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| Image credit: WireImage via @daylife |
Let’s face it, seems like pretty much everyone is on social
media these days and with the right tools and strategies, companies can utilize
social media to increase business and build relationships. You never know when
a potential customer is going to stumble upon your social media page and
inquire about your products or services so it is best to provide customers with
the tools they need to easily learn more about you! 60 Second Marketer (n.d.)
suggests, “Every social media page your company has should direct potential
customers to a landing page on your site. By looking at the analytics for that
page, you can determine where your customers are coming from and how much they
interact with your site once they get there.”
Social media savvy companies understand the importance of identifying
these leads because they can lead to customers. One way to track these leads is
to monitor your brand everywhere on the web (Cleary,
2013). You want to know who’s talking about your brand and what they are
saying. “When you monitor and track keywords, you can find potential business,
build relationships with new people and respond quickly to situations that
could damage your brand” (Cleary, 2013).
So why is monitoring what people are saying about your brand
so important? Customers who talk about your brand can hold great value to your
company. “Customer Lifetime Value, in its most basic form, is the amount of
revenue a typical customer will generate for your company during the customer’s
engagement with the brand” (60 Second Marketer, n.d.). This is important because it gives marketers
an idea as to how much repeat business can be expected from a particular
customer, which can help you determine how much to spend to “buy” that customer
(Sugars, 2012).
You can estimate the CLV by plugging in your numbers into
the following equation:
(Average Value of a Sale) X (Number of Repeat Transactions)
X (Average Retention Time in Months or Years for a Typical Customer)
Now that you understand the importance of increasing your
CLV, here are some tools that can help increase CLV. Explore some of these
tools and let me know how you think they help with your SEO! I’m also always
looking to try out new tools so please share any useful tools in the comments
below!
Google Alerts: the most basic of monitoring
tools that can pick up mentions of your brand across the web
· HootSuite: Allows you to monitor several social
media platforms to track mentions, follows, and any other engagement with your
brand.
· Sprout Social: A tool that’s designed to help
businesses grow their social media presence
References:
60 Second Marketer (n.d.). An In-Depth Guide on How to
Calculate the ROI of a Social Media Campaign. Retrieved from http://60secondmarketer.com/blog/2013/11/17/in-depth-guide-calculating-social-media-roi/
Cleary, I. (2013). 3 Analytic Tools to Improve Your Social
Media Performance. Retrieved from http://www.socialmediaexaminer.com/3-analytic-tools-to-improve-your-social-media-performance/
Sugars, B. (2012). How to Calculate the Lifetime Value of a
Customer. Retrieved from http://www.entrepreneur.com/article/224153
Alyssa,
ReplyDeleteReally great post! I like how you broke out the CLV formula into simple terms and numbers that people who have never used it before can understand.
I personally have experience with Google Alerts in my current job as I’ve signed up for Alerts on not only the organization I work for, but local competitors as well to ensure I am in the loop. In terms of social media tracking I have looked at HootSuite and similar dashboards however our social media footprint is too small to warrant a medium that tracks across multiple sites. Sprout Special sounds very interesting and I intend to look into that platform further though! (Thanks for sharing!!)
We also use Google Analytics (https://www.google.com/analytics/) to track statistics that are specific to our website. Working for a smaller organization, it provides a good amount of data that currently serves our needs quite well. Do you have an experience with this platform? I find it is a good way to help measure the effectiveness of the messages we are posting because it supplies users with the referring website to a page.
David Scott believes that “the single best thing you can do to improve your search engine marketing is to focus on building great content for your buyers” (Scott, 2015, pg. 398). From original content creation, to using the langue your buyers use in focusing on key words and phrases, it can certainly become a daunting task to organically achieve high rankings. Where would you suggest a first time SEO-er start?
~Nicole
References
Scott, David M. (2015). The New Rules of Marketing & PR. Hoboken, New Jersey: John Wiley & Sons, Inc.
Hi Nicole,
ReplyDeleteGoogle Alerts is a real time saver isn't it? I have alerts set-up for all of my clients so I never miss any mentions of them in the news. I also use Cision as a way to track my coverage- I'm only subscribed to the media tracking but they also have social media tracking which is cool too. However, Cision is pretty pricey and might not fit into a smaller company's budget. I do not use Google Anaytics but would really like to become more familiar with the platform (it's just a matter of making the time to do so).
Google has a great resource for those who are new to SEO. The Search Engine Optimization Starter Guide runs through the basics of what SEO is, provides tips, and even talks about how to incorporate mobile. I would recommend this resource to anyone who is getting started with SEO. Some of the tips that Google provides are: how to offer quality content,optimizing the use of images, using heading tags appropriately and more. Here's the full guide: http://static.googleusercontent.com/media/www.google.com/en//webmasters/docs/search-engine-optimization-starter-guide.pdf
Alyssa,
DeleteI seriously love Google Alerts! Glad to hear you utilize it too! I’ve never heard of Cision, probably because as you mentioned, it’s priced and positioned for a larger organization’s needs. I would highly recommend playing around with Google Analytics (it may even prove to be a good resource for the final paper due in this class)!
Thanks for sharing the Google guide for those who are new to SEO! : )
~Nicole
Hi Nicole,
DeleteI took your advice and added my Blogger site to Google Analytics! I guess it takes a few hours to kick in but I may be in touch if I have questions. :)
Oh great! Yes if anything weird comes up just reach out! : )
DeleteHi Sarah,
ReplyDeleteI like how you tackled this week's discussion from this point of view! It's always nice to see both the pros and cons when it comes to investing time and/or money in any kind of social media tool. Thanks for sharing!