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Social Marketing

Whether you are a Twitter and Facebook junkie, or you think this social media thing is the craziest fad that has ever swept the planet, it's impossible to deny the unbelievable growth and reach of social marketing. Did you know it took TV 13 years to reach 50 million users, while it took Facebook less than 9 months? That kind of growth spells only one thing - opportunity.

There is unprecedented opportunity right now to reach audiences and communicate with potential customers through social marketing. The key is taking the time to understand this new method of communication for businesses and to execute based upon a clear strategy. You can jump on Twitter right now and start tweeting about getting your car washed this afternoon, but that isn't going to bring you results.

A New Method of Communication.

Think of social marketing as having a cocktail party or a business networking event online. You don't want to be the obnoxious person at the event who is going around shoving a business card in every hand you pass and shouting out your 30 second commercial to everyone you meet. The etiquette rules of social networking work in exactly the same way! It's about building relationships and having a real conversation, not trying to "make a sale". The old rules still apply here - people like to do business with people.

If you approach social marketing in the right way (this is where Seeker New Media can help), it can bring countless benefits and opportunities to your company:

  • Develop deeper relationships with your customers
  • Build customer loyalty and retention
  • Establish your company as the industry thought-leader
  • Build your brand recognition
  • Gain valuable insight into what your customers really think about your business, before it becomes too late to do anything about it
  • Recruit talented employees to work for your company

But How Can Social Marketing Be Monetized?

Tracking the ROI on social marketing efforts is a common topic presented to us by fiscally responsible companies who want to ensure their marketing dollars are being put to the best use. Frankly, it's a tricky question and it's something many large companies are still working to figure out. Here's our 2 cents on how you can justify the ROI in social marketing.
To understand the ROI, you really have to see social media from the lens of building your brand, communicating with your customers and building strong customer loyalty. This will ultimately lead to more sales and higher profits, as it is five to seven times more profitable to retain an existing customer than to attract a new one. You will also spend far less money on recruiting and end up attracting a higher caliber of talented employees. All of which ultimately flows right to your bottom line.
For another perspective, see this interesting article on How Dell Makes Money on Twitter.

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