Were you that kid on the corner selling lemonade … at 4 years old? Or how about being an 8 year old making a fortune out of selling your love of marbles online. No matter
EXPERT DIY TIPS How to turn your Social Media Fans into Customers?
We all know Social Media is a way to get more fans. But whats the point of fans if they don’t convert into revenue that allows for your business to prosper?
Good social media is more then 140 characters of “what your are doing”. It’s involves having a valuable conversation that your customers are involved in. It in turn creates a connection that people will often follow up on with their time and/or their wallets. Depending on what your “wallet” is, your social media measurement of success differ.
The first step is to have a program like Google Analytics or Adobe Social Analytics to measure your traffic in conjunction with your companies online activity. The second step is to know the different return on your social media investments – Sales, Brand Awareness, Attendance or Popular Opinion.
Increase in Sales: For Warners Bros Music, they used Bruno Mars as a casestudy to show how his Video Music Awards tribute to Amy Winehouse tweet drove 170,000 social media mentions. They then charted how that social media spike was echoed, the following day with 159% increase in visit to the artist’s website and a 302% increase in orders.
Increase in Brand Awarenes: For a store like Walmart they courted mommy bloggers by flying them to its Bentonville, Arkansas headquarters and letting them test new products which then hosted a blog and YouTube channel. The effort appear successful for Wal-Mart, whose YouTube channel amassed more than 16 million views and become No. 16 in monthly viewership on the site. You can’t really track from these 16 million people who went to Walmart over lets say Kmart but 16 million is 16 million!
Increase in Attendance: For fashion stores, Foursquares has been very successful in getting customers in the door. During a one-day event at Diesel’s flagship store in New York, Foursquare users who checked in within a three-city block radius of the Union Square location were alerted of a special promotion at that store. Once they checked in to the Diesel venue, they had their choice of specially printed tee shirts in red or purple.
Increase in Positive Online Opinion: Using Facebook, Audi posted videos of their design process and solicited questions and feedback to find out what the 300,000 fans would like to see in a car of the future. After its “Youth Mobile 2030″ design challenge, they found that 85% of all opinions on social media about Audi (GR) were positive over the last 12 months.
There are no “best practices” for measuring a successful social media campaign. Online behavior is dynamic and context-specific, and it is difficult to build a “one size fits all” solution. However a clear understand of what your ROI is like Sales, Attendance or Popular Opinion will allow you to structure an approach to capture, measure and analyze your social media efforts.