Can I Increase Business Using Social Networks?

John Marino

Founder

RSP Marketing

jmarino@rspmarketing.com

www.rspmarketing.com

Topic: Marketing/ Communications

It is increasingly difficult to ignore social networks and their influence on our lives.  We see ads for cell phones promoting social networks, the media discussing our loss of privacy, and our family and friends sharing everything about them.  The speed of social conversation moves fast, faster than public relation and traditional advertising efforts.  The results are instantaneous and social network marketing is more cost effective to communicate than traditional advertising channels.  The tools are integrated into our computers and smartphones for everyone to join in.  The question is can I increase business leveraging all this conversation?

Traditional advertising is communication output.  Businesses share their message in a structured format.  Today, communication is output and input.  Brand managers and business owners create relationships online through the use of Twitter, Facebook, LinkedIn and Foursquare to engage their current and potential customers.  They can feature their products and services through conversation.  Most business owners say word of mouth advertising is the most effective.  Social networking increases conversation and strengthens relationships that result in sales.

Public relation efforts output the message via a press release, an event or through relationships with the media over a long period of time.  Social networks facilitate conversations that are instantaneous.  It is organic. Relevant.  Free.

No longer do you have to pay for the buzz, you can create it for free.  Retail stores and restaurants have the added advantage of location-based Apps such as Foursquare, Gowalla and PlacePop.  These tools have users check in and this info posts directly to their Twitter or Facebook account.  Now if a place has 10 people "check in" online and each person has on average 250 friends/fans/followers that equates to 2,500 potential customers that are notified in real time.  When people are checking in daily that is over 17,500 people per week for free. 

These geo-location tools create the added buzz necessary to leverage more sales to an existing business. Businesses interact through these tools to potential customers that are 'in the neighborhood'.

The measurables to increase sales through social network marketing are immediate.  The metrics to measure success include:

1. Number of Followers
2. Number of Mentions
3. Number of ReTweets
4. Number of times on a List
5. Number of Direct Messages/Messages
6. Number of Twitpics
7. Number of people that check in at your place of business
8. Number of Fans/Friends/Likes
9. Number of Page Views
10. Number of Tags

This information determines whether a special offer/ad/promotion is effective.  The real time feedback allows you to adjust your message at any point in the campaign.  Social network marketing is public relations 2.0.  The ability to adjust during a campaign minimizes risk for maximum results. 

Keep your message simple, have your online presence reflect your offline business.  If you have questions feel free to ask.  You can find me on Twitter @john_marino or email jmarino@rspmarketing.com.  Keep living the dream.