Engage In the Conversation
Social media is something we live and breathe here at Sitening, and I like to fancy myself as a conversational marketing nerd. The medium is still fairly new however, and most companies wonder as they evaluate the possibility of implementing a conversational marketing plan into their traditional one if they are going to see a decent ROI on their investment. Thankfully, they are.
A new report on a study done by Wetpaint and the Altimeter Group shows that those companies that have engaged in conversational marketing, or social media, have “on average increased revenues by 18% in the last 12 months”. And while you might think that those early adopters of successful conversational marketing campaigns would be those related to the tech industry, turns out that coffee giant Starbucks received the highest marks for their social strategy, including launching MyStarbucksIdea.com, which crowdsources future innovation for the company. Starbucks is also heavily involved in both Twitter and Facebook, answering questions through Twitter, and running promotions via Facebook like this week’s free pastry with a coffee promo to introduce the company’s new line of baked goods.
Other findings from the study:
The study found that social media efforts tend to build on themselves. “There is an exponential growth in the depth of engagement as the brand extends itself into more and more channels,” according to the report, titled www.engagementdb.com.
Companies that scored well generally had dedicated — if small — teams focused on social media initiatives. The most successful of these evangelized across the entire organization to gain broad-based support and cooperation. And instead of taking a traditional communications approach based on messaging and talking points, they embrace a conversational mode.
If you’d like to start thinking about adding social aspects to your marketing campaign, there’s never been a better time to engage. Be on the forefront of the medium, and you’ll reap the benefits of customer loyalty, retention, and maybe even have a little fun in the process.