Posts Tagged ‘LinkedIn’

Leads for Less with Social Media

Written on February 26th, 2010 by Mike Andrewno shouts
Image representing HubSpot as depicted in Crun...

Research on social media lead generation

Social media, blogs and search engine optimization more cost-effective for lead gen

Pull marketing tactics such as search, blog and social media generate cheaper leads than more traditional outbound efforts, according to data from inbound online marketing platform HubSpot.

The “2010 State of Inbound Marketing” report indicates that spending on lead generation is 60% less among companies that devote at least one-half of their budget to inbound marketing, compared with companies spending at least one-half of lead generation dollars on outbound tactics.

The average cost per lead from inbound marketing was also significantly less.

 

Graph on Average Cost Per Lead

Average Cost Per Lead

In both 2009 and 2010, companies in North America tended to rate all the inbound tactics studied as below average in cost per lead. Respondents rated direct mail most cost-effective among outbound strategies. Still, only 37% said it generated leads for less than average.

 

Graph showing cost per Lead rating

Cost per Lead rating

The gap in cost-effectiveness is leading to a gap in spending, the report said. Inbound tactics are seeing a slight increase in share of lead generation budgets, while outbound tactics are decreasing. Usage of mixed tactics such as e-mail—which can be used for both push and pull marketing—is also on the rise. And businesses rated every inbound channel more important than any outbound channel for their lead generation efforts.

HubSpot also noted that more than two-fifths of companies using various social media marketing channels had acquired a customer from those channels.

 

Graph showing companies in the US who have aquired a customer through Social Media

Companies in the US who have aquired a customer through Social Media

Unsurprisingly, for business-to-business firms, LinkedIn was most effective for customer acquisition. Business-to-consumer companies did better on each of the other sites, with the best results coming from Facebook, where nearly seven in 10 had found a new customer.

 Leads for Less with Social Media

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Social Media Business Plan for Small Business

Written on February 10th, 2010 by Mike Andrewone shout
Every day I can guarantee that you will be impacted in some way by social media, there will be experts telling you, you need a profile on social networks like Facebook, and that Twitter is the best thing since sliced bread was invented, so you create a profile and you start to tell everyone and anyone who will listen about your latest product or service, but is that really the way to approach social media, doing the same thing you do every day on more traditional mediums?

Taking this approach to your social media strategy will do nothing more than waste your precious time, time that could be spent prospecting for new business opportunities and working with your clients face to face.

I know some younger business owners who think that social media and the Internet will replace face to face contact, the reality is it won’t, however the very same principles you use face to face, apply to social media, the only difference being the method of delivery.

I know of some major companies who have launched their social strategy with profiles on this site and that network, yet their sites are full of their staff members or franchises congratulating themselves on such forward progress, but where is the consumer?, where is the engagement factor?, where is the interaction with the people that count the most, your customers.

This should be the reason you create your social media strategy in the first place, to create the local expert, the trusted advisor role, create and engage your community and to provide information and advice for the long term.

One question to ask yourself is, why do people interact within social network sites in the first place? Is it to get your latest product or service? No, No, No, they are there to connect, to engage and interact with other like minded people, to share experiences, to share activities and create a sense of community and to stay in touch with family and friends.

You as a business person need to understand this motivation and work with it to really maximise the return on your investment of time in creating a social media strategy for you and your business. So what is the best way to approach a social media strategy, firstly you need to work out why you want to have a presence on social networks, is it because everyone else is doing it? Is it because your competitor down the road is doing it so you should as well right? Well wrong actually, do it because it gives you another advertising medium to capture the attention of prospective customers, do it because it is a huge billboard of opportunity to take your message to the masses, do it for you and the exposure it can bring you and your brand, do it because you are an expert in your field and do it because people are looking for an expert to advise, coach and motivate them.

Start by doing a business and digital media strategy and look at ways in which you’ll start to build an audience, do you start a blog first, do you jump on Facebook and MySpace or do you start using Twitter and on what network sites do you create a profile.

How do you declare your brand identity? Remember, you should be focused on how you and your team help other people, being the business to call when requiring a service or product and raising the profile of you and your business on the web.

The first step, is create accounts on Facebook, Twitter, Linkedin and YouTube. Check in and see where you fit in to the community, upload or add all of your contacts into Facebook and start a routine of regularly adding “friends” to your page, the goal is to get your personal contacts engaged and to start to follow and engaging with other local businesses, build a schedule so that you can allocate time each week to this, otherwise you will find yourself becoming overwhelmed with trying to keep up with all the conversations that happen.

As you become more familiar with the sites you learn that Linkedin or Twitter may not be for you, that’s fine, at least you are now more informed than you where when you started.

You are learning, next you can start to build your blog, your blog web site is your central hub with all roads leading to it, and everything you do should be designed to get people to your blog and interacting with you on your territory.

It’s great to have a Facebook page but even better when you have both working for you; you are in a win win situation.

Remember, with your blog comes responsibility, you’ll need to add content to it regularly and this takes time, so you should allocate at least 2+ hours a week.

Use the same strategy for all the social network sites you use, allocate time each week in your plan to update your sites and remember it’s about engaging your community not only about promoting your latest product.

We can help you save time and money in building your social media business plan and setting up your pages and blog, we provide weekly coaching clinics that provide information and advice on content and tactics for social media. If you’d like to find out more about our social media integration plans and coaching clinics contact me at Mike Andrew Consulting and we’ll design and set up a coaching plan for you.

 Social Media Business Plan for Small Business

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Twitter Usage Low with Small Business Marketers

Written on October 23rd, 2009 by Mike Andrewno shouts
More than three in 10 (32%) small-business advertisers plan to include social media in their marketing mix in the next 12 months by using a page on a social networking site such as Facebook, Linkedin or MySpace, according to the latest wave of BIA/Kelsey’s Local Commerce Monitor study.

The study also explored other forms of Web 2.0 marketing and found that 39% of SMBs plan to include customer ratings or reviews on their websites, 23% plan to incorporate video on their websites, and 31% plan to include links or ads placed on social sites or blogs.

 

Small business increase use of social media

Small business increase use of social media

 

 

 

 

 

 




Current Use Remains Low

Despite the significant number reporting plans to use social media, far fewer SMBs appear to be putting it into practice today.  For example, only 9% of SMBs report using Twitter to market their business in the past 12 months. Similarly, only 23% have used social sites in the past 12 months, only 16% have incorporated video into their website and 29% have included customer ratings and reviews.

Fewer Established SMBs Tweet

The study also revealed that the adoption of social media – including Twitter – by SMBs is more prevalent among younger businesses. While 16% of businesses that are three years old or younger say they use Twitter, only 2% of those in business 11+ years report doing so:

 

Small business and social media

Small business and social media

 

 

 

 

 

 




The same phenomenon is true for plans to use pages on social sites. While 44% of businesses that are three years old or younger say they plan to market this way, only 22% of those in business 11+ years say they will.

 

Small business usage of social media

Small business usage of social media

 

 

 

 

 

 

 




BIA/Kelsey’s research is the latest in a string of unaffiliated surveys with different methodologies that have attempted to gauge social media use among SMBs. Recent research from Citibank about how small businesses market themselves seems to support BIA/Kelsey’s findings that many SMBs are not currently using social media. However, another survey by Internet2Go and MerchantCircle  discovered  a growing segment of online small-business owners who are aggressively promoting their businesses with social media, especially on Facebook and Twitter.

About the study: Study results come from the latest wave of BIA/Kelsey’s Local Commerce Monitor, the firm’s annual tracking survey of small and medium-sized businesses, conducted with research partner ConStat since 1999. The survey measures where SMBs are spending their advertising and promotional budgets and how their media usage and spending habits are evolving. Local Commerce Monitor draws its sample of business respondents from a mix of nationally scoped MSAs, which include first- and second-tier markets. Local Commerce Monitor Wave XIII was conducted in August 2009 via an online survey of 1,092 SMBs, comprising a core sample of 302 SMBs, plus SMBs from three ’super vertical’ categories: home/trade services, professional services and financial services.

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Emails and Social Networks

Written on September 18th, 2009 by Mike Andrewone shout

With more than a third of Internet users now visiting social media networks each month, a lot of time is spent in gathering information, and now it appears that 40% of email users visit social media sites to gather information about products and recommendations from friends.  A recent study called “Emails Gone Viral” by Silverpop found that shared emails delivered an average increase of reach of 24.3%, and that figure is due to increase as sharing becomes more mainstream in the future.

Social media sites do have an impact on the increase of opens for emails as well with at least an additional 1% of opens for emails when shared on network sites.

So when does your email have it’s biggest impact on social media users? the majority of opens and clicks on shared emails is within the first few days and the last click about 7 days after posting, although activity  on an email was extended as long 44 days.

Email Links per Social Network

Email Links per Social Network

Emails that were most frequently shared were those that featured a brand name or product in the subject line rather than a product offer.

Links to Facebook, Myspace and Twitter were included most often in email messages, Bebo, Delicious and LinkedIn had a higher percentage of shared link clicks among the networks.

“Combining email and social networking can be very powerful,” said Loren McDonald, vice president of industry relations for Silverpop.  “Research tells us that ninety-two percent of adult Internet users send or read email.  And social network users are, on average, connected to between 150 and 200 friends, so developing an email that is socially shareworthy can turn messages viral very quickly and reach a new group of customers very similar to the ones you already have.

“This first benchmark study establishes a baseline for future studies that will examine whether sharing activity changes as the practice spreads from early-adoption to a mainstream marketing practice. ”

As if social networks weren’t noisy enough, it’s about to get a lot worse.

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