A while back, I wrote a post regarding how monetization was an ambiguous area, and while ambiguity seems like a negative thing, it’s reaping handsome rewards as an unsaid associate term of social media.What do I mean by that exactly? The term social media has yet to really be defined (Honestly, ask any person and each will give you a different answer as to what social media is), so a lot of PR/marketing type folks are charging an arm and a leg simply for comment moderation, hashtag set-ups on Twitter, and my personal favorite—editorial calendars for blogs. The selling point: brand engagement. Engagement. Ah-- music to a client’s ears that has been trying to integrate social media ever since BlendTec increased sales 700%.
While a need to develop social media 101 kits for internal communication purposes is certainly legitimate, I think these add-ons (such as the ones mentioned above) are really just a way to a guaranteed long-term retainer with the client. The advantage is knowing enough, because it’s impossible to know it all due to social media’s continuing evolution, and that's a good thing for cash flow.
Funny enough—people do claim to know it all. We call them social media “experts,” and in my opinion, they’re overrated and they overcharge. Social media isn’t black and white like ad equivalency rates; there is a multitude of ways to measure, to define measurement, and to put a price tag to it. Fortunately, clients waver on the higher side when integrated, and that’s a good thing for PR/marketing agency revenue.
Overcharging isn’t anything new to building investment estimates. It happens ALL the time, BUT I’d say that social media experts are indeed the biggest perpetrators of this.
What companies can do to avoid social media overcharge
- Assign one person internally to social media comprehension, integration practices, and overall research.
- Read social media blogs by leading interactive and emerging media contributors that offer up wisdom against social media experts, such as Amber Naslund, Jason Baer, or Sarah Evans.
- Investigate the person who’s pitching you their understanding of social media. If you visit their self-titled Website and their Web bio says “expert”…. RUN.
- Set up a month-by-month project pay and base compensation on the results. After all, the focus is not engagement, but engagement that leads to click-throughs, positive commentary, and increased Web sales or those earthly cash register rings.
Thanks for reading!
Tim