Does your business have a social media strategy in place? What is it?
To increase customer retention? Increase sales? Decrease lead acquisition costs?
I read a statistic today and I’ll try to find the link but it is important for you to know that only 50% of companies have an actual social media strategy or social media plan in place. And even LESS are measuring the results or ROI of their social marketing campaigns. Why? Because there is so much customization involved to develop and determine the proper key performance indicators, backwards engineer the campaign, and then establish the tools & tactics needed. Believe me when I say it- social media campaigns are extremely complex & customized around each clients business model and we LOVE a challenge. Something we love even more is when clients get results like winning the San Diego’s best green product installer contest or selling all their tickets for their fundraising event. Simply put, when your clients see results in social media and can measure ROI, they finally see the true value in social media that it can bring to their organization:
1. decreased online advertising expenditure
2. increased customer retention & satisfaction
3. much higher conversion rates than paid advertising
because of the trust factor (through facebook & twitter communities)
4. much cheaper lead acquisition compared to paid online advertising
What type of ROI have you demonstrated for your clients using social media? Are you a business using social media yet? What have been your results? I’d love to hear from you!
Justin “Results” French