Now companies using the new social reports can tell Google the goal that they’re interested in, whether it’s making a purchase, registering a user, or just having someone click on their about page. Then Google will show you not just how many visits are coming in from social networks (and which social networks in particular), but also how many of those social visits are “converting” to that goal.
The glow of one warm thought is to me worth more than money. ~Thomas JeffersonShow me the money! ~Tom Cruise Two very different Toms. Which one are you with? Jefferson? Or, Cruise?
Social media receives a massive amount of attention on the web and attracts a great deal of interest from marketers, too. The primary complaint of those who invest seems to be consistent: it's hard to measure the impact to the …
Publish Date: 09/07/2011 7:51
I had the priviledge of interviewing David Graham and Andre Hugo from Deloitte in how they use social media to achieve strategic objectives. The interview.
Publish Date: 07/13/2011 14:00
A fact of ROI is that while the formula is simple, the variables can get complicated when multiple investments contribute to a single measured return (i.e. social media's role in the attribution question) or when a single …
Publish Date: 09/20/2011 22:35
Unless they are prefaced by dollar signs, numbers are not sexy, which is why social media experts have spent years avoiding them. Like the cool kids, they often.
Publish Date: 03/01/2010 22:10
Do you know the analysis of social media endeavors is directly related to your business performance? What is the meaning of that increase of followers,
Publish Date: 09/21/2011 4:00
Social media marketing works…it’s just hard to know what part is working best. With literally unlimited opportunities to participate and use social media, you need to know what is effective to dial in your efforts and become more efficient over time. [Read more...]
Prospects involved in online communities can have a multiplier effect on your marketing effort if you can convert them into brand advocates for your business.
In a recent eMarketer post we found a recent survey conducted by Synovate for word-of-mouth ad network PostRelease investigated just how likely Internet users are to talk about Brands and motivate consumers to become advocates. The study confirms that involved Internet users express this brand advocacy in many ways online and offline. This is called “earned media” in professional marketing circles…where brand messages get repeated in traditional media outlets, online in social networks or offline in recommendations and conversations. It’s free and very valuable.
The concept of earned media is important because it is the most powerful form of communication. Studies have shown for years that work of mouth communication is the most powerful form of motivating consumers. This study looks at (and confirms) how online brand advocates influence friends and family around them online and offline.
The most common word-of-mouth activity reported by respondents was helping a friend or family member with a purchase decision, but more than two-fifths also said they had shared advice offline about information they learned on the Web. Significantly fewer Internet users posted their own ratings and reviews online, and only about one-half as many shared links to articles or reviews about products.
As you might expect, participation in social media and word-of-mouth activities was highest among the younger set. Even more interesting, almost half of them gave offline (in-person) advice based on information they saw online. But the numbers are strong across age groups.
eMarketer reports that PostRelease also broke down respondents according to whether or not they participate in online forums, which about one-fifth of those polled did. Forum participants were significantly more likely to take part in all the activities queried. Notably:
Users of forums, who are already actively engaged in online social activity, make for “enthusiastic consumers and influential brand advocates,” according to a statement by Justin Choi, president and founder of PostRelease.
What does this mean for your business?
You know those fans you are collecting on Facebook, the followers you are collecting on Twitter and the readers you are engaging with on your blog? Those are people you want to make into passionate brand advocates. They will have a multiplier effect on your top line revenue that will give you the edge in your market. The key is to carefully and deliberately build your fans, followers and readers so that you have a real relationship with them. Nurture them and activate them.
What do you think?
As we discuss in Digital Forensics, listening to your customers and observing your competitors can give you a big edge when it comes to business marketing using social media and the distributed web. Done right, your will get to the point where you are learning a ton about how you can improve your product, delivery and messaging.
If your at the point where you have a good pulse on your customers from listening and participating in blog and forum discussions, then it may be time to consider embracing this information and taking action to further your brand objectives. By incorporating some of this rich customer information and feedback into your marketing campaigns or product design or service offering, you can gain brand advocates and improve your brand/business positioning.
Getting started is simple:
Figure out the best way to solicit ideas from customers. Where appropriate, use the blogs you are following and participating in to propose ideas/solutions you would like to test and solicit comments. Another great way to do this is using Yahoo Answers, LinkedIn Answers and other sites like them to ask questions directly and get a read on who is asking questions similar to yours. Don’t be afraid that competitors will be getting this information as well. They key is acting on the information, and the next three steps will put you way ahead of them.
Vet feedback. Not all information you get back will be good information or necessarily reflect the underline idea you are testing. Spend time sorting through the feedback and continue to clarify and hone the ideas in the communities you are participating in until you feel comfortable that you have a solid idea.
Structure internal communication and process to best incorporate these customer ideas. Ideas without follow through will not get your new customers or market share. You now have the knowledge, the key is working this information into your internal workflow so that you incorporate these new ideas into your business.
Communicate the changes and improvements you will be making to your communities. Use the communities that your developed your new product or service ideas with to become brand advocates. They are already pre-sold on what your product strategy is…find ways to empower them to let others know.
Implementing this strategy will create huge economic advantages for your business. By identifying and executing new ideas that will expand your customer base, and have them purchase more products from you more frequently, your business can expand margins because capital investment to implement these ideas is not high (in most cases).
Go try it and tell us what you think.