Neolane Social Marketing - FAQs


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Neolane Social Marketing - FAQs

  1. 1. Social Marketing FAQs
  2. 2. #1 What are some of the ways that brands are using social media today?L istening – Perhaps the most common use is monitoring, which allowsbusinesses to gain real-time insight into what is being said about theirbrand. This insight is aggregated, analyzed, and leveraged for a variety ofpurposes, including product development, marketing, customer service,etc. A natural extension of listening, many brands also use social media todirectly respond to service and support inquiries.Brand Awareness – On the marketing side, social media sites are commonlyused to build brand awareness, through a combination of games, contests,quizzes, surveys, and community management. Page 1
  3. 3. Acquisition Qualification – As social marketing matures, many brands arenow looking to leverage these channels for acquisition and qualification,using forms, Facebook Apps, and other means to collect and enrichcustomer intelligence. ne-to-One Engagement – Using the rich data available via social media,Omarketers are starting to deliver highly relevant, personalized experiences,including one-to-one messages and content via Facebook Apps, Twitterdirect messages, etc. Page 2
  4. 4. #2 Why do social media present such valuable marketing opportunities?There are three primary reasons why social media sites are so valuableto marketers are:Users – The top social media sites possess enormous user bases. Withmore than 900 million monthly active users, Facebook would be the thirdlargest country in the world. Twitter, meanwhile, has surpassed 500 milliontotal accounts.Engagement – What’s more impressive is how highly engaged these usersare. Facebook has 526 million daily active users who log 10.5 billion minutes Page 3
  5. 5. on the site—each day. Twitter has 140 million active users who send abillion tweets every three days.Data – Lastly, social media creates a tremendous amount of data. Thesesites offer unprecedented insight into customers’ interests, needs, andbehavior—in real time. Acquired properly, this data can be a significantrelevance multiplier for marketers.Charting Facebook’simpressive growthand its march towardsone billion active users(source: iCrossing) Page 4
  6. 6. #3 Why do consumers really like/follow brands on social media sites?The reasons consumers like/follow brandsmay not be what brands or marketers think.One survey1 illustrates the misconception.While consumers ranked purchases anddiscounts as their top motives for followingbrands, these reasons were lowest on the listof why brands think consumers follow them.A Nielsen survey2 further validates consumerpreferences, ranking discounts/special offers Page 5
  7. 7. as the top reason for liking or following a brand, followed by supporting thebrand and receiving news/updates. While motives vary by industry, region,etc., it’s clear that value is expected in exchange for the follow. Page 6
  8. 8. #4 What is the value of a brand’s Facebook “likes” and Twitter followers?Using mass media pricing models, or cost per thousand impressions (CPM),industry pundits have pegged the value of a Facebook “like” at anywherefrom $3 to $136. However, these estimates are theoretical and imprecise,with the real answer being zero—until explicit action is taken to acquire,qualify, and engage fans in a one-to-one manner. As former Forrester Research analyst Augie Ray writes3, “The smart marketer will approach the question of value as if the answer is zero – there is no intrinsic value to a Facebook fan … What’s the value of an email subscriber if the company Page 7
  9. 9. never uses the database for anything? … It is what companies do with fansthat creates value, not merely that a brand has fans.”With consumers showing a clear appetite for discounts and offers, there’san opportunity for marketers to monetize likes and followers by engagingin direct marketing via social media. Page 8
  10. 10. #5 Beyond listening and posting, what are next steps for social marketing?The following social marketing roadmap helps marketers to identify thenext logical progression for their brand:Establish Goals – Brands define their social media objectives, as well as thecriteria against which success will be measured.Build Listen – After establishing their social presence, brands beginlistening and responding to their audiences.Influence – To increase reach, brands implement basic features (e.g. socialforwarding/sharing) and launch mass campaigns via social channels. Page 9
  11. 11. Social Opt-in – Brands identify and acquire fans/followers, and enrich theirprofiles in a central marketing database. Opt-ins can be acquired throughFacebook Applications, web forms, social sign-on, etc. Regardless of themechanism, some value (e.g. games, promotions, access to exclusivecontent/deals) is offered in exchange for information.Engage – Employing directmarketing principles, brandsengage fans/followers bydelivering relevant, personalizedexperiences, including one-to-one messages and content viaFacebook Apps, Twitter directmessages, etc. All messagesand offers are coordinatedseamlessly with other channels,creating consistent cross-channel dialogs. Page 10
  12. 12. #6 How can I use the wealth of data available on social media?Social media sites offerunprecedented insightinto customers’ interests,behavior, and sentiment.Unfortunately, as ForresterResearch notes, “too manycompanies remain trappedby merely monitoring orpassively collecting socialmedia. Few actually reach Page 11
  13. 13. Social Intelligence: driving their marketing and business strategy using thedata that social media creates.”4To achieve social intelligence, marketers must capture social profile datain their central marketing database, integrating it with data from otherchannels/sources to build a single, real-time customer view. This 360-degreeview can then drive intelligent marketing decisions, from segmentation andpersonalization strategies to channel, offer selection, and more.Examples include segmenting influential Twitter followers for a specialoffer; sending Facebook fans a special message/offer on their birthday; aconcert promoter leveraging location and likes to inform users when theirfavorite bands are coming to town; a publisher leveraging likes to cross-promote its titles and authors; a bank sending users who check into a newcity a list of nearby ATMs; etc. The possibilities are virtually limitless. Page 12
  14. 14. #7 Is it ok to capture social media data in my marketing database?Data privacy and security is top-of-mind with consumers and brands alike.Given the sensitivity, marketers may be hesitant about marrying socialprofile data with their traditional marketing datamart. Done properly,however, there should be no cause for concern. Marketers should:Obtain Permission – By implementing a social opt-in, brands can obtainexplicit consent to bring social profile data into the marketing databaseand use it to deliver increasingly timely, relevant, and effective offersacross channels. Page 13
  15. 15. Set Expectations – As with other channels, it’s important to set clearexpectations about what data is being captured and how it will be used.In addition, don’t capture data that’s not necessary to create relevant,engaging experiences.Never Violate Trust – It goes without saying that social profile data shouldnever be bought or sold. In general, always be open and honest and neverdo anything that could conceivably violate consumers’ trust.A Facebook App installscreen, showingexactly what data isbeing captured. Page 14
  16. 16. #8 How should my marketing strategies vary for Facebook vs. Twitter?Social marketing strategies are very much dictated by the media.Twitter – Limited to 140 characters, marketers must be concise and action-oriented, ultimately driving followers to the brand’s website, Facebookpage, YouTube channel, etc. Because of its user base, Twitter is a greatchannel for targeting influencers.Facebook – Marketers have more real estate and options to engage fansdirectly within the platform, including: Page 15
  17. 17. Posts – Can be created and managed like email campaigns, witha subject, image, body, and call to action. There are even basicsegmentation criteria (e.g. country, city, and language). Because fansdon’t frequently visit brand pages on their own accord, posts shouldbe used to drive traffic to Apps.Apps – Can deliver graphically-rich, interactive user experiences thatare fully personalized based on what the brand knows about thevisitor, either via their Facebook profile or data housed in the marketingdatabase. Options include promotions, games, quizzes, and surveys,as well as tabs containing personalized offers and other information. Page 16
  18. 18. #9 What’s the best approach for engaging users on social media?Listen, Test, and Measure – Because every community is unique, socialmarketing approaches must be tailored to a brand’s audience and businessgoals. To determine the right strategy, engage in a continuous cycle oflistening, testing, and measuring.Offer Value for Time – On social media, you compete for your fans’mindshare not only with other brands, but their friends and family. Thus,in exchange for liking or following your brand, they expect immediateand tangible value—from offers/discounts to some mix of entertaining oreducational content. Page 17
  19. 19. Have a Cross-Channel Vision – As Forrester Research says, “Facebookis not an island. It’s as important to integrate it with the rest of yourmarketing as with any other medium.”5 Because consumers interact withbrands via multiple channels, often simultaneously, social media cannotbe managed in isolation. Otherwise, the customer experience—andbusiness results—will suffer. Page 18
  20. 20. #10 What’s the best way to generate social marketing ROI?Many C-level executives believe that social media lacks a measurableROI. That’s because, to date, brands have focused primarily on listeningand community management—activities that are resource-intensive anddon’t contribute to the top line. The secret to unlocking social marketingROI is applying direct marketing techniques to these channels, includingacquiring permission via social opt-in, capturing social profile data, anddelivering personalized messages/offers that drive sales conversions andsustainable long-term relationships. By following this approach, socialmarketing programs will be more in line with consumer expectations (seequestion #3) and ultimately drive more revenue. Page 19
  21. 21. The value of identifying and acquiring contacts from social media into thecentral marketing database cannot be overlooked. Consider the followingexample: if a brand converts 5% of its 2,000,000 Facebook likes intoidentified contacts (assuming 25% overlap with existing contacts), it willgenerate 75,000 net new contacts. Assuming an average value of $20 peridentified contact and an average gross margin of 30%, these contacts willproduce an estimated $750,000 in incremental profit. Page 20
  22. 22. #11 How can I integrate social media with other marketing channels?While features like Share with Your Network (SWYN) or a mobile-optimizedemails might come to mind in terms of blending social, email, and mobile,effectively bringing social media into the marketing mix should be muchmore systemic. That’s because consumers not only interact with brandsvia multiple channels; they exert greater control over the terms ofengagement. In order to keep fickle customers engaged, marketers mustdeliver an experience that is truly seamless and highly relevant across agrowing spectrum of channels.Achieving this seamless experience or dialog isn’t built on individual Page 21
  23. 23. features. It requires an integrated, cross-channel approach to marketingthat’s based on: Single Customer View – To ensure the latest, most comprehensive data is driving offer selection and 1:1 personalization Central Offer Personalization Engine – To fuse inbound and outbound marketing strategies and deliver 1:1 content and offers, independent of channel Seamless Channel Integration – To engage customers and prospects in sustained, 1:1 conversations, seamlessly across touch pointsWith these elements in place, marketers can put the customer at thecenter of the relationship, and orchestrate timely, relevant messagesdriven by their needs, interests, and behavior. Page 22
  24. 24. #12 How can I create personalized experiences on social media?While social media sites have been used primarily as mass marketingtools to date, there are plenty of opportunities to deliver personalized userexperiences.Twitter – Direct Messages (DMs) can be segmented based on numerouscriteria (number of followers, interests, language, location, etc.) and fullypersonalized, including the addition of personalized URLs (PURLs).Facebook – Facebook offers the most personalization potential. On a basiclevel, posts on brand pages can be segmented based on the location and Page 23
  25. 25. language of the visitor. What’s even more valuable, though, is ability topersonalize Facebook Apps. Once a fan subscribes to an app on a brandpage—granting permission to share some of their data—the app contentcan be fully personalized using not only Facebook profile data but datafrom the CRM database (e.g. customer status, loyalty points, etc.). UsingFacebook Connect, the same level of personalization can be extendedto a brand’s website, creating a seamless, engaging experience acrossdigital properties.In addition, there are emerging options for engaging Facebook fans viaone-on-one messages. Once more fully defined and governed, theseoptions could be particularly useful for delivering real-time transactionalor service messages, alerts, etc. Page 24
  26. 26. #13 Are there limitations that could impact social marketing efforts?Perhaps the biggest limitation with social media is how quickly the industryis changing. From Facebook’s frequent iterations to new sites emergingon what seems like a daily basis, keeping pace with social media is likedrinking from a fire hose. Brands need the right people, processes, andtechnology to quickly identify, assess, and adapt to evolving marketconditions, including potentially restrictive changes.Take, for instance, Twitter’s daily limit of 250 direct messages (DMs). Ifbrands are using DMs to send personalized marketing messages, theyneed the flexibility to create business rules in their campaign workflows Page 25
  27. 27. to prioritize recipients and execute messages in waves. Another recentexample was the roll out of Facebook Timeline for Brands, which eliminateddefault landing tabs, forcing marketers to adapt their promotion andcommunication strategies. Page 26
  28. 28. #14 Is social marketing just for B2C companies?Contrary to popular belief, social marketing is not just for B2C companies.In fact, according to one survey6, more than 93% of B2B marketers usesocial media to market their businesses. The same report reveals thatB2B marketers are getting results from social media.While B2B companies generally have fewer fans than consumer brands, it’squality—not quantity—that matters, with 10,000 engaged fans being morevaluable than 10 million passive likes. While LinkedIn is well suited for B2Bmarketing, Facebook, Twitter, and others each offer unique opportunities toeducate and engage target audiences with relevant, content. Page 27
  29. 29. Sources1 I BM Global Business Services, “From social media to Social CRM: What customers want,” March 20112 Nielsen, Global Online Survey, Q1 20113 F orrester Research, Inc., “What Is The Value Of A Facebook Fan? Zero!”, July 8, 2010, by Augie Ray4 F orrester Research, Inc., “The Road Map To Integrating Social And Customer Data,” October 25, 2011, by Zach Hofer-Shall with Dave Frankland and Allison Smith5 F orrester Research, Inc., “It’s Time to Make Facebook Marketing Work,” November 28, 2011, by Nate Elliott with Sean Corcoran, Sarah Glass, Sarah Takvorian6 S ocial Media Examiner, “2012 Social Media Marketing Industry Report,” April 2012 Page 28