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Posts from the ‘Social Media ROI & Data’ Category

13
Jul

The Age of Social Media Analytics

Social analytics are becoming increasingly important for the success of a campaign.  Social media analytics allow companies to track the effectiveness of their campaigns, and more specifically, the channels through which they “get the word out”. Read more »

10
Jul

How Social Media Can Give You The Best ROI For Your Business

It’s no secret that when a business is looking to employ a new marketing strategy, or even re-vamp their existing one, what they are really looking for is what is going to give them the maximum amount of positive publicity for their marketing dollar.

In a world where competition between rival businesses is so incredibly high, it can be extremely difficult to gain that competitive edge and maintain a stable and growing marketing plan without breaking the bank. Read more

28
Jun

Social Media Analytics with MavenSocial

What are social media analytics?  How can they help your company reach your consumers and disseminate positive brand awareness?  Read more »

24
May

It’s All About Loyalty (that is, consumer loyalty, baby!)

Okay, so you’ve finally got that stubborn consumer or competitor’s loyal customer to jump over to your side and they’ve finally made the purchase! You’ve officially caught the eye of your intended consumer so obviously the hard part is done, right?

Wrong.

Unfortunately, what marketers often appear to overlook is the fact that while you may have captured the interest of your target group, you need to hold that attention, which is much easier said than done. What every business wants is a person who comes back again and again and goes from a one-time buyer to a loyal customer. Without a doubt, the easiest way to do this with positive ROI every time is through intelligent marketing through social media.

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The goal of keeping a customer interested is best achieved through creating quality, interesting content that provides incentives for repeat purchases. This can be done through Facebook, Twitter, blogs or any way that your customers can keep updated with all of the latest news from your company. It’s important the content you post to these sites provide not only quality information, but that this info is up to date and fresh to make the customer want to be informed.

Such things can be done through several ways:

1) Make the customer feel special. Offer coupons or discounts that only followers of your social media account can use. If you make them feel like they’re part of an exclusive club, you make them feel like they personally matter to your company.

2) Use your channel to provide customer service so that consumers have to go through your site to find the answers to any questions they may have. Not only will that up your traffic, but also the chances of their eye being caught on a passing deal or incentive they wouldn’t have otherwise seen creates an opportunity for them to stay interested.

3) Instead of starting a marketing campaign for a new product on the general public, focus first on the customers you’ve already reached. Who better to want to buy your next product than the very people who have previously had a connection to your brand and were happy with their previous purchase! The more product a person buys from you, the greater their loyalty becomes and the more they’ll come running back for more.

MavenSocial employs these tenants in our social media campaigns, and in building social CRM’s for our clients (read more about Social CRM’s here).  When building a loyalty program, we ensure that the loyalty customers feel and understand that they are an integral part of the company’s pulse, while encouraging them to share other offers with their friends.  There is nothing like the personalized touch of a friend-to-friend brand share.  Loyalty members become the company’s brand advocates, and continue to do so because we first treat them so well (and continue to).

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It’s all about attracting, and holding your loyalty member’s attention.  If you can achieve that, you’ve found the secret sauce, and here at MavenSocial, we believe we have,


And with that,

Sarah

23
May

Businesses and Social Media Influencers Working Together

Who are social media influencers and more importantly, what do they have to do with business?  With the Age of Social Media, as with others, industry jargon abounds.  Take note: social media influencers are not simply an industry phrase, they are changing the way that companies market and sell themselves, and thus their products.

A social media influencer is an individual (usually a blogger) that has a large social following online. With such a wide reach, this person has the ability to influence many followers by altering their feelings and decisions. Companies or other individuals that want to sell a product or service may be interested in utilizing the influencer to help get their name or product not only recognized, but also gain positive industry and brand reputation.

What do you think when you see the Taco Bell Chihuahua? Fun-loving, quirky, and overall memorable (“Yo quiero taco bell?”), that brand association did not come naturally – it was intentional and repeated, like a chant.  Social media and its influencers provide positive brand association and notoriety, but for far less than a nationwide television campaign.

In the past, traditional marketing only allowed for a one way message, from the business to the consumer. Now, with the new ways of digital marketing a message that is passed from the business to the consumer, will be spread to many other individuals through an influencer.

The other big change from traditional marketing to digital marketing is that companies can now hear the voice of the consumer. A social media influencer has the potential to influence the decision a company makes. They not only speak to the people but they can also act as the voice of the people. If a television show plot is not speaking to it’s watchers, and they are complaining  about it online, the producers have the ability to tweak the show to better fit the watcher’s expectations. If a new flavour of  Coca Cola (Coke) comes out and Ontarians dislike the flavour, Coke can decide not to sell that flavour in Ontario.

MavenSocial identifies and tracks these influencers.  With our analytics dashboard, we are able to see who is the top influencer for each campaign we run.  This allows us to engage these influencers throughout the campaign, and long afterward.  Engagement does not stagnate after a campaign finishes, rather it lives on through the people who chat about it online, in the grocery store, or at your work baseball game.  MavenSocial maps and engages these influencers for the brands benefit.

An influencer can be found  through review websites, blogs, YouTube, Twitter, Facebook, and other social media outlets. Companies need to take note of what these influencers and followers are saying because social media is changing the way customers do business. If they don’t pay attention, they run the risk of losing customers to competition.

A company can also have a voice online. They can have an individual write on their behalf online to talk about and answer any questions about their service or product. This person can also be labelled as an influencer. This works quite well for electronics companies. If people have a question with, let’s say, a dslr camera, the individual speaking on the company’s behalf can answer any questions or suggest solutions to any problems. The two way communication back and forth between customers and companies has never been this advanced.

Take the opportunity to become influential online. If you are a blogger, use your influence to help businesses make important decisions. If you are a business, work with a blogger to get your name, product or services out in the open.

Until next time,
Amanda

28
Mar

The Power of Peer-to-Peer Sharing (Digital Marketing)

Yesterday, we conducted a webinar on peeer-to-peer sharing.  In the webinar we discussed:

1) Peer-to-Peer advertising (Digital) vs. Traditional advertising

2) The importance of peer-to-peer sharing via social media

3) Industry examples
a. Procter & Gamble
b. Nike

Some of the highlights:

Traditional Marketing:

Traditional marketing is TV, radio, and print (newspapers, magazines).  For the most part, traditional marketing is a forced type of

Traditional marketing is dying!

marketing.  Users of these mediums are looking for passive interaction.  Personally, when I watch TV, I am there at the end of a long day, desiring to relax and shut my mind off for a few minutes.  Basically, I’m there to read, listen, or watch.  In comparison, the objective of an advertisement is to get people to take action.

There is a contradiction of roles. People use TV, radio, and print to relax, while advertisements want people to take action.

The advertisements interrupt the viewer’s focus.  If anything, it is an annoyance more than anything else.  As a result of this, the average conversion rate, or rate at which people take action from traditional marketing is 1-2%.

Ouch.

Peer-to-Peer Sharing – Digital Marketing:

Digital marketing is about creating and fostering relationships with people.  Digital marketing is connected through its relationships with people within their sphere of influence. MavenSocial is able to track social media influencers through our dashboard analyics.

There are two types of Influencers:

1) Mass Connectors: create a number of impressions about brands and services in social networks, like Twitter and Facebook.

2) Mass Mavens: create and share content about products and services in other social channels such as YouTube, blogs, forums, o ratings and review sites.

These two types of people combine influence, trust, relevance, and scale to create powerful advocacy.

The influencers provide a high Return on Investment (ROI) because they produce Social Lift, or free traffic to a campaign.  With MavenSocial, we are able to track social media influencer’s shares with their peers, allowing us to better understand who are the campaign’s (or more importantly BRAND’S) social media influencer.

Digital Marketing vs. Traditional Marketing.Digital Marketing creates more connections and higher conversion rates.

Procter & Gamble: Old Spice campaign

Procter & Gamble has received a lot of press coverage over their $10 billion annual add budget, but with the introduction of digital marketing, P & G is announced that they will be laying off 1,600 staffers.  When asked about digital marketing, CEO, Robert

Old Spice commercial, example of P & G successful digital marketing campaign

Old Spice commercial, example of P & G successful digital marketing campaign

MacDonald told Wall Street analysts that he would have to “moderate” his ad budget because Facebook and Google can be “more efficient” than traditional media.  MacDonald then went on the say that “in the digital space, with things like Facebook and Google and others we find that the Return on Investment of the advertising, when properly designed, when the big idea is there, can be much more efficient.

For the Old Spice campaign, P & G expected 3-5% growth for Old Spice body wash, but actually experienced 38% growth.  Old Spice could not meet demand for their product, thus shelved remained un-stocked.  The overall campaign results saw Old Spice saw their brand channel #1 on YouTube, and the #2 most subscribed to.  There was also 3,000% growth to their Twitter account, and close to 300% growth in traffic on oldspice.com!

Nike Digital Sport:

Nike Digital Sport is a new division of Nike, whose goal is to develop devices and technologies that allow users to track their personal statistics.  An example of their latest product release is Nike+ running sensor. There are now 5 million runners that log on to Nike to check their performance. This is all part of Nike’s plan to adapt their marketing strategy towards digital marketing.  Their bottom line goal is to build an online community to connect and engage consumers.

Nike’s shift to digital marketing is the biggest change since the creation of “Just Do It” or since a graphic design student at Portland University created the Swoosh!

Nike Digital Sport - Nike+ products

Nike Digital Sport - Nike+ products

Overall, Digital marketing is quickly over-taking traditional marketing as the best way for brand’s to create awareness, engagement, and see proven ROI on their marketing campaigns.

For the webinar presentation, check out the links below!

PDF version:

MavenSocial Webinar: Peer-to-Peer Sharing

Slide Presentation:

MavenSocial Webinar: Peer-to-Peer Sharing

22
Mar

Social Media and the End of Gender

Recently, I was watching a TedTalks,  Johanna Blakley: Social media and the end of gender.  Blakley claims that social media is going to help us dismantle stereotypes that we see in traditional media.

Traditional Media

Most media companies use rigid segmentation methods and  strict labels to define us.  Media companies believe that if you fall in

Traditional vs. Social Media - Social Media and the end of gender.

a specific category, you are predictable in certain ways. You have certain tastes, and like certain things – popular culture is largely based on these presumptions.  In traditional media, the older age demographic of 55-64 are not even taken into consideration, it is as if they do not exist!

Social Media

We are able to define ourselves online.

Social media allows us to connect with people based on our specific interests.  Companies realize that THIS is the mass audience of the future, but they are having a hard time acting on this knowledge, because they are using the traditional demographics.

While companies are monitoring our movements online using social media, they are now identifying our interests, instead of guessing at them through demographics.  What are they finding?

Women are driving the social media revolution.

In every age category, women out number men in their use of social networking technologies.  Social media is having a huge impact on traditional media – could this mean that heading into the future, women are going to take over global media?  Will our media landscape become a feminist landscape?  Not necessarily.  Instead, women will be hired on in advertising companies and put an end to stereotyped demographics (i.e., the Hispanic female between 18-24 likes big earrings, bright red lipstick, and fake nails, etc.).  We will now know what people like to do, no guess work required.

 
Through our social media analytics software, MavenSocial is able to do just that, identify brand influencers on a campaign.  We  are able to connect a person’s email account with their social media networks, therefore giving a 360° account of the person’s social media presence, identifying what they like through their choices (i.e., what campaign do they enter?  One that offers coupons on free cooking lessons, sky-diving, or a free week at camp?).  Guess work is now a thing of the past.  Heading in the future, will brands continue to pander to traditional demographics, or will they acknowledge that social media is the source for brand ROI? With Facebook and Twitter’s membership comprised of 50% women, the female population continues to dominate social media.  As a result, women will continue to be a valuable audience and target for marketers.  As social media evolves it will be interesting to see how advertising and marketing adapts to these rapid changes.

20
Mar

MavenSocial Case Study: Canadian Tire Financial

Canadian Tire Corporation is one of Canada’s 60 largest publicly traded companies.  Canadian Tire have services such as retailing hardgoods, apparel, petroleum, financial and automotive services.  MavenSocial ran a campaign with the financial arm of the firm – Canadian Tire Financial.  The campaign objectives and results are below:

Client:

Canadian Tire Financial

Objective:

Build a database of credit card customer emails and email database of non credit card customers.

Canadian Tire Share & Win campaign, an example of Social Lift & Social Media Influencers at work!

Solution:

Influencer recommended a micro-site with access to store coupons, a contest with extra entries for sharing.

Read more »

14
Mar

FREE Webinar: The Power of Peer-to-Peer Sharing

Understanding Value

Ever wondered why your business’ ads do not receive the response you expected?

Free Webinar - The Power of Peer-to-Peer Sharing!

On Tuesday, March 27 at 11:00am EST join us for our webinar on Peer-to-Peer Sharing, and discover how your business can encourage brand interaction and proven ROI.

 

We will show you:

1)   Peer-to-Peer advertising vs. Corporate advertising

2)   The importance of peer-to-peer sharing via social media

3)   Real Case studies, with proven peer-to-peer advertising ROI

 

Join us for our webinar on Tuesday, March 27 at 11:00am EST to discover how your business can spark brand interaction and increased ROI!

12
Mar

Social Media Influencers and the Death of the Marketing “Bowling Ball” Effect

In the past five years there has been a marketing reset in the marketing industry.  Marketing is evolving into a digitally focused entity, where it is becoming as much of a science as it is an art.  While emotion can still be an asset to a marketing campaign, the results can be hard to track.

The Age of Digital Marketing. Marketing is all about Data!

In a client meeting last week, we had an interesting discussion with the Senior Vice President of a Fortune 100 company.  He explained that he was looking for a new marketing solution for their company that would address their need to identify their brand influencers in order to increase sales.  They also have a client network list that they would like to connect to their social media accounts (millions of names long).  As a result of the extensive changes in marketing in the past five years, he said that their company did not know how to market in the digital age.  They wanted to find a way to increase their client network list, as well as identify the influencers within this network, thus encouraging brand sharing to increase sales.

 

In the Past – the Bowling Ball Effect:

Marketing success depended on the size of your ball, your strength, and how far you could throw it.   Marketing was not about precision analytics; it was about having the biggest ball to throw into the crowd of unidentified potential customers, hoping for the best.  There was no way to track who influenced people to buy the product or service.   The assumption was that if a campaign had taken place during the same time period there was a spike in sales, it “must” have had “something” to do with it – thus making the campaign a “success”.

With WhiteFire Social, software powered by MavenSocial, we are able to track a brand’s influencers and social media influencers,

We are in the Age of Digital Marketing. With WhiteFire Social, identify your brand's social media influencers.

measuring the effectiveness of every dollar spent on a campaign.  Using WhiteFire, we see the Social Lift (free traffic to a campaign) to a campaign increase anywhere from 100 to 500% (check out our Canadian Tire case study).

In the age of social media marketing, companies need to have a strategy that is based on precision.  Marketing is becoming a targeted pursuit of customers, as opposed the Bowling Ball Effect of mass marketing. The SVP of the Fortune 100 company we spoke to explained that they did not have a precision strike on marketing anymore.  As a result of their lack of digital marketing strategy,  they came to us for an answer that could help them identify their brand influencers.  Marketing has gone digital, and is now scalable and measurable – does your company know how to navigate these new social media waters?

Check out our case study on Girls Night Out Wines to learn more about how MavenSocial identifies brand influencers.