Articles by gtaylor

As a growing number of businesses begin to include social media in their marketing mix, it is increasingly important to quantify the ROI of Twitter, Facebook, LinkedIn, YouTube and other popular sites.

Old Spice saw an increase in sales from their viral video creation, Dell raked in a few million dollars via their @DellOutlet Twitter account by tweeting specials and coupon codes and Wheat Thins is attempting to score big with their latest Twitter campaign delivering a palate of Wheat Thins to unsuspecting consumers who tweeted that they were out of Wheat Thins.

All have one thing most companies do not – the luxury of a national television advertising budget.

So how can you determine if your social media efforts are paying off?

The first question everyone asks is, how can social media increase sales?  Retail stores and restaurants see the quickest ROI from social media because coupons, discounts and giveaways get immediate attention from consumers.

B2B companies, meanwhile, have a slower process and must understand that the ROI of social media is a different animal entirely.

B2B social media success is best defined in terms of measurable increases in web traffic, leads, blog comments, tweets, retweets, Facebook connections, YouTube views or LinkedIn group members.

Simply stated, B2B sales are more complex than retail stores and restaurants.

For B2B, social media bridges the communication gap that once existed.

Your social media efforts should encourage open two-way dialogue with your customers and prospects and – most importantly – create value for them.

Are your social media efforts paying off?

If you’ve received feedback on a product or service, helped out a friend or follower or increased awareness of your brand, an increase in sales may just be around the corner.

Social media marketing is a marathon – not a sprint!

With 31 million page views per month, 20 million API requests per month and more than 1.8 million members, you would think local businesses would take advantage of the marketing perks of Foursquare to increase sales.

I  recently checked into my 50th venue to discover that more than 50% of my check-ins were local businesses that I manually added to Foursquare. In the one to two months I have been actively checking in, becoming the mayor of some of the locations means nothing.

Why are local businesses hesitant to participate in the fun?  There’s only two possible scenarios — lack of understanding and of time.

Many business owners either don’t have the time or are unable to grasp the concept of social media communication.

Foursquare enables you to communicate directly with your customers.  You can follow and interact with your customer on Twitter or invite them to like your Facebook fan page, while small business owners, or sales reps can even friend them on Foursquare.

Here are a few tips to help you leverage Foursquare to increase sales and customer loyalty:

1. Reward check-ins

Regardless of the type of compensation, if consumers are rewarded, they will remember it.  In many cases, the recipients will spread the word to their social media network about the reward.  Offering 10% to anyone who checks in to your business and tweets about it, for example, is a small price to pay for a potential referral.

2. Reward mayors

Mayors have checked in to your business more than once, which means you either have a niche product or service, or there’s some customer loyalty brewing.  Reward your mayors with more than you would a general check-in and let it be made known on Foursquare.  Posting your special on Foursquare will increase awareness (I can’t tell you how many times I have clicked on the “Special Nearby” link).

3. Be thankful

Send a note of appreciation to someone after they check in.  A simple tweet or a short note on a customer’s or visitor’s wall will let them know you are  paying attention.  They’ll remember you next time they’re out.

4. Pay attention to the conversation

When someone checks into your store, office, warehouse, etc. they can tweet or post an update to their Facebook page about your establishment. One of the key elements to a successful social media campaign is your response. Monitor people’s comments and address concerns as soon as you can.  Whether it’s positive feedback or a problem that needs addressed, people applaud quick action and frown upon being ignored.

Integrating Foursquare into your marketing mix may take some time, but if done correctly, the effort can produce solid results for your business.

Whoever has the largest number of followers on Twitter, the biggest network on LinkedIn or the most connections on Facebook must have an exemplary social media strategy, right? Wrong!

Social media has become a numbers game where quantity is more important than quality.  Having the largest network holds no value if you are disconnected from your audience.

A social network comprised of 10,000 fans, followers, or connections looks great to prospects when citing examples of your work for new business pitches.

What the potential client often fails to see is the two-way communication between you and your network.

Relationships and value drive the social media vehicle, not tweets, retweets and wall posts.

Here are a few tips on how to get to know your social network(s) a little better:

Interact with your network

Social media is the way information is shared.  Whether it’s news, product releases or personal information, people are speaking up online and they are looking for someone to listen to what they have to say.  A reply that is short and sweet will go a long way. Talking with, not to, your network will not only help build your “social reputation” it will also add value to your network.

Forget about numbers and focus on people

Our Twitter account has less than 700 followers.  Does that mean we don’t “get” social media? No.  We have open, sometimes personal communication with over half of our followers.  We know more about our followers than what’s displayed on their Twitter bio or website.  Having 10,000+ followers would be nice, but when was the last time you tried to get to know 10,000 people?

Get personal

You don’t have to share your whole life story with someone, but common interests combined with likes and dislikes are a great way to start.  Having a personal Twitter, or Facebook account is a great way to let people get to know your human side.

Don’t be afraid to network offline

There’s only so much that can be said in 140 characters, or displayed on a Facebook wall.  Use your social media network(s) as a way to break the ice and meet people in person.  Whether it’s networking events, tweetups or conferences, meet the people you tweet with and remember to keep in touch.