The Economics of Social Media Measurement Technology (June 2012)

Like any type of marketing, not all leads are created equal. This blog post is especially important for B2B companies, since the buying process is typically longer, involves greater expenditures, and needs to be properly tracked in your CRM, Web/Email/Social Analytics.

The other aspect of social media that might not be apparent to a lot of people is that it can have an impact on every stage in the buying cycle, and of this writing I’m pretty sure that Argyle Social is the first social media management software provider that has correctly released the ability to connect off-website social media interactions and customer relationship management software records.

Although this is absolutely fantastic that Argyle has paved the road for the masses to start connecting the social dots within the entire marketing campaign history of a lead, the economics of implementing this type of solution is still out of reach for a lot of businesses. This is a short term drawback of industry firsts. Overtime, competitive forces and technological advances will drive prices down, so that this type of capability will be more accessible.

A great analogy is professional websites back in the mid to late nineties. There were only a few specialists that created them and demand was rising, so these specialists could naturally charge a premium. Over time, competition and technological advances have driven down the costs of producing and maintaining a website for smaller businesses.

So my only advice for smaller businesses at this point is: sit tight, the technology is coming in short order. Until then, there are still ways to measure social media’s impact with some less accurate but important methods. Google Analytics, campaign tracking from your social media links, and if budget permits, using contact record cookies with Infusionsoft or Hubspot.

The Ultimate Guide to Social Media for Small Business

About Nick Robinson

Nick Robinson is the Director of Client Services for Social Media HQ. He has a strong background in web development, marketing, and entrepreneurship. His professional experience with the web dates back to 1997 when he coded his first Geocities website. When not burning the midnight oil, you can find him on the lacrosse field, playing or coaching. The best place to interact with him is Twitter - @socialrobinson or Google+.
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