07/31/2020

Daily Buzz: Find More Social Media Value

Boost ROI through targeted social media tactics

Social media has exploded during the COVID-19 pandemic, and not only because of the masses of isolated users—spending on social media campaigns increased 74 percent during the first two months of the pandemic in the U.S. And it’s money well-spent, according to respondents to The CMO Survey: For the first time since 2016, companies are reporting a boost in social media’s contributions to company performance.

Now, the question for organizations is how to extract more value from social media partners. Writing for Harvard Business Review, Christine Moorman and Torren McCarthy recommend four guiding principles for working with partners, beginning with trust. “Trust paves the way for effective decisions, calculated risks, and creative work,” say Moorman and McCarthy. “But building trust takes intention.”

Establishing and sticking with clear communication channels—including a process for conversations that need to be fast-tracked—can help maintain that trust. Finding the right mix of internal and external perspectives helps too, as does establishing clear performance indicators and objectives.

Please select this link to read the original article from Associations Now.