The ROI of social media marketing and new rules from Facebook and the FTC in this week’s Social You Should Know.
Social Media Doesn’t Impact Sales; Wait, It Does Impact Sales
On Monday, a senior marketing manager at Coke made a splash when he said that online buzz had no measurable impact on short-term sales of their products. While he was careful to caution others not to make broad conclusions, the article got big online buzz and that buzz did have a measurable impact. On Wednesday, Coke issued a response saying, in part, “In beta testing with Facebook, we’ve been able to track closed-loop sales from site exposure to in-store purchase with very promising results that are above norms for what we see with other media.” In related news, a new study on hotel social media found that a 1-point increase in review scores on Travelocity allows a hotel to increase its price by 11.2% with no loss of occupancy.
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