Category Archives: Social Media ROI

Is Social Media Worth the Investment?

Methods to Help You Measure the ROI from Your Social Marketing Efforts

Social marketing is such a hot topic for retailers and entrepreneurs these days. It is talked about due to its efficient and effective way in attracting more people to come to the store and complete a transaction. This is why business owners strive to learn and keep up with this new way of getting new customers to buy their products and services.

The first step you should take if you want to invest in social media marketing is to educate yourself about the process or ask a professional about how it works. Wading in without studying the particulars of social media may end up wasting your capital for marketing.

What you should keep in mind is social media marketing takes time before you can adequately track the progress you have made. It may take at least six to nine months before you can see any notable development. Do not let this long span of time scare you from trying social media for your business. Your business cannot become popular overnight on the Internet unless you have past brand recognition and recall to fall back on.

Here is a list you can check before calculating the return on social media investment. Be sure to follow them in the order prescribed for maximum results:

  1. Study social media sites that you can use to promote your business. Each site is different, with its own set of specialties.
  2. Set up your own website. Use visually appealing colors to make it attractive. Make sure the content can engage the attention and interest of customers.
  3. Create an account in any social media site that you think would be most effective in helping you meet your goals.
  4. Make a Google Analytics account before launching your website and social networking page on the Internet. This will help you keep track of site visitors.

Once your website and social page become live on the Internet, put up a large sign in the high-traffic areas of your store saying, “Like (Your Business Name) on Facebook” or “Follow Us on Twitter.” Happy customers savvy on social media can go online later to access your page. It would also help if you personally take time to chat up loyal customers and ask them to recommend your page to other people.

Sony, the Pinterest Star that Caught a Thousand and More Eyeballs

How Sony’s Pinteresting Strategy Generated an Increase of 800% Traffic to their Website

News Bulletin:
PINTEREST NOW THIRD LARGEST SOCIAL MEDIA SITE!

Upon learning about Pinterest’s overwhelming popularity, Sony began browsing and studying the social media site. Their staff found cakes shaped according to the form of old Walkman and other old Sony products honored the same way. These images helped Sony think of strategies in planning boards that would spark attention and maintain brand awareness. They also sought to find out how it can be used to get more in touch with users and regenerate further interest in Sony hardware and accessories.

Listed here is the six-part strategy that Sony undertook for its Pinterest project:

1. Research

In their Pinterest-wide scan, Sony found that fans are already pinning pictures of Sony products and images taken with Sony cameras and much more. This allowed them to capitalize upon the existing interest and make a campaign to drive more sales, promote brand loyalty and convert more fans. At first, they repinned pictures from fans, which built more relationships and increased interest. Boards filled with aesthetically appealing content were then brought out into the public.

2. Staff Involvement

The management arranged for a contest that drove employees to create boards pinned with content that they think would be catchy to the general public and attract more customers. This generated a wide range of creatively set boards filled with well-taken images about what Sony meant to them as a brand and way of life. Upon examination of the boards, Sony learned what will work well for their project.

3. The ‘Pin It’ Button

When Sony prepared to be Pinteresting, they optimized their website to add the ‘Pin It’ button. This was done to promote readiness for the resulting attention to be brought by their Launch-their-Pinterest-Campaign project. When fans found this button next to the image or text they found appealing, they clicked it to pin in their own boards. Doing so led to further traffic to Sony’s website.

4. Different Types of Boards

Since Sony’s fan and client bases are broad and diverse, the company drove various kinds of boards that would charm their audience. For the techie crowd, retro Sony products and ads were brought out. There’s also the Sony Artist Style is brought out where a fashion board of recording artists fascinated the masses.

5. Original Content People will Love

Once Sony captured interest with their starting campaign, they begin advertising content that sustained continued awareness of your brand. They announced special deals limited to Pinterest users and showed unique art like the heart formed by a number of digital point-and-shoot cameras and DSLRs. This made traffic boom until it reached 800% since the offers’ appearance in May 2012.

6. Promotion through Other Websites

Since Pinterest is a highly competitive social media site where different netizens and brands show off their best pictures, Sony reached out to their fans in other avenues. The website, blogs and other tools like Pinreach and Curalate were used to promote interest to their site.

 

How can other brands and businesses approach the magnitude of Sony’s success?

If companies study and follow Sony’s example, they have the potential to be successful. What other businesses can do is to investigate what Pinterest advertising initiative will work best for their products. Only when they realize this can they start going on a campaign. So, start your own research now to be Pinteresting!

 

Reference: http://www.socialmediaexaminer.com/pinterest-case-study-sony/

http://econsultancy.com/us/blog/10080-how-sony-uses-pinterest-to-drive-traffic

Data Never Sleeps: Reasons to Engage in Business Social Marketing

 

Every time we boot up our computers and connect to the Internet, we see seemingly endless streams of text, pictures and videos. We read some, view many and watch a little. From its inception in the 1990s, the Internet has evolved from a place where people can connect and enrich their personal lives. Now, it is a competitive marketplace where businesses entice us with their products and services. Everyone must keep up with the latest developments, for we become outdated if we neglect to participate.

Here are some numbers for you to look at:

If each one of us updates our websites, uploads fresh content for blogs and conducts searches for relevant information, the numbers above will surely rise. Same thing happens for businesses and advertising firms that operate online. If the Net is already filled with variety now, how much more can we actually experience if everyone contributes new content every day?

When businesses first started to see the potential of utilizing the Net for promotion purposes, they got amazed with the high rates of investment returns. You can achieve the same results if you properly advertise your business using applicable social marketing tools. Many of these tools are free of charge with no maintenance costs, unless you’ve applied for premium memberships. Take advantage of the free tools mentioned above and experiment with some of them. After you have gained proficiency, you can be sure to succeed in any social advertising plan you want to launch.

Whether you’re a contractor, a restaurateur or specialty-niche businessperson offering portable toilets, the Internet has a place for you. Everybody who wants to have a piece is granted a spot. Come on now, one and all, and see how social media can work well for your products and services!

Everyone must keep up with the latest developments,
for we become outdated if we neglect to participate.

Is Public Relation Social Marketing?

Here is a great post from a PR specialist who now does social PR/marketing. Some very poignant and candid comments makes this post a  great read and an eye opener for anyone in on the long hard road to Social Content and/or Community Building. Here is a link to the original post if you would like to read more about Anita and the world of PR-Social.

Social media by itself doesn’t work!

I don’t work for a social media firm. I work for a PR consultancy, which has expanded into the digital sector. But the traditional stuff is still all there. It didn’t disappear and social is an addition to everything that’s been going on for years. My background isn’t in PR so you can imagine that it’s not always easy. I want and need to learn how PR works. From scratch. And that’s just it. Social media is never JUST social media. You’ll have to learn many things that you may not necessarily be interested in to make it work for your company or clients.

 

The job will follow you home!

Social media is constant. And while you may know that, you really don’t until you work in social media. People don’t stop talking when you leave the office at 6. In fact, that’s usually when they start talking. You have to learn how to deal with time differences, constant monitoring and engaging. If you are anything like me you’ll have a tough time ignoring your beeping phone or the constant stream of Emails. You’ll keep thinking about strategies, updates, monitoring etc after you leave the office at night.

 

Social media equals a lot of research!

Before you do anything remotely connected to social media, you’ll do a lot of reading. A lot of googling. A lot of combing through directories and statistics followed by a whole lot more reading. And once you are done with all the reading, you start to analyse what you just read which then, somewhere down the line, evolves into a strategy. Then eventually, you’ll put the strategy into practice which, again, is followed by a lot of research and analysis. Until you start over.

 

Working in social media isn’t just fun and games!

Social media is SOO much fun, you say? Well it is, until it isn’t. You have to think a lot. Especially about wording. The way you say things in your private life may not be right for your client/company. You’ll have to adapt your writing style. Your way of thinking. And *actually* do some work. It’s not just about playing around on Facebook all day. It’s rather the complete opposite.

 

You need to stay on the ball!

Social media evolves. Constantly. You can’t afford to miss out on these developments because they may be good for your client. How do you do that? Through reading. As you can see, there’s a pattern.

This post isn’t meant as a discouragement to anyone who wants to work in social media. It should rather help you evaluate your decision and make it easier to decide whether it’s right for you. There’s no shame in it being wrong for you. Not everyone is made for it. It’s always better to find out sooner rather than later.

How Viral Videos Work, from “The Man” at Youtube

Promoting a viral video is almost as important as making a great video for youtube. Find out more in this great TED talk with Kevin Allocca, YouTube’s trends manager. Listen to his deep thoughts about silly web video. In this talk from TEDYouth, he shares the 4 reasons a video goes viral.

TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes. Featured speakers have included Al Gore on climate change, Philippe Starck on design, Jill Bolte Taylor on observing her own stroke, Nicholas Negroponte on One Laptop per Child, Jane Goodall on chimpanzees, Bill Gates on malaria and mosquitoes, Pattie Maes on the “Sixth Sense” wearable tech, and “Lost” producer JJ Abrams on the allure of mystery. TED stands for Technology, Entertainment, Design, and TEDTalks cover these topics as well as science, business, development and the arts. Closed captions and translated subtitles in a variety of languages are now available on TED.com, at http://www.ted.com/translate

Check out this great post for a more in-depth analyses of the talk. Here is an excerpt from that article.

The key is a creative mind that can see the angles, understand the market within the context of the brand and available channels, then create a strategy which allows for meme/news jacking initiatives that can uitilise the momentum of trending videos. Until this happens at a core level then companies will be chasing their own tails, tentatively dipping their toes in the viral waters unsuccessfully.

Content Marketing is Exploding Now

Content marketing is undergoing massive growth right now and we’re seeing a revolution take place across all aspects of online marketing. One of the most widely shared and high profile examples is Coke’s recent 2020 content strategy. These videos are long, but essential watching if you want to understand how brands are going to be spending their marketing budgets in the coming years:

PART 2

Measure Social Media ROI

Start to measure social media networks together and separately.

Every social media network has its own set of strengths. For example, you may find that Twitter drives the most site traffic, Facebook generates the most leads, and LinkedIn generates less but more qualified leads. Yes, you should absolutely analyze your social media strategy as an aggregate of all social media networks so you can compare it to other campaigns, but then be prepared to break it down network by network. This will let you determine which networks are best helping you meet specific sales and marketing goals…and which aren’t making the cut.

Track visit-to-lead conversion.

Social media helps drive traffic to your site, but traffic doesn’t bring home the bacon. Track (network by network, and as an aggregate) how many of those visitors convert into leads. Knowing exactly how much of a role social media plays in lead generation will help you meet your monthly lead goal by giving you the historical data to set an educated goal based on how much social media brings in, and what that rate of growth looks like month over month.

Track lead-to-customer conversion.

The next logical step, right? Now that you know how many leads you get from each social media network and social media as a whole, make use of closed-loop analytics to see how many leads turned into customers. This insight will help you implement a mature lead scoring system so your sales team can focus time on the leads most likely to close. When you use closed-loop marketing on social media leads, you can also learn metrics like how much social media customers cost to acquire, and how much they spend with you compared to leads from other campaigns.

Score leads and monitor the sales cycle.

Score social media leads and monitor how much time it takes a social media lead to make it through the sales cycle. Not only does scoring leads help your sales team prioritize its time, but this insight will also help inform your lead nurturing program so you can shorten the sales cycle for social media leads. It also helps you understand how valuable a social media lead is, and where it ranks compared to leads from other campaigns.

Watch site behaviors from your social media traffic.

Understanding how to properly nurture social media leads will depend heavily on this step. By understanding where social media leads enter, leave, and spend their time on your site, you can see what type of content addresses their specific needs. So before entering them into a lead nurturing queue meant for, say, people in the middle of their buying cycle, you can provide content that addresses their specific problems.

Many marketers are faced with constantly justifying the time and money spent on social media, so being able to tie actual dollars to the process of generating and converting leads from social media networks is crucial. Tracking and evaluating these data points gives marketers the power to say whether social media activity really does or doesn’t drive sales and revenue.

Thanks to the writers at Hubspot for all this info. If you would like to learn more please check out this link for more info and stories.

Impact of Branded Apps on Consumers

The study confirms that using branded mobile phone apps increases a consumer’s general interest in product categories and improves the attitude they may have toward the sponsoring brand. The researchers also found that mobile apps which are informational in nature or utilitarian were more likely to engage users than those where the app focused on entertainment or gaming.

“The very personal nature of mobile phones, including the new smartphones, which are practically extensions of their owners, means that advertisers need to adopt new rules of conversation with mobile phone users,” said the research study, co-authored by Potter and four researchers at Murdoch University in Australia.

According to the researchers, retailers who develop apps overcome challenges being presented by dramatic shifts in television viewing and barriers to advertising on mobile devices. Using the app, consumers “talk to the brand, not the other way around,” and consumers feel comfortable controlling how much information they reveal when they customize the app.

“You have a more favorable attitude toward the brand that’s sponsoring the app when you go to think about where you shop,” he added.

The researchers used eight branded apps. Half of the brands were in product categories that predominantly target men and the other half, women. The four male-targeted brands were Best Buy, Gillette, BMW and Weber. The four female-targeted brands were Gap, Kraft, Lancôme and Target.

“We found through the physiology measures that when you have an app that provides people with information that it is something they internalize and personalize more than the external-based focus of the game-based app,” Potter said. “You’ve invited the brand into your life and onto your phone. If it’s an informational app, you’re inviting that brand even deeper in, because now you’re thinking about what’s in your life and apply it to the things that the apps are presenting you with. With the experiential app, things are still kept at a distance — you’re still experiencing it on your phone and not in your life.”

Apps that used an informational style were more effective at shifting purchase intention, compared to apps that used an experiential style, the paper added.

Examples of informational apps were the Kraft app, which provided useful tips about cooking and entertaining guests with their food products, and Target’s app, which allowed shoppers to see the week’s deals and clearance items and access product reviews by scanning bar codes. They were less affected by the Gap app, which enabled users to dress a virtual model, and BMW, which allowed users to configure a 3-D replica of one of its cars and take it for a virtual test drive.

Respondents were unaware of the differences in how they reacted to various apps. When asked, people told researchers there was no qualitative difference between the various apps.

Potter thinks that an important new strategy for many retailers will be to market their app as well as their product in order to reach new potential customers.

“Marketing their apps to consumers that aren’t a natural target can be a way of broadening the tent,” he said. “If you market apps to people who may have never heard of your product or who aren’t familiar with the product category, then our research shows that if you can get them to download the app then you may be able to introduce a whole new audience to your product.”