The Top 10 Progressive Media Concepts Blogs of 2011
This weekend will mark the end of 2011 and the beginning of 2012! We hope everyone had a great year and has big plans for 2012, as it is best to start the New Year off on the right foot! For those of you who have been following our work since the beginning, or even just recently started reading, we thank you and would like to recap our top 10 blogs of 2011 that were made possible by your views!
What You Should Know About Social Media Conversion and the Social Consumer
Not everyone is going to purchase your product. More times than not, a company will expect their social media campaign to be wildly successful right from the start of their campaign. Brands and companies should know that it takes time for a social media initiative to be successful. There are ways to speed up the process of course, but understand not everyone who views your product is going to buy it. The #1 question asked in regards to social media is, “What is the ROI?” Well, that all depends on what you’re trying to achieve from using social media. If you are running promotions in attempts to increase sales, the conversion rate is vital to understanding your success with the campaign.
Conversion is the percentage of visitors or users who take a desired action. To better understand what I mean, follow the example below.
You run a Facebook promotion of 50% off a particular item using the code PROMO. The Facebook promotional tab had 2500 views, yet only 100 people purchased using the code PROMO.
Your conversion ratio would be 1:25.
Your conversion rate would be 4%.
What you should know about the consumer.
Even if you offered free products, not every person will convert. Many factors play into whether the consumer will click on a link, participate in a promotional contest or purchase a product. Such factors include:
Enticement. You want to entice your customers in order to get them to click on a link that leads directly to your sale items. So how do you achieve this? You can engage them by creating attention-grabbing statuses, posting photos or videos, and asking for their opinions. When you are restricted by the number of characters that can be used, and all you have at your disposal is text and a link, you still need to be able to entice your consumer. If you’re using a platform like Twitter, make sure that the tweets contain some sort of incentive for your consumer to click on the link. Supplying proper and enticing information may help convert those who click the link into sales.
Time. In today’s busy society, time is always an issue. We are a time-conscious civilization where time costs money. If something takes too long to purchase, a person may either give up completely or say they will finish it later, which never gets finished. Making the process easy to understand and simple may increase the amount of people who complete the purchase.
Information. Companies typically ask for a great deal of information to ensure customer identification. Anyone who is shopping online understands that certain information is required and will gladly supply it. But requesting information irrelevant to the purchase may cause a person to second guess their decision, and not proceed with the purchase. People are skeptical about their online privacy, so do not make them feel like you are fishing for more information than what is needed to purchase the product.
False Advertising. Consumers hate to be tricked. How many times have you clicked on a link to what seems to be a GREAT deal, only to find out there is a catch. You may find a lot of people clicking on the link, but also find that only a small percentage of those clicks convert into a sale. For example, a link claims that you will receive 50% off of your first purchase. After you click the link, you find out that the deal is really 50% off your purchase of $3000 or more. Tricking your consumers with false advertising will most likely decrease the chances they revisit your site.
Social media is a great tool for businesses and brands to keep their consumers informed and gain new customers. When used properly, your business can increase sales and revenue with each passing day. In order to sell on social media, you must first understand the mind of the consumer and their likes and dislikes. It may take trial and error before you figure out what sort of campaign will drive the highest conversion rate, but do not give up. The higher the conversion rate and the more people are doing what you ask of them, the more successful that campaign is. Once you figure out the winning formula, you have the recipe to further your sales with future promotional events.
How to Design Your Social Monitoring Plan
Measuring and recording the analytics of your social media sites is important in providing insights to your overall campaign. Social monitoring goes beyond those numbers inputted for your data records. Measuring is when you use analytical platforms to measure your social progress. Social media monitoring is using a tool to crawl the web and find online users who are mentioning your brand, your products, or your competitors, and then engaging with them.
If you have all of your analytics set up, wonderful! But it’s time to take your social media game up a notch with a monitoring tool. But before we get to speaking about which tools are best for your business, (yes, there are free ones), let’s try to help set up your social monitoring plan.
The Profile of the Social Consumer and How to Interact With Them
Let’s face it; social media has changed the way businesses have to interact with their customers. What used to be a one-way, company-centric selling process has become a customer-driven procedure. Social media has revolutionized the way consumers go about buying their products and services. If your business doesn’t understand the new-age purchasing behavior of your consumers, you are sure to be left in the dust.