Yes, but is anyone making any money with Twitter?
This is a question often asked by clients and marketers in general. Social Media Marketing is abuzz with people who are advising you to invest marketing dollars into the channel. You want to, but you don't really understand why, other than the fact that you see competitors doing it. Fair enough.
For the Quants among us who feel they need to measure absolutely everything, here's a great article from AdAge that outlines how local business used Twitter to drive 15% of the day's revenues. Quantifiable? Absolutely. But is social media marketing right for your firm? How can it specifically benefit you?
Some brands may want to listen to what prospects and customers are saying about the brand. These conversations are happening all the time, whether you're participating in them or not. Unless you listen, you're missing out on valuable input that can drive business decisions. Or like the local business in this article, perhaps you'd like to engage customers and participate in the conversation.
Which is right for you? Call us to discuss - 503.248.4505. The New Group
AdAge Article: http://adage.com/digital/article?article_id=136662
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Adam Boettiger is a 14-year digital marketing veteran working as Digital Strategist for The New Group, a digital marketing agency based in Portland, Oregon. 503.248.4505
Comments
AdAge article doesn't "prove" a thing... Hmmm...
Interesting Advertising Age article. I appreciate the link, but think the conclusion isn't supported by the facts.
Reading between the lines, my analytical side looks for what's not said in the article and observes:
- They imply that they offered an exceptional deal through Twitter.
- This particular pizza place used a one-time PR advantage to generate a large base of Twitter fans --- an advantage that will not exist in the future. (Note that they've been written up in entirely unrelated publications per the article.)
- Perhaps it was all direct Twitter response.
- But most likely, a portion (5 of the 15 points?) were direct through their Twitter base.
- The remaining sales (say 10 points) were the result of pass-along because it was so exceptional a deal (pass along that returned to them through Twitter).
- Net out, like most promotions, they probably lost money (profitability explicitly not mentioned in AdAge) on the initial deal.
- These things generally only pay out in the long-run with customer retention.
- What we need to know is retention and future value in order to know if it "worked".
In other words, one day they give away a lot of pizza. That's a start. But it doesn't tell us that the promotion really worked. Too many open variables.
So, very interesting. But, it seems we should be more cautious in our conclusions. And it seems like AdAge is digging hard to create a success to write about. If AdAge is having to dig this hard to come up with a success, what's that really mean?
I agree with your comment Mr.
I agree with your comment Mr. Anonymous, but more importantly I think we need to ask this question: Why are companies trying so hard to see direct profits from engaging strategically on Twitter?
Twitter is a real-time conversation that you can join, but the key word is JOIN. All your brand's influencers will listen to you if you have something to add to the conversation. It's a medium that has given brands an opportunity to speak to their consumers on a genuine level that has never been available before.
Companies looking to push information to consumers will ultimately be viewed as another pushy corporate advertisement and not a one-on-one conversation that will continue to instill credibility and authority of the brand in the eyes of the consumer.
There is a really interesting
There is a really interesting strategy EX0-101 being played out on Facebook and Twitter by Sarah Palin that Politico wrote about this weekend. Regardless of what you think of her political views, Palin’s social media 70-643 strategy is worth looking at.Think back to earlier this summer when the national health care debate was all about the so-called “death panels.” The conversation started in a large part because of two widely-publicized 642-453 Palin Facebook posts.
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