Your Marketing and Design Reading for The Weekend
Another data point to consider is that 78% of respondents to a Marketforce 2012 study indicated that posts by companies directly influence their purchase decisions.
There are three phases of social marketing:
- Grow: users become fans.
- Engage: fans engage with brands via news feeds, tabs and canvas applications or social graphs on brands' websites.
- Monetize: as the fans build relationships with the brands, they move toward monetization and advocacy. Continued engagement enables actions, stories and messages to spread through fans' networks and attracts friends of fans to the brand pages (earned media).
The white paper goes on to provide advice and examples on how to grow, engage and monetize fans. If you want proof that social media delivers positive ROI, you'll be glad to hear that Starbucks fans and friends of fans demonstrated a 38% lift in purchase behavior within four weeks of exposure to earned media (compared to the control group). Fans and friends of Target were 19% more likely to purchase in Target in the four weeks following exposure. Not convinced by examples from these big brands? Well, Eye City Vision in Central Texas had its two highest sales months since it was founded, with sales up more than 40%, after they launched a six-month long coupon campaign for $1,000 off Lasik.
The three-phase framework is cyclical and if you follow it, the white paper assures that key stakeholders within your business will recognize the value and ROI delivered throughout each step of the cycle.
I couldn't resist this terrific title and I was especially excited to read about the topic because we are currently working on improving SEO for one of our brands and putting together a plan for the entire company. Plus, it is always a challenge to explain why you need a budget for outside help or a new team member. But people pay attention the second they realize your site does not turn up on page one of Google organic search results!