How To Drive More Revenue By Engaging With Customers On Social Media
As digital marketing spend continues to climb, more and more digital marketers are shifting their focus from lead generation to revenue growth. Why? Because interacting with customers online has been proven to drive sales. For instance, new research from Webmarketing123 found that one in five B2B and one in three B2C marketers have generated revenue from social media, and Adobe Digital Index recently reported that for Q4 2013, revenue per visit (RPV) had increased once again across the major platforms:
- Facebook: up 72% year-over-year and 31% quarter-over-quarter
- Twitter: up 131% year-over-year and 84% quarter-over-quarter
- Pinterest: up 244% year-over-year and 69% quarter-over-quarter
- Tumblr: up 340% year-over-year and 38% quarter-over-quarter
Smart marketers recognize that engaging customers online can drive sales and increase revenues. Not only do engaged customers spend more; they are also likely to become loyal fans who will amplify your brand message across an even broader spectrum of consumers.
Here’s how you can improve customer engagement online and start driving more sales, too:
1. Find your customers. To elevate your brand presence, you need to influence consumer conversations about your product/service and create a cohesive experience across all channels. The first step in that process is to identify where the conversations about your brand are happening. Answer this question: Where are your customers most active? For most brands, that place is social media.
2. Start listening. Before you jump in and start interacting with your customers on social media, take the time to listen. What are they saying about your brand? Are there certain times and/or occasions when the conversations increase? Why? Listening informs you about what’s important to your fans, so you can start building an engagement strategy.
3. Influence the conversations. In order to see social media engagement improve business performance, you’ll need to do more than simply participate in online conversations with your customers. You need to influence those conversations and shape the behaviors of the audience you care about. What’s the best way to do that? Use gamification to reward the behaviors that drive business value for you. For example, customers who use the Bunchball Social Media Module, can reward customers for activities like:
- Tweeting about a brand while at a store location
- Tagging brand-related images on Instagram
- Participating in conversations on the brand’s Facebook page
In addition, they can encourage sustained engagement by offering personalized incentives based on each user’s online behaviors across your website, communities, social media platforms, etc. Over time, incentives like that motivate customers to engage even more deeply.
4. Evolve. As you begin to strategically engage customers on social media and your other touch points, the data you generate will tell you what works . . . and what doesn’t. Look for technology that can help you accomplish your goals. It needs to be automated, scalable and adaptable to your changing needs.
Your customers don’t want one-size-fits-all discounts. They want meaningful brand interactions that lead to personalized incentives based on what they value. Incorporate gamification and you’ll find you can actually influence online conversations, reward high-value interactions and ultimately, drive more revenue for your business.