Men Lie, Women Lie, Numbers Don’t

I was sitting in a meeting recently with the owner of a small marketing agency, discussing with him my service offerings and fee structure. I’m not sure of the accuracy of his calculations, but at one point, he seemed to be hesitant about what I was asking for, claiming that I was requesting nearly 1/3 of the entire marketing budget. Even to me, that seemed like a lot!

But I thought about it, and on second thought, started thinking, “Am I really asking too much?” So I did some research, and replied with the following E-mail:

I was thinking about your concern that my social media proposal asked for 30% of a marketing budget. It made me do some research to justify why a significant portion of a marketing budget should be dedicated to social media. What I found was:

  1. 36% of the average person’s major media consumption was devoted to internet and mobile devices (26% and 10% respectively) – eMarketer
  2. Social networks and blogs account for 23% of online use (37% of social media users access social media on mobile devices, and they are the 2nd most valued apps behind GPS) –¬†¬†Nielsen
  3. 60% of Facebook fans and 79% of Twitter followers are more likely to recommend those brands since becoming a fan/follower, and 51% of Facebook fans and 67% of Twitter followers are more likely to buy the brands they are a fan/follower of – MediaPost
I certainly understand the question of how much of a client’s marketing resources should be devoted to social media, but statistics like these show it’s where people spend a significant amount of time, and it has value in terms of creating and communicating with loyal customers. Especially in Modesto where most clients can’t even afford to consider TV (which is the number 1 media consumption channel), it really isn’t a stretch to argue that a significant portion of a client’s marketing budget be directed to social media.
Food for thought. Have a good weekend-

Again, this isn’t to say that 30% is the number, or should be the number. The point is simply, you should direct your marketing/communications budget appropriately based on where you are most likely to reach your consumer, and while the thought of making social media a priority in your marcom budget may reflexively sound ridiculous, the numbers don’t lie.
Advertisements

Facebook Fans More Likely to Consume Coke

According to Coke’s senior vice president of integrated marketing, Facebook fans are twice as likely to consume and 10 times more likely to purchase than non-fans. To be honest, the full article doesn’t shed a ton of new light other than this little nugget, but if you’d like to read the full article, click here.