Social

WORD OF MOUTH MARKETING MEANS TAKING THEIR WORD FOR IT

try it

In a study organized by the Word-of-Mouth Marketing Association (WOMMA), analysts found that offline word-of-
mouth impressions drive at least 5x more sales than paid ad impressions, and up to 100x for highly planned purchases.

Further, consumer conversations drive action immediately—within 2 weeks of purchase—much  closer to the purchase point than conventional media.

Together, online and offline word-of-mouth account for 13% of consumer sales, which represents $6 trillion in annual consumer spending.

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Categories: Branding, Online, Social | Tags: , | 3 Comments

WILL THE US EMBRACE SINGLES DAY?

hurray single

Singles Day falls on November 11, cleverly playing on the four “single” digits of 11/11. It’s hailed as the opposite of Valentine’s Day and a guilt free excuse to treat yourself. Maybe you missed it. I sure did.

As George Anderson notes in RetailWire, this solo occasion is racking up multi-billions. In 2014, it surpassed $9B globally, exceeding Black Friday and Cyber Monday combined.

Most interesting is its origin. A popular Chinese holiday since the late 90s, it has been exported by Alibaba (NYSE: BABA) on its AliExpress US marketplace and imported by other large sites like Overstock.com and Dealmoon.com. As the largest global IPO ever, Alibaba carries some clout these days.

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Categories: In-store, Online, Social | Tags: , , , | 5 Comments

THE POWER OF POSITIVE SOCIAL MEDIA INFLUENCE

social advocatesYou’d be hard pressed to find a marketer or merchandiser today who doubts the value of online reviews in the purchase decision. If you’re one of the skeptical 10%, see for yourself what 90% of consumers say.

If you’re one of the 90% still reading, you get to consider higher order questions, such as the impact of negative and positive sentiment in reviews specifically and social media generally.

In the beginning, reputation monitoring and social media management traditionally acted as insurance—limiting the downside from negative comments or reviews.

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Categories: Social | Tags: , , , , , , | 2 Comments

THE RIGHT QUESTIONS ABOUT SOCIAL ROI

Retail and CPG marketers are scratching their heads about measuring social media. The main reasons are that it comes so many forms and we know so little about them.

It can be an ad network. Facebook is now the #1 display ad network, delivering 31% of impressions.

It can be a PR vehicle. The number of PR firms receiving more than 15% of their revenues from social media activities is up 50%+.

It can be a market research source. Over 75% of respondents to a survey by Valued Opinions said they use social media to share thoughts on a product or service. Continue reading

Categories: Analytics, Branding, Online, Pre-store, Social | Tags: , , | 1 Comment

AVOIDING A SOCIAL MEDIA DOWNER

To know the road ahead, ask those on the way back. That’s a proverb worth heeding by retailers and manufacturers engaged in social media marketing.

Doug Stephens of Retail Prophet recently asked a full auditorium of marketers how many were engaged in social media.  Most of the hands went up.  Then he asked how many were disappointed. The hands stayed raised.

Many social media marketers have been disappointed because they lacked clarity in two areas: (1) purpose for their brands and (2) expectations about their audience. Continue reading

Categories: Branding, Online, Pre-store, Social | Tags: , , , | Leave a comment

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