When old metrics meet new media
06/26/10 05:07 PM Filed in: Social
Media
According to articles on Yahoo Finance and the Financial Times, those 85 million impressions translated to a rate of 6% engagement, versus a typical .02% for any other type of online ad. Again before you get too excited it's important to understand that Coke's Tweet was a teaser to a contest sponsored around the World Cup. To me the impressions don't mean a damn thing and neither does the engagement rate because, frankly, I'm not sure it's going to make me want to buy Coke.
I know that I have been saying on previous posts that we need to move away from a quantitative ROI for social media but I also said that social media has to be taken as part of the whole marketing program. Tweeting about a contest for the world cup and offering a contest is going to make people purchase Coke because....
It all goes back to strategy. I could see wanting to generate impression for a new product or brand but to want to generate impression for an established brand like Coke does not mean that consumers are going to purchase more Coke. I mean if you want to have a relationship with a soft drink brand like Coke you may be in need of a life. At least other soft drinks like Red Bull and Monster have this underground movement because they are loaded with caffeine but I have to be honest and say it's been a long long time since I have seen a young person drinking a Coke.
85 million impressions means nothing and in fact the term impressions in new media should be banned.
