Strategies are as many as ideas can be generated, and you know that there are hundreds of tools available in Social Media and thousands of ways to use them, but summarizing everything we come to the conclusion that large companies use only 5 strategies in Social Media to increase their sales and get a return on investment in both qualitative and quantitative terms.
To do this you must define more complex metrics, I’m not talking about simply staying in the number of fans, comments (although they are important data and should also be measured) but you must go further and define real metrics such as leads generated, conversion to customers and revenue produced.
Let’s look at each of the strategies with examples, which you can then analyze and assess how to apply them to your business.
Strategy 1: Brand Image
One of the main strategies in Social Media is to improve the brand image and notoriety of a company, and for this a very good option is to make viral videos that are distributed on platforms such as YouTube, but you should not just stay in brand image, but you have to see how to take advantage of all the pull that produces a viral video to generate sales.
As an example, I’m going to take a campaign carried out by Toyota for the promotion of one of its models in mini-series format, creating the Sienna family that got more than 8 million impressions with its videos on YouTube, and managed to get the people who saw them to share them with their friends through their social networks, helping Toyota to reinforce its brand image, in short, turning the users themselves into prescribers of their brand and of the new car model.
Strategy 2: Online Sales
If your company sells products online, one of your goals will be to get users to the page of your products and buy them, but how do you do it?
This question can be answered very well by the computer company Dell, which uses its Twitter channel with more than 1.5 million followers to communicate offers and promotions in their products with a very good return.
If we carry out an improvised exercise analyzing Dell’s ROI we can conclude that if they have 1.5 million followers, and for each tweet they launch they are seen by more than 3% of followers, of which 1% click on the link to have more information about the offer, and of those 10% decide to buy it, the result is that for each promotional tweet they generate 50 sales that at an average of $500 per computer becomes $25,000 return on investment for each promotional tweet that Dell launches. Do you think profitable?
Strategy 3: Market Research
Another potential of social networks is their ability to use them as a tool for market research, where you can know very valuable data for your business.
One of the best examples is the one carried out by the company Starbucks with its website MyStarbucksIdea.com, where they decided to create a platform for users to leave their ideas to improve Starbucks. The result was noteworthy, as users not only left thousands of ideas but also voted the ones they liked the most, left their opinions.
Strategy 4: Customer Loyalty
Everyone knows that it costs more to get a new customer than to keep a current one, and based on this some companies have decided to use social networks as a loyalty tool, and one of the best examples is the social media strategy of Comcast, a company that had a very bad brand image and decided to implement a customer service system using several channels on Twitter where a real team of people are dedicated exclusively to support customers and turn complaints and requests for cancellations into new business opportunities.
The results after 12 months are visible, today they already have more than 45,000 followers on Twitter, and this strategy is helping them turn their customers into potential sellers of their brand to their circle of friends.
Strategy 5: Lead Engagement
The generation of databases of potential customers is one of the most profitable business tactics in the long term as it allows you to open a communication channel of promotions with people interested in your product, to send direct and personal communications through email marketing campaigns, so social networks and lead generation must go hand in hand.
To capture leads you can use different tools, and therefore you must define a strategy where you take full advantage of the potential of the Internet by relying on your website, YouTube videos, downloading ebooks, blogs …. in such a way that little by little you are generating a powerful qualified database that will help us convert into sales.
These are the 5 Social Networking strategies most used by large companies and have also proven their effectiveness, so it is time to see how you could apply all these strategies to your company as well as the big ones to get Social Networks to help you increase your sales.