Gotcha!  By simply reading this article you may have self identified yourself as one of the 40% of marketers who are experimenting with social metrics, learning which works best for you.  Or one of the 37% who struggle to find good ways to measure social activity and its impact.  This all according to a Forrester Research, Inc.  study of Technology Product Management & Marketing Professionals.

Measurement is always a challenge, but it’s more of a challenge if you don’t start with clear expectations of what the social media effort is supposed to do.  Forrester suggests a good way to think about it.  They suggest creating a value chain for social media tactics or ideas.  It goes like this:

Using (specific social activity/approach)      , we help (primary audience) accomplish (target social objective) and make (specific process or goal for the audience) better as measured by     (relevant measures and metrics) which is worth (bottom-line business value)    .

This looks easy enough, and it is easy to write.  The problem is defining the bottom-line business value and sticking to your guns in holding social media accountable.

Nearly every business should require a “bottom-line business value.”  Most marketing activity is judged by its contribution to sales.  Maybe the objective is more and better leads.  More loyal customers.  You could even argue that engaging a customer in a dialog helps you understand their mindsets better.  All legitimate ways of thinking about it.

So, you dive in.  Start a Facebook page.  Put some posts up. And there’s silence.  Deafening silence.  Hello-is-there-anybody-out-there silence.  You’ve seen those pages.  Maybe you have one.

You know if you ran a traditional media campaign and nothing happened, leads dry up, sales are stagnant, awareness doesn’t change that the campaign would die a quick and brutal death.  If you sent a direct mailer that didn’t produce, you’d never send the same mailer again.

But with social media, we have a hard time holding it to the same standards of results.  Why? Is it that we fear that if we’re not doing it someone will think us not current?  Is it that we would admit that we don’t know how to get the audience to engage?  Is it that a failed social media effort wouldn’t look good on our next review?  Or is it that we can’t bear the thought that our target audience is just not that into us?

Marketing to the Millennial generation may be as simple as helping them reach their goals through your products and services.  This is a generation that seems to be motivated by an inner conscience  that guides how they want to live their lives.

It occurs to us that many businesses could benefit by looking at their products in the light of the Millennial priorities pointed out in the Pew Research Center graph above.

The research suggests that being a good parent is a top priority.  This would suggest marketing products in a way that would help them feel that the purchase and use of the product in some way makes them a better parent.  Serving healthy food, investing for college, being earth friendly and being safety conscious are all part of being a good parent.

Products that save time or allow Millennials to spend more time with the family match their priorities as well.  If you can combine being a good parent with having more free time to have a successful marriage, you’ve rung their bell three times.

Millennials are often characterized as being coddled, soft and entitled.  And while it’s true that when they were ten and playing soccer they all got a trophy, their priorities suggest personal sacrifice and concern for the important things in life that many of us in the older generations often forget.  When “Helping others in need” is a high priority among the generation, it is very easy to see how a company with a good record of community support could find common ground with this valuable audience.

Whether it’s parenting, the digital world or the various crises that have happened in their lifetime, Millennials are one of the most interesting and compelling audiences for marketers.

There’s an old axiom among fishermen that goes something like this, “Some lures are meant for catching fishermen and others for catching fish.”  Having grown up fishing, my tackle box is living proof of that truth.  Seems like the flashiest and most colorful lures never caught a thing while the rattiest, most beat up piece of wood with hooks has a history of catching the most and the biggest.

The real truth is all lures will catch fish if fished properly, at the right time in places where there are fish.  Social media seems to be one of those kinds of lures.  It’s the hottest, shiniest new lure out there in the marketing lake. There are a lot of people fishin’  but only a few that are catchin’.

R2integrated just published a study indicating that nearly 50% of companies using social media have no social media strategy.  That probably also explains why 65% of those reporting indicated that they hadn’t increased sales as a result of using social media.  Yet 77% said they were doing social media for lead generation.  Huh?  Fifty-four percent said that social media is integral to their business.  Whaaaaa???????

So, half don’t have a strategy, Most know what they would like it to do. It’s not doing what they would like it to do but it’s integral to their business.  In the word of Bill Cosby, “RIIIIGHT!”

Social media has caught a lot of fishermen but it hasn’t put many fish in the boat.  So as most businesses cast and crank their social media lures into a vast ocean with a few prospects swimming in it, there are a few who’ve used strategy to locate fish concentration and entice those prospects into their pond.

What is a social networking strategy?  If you think about it in purely social terms, it’s why you get invited to a dinner party.  You either supply interesting conversation…which usually means you’re don’t talk about yourself constantly because you’d be a complete bore and you’re really not that interesting.  Or, they really like your significant other.  In any case, your social media strategy should have its own shiny new lure to draw fish into your area of the lake.  Then you need to know what bait to use to get and keep them involved.  And that’s the difference between fishin’ and catchin’.

What company doesn’t have a Facebook page, a Twitter account or even a YouTube Channel? All of these can be great vehicles for conversing with customers and prospects and for building brands. They also offer easy platforms for those who want to sabotage your organization – current or former employees, disgruntled customers or people who simply want to tear down your company’s reputation.

Perhaps the most famous case was the YouTube video that showed employees at a Domino’s Pizza store in North Carolina doing some disgusting, explicit things in the kitchen. The openness of social media offers an easy ticket for social sabotage.

Your identity can be hijacked by a bogus Facebook profile. Comments posted in jest on a blog or in a Tweet could be easily be misunderstood to the detriment of your reputation. Or a disgrunted employee or customer could go on a profanity-laced tirade against you, your company or your product.

So what do you do when it happens to you?

1.   Monitor the social media space. There are online services that aggregate social media mentions of your company, people and products in real time — Technorati and Radian6, for example. Monitor those several times a day. Check your own Facebook pages, fan pages, blogs and YouTube Channels as well.

2. Delete offensive, explicit posts immediately and report them. If offensive material shows up on your Facebook page, delete it immediately and report the offender.  Each site has links to report fraudulent, offensive or abusive behavior. In the case of someone passing himself off as someone else, report it to the social media site immediately. You will likely have to block all posts from that profile until Facebook can remove the profile (and that’s a subject for another time).

3. In the case of false or explicit posts on another organization’s social media sites that are damaging to you or your business, contact the site owner and insist the offensive or false information be removed immediately. If necessary, contact your attorney. Libel laws provide the same protection to people defamed on blogs as they provide to people defamed by the New York Times.

Fixing social sabotage consumed Domino’s for weeks. The offending employees were fired and charged with felonies for adulterating food. Domino’s president posted a new video issuing a public apology for what happened and tried to reassure consumers that similar acts weren’t occurring at other Dominos stores. He also shut the restaurant down for several days and brought in a crew to sanitize it from top to bottom in full view of local TV cameras.

There continues to be dialog about social media versus traditional media and how social replaces traditional…at least that’s from people who make their living with social media. Traditional media advocates are silent in fear of being labeled “old school.”

We think it’s the wrong argument. We think that social media has much more in common with traditional media than the new gurus would have you believe.

The key difference is the fact that two way communication can be much more powerful for good or bad. A bad magazine ad wastes money. A bad discourse between a brand and it’s social following can destroy the brand.

We’ve all seen companies who rush to Facebook or Twitter effort does nothing more than pimp product or company information. It’s amazing to us how the appreciation for the audience’s interests is ignored for self interest. More, they intrude on a space reserved for “friends.” Not for long though, the ignore button is easier than a DVRing past commercials. These efforts usually have few fans and most of the fans they have will be already connected with the organization sponsoring the effort.

The discussion between social media and traditional media should really be about how to integrate the two and magnify the effectiveness of each. At what stage of affinity does social media really kick into the equation? Does it happen at the awareness phase? Or, closer to the “I’ve bought and I love/hate it phase?” Which media is better at which point of affinity?

If you have a product that has caught fire and your customers can’t wait to tell others about it, social media can create awareness and demand. If you have a product that is a hard to love necessity of life, not so much.

If you’re struggling with the argument of social media versus traditional, take a moment and create a scale that goes from totally unaware to loyal customer. Ask yourself which media strategy makes sense at what point of the continuum? How do you move a prospect from totally unaware to in love of your product? Then make it all work together by connecting the dots between all the options you have on the table.

If you do that rather than rushing into ineffectiveness, you’ll have a cohesive plan that makes the most of your marketing dollar.