Interesting article submitted by Fred Neil, Head of Consumer Marketing – Kindle Content, Amazon, entitled “Social Media’s Role Will Soon Shift From Driving Awareness to Creating Revenue” to answer the question “How can brands actually make social a sales channel, and with a real, determined return on investment?”
Short answer: “Brands need to start actively transforming their social communities from cost centers into profit centers, which begins with understanding your audience.”
1. Leverage existing data to drive advertising. Look to data-rich channels and analytic-focused companies such as Umbel, comScore and Insightpool
2. Activate social media as a sales channel. Hot tactics include referral programs and comment selling.
3. Use customer support to drive top-of-the-funnel leads. Turn fans and followers into advocates by using social media to quickly address customer complaints and interact tirelessly with those engaged.
The Result: “Social media has a 100 percent higher lead-to-close rate than traditional outbound marketing.”
Within the article is an infographic on this year’s projected holiday social spending – here are some factoids I found to be particularly interesting, especially given our social media manager’s push for Instagram (she’s 20-something too and right on target!):
“Today, establishing a social-media presence for your brand has become a checkbox item, a necessary part of building brand visibility and connecting with the 1.5 billion social-media users worldwide.”
“$602 Billion in Holiday Spending (2013) with an expected increase of 8% in 2014 ($650B)
* 1.32 Billion Users on Facebook
* 271 Million on Twitter
* 150 Million on Instagram”
“67% of Marketers will spend more on social during the holiday season than last year”
“Facebook is King…For Now: 92% of Marketers plan to spend their majority of their social marketing budget on Facebook”
“According to Marketers, 73% think the breakout social network of 2014 is Instagram”