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Posts tagged ‘Social Media Marketing’

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

18
Jun

Social Media – A Catalyst for Change

Last week I downloaded the book We First by Simon Mainwaring, and have been inspired by his writing! Mainwaring talks about the current Capitalist system, and how it is an archaic, eroding system.  This system must be changed, according to Mainwaring, if we are to learn from the lessons that the “Great Recession” has tried to teach us about the shortcomings of North American Capitalism.  Basically, “We First” is the opposite of the Capitalist “Me First” mentality.  Where I find Mainwaring’s philosophy interesting is the intersection of a new economic and fiscally responsible governing system, and the power of social media to help enact this change.

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15
Jun

Are expanded tweets really an asset?  I thought that short and sweet in 140 characters was the charm of Twitter?

Gigaom

As we reported on Wednesday, Twitter is in the process of rolling out what it calls “expanded tweets,” a new feature on both the web and mobile version that shows additional content for certain publishers and services, such as the New York Times and ABC News. In some ways, this could be seen as a lifeline for media companies, as my GigaOM colleague David Meyer argues, since it theoretically exposes their content to more potential readers — but at the same time, Twitter is clearly trying to use that content to keep more people inside its apps and on its site. As with Facebook and Google News, the new feature could be both a benefit for media companies and potential competition in the battle for users’ attention.

The feature, which is only available to some Twitter users right now, is actually an extension of something the company first launched…

View original post 863 more words

12
Jun

Free Webinar: How to Make Paid, Earned, and Owned Media Work for You!

This month MavenSocial is having a webinar on How to Make Paid, Earned, and Owned Media Work for You!

Please join us on Tuesday, June 26 at 11:00am EDTto learn more about how these three types of media can exceedingly

MavenSocial Webinar on Paid, Earned, and Owned Media: June 26, 2012 11:00am EDT

benefit you, especially when you understand how they effect your company!

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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

21
May

The Power of Social CRM & Why You Need it Now!

If you don’t call your grandma on her birthday, you won’t be getting any Christmas presents. If you haven’t talked to your friends in 5 years, they won’t come to your party. If your girlfriend likes mojitos and you give her a long island iced tea, she won’t be very impressed. Maintain your relationships! Understand your customer’s needs! Customer Relationship Management, also known as CRM, is the management of a company’s interactions with potential clients and customers. The purpose of efficiently managing the company’s interactions is to capture and keep new client relationships, retain current relationships, bring back former clients and reduce costs.
This not only benefits the company but the client as well. The clients will start to get products and services more tailored to their needs. You can be linked to customers, but if you don’t maintain those relationships, and you don’t fully understand their wants and needs, then those customers will be lost to you. If you know what a certain customer likes and dislikes, you can offer them products and services very specific to their lifestyle.

These are the many benefits to CRM:
* better quality and efficiency
* a decrease in overall costs
* decision support
* enterprise ability
* customer attentions
* increase profitability
* improved planning
* improved product development

Another aspect of a Social CRM is Customer Service Analysis, also known as CSA, is the gathering of customer data and their relationship with the company. The purpose is to improve sales, better the service and/or lower costs. There are many different aspects of CSA depending on what you are looking for.

Complemented by CSA, Customer segmentation grouping is dividing customers into those most and least likely to repurchase a product. A profitability analysis finds out which customers bring in the most profit over a certain amount of time. Personalization is marketing to customers based on the individual data collected about them. Event Monitoring is knowing what dollar amount the customer has reached with his or her purchases. What-If scenarios are how likely a customer that bought one product will purchase one similiar to it. Predictive modelling is choosing the right product plan based on what we already know about the customers.

While these information and database collection tools are commonplace in many marketing firms, what is different about Social CRM is that it is online and utilizes social media.

Offline CRM tools are applicable in an online forum, such as online questionnaires and contests, and social media sites such as Facebook or Twitter. Social media forums are are great way to collect demographic information. One can determine whether a person is male or female, their age group, interests, lifestyle, whether or not they have kids…the list goes on and on. These things hugely impact the decisions a company makes.

If there are a lot of coffee drinkers in Waterloo let’s put a Tim Hortons in that area. If there are a huge amount of males in Brampton, let’s decide not to put in several shoe stores targeted to women. An elderly couple with no kids would not get any use out of the backyard playsets you are trying to market, so don’t waste your time and money trying to contact them.

So the point I’m trying to make is… call your grandma on her birthday and you will get Christmas presents. Just kidding (kinda).

Make sure you maintain a good customer relationship through Social CRM. That way you can have better and more productive customer relations in regards to sales and service. You will also be able to keep a lower inventory and a faster delivery which lowers cost and allows for more competitive pricing.

Until next time,
Amanda

18
May

Pin Me My Interests, Pinterest – for the Whole World to See

Social media is taking over the world. Okay, well maybe not the whole world, but an important chunk of it is now being taken over by this relatively new and increasingly important industry. Through the use of social media, the power of relationships between businesses and consumers are becoming invaluable as a way of marketing products and brands towards their potential customers. Through sharing and retweeting, the marketing goal for many companies is how their loyal customers will influence friends and family to also become interested in their products and have incentive to buy.

Pinterest

Pinterest is a great place for companies to gain demographic information from their market.

The fatal flaw in this way of thinking is that the company is assuming that if I buy their product, for example a tent for camping, that the people around me are also going to want this type of item and others like it. The problem is, I’m the only person in my group of friends that enjoys camping and no matter how hard I try, I can’t get my (happily) city-dwelling friends to come out for a fun weekend in the great outdoors. So my realm of influence is rather small, as I don’t have anyone to share these particular interests with. However, what if there was a way that I could connect with other people who share my love of camping and still be involved in other mutual interests with my current friends group?

Enter in Pinterest.

Since its inception two years ago, Pinterest has become the fastest growing website in history, allowing its users to create virtual pin boards filled with pictures of products and photography representing their interests, hobbies and inspirations through uploads of their own favourite product pictures or repins from other users who share the same common interests.

This represents a gold mine for the potential marketer because now instead of having only reached little old me from my sale, they now have all of my fellow camping fanatics following my pinboards closely; chances are, with more than 80% of pins being repins, they will definitely rack up more interest through sharing than through any other social media site. Not only are major corporations starting to take notice, it is now predicted that in five years time 40% of social media based revenue will come from Pinterest users. Currently, Pinterest users are already 10% more likely to buy something they have pinned on their boards, and are 10% more likely to spend more to get that item.

Last week Kotex launched a Mother’s day campaign in which they found and reviewed the pins of fifty inspirational women, then had the most pinned brand send the woman a virtual gift. If the woman repinned the gift she ended up getting the real gift in the mail as a reward. The reward for the brand who sent the gift? Almost all of the women who received their gift acknowledged it not only through Pinterest, but through Facebook, Twitter and Instagram, creating 2,200 social interactions in total. Now that is what I call intelligent and innovative marketing.
And with that,
Sarah