It seems that the news of Domino’s Pizza ‘takeaway’ success is the hot topping of the week! With online sales reaching £56.9m in the first half of 2010, Chris Moore, chief executive of Domino’s attributed the increase to innovative marketing and a foray into location based servive Foursquare.
Woddy Allen once said that relationships are like sharks, they have to constantly move forward or they die. The same could be said for hestitant businesses and executives who are fearful about engaing in the social media space. But with ROI’s like this they would be wise to take a leaf from Domino’s book.
Domino’s engagement is impressive, their Facebook page has in excess of 36,000 fans and there are numerous fans of individual store sites too. In addition, they have led the way with social media initiatives such as affiliate marketing, and the development of a link up with Foursquare, offering users free pizzas and discounts when they check into Domino stores.
Fortune favors the brave and those willing to experiment are paving the way and reaping the rewards. In a recent Mashable article Brian Solis identified that the CFO, CEO, and CMO of any organization would be remiss if they did not account for spending and resource allocation for social media. Yet MarketProfs recent study indicates that they still want measurable results from social media.
The study also found that social media still evades CMOs with:
– 53% are unsure about their return on Twitter (Twitter)
– 50% are unable to assess the value of LinkedIn (LinkedIn) or industry blogs
Most importantly, about 15% believe there is no ROI associated with Twitter, and just over 10% cannot glean ROI from LinkedIn or Facebook (Facebook).
More often this resistance to engaging in the social media space is an indication of the pace of change and the lack of ability to quickly adapt. Confusion abounds and businesses cannot see the wood for the trees as the rules of engagement constantly shift. The first step is to know what success looks like then it’s a matter of planning and strategy. The terrain is new and more than often it takes individuals and organisations who are familiar with the topograpgy to help you along the way.
The trueism “fail to plan, plan to fail” is particurally true in social media, it’s no longer just about having a Facebook page or a Twitter Page, it’s about knowing where you want to get to and using the best tools for the job.
Domino’s and other pioneering brands know what the three simple ingredients of success are, listening, engaing and measuring. Time to get cookin’.