Tag: marketing strategy

#SocialProof – What is Social Proof?

Social Proof. It’s a term that’s thrown around quite often in marketing and social media management, but what is it? 

Social Proof, also known as informational social influence, is where people assume the actions of others to affect their choices. It’s a type of conformity that relies on the reviews and influences of “credible” sources to make decisions.  
Basically: the customer wants proof that they’re not wasting their time on your product or service and they use social influence to determine your worth.
According to venture capitalist and blogger Aileen Lee, there are five types of social proof:  
  1. Expert social proof – A credible expert or “voice of authority” in an industry is very influential. This is one of the reasons you see/hear “doctor recommended” in advertisements. It’s why Food Network became so influential on the food industry from the mid-90s to the mid-2000s.
  2. Celebrity social proof – Celebrity endorsements are an advertising staple. According to an article by Lee, an endorsement by Jessica Simpson and aesthetician Nerida Joy helped Beautymint attract 500,000 visitors on day one of its launch.
  3. User social proof – This involves user success stories, traditional case studies, and also encourages users to create videos using the product, service, or app. Jazza from Draw With Jazza, one of the most influential rising star YouTubers on teaching people how to draw both traditionally and digitally, launched an Arty Games app in June of this year. Within twenty-four hours of its launch on all platforms, there were over 10k images, videos, and reviews posted on social media. The more people used it, the more people bought the product. People began using the Arty Games Challenges on their live twitch feeds, and sharing their success and failures in their drawings.
  4. Wisdom of the crowd – Wisdom of the crowd is basically the popularity of a product. This is where you see terms like: “Most popular post” in a blog, “Most popular video”, “X million copies sold” about a book or song, etc. Likes, shares, and followers fall into this category as well.
  5. Wisdom of friends – How many times have you watched a show, read a book, or went to a place based on a friend’s recommendation? It’s “the killer app of social proof in terms of 1:1 impact,” writes Lee, and there’s a good reason why. It is the heart of social proof. There is no more intimate social circle than that of your personal friends. If they don’t like something, it’s hard to deny their influence on your choices.
So what does this mean? It means that social proof is necessary to your success in a business. Likes, followers, reviews, reactions, endorsements, and more all make up the heart of your social influence. So how do you determine your #SocialProof? We’ll cover that soon. For now, start with the basics. Go to your social media channels and write down your likes, followers, etc. for each of your influence circles. Keep track of your reviews, and be ready to take the next step in building a strong foundation to launch your brand into social media success.

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Hollie Clere of The Social Media Advisor is a “#BeAwesome” Developer, Social Media, Brand Builder, Content Manager, Trainer and Author in LinkedIn, Facebook, Twitter, Blog, Google+,YouTube, Pinterest, Instagram and the tools to manage them.

#DevelopStrategy – Relationship Life Cycle

This month we covered the differences in both relationship marketing and lead generation. While both of these have a place in your marketing strategy, in this article I want to focus more on relationship marketing and what I like to call the Relationship Life Cycle.
As a refresher, relationship marketing is essentially fancy terminology for the practice of developing a long-term connection with your customers, clients, vendors and power partners. Instead of focusing on gathering a lead or closing a sale, the aim is to provide a bond with the people you work with. The long-term benefits of relationship marketing tend to be more referrals, client enthusiasm and the development of brand advocates.
The course of the relationship life cycle is closely tied to the ole marketing adage of Know, Like, Trust.  If the new way to market a company is backed by the idea that people do business with other people (instead of companies) then the know, like, trust concept is absolutely essential. Here is how the relationship life cycle would apply to your marketing strategy using social media:
Know
The first step in any relationship is getting to know the other person. You simply can’t make a connection with someone you’ve never met and know nothing about. Think of it like dating – once you start to know a potential suitor then your curiosity will lead you to finding out as much about them as possible.
Whether it be an introduction at a networking event, a discovery call, or a visit to your website – getting to the Know step involves getting to know each other. When it comes to social media, this appears in the form and following your various social media channels. People can also get to know you by hearing about you from others, meeting you at events, reading your online content, or viewing any media you’ve been featured in. Once someone starts to know you, and gets a sample of what you are about, then they are more likely to sign-up for your newsletters, like you on Facebook or follow you on YouTube.
Like
Well, now that you’ve gotten a chance to spend some time with the individual – you have to decide whether or not you like them. In our dating scenario, are they worth going out on a date or two with to see what develops? Do you like them enough to begin to participate in their life?
Those who are paying attention to what you are doing will either begin to like you or they won’t. However, once you hit the Like stage you will find that they begin to initiate some true social media engagement with you. They like your posts, comment in your group, or participate in your polls.  This phase of the relationship life cycle involves interaction so be sure to participate in return!
Trust
Now you’ve gone on many dates and have been seeing each other for a while. At this point, they are becoming a partner and you have developed trust in them. You like them so much, that you want your friends and family to like them too! At this point, you are sharing their content.
This is the end game for the relationship life cycle…you want all the people you do business with to know, like and trust you. The goal should be that they trust you so much that they freely, and happily, share your content and business with the other people in their circles.
When you compare the relationship life cycle to how we operate with our personal relationships, the success behind relationship marketing becomes much more apparent. Our clients become more than an invoice. If you want loyal clients that will regularly provide free marketing for you, this level of connection is the way to go. Just another tool to add to your marketing strategy toolbox because everyone here at The Social Media Advisorwants you to #BeAwesome at what you do!
~ Social Media is changing the way people do business.  Don’t get left behind ~ 
Be sure to Follow us and Let’s Engage!
Hollie Clere of The Social Media Advisor is a “#BeAwesome” Developer, Social Media Brand Builder, Content Manager, Trainer and Author in LinkedIn, Facebook, Twitter, Blog, Google+,YouTube, Pinterest, Instagram and the tools to manage them.

#DevelopStrategy – Relationship Marketing vs. Lead Generation



Marketing strategies are not created equal. While everyone has a perspective on which is the most effective, two common ones that get lumped together are “relationship marketing” and “lead generation.” These two marketing strategies are not the same thing.

Relationship marketing involves the use of “direct response” campaigns that emphasize customer retention and satisfaction. This type of marketing strategy creates a bond with the customer through narrow market targeting, tailors offers to their customers, and usually demands a response that can be tracked by the marketing team. This typically requires an email address so that the company can contact the individual directly for exclusive offers, maintenance follow-ups, and unconverted leads. Relationship marketing is about the long-term value of a loyal customer and the connection that can be built beyond typical ads and generic sales promotions.

Pros:

  • Allows companies to tailor taste profits based on the customer’s preferences, activities, etc.
  • Focuses on customer satisfaction
  • Increased customer retention by enriching the purchasing experience
  • Brand loyalty becomes more commonplace
  • Referrals come from loyal customers


Cons:

  • Cost of acquisition is steep at the beginning in both time and money
  • Slow-moving marketing platform that requires patience as referrals build
  • Networking, not everyone’s forte, is a central piece in developing business relationships


Lead generation, however, focuses on the sales lead side through newsletter sign-ups, marketing referrals, events, etc. This is a key part of the purchase funnel method and is associated with pipeline marketing. It’s less personal than relationship marketing, but very effective in gaining new potential customers. Lead generation usually requires an opt-in of some type. Examples include landing pages, online surveys, and brand specific opportunities. Like relationship marketing, lead generation requires an email address to convert leads into customers.

Pros:

  • Build a list quickly
  • Ensures that your clients and customers want to be there (opt-in)
  • If combined with a sales funnel, this method can run itself via newsletter drip campaigns after the initial set up


Cons:

  • A relationship isn’t really built until they “opt-in” to something you offer
  • High turnover rate
  • If done poorly or in a sleazy manner, this can destroy your reputation (Don’t offer something you’re not willing to follow up on!)

Both relationship marketing and lead generation have their strengths and weaknesses, but the best marketing strategy involves a combination of the two. Ensure that you track the results for each style so that you can adjust your strategies as needed to ensure a long-term quality experience for both you and your customers.

The team here at The Social Media Advisor prides itself on developing their business through relationship marketing but also comprehends the value of lead generation and prospecting. A healthy balance of both can be extremely valuable for any small business. Want to find out more? Contact me to book a discovery call to find out how we can help you #BeAwesome with your marketing strategy. 



~ Social Media is changing the way people do business.  Don’t get left behind ~ 


Be sure to Follow us and Let’s Engage!

Hollie Clere of The Social Media Advisor is a “#BeAwesome” Developer, Social Media Brand Builder, Content Manager, Trainer and Author in LinkedIn, Facebook, Twitter, Blog, Google+, YouTube, Pinterest, Instagram and the tools to manage them.


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