Turning a Social Networking Presence into Revenue
Wednesday, 06. 17. 2009 – Category: T2 Communications
Today there are hundreds of social networking sites available. Facebook, Twitter, LinkedIn and MySpace are just a few at the top of the pile today. Soon, the hierarchy will evolve as the next wave of applications becomes available and vies for our attention. And while many of these exciting applications target the end user, businesses are always looking for ways to utilize these social sites to advance their sales. But how do you turn things like tweets (a message on Twitter) into real money that shows up on your bottom line?
Is It Worth It?
The excitement of social networking applications can sometimes cloud our thinking when it comes to connecting with customers and prospects. Even when correctly implemented, a presence on social sites can severely drain resources while not improving sales. Social networking sites are simply another tool that can be used to enhance your brand. And like any marketing device, they are not bulletproof and they shouldn’t be your only marketing strategy.
As a result, it is imperative that you know what you are trying to accomplish before you try to understand what these technologies can do for you. Many businesses are finding this out the hard way, spending time and money on platforms that never end up translating to sales. In the meantime, many other companies remain very successful without requiring these applications at all to interface with customers and prospects. They instead use what some might call antiquated social techniques (phone calls and face-to-face networking anyone?) to boost their sales at staggering rates. How is that?
It comes back to the classic advertising rule—“Your message needs to be where your customers and prospects are.” Remember, even if you have a presence on every site imaginable, you may still be missing a significant portion of your audience. There are still many people that have not attached themselves to these platforms and prefer to do business the old fashioned way. Others may not be interested in following you because they only use the applications for personal interaction. However, if you can find platforms that already connect with your target audience, applications like these can be very beneficial to advancing your marketing campaigns.
What’s the Message?
If you have identified that social networking platforms could help you better connect with customers and prospects, then you need to craft a message to deliver to the customer. Unlike an end user, posting random thoughts and messages may not reflect well on your business. Remember, it is a marketing campaign. Therefore, it needs to be an extension of your corporate brand that helps deliver business.
Some businesses choose to develop content to share with followers in an attempt to position themselves as an expert in their respective industry. This is a great tactic, if you have the time, money and ability to produce content on a consistent basis. But there are other more practical ways to use these applications to enhance your brand awareness and directly drive business to you. Here are three easy ways to use current social mechanisms to improve your relationship with customers:
Promotions: Everyone loves a deal. Coupons and specials are welcome offerings on social platforms, and the speed by which you can deploy them is an advantage to your business. Plus, there’s usually no cost. You can also consider offering site-specific or limited time offers to encourage followers to pay attention to a specific platform.
Instant News: Expanding to a new location? Hosting an event? Launching a new product? Social sites can immediately spread the word and keep everyone attuned to the pulse of your business. Plus, traditional news sources are finding sites like Twitter to be reliable news sources for breaking stories.
Last Minute Updates: Experiencing a trouble issue with a product? Do you need to cancel an event at the last minute? With so many wireless devices connected to social site accounts, your last minute changes can get out to the intended parties when they need to hear from you most.
Social sites are by no means a miracle cure for your company’s marketing. However, when blended with traditional advertising and networking opportunities, present a great platform to strengthen networks and share your company’s story.
David Fleming is the Director of Corporate Communications for T² Communications, a CornerWorld company.
Tags: advertisers, applications, David Fleming, Facebook, LinkedIn, marketing, MySpace, sales, Social Networking, Twitter