How Social Media delivers on the MaxiMarketing Model?<br />A Salt Social Presentation<br />
REACHING <br />THE <br />PROSPECT<br />DEVELOPING THE RELATIONSHIP<br />MAKING <br />THE <br />SALE<br />MAXIMIZED DISTRIBUTION / Adding new channels<br />MAXIMIZED SALES / Share of mind and customer database<br />MAXIMIZED LINKAGE/ Encouraging interesting prospects<br />MAXIMIZED SYNERGY/ Double-duty advertising<br />The MaxiMarketing Model<br />MAXIMIZED ACTIVATION / Inquiries and sales promotion<br />MAXIMIZED AWARENESS / Appealing to the whole brain<br />MAXIMIZED ACCOUNTABILITY / Proving that it works<br />MAXIMIZED MEDIA / New ways to reach the customer<br />MAXIMIZED TARGETING / Prospecting for your most desirable customers<br />
1. Maximized targeting<br />The ideal selling process begins with the traditional step of learning as much as possible about your prospect. But it includes, wherever desirable and possible, a prospect database that allows you to approach your target prospects as individuals.<br />The database ideally contains not only the names and addresses of likely prospects but also a number of other bits of revealing information about each prospect.<br />How Social Media delivers Maximized targeting?<br />The Social Graph now allows you to target an audience based on their<br />Location<br />Demographics (age, birthday, gender, sexual orientation, relationship status, languages you know)<br />Likes and interests<br />Education-level and educational institutions<br />Places they’ve worked<br />Connections and Affiliations<br />
2. Maximized media<br />In pursuit of your rapidly moving, ever-changing target, you will want to examine carefully – and to explore as your budget permits – the dazzling, almost bewildering options which are either available now or soon will be.<br />But you will want to keep this exploration under control. Most media tested should be held directly accountable and made to prove their value.<br />How Social Media delivers Maximized media?<br />We wouldn’t be too far from the truth when we say that the amount of content generated through social media each day is more than the amount of television content ever aired or the amount of text ever published in print. Also, the amount of time spent by consumers on social media has crossed other mainstream media.<br />While the number of options is huge, there are readily available tools that can help you tabulate performance across different social media channels.<br />
3. Maximized accountability<br />Until recently conventional wisdom for general advertising dictated that media be evaluated by the advertising cost per impression and readership studies, and copy by audience opinions and recollections by artificial stimulations of the marketplace. <br />In the increasingly fierce competition for customers, the winners will be those who make their advertising expenditure more accountable. They will evaluate and rank media and media buys by the proven advertising cost per prospect response or purchase.<br />How Social Media delivers Maximized accountability?<br />Social media marketing is performance-based marketing. You can choose to advertise without worrying about overshooting your budget. The options available are:<br />Cost per Impression<br />Cost per Click<br />Cost per Lead / Cost per Acquisition<br />And yes, A/B testing is a breeze on social media.<br />
4. Maximized awareness<br />Stimulation of favourable awareness is common to all advertising since prospects can’t buy your product or service unless they are first made aware of it. But a great deal of awareness advertising suffers from a high degree of misguided creativity. MaxiMarketing addresses the need to maximize the impact of awareness advertising by giving more careful attention to the duality of human thought process.<br />How Social Media delivers Maximized awareness?<br />Unlike traditional advertising, social media marketing is interactive and it requires a more human approach. Reaching out to prospects via social media is like building a one-on-one relationship. And like any relationship between human beings, it is built over time and there are moments that engage the left and right side of the brain.<br />
5. Maximized activation<br />Activation includes but is broader than sales promotion. Activation simply means making something happen by means of your advertising. That something might be a purchase, or it might simply be taking the prospect a step closer to the purchase by asking for some specific action.<br />There is a growing consensus that a great deal of activation aimed at promoting retail sales is merely wheel spinning. Frequently, sales promotions cuts into profit margins on sales to loyal customers while failing to win new customers.<br />MaxiMarketing calls for applying the same stern yardstick of efficiency and accountability to promote activation in advertising as well as to gain awareness in advertising and to target the prospect.<br />How Social Media delivers Maximized activation?<br />‘Become a Fan / Likes’ on Facebook;‘Follow us’ on Twitter – are the new activation methods on Social Media. And they don’t eat into your promotion budgets repeatedly.<br />
6. Maximized synergy<br />By making your advertising do two or more jobs at the same time, you can achieve a synergistic explosion of energy and profitability. You might simply add new twists to the familiar concept of combining awareness advertising and sales promotion. Or you might combine your message with that of a compatible fellow advertiser to share the cost.<br />How Social Media delivers Maximized synergy?<br />Social media leverages the wisdom of friends/connections – thus making for very compelling content for your audience. Thus when the friend of a prospect ‘likes’ your brand and makes it known to their friend, there is maximized synergy – in this case between content and advertising consumption.<br />
7. Maximized linkage<br />Too often, awareness advertising leaves the prospect dangling, with no idea of what to do next, where to buy, or how to obtain more information. At the very least, the ideal advertising and marketing process should bridge the gap between the advertising and the sale by offering – and providing – additional information. We call this “linkage.”<br />How Social Media delivers Maximized linkage?<br />The interlinked nature of the Internet and Social media implies that every communication is accompanied with a call to action – a click which leads to some sort of activation. Thus, maximized linkage is an inherent feature of social media.<br />
8. Maximized sales<br />MaxiMarketing does not end with the first sale to a new customer. What happens after that sale can also have a profound effect on the bottom line. <br />MaxiMarketing adds something new to the picture: a customer database – a powerful new marketing instrument. You have a private advertising medium you can promote for repeat sales. And you can begin to apply the magical concept of lifetime customer value (LTV).<br />How Social Media delivers Maximized sales?<br />Facebook fan page & your Twitter follower list is your own private communication medium.<br />Regular updates to fans on Facebook and followers on Twitter ensure that your brand is always on top of their mind.<br />Not only can you maximize sales from this network but its interactive nature can allow you to test ideas, take feedback on new launches, and generate referrals.<br />
9. Maximized distribution<br />How can your company continue to grow when you retailers refuse to offer you any more shelf space? Or your personal-selling agents can’t find or get appointments with enough new prospects? Or your mail-order catalog is swamped by a horde of competitors in the mailbox?<br />Many companies have found the answer in opening up a new channel of distribution. This may involve using a database built from your present customers, using the share of mind built up in one channel to support another, or using some other advertiser’s database.<br />How Social Media delivers Maximized distribution?<br />Social media allows for direct communication and so the distribution problems of traditional media aren’t encountered.<br />Also, social media has a distribution mechanism built in from the beginning (Share & Re-tweet) – so your existing database itself can distribute the message further among their network.<br />
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