Really good article in last week’s WSJ. Exactly what we’ve been talking about for years. Here’s a snippet but for the full thing I encourage you to go to:
Note the line “A majority of respondents in a Gallup survey said that social media had no influence at all on purchasing decisions”.
Social Media Fail to Live Up to Early Marketing Hype
Companies Refine Strategies to Stress Quality Over Quantity of Fans
In May 2013, Ritz-Carlton Hotel Co. bought ads to promote its brand page on Facebook. After a few days, unhappy executives halted the campaign—but not because they weren’t gaining enough fans. Rather, they were gaining too many, too fast
“We were fearful our engagement and connection with our community was dropping” as the fan base grew, says Allison Sitch, Ritz-Carlton’s vice president of global public relations.
Today, the hotel operator has about 498,000 Facebook fans; some rivals have several times as many. Rather than try to keep pace, Ritz-Carlton spends time analyzing its social-media conversations, to see what guests like and don’t like. It also reaches out to people who have never stayed at its hotels and express concern about the cost.
Ritz-Carlton illustrates a shift in corporate social-media strategies. After years of chasing Facebook fans and Twitter followers, many companies now stress quality over quantity. They are tracking mentions of their brand, then using the information to help the business.
“Fans and follower counts are over. Now it’s about what is social doing for you and real business objectives,” says Jan Rezab, chief executive of Socialbakers AS, a social-media metrics company based in Prague.
For the full article go to: