Social Media Monitoring Lesson #1: Time is Money

Hugh Macken • Mar 26, 2010

Seems some corporations have fallen into the trap of failing to budget for the “total cost” of social media listening. In September of last year, Forrester Vice President and Principal Analyst Suresh Vittal (along with with Carlton A. Doty, Zach Hofer-Shall, and Emily Murphy) wrote a research report in which they stated the following: “Marketers […] The post Social Media Monitoring Lesson #1: Time is Money appeared first on VMR. Social Media Monitoring Lesson #1: Time is Money was first posted on March 25, 2010 at 10:03 pm.©2015 "VMR". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at hugh@vmrcommunications.com

“Marketers must expect listening budgets to vary based on the level and complexity of listening. They will also include monthly tool fees, project and reporting fees, and, most important, internal expenses for budgeting time and resources to the listening goals [emphasis added by Hugh].”

In a blog post published the next day concerning the research paper, Vittal pointed out that “Far too often, [marketers] focus purely on the software costs associated with such tools.”

Vittal makes an interesting point and one that marketers will ignore at their peril: When budgeting for listening, don’t forget the internal costs of human resource allocation.  

How is your company or organization dealing with the human element of listening? 

Have internal costs exceeded your expectations?

 


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