Social Media, Money Spender or Money Maker?

Is your investment (money and time) thought of as an expense or as an investment? Are you making money or losing money? Despite of some honest efforts most marketing departments are totally in the dark as to how to make money through SM. It’s like turning off the light in a room with no windows and then trying to find something.

In this new marketing world that has appeared in the last year, we need to connect on a day-to-day way in Web marketing. From customer acquisition to driving revenue and customer retention. Everyone from the corner office to the assembly line are looking at these strategic outcomes and how it will help protect their company and jobs. Don’t kid yourself we are all looking over our proverbial solders at what is behind us.

Today we are increasing conversion, and those with them, reducing shopping cart abandonment.

So you need to take action, tie tactical results to inside search, social conversations, email attacks, display and affiliate marketing to knowing behavioral metrics with measurable numbers. Make sure they are all working in unison to take prospects though the sales cycle all the way to completion not leaving them in the dark.

If you going to start a new campaign ask if it can be tract to an eventual customer action. If the answer is no, you might want to consider eliminating it or redesigning it. If the answer is yes, ask if it is part of a larger system and process that moves customers towards the eventual purchase, faster!

Then use it interactively. Advertising is inherently a mass, one dimensional thing. We talk at customers not usually with. Enter stage right SM marketing. Now we need to talk with customers in real time or as close to real time as possible. Most marketing and advertising professionals recognize the webs ability to crate immediate results from an e-mail blast to posted blogs, to a Google banner ad. But now, with the new SM tools we have at our disposal we still are clinging to the old habits. Be go out and do broadcast Tweets, Stuff our follower and friend lists full of strangers and people have no interest in what we are doing or selling thinking the more I have the better I’ll do (sorry been there done that).


Larson Notes & Satire: I challenge you to push the envelope! I challenge you to look at your SM the same way you look at your other marketing tactics and business. Demand yourself to positive outcomes!

If you are acquiring customers using a credible SM approach, if you’re listening then publish relevant content, if you’re publishing compelling, easily shared content, I think you are on the right track.

Start worrying less about immediately increasing conversion and more about the nurturing of your followers and friends as the travel into and down the sales funnel.

Howard Larson
Larson & Associates
Target Marketing & Telesales Professionals for new account acquisition
Making good businesses great and great businesses even better
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