this do? We ended up with some terrible customers. The best and the brightest saw through our terrible marketing and marked us as spam.

Job seekers are still stuck in the bad old days of marketing. What should they do differently? Adopt account-based marketing.

Account-based marketing (ABM) is the practice of marketing to the companies we want as a customer. ABM focuses on getting a foot in the door at qualified companies; why prospect broadly, spend thousands or millions of dollars on media and ads, and burn out our sales and marketing staff to reach everyone? We only need to reach people and companies who are capable of buying what we have to sell.

ABM can be applied to job search. Instead of applying everywhere and hoping someone calls us back, we decide where we want to work first. Then instead of making the minimum amount of effort over a large number of companies, we make a concerted effort over a handful of companies to build a relationship, get to know the hiring managers, and improve or tailor our own offering to match what our target companies need.

Over the course of this series, we’ll tackle how to apply ABM to your job search. We’ll look at you, the candidate, through the lens of ABM and give you some practical tools to land the job you want, not the first opportunity that comes your way.

Stay tuned!


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