The most talked about thing when companies decide to go with Social Media is “What is the return on Investments with Social Media?” The answer to the question is basically what results companies are looking forward to when they decide to implement Social Media.
Social marketing works on a three tired approach of Grow, Engage and Monetization or rather you could say there are 3 pillars of Social Marketing which determine the success or failure of any Social Media Campaign. Each of these phases have their unique importance, we have present to you some ways by which you can be successful in each of these phases.
The Grow phase is the first phase in the Social marketing cycle the goal in this phase is to get maximum fans as a brand. The important thing while trying to acquire more and more fans is to understand what they are looking for from your brand or rather what would attract more people towards your brand. The basic expectations of an Internet user before becoming a fan of a brand are:
In order to be successful in this phase it’s important that as a brand you understand what your fans are looking for and more importantly keep on delivering the same through out. As said above fans like sharing their unique experience with their friends about the brand they are part of. One of the ways of promotion is putting a user generated content through Social networks. Each Social network allows this option. For example a Tweet by a new fan could just help attracting more of his friends towards your brand if promoted properly. This helps in increasing scalability and promoting digital word of mouth.
The most important this during this phase is to make sure that the marketing theme across the various Social networks is one so that users can easily identify it and the growth is uniform across all the Social channels.
Engagement is the most critical phase in the 3 phases. Many times it is observed that brands spend a lot of time in growing their fan base assuming that once fans are in they will automatically start a conversation. However lack of proper engagement always results in less word of mouth and in turns it affects the next phase as well as brand awareness and advocacy.
Engagement helps in recommendations and its already known fact that 90% of internet users are ready to buy a product recommended by their friend. Social Networks today allow users to tell who they are what they like what their area of interest are using these statistics its important that as a brand you chalk out a proper strategy to communicate with your fans There are many brand who have had successful engagement strategies which has resulted in eventually getting the customer into the buying mode. Target and Starbucks are two names which come instantly into the mind when we talk about Engagement campaigns.
Once growth and engagement are achieved the next phase in monetization. There is not much to do over here if the first two phases are done properly. However few things to be remembered while approaching this phase are
Offer exclusive deals to fans that they may not get elsewhere. Provide options in your selling initiatives that will attract more fans for example their brands who offer their fans products once a month which are not available on a daily basis on their website. These exclusive offers are provided once a month on specific days. Provide meaningful and personalized experience by using demographic profiling.
Hopefully these tips should help you structure your Social Marketing cycle and eventually drive more ROI.