Making Money with Social Media
Many marketers talk incessantly about things like “depth of engagement,” “catering to the audience,” and “the importance of a Like.” They can talk about Likes until they’re blue in the face. But what’s the value of a Like to the brand? The answer: It depends on what you plan to do with it.
You can make money with social media. But first you must be prepared to break-up with engagement and fall out of love a little bit with the Like.
At Momentum, we always set out to convey to our clients the importance of a path that provides them with measurable return.
The important questions involving social media are: How do you attract the prospect? How do you convert the prospect to a sale? How do you measure the effectiveness of the process? What does it cost?
In some cases, a brand may only be in it for the Likes. More likely they’ll see an opportunity to drives sales, stimulate trial, or sell event tickets.
In the case of a client of ours in the financial services industry, the initial goal was to accrue Likes as a means of enhancing the credibility of the brand. After a short time with Momentum, we succeeded in helping the client realize a much more lucrative path of leveraging social media to generate leads for its financial services.
We worked with BBC Kids Television to create a strategy of gaining Likes in order to put the daily program schedule in front of new moms and encourage them to subscribe to the channel – clear calls-to-action with measurable results.
We worked with the Vancouver Giants hockey team to create a Facebook advertising campaign to sell $99 White Spot Family Game Paks. The data that Momentum generated in the first few days of the campaign ended up also illuminating the need for an improved, streamlined ticketing process.
Getting beyond engagement for engagement’s sake. That’s performance defined… and the key to making money with Social Media.
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How do you convert the prospect to a sale?