Social Media Management
Social media management is currently focused mainly on FaceBook and Twitter due to the amazing amount of market share these two properties enjoy.
The idea behind this effort is to make sure you get as many of your existing or potential customers as possible to “follow” or “like” you, thereby joining your “club”. This essentially gives you permission to engage them on a regular basis through tweets and showing up in their FaceBook newsfeed.
This engagement is often not “direct sales”, but the objective is to remain on the mind of your customers so that when they need a product or service you provide, you’re already the vendor of choice. It’s the MUCH more sophisticated and powerful version of giving away a calendar or refrigerator magnet.
Develop a plan to build your following on Twitter and FaceBook
Develop regular content (1-2x per week) that will be posted on your FaceBook and Twitter feeds so that your customers and potential customers will keep you company on their mind.
Use innovative methods to periodically (1x per month or so) engage your following in actual direct sales through promotions, coupons, special offers etc.
HOW DOES IT WORK?:
A plan must be developed to get your customer base (and potential customer base) to follow your Twitter feed and/or “like” your FaceBook page. This allows for the development of this ongoing relationship where you can interact with them all on a regular basis.
In parallel, a communication plan and schedule needs to be created and then executed. 1-2 x per week, little bits of content, or images, or news etc. that would be of interest to your customer base is sent out. In addition, comments and other interactions are responded to and questions are answered. You develop and interact with an online/virtual community.
The best way to understand what we mean is by “liking” a company’s FaceBook page that you use or perhaps even a competitor’s. This way, you’ll be able to see how they interact on a regular basis.
RETURN ON INVESTMENT:
New customers – Despite all the hype, social media management efforts have not resulted in a large ROI with regard to getting NEW customers. It does a lot better in the other two categories and always has an opportunity for things to go a bit “viral” resulting in new customers, but that should be considered a bonus.
Keep existing customers – This is an area where social media management excels. The strategy here is to get people to be in your “club” or group. Consequently, your business, products and services are often on their minds. When it does come time for them to be a buyer again, they’re more likely to stay with your company.
Increase revenue from each sale – This is another area where social media can shine. You have excellent access to your customer base to promote sales, coupons, and other news that will increase revenue.