Think social media is a passing fad? Think again.
The2009 Social Media Brand Engagement Report explores the social media efforts of the Top 100 Global Brands, including Starbucks (#1 rank), Toyota (#21), Dell (#2) .
The article provides excellent insight for anyone still not conviced social media can create an impact, or for anyone who is convinced but isn’t quite sure how to do it.
The article has an in-depth look into 4 featured companies and gives the reader a peek behind the scene. For example, Starbucks has a staff of 6 people manning 11 social media channels and they explain how manage that and who internally is responsible for it.
The study shows that those organizations that adopted and properly used social media (i.e. engaged customers) saw an 18% increase in their revenue between July 2008-July 2009.
When used right social media can show significant returns and limitless potential. “Recently, we found that for every four people we interacted with…another three people are added virally…” explains Starbucks.
How can you find success using social media? Fenix offers a few suggestions.
Stay focused: don’t try to do everything at once. Start small. Choose one or two channels/tools and dedicate time to using them properly. Be sure to benchmark where you are at and monitor your activities to see the impact of your efforts. Build a following, get the format right, and then adopt new tools/channels. This approach is designed to help you see success early on, so you don’t abandon your efforts. This approach is recommended for those of you just starting out. Determining what to start with can be tricky, we can help.
Stay on schedule: be sure to set aside time devoted to conducting social media, and social media monitoring, activities. Unless it is your full time job, you have to balance this with your other duties. Once you figure out the format for tweeting, blogging or whatever channel you choose, and corresponding monitoring, you will get into a groove. As with all initiatives, don’t abandon your channel. If you choose Twitter, then be sure you have the ability to keep the tweets up to date. Never abandon.
Don’t push: don’t use your chosen channels to solely sell your products or services. The key to social media is engagement and conversation. So while it’s okay to talk about your products and services, it’s better to find out who is talking about you and communicate with them. Encourage participation in your social media channel, thank users for their time/comments/feedback, answer questions, provide information, spark dialogue, encourage users to talk amongst each other.
Monitor: you must monitor not only how effective your social media efforts are, meaning the activities you do online, but to monitor the web in general to determine what is being said about your organization. Twitscoop, Facebook Lexicon, Technorati, Google Insights, are all [free] tools you can use to search for your organization and see what people are saying. Tools such as Google Alerts and TweetBeep will send you email notifications when your brand has been mentioned online or on Twitter respectively.
Use tools like Google Analytics to see how your own social media efforts are driving users to your website (if that is the objective) for example. Monitoring is the only way to find out if your efforts are working and the only way for you to stay on top of your brand chatter. Use this information to make decisions about your organization and your marketing/social media initiatives.
Get Viral: use your followers to spread the word and encourage additional followers of your brand. Word of mouth has always been a tried and true method of awareness building and the Internet offers a global opportunity.
Be wise: a protocol is beginning to form online with respect to social media usage and best practices. Be aware of this protocol and follow it wisely. If someone follows you, take the time to find out whether you should follow them back. If someone leaves a comment on your blog, be sure to review it and respond if required. If someone has promoted you, your brand, your product online, be sure to acknowledge that coverage. You get the idea.
Have fun: really. Social media is fun. It’s immediate, done in real-time involving real-people. It’s brevity makes it manageable, so go ahead and enjoy it. You just might like it.