The Monday #SoMash is back with the following social media stories from last week, including a new service that will call you when someone trashes you on Twitter, simple ways to measure ROI, and the rise of visual social platforms.
Monitoring for mentions of your small business on Twitter can be very time consuming. Owners of smal businesses often don’t have the time to teach themselves how to use Twitter, create a system to monitor your brand, and then develop a policy to deal with unsatisfied customers. Enter TweetAngel.
TweetAngel, which launched last week, will assign a rep for your small business that will call you when someone tweets negatively about your business and ask how to proceed with that customer. Depending on the plan, the small business owner can indeed dictate how to respond on Twitter, but they can also reply to complainers in person if desired. Plans range between $9.99 to $29.95 per month.
There’s only one small caveat — TweetAngel reps will only call within the working hours of 8am EST – to 8pm PST, and only monitor up to 30 negative tweets per month.
Do you think small business owners will take advantage of TweetAngel?
One of the most popular topics in social media is how to accurately measure the success of a campaign. More companies are looking for ways to measure the return on their investment. Here are some ways to measure the ROI of a social media campaign:
- Determine you Social Media Spend (SMS). Be sure to include hard and soft costs — tools, technologies, and time.
- Determine your Customer Lifetime Value (CLV). This is where the power of social comes in–not so much for customer acquisition, but for customer retention–and evangelism (where the real value is). To determine the Customer Lifetime Value ask your current customers how much they roughly spend on your product each year, then, multiply by 20.
- Determine New Customer Value Via Social Media (SMV) by monitoring conversions using Google Analytics or any other website tracking software. Track sales, conversions, etc. and place a value on those items.
- Determine Impression Value (IV). To calculate impression value, add up your impressions from Twitter and Facebook, cumulative YouTube views, website traffic and any other online source. Divide that total by 100 and then multiply by an industry-appropriate CPM (cost per thousand impressions).
- Calculate Customer Service Value (CSV). Social media can reduce customer service costs, which is a tangible value, but trying to determine it is more subjective. For example, if you feel like Twitter provides $1,000 of customer service value a month, write that in. It matters.
Now, let’s add up that Investment Return (IR): (Customer Value/20 (years) x Number of New Customers) + Impression Value (IV) + Customer Value Via Social (SMV) + Customer Service Value (CSV).
Social Media ROI = Investment Return (IR) – Social Media Spend (SMS) / Social Media Spend (SMS).
Social networks are quickly transforming themselves into visual platforms — Pinterest is gaining momentum and is considered one of the fastest growing social networks; Facebook recently launched the Timeline format for brands; and everyone loves infographics. So why are these networks more visual now? To community managers, a picture speaks a thousand words and receives a wave of feedback from the community.
“People have been using cameras and compiling photos through albums before, so Facebook, Pinterest, and other photo-sharing platforms are easily a hit. Infographics are also becoming a great tool to distribute substantial data without being boring. It’s also a plus that infographics visualize data or a process for people to understand a particular subject. It also makes it more comprehensive for people who aren’t familiar with the infographic’s subject,” says Mac Ocampo, Content Manager for Squareberry.
The use of visual social platforms is the next big step for social marketing, with big brands like Dunkin Donuts and Starbucks encouraging their fans to post pictures on their pages instead of the usual comments and suggestions about their products. “Being is visual is key to user engagement, brands should always keep in mind that sharing photos is a human instinct,” says Ocampo.
Other social media articles from last week that you may enjoy:
- Facebook Interest Lists Turn Your Feed into a Personalized Newspaper
- Coca-Cola’s Latest Facebook Gambit: URL Riddles
- Zuckerberg Likes App that Turns Facebook Into Pinterest
- American Express Program Offers Discounts for Tweets
- How an Online Documentary About a Ugandan Warlord Received 7 Million Views in Two Days
- Facebook Tips: How to Use the Social Network Like a Pro
- Send Beer Over Twitter
- A Day in the Life of the Internet [INFOGRAPHIC]
- How Brands are Using Promotions to Market on Pinterest
- Red Cross Launches Social Media Disaster Response Center
- Facebook SoLoMo-fies the Platform, Lets Apps Tag Friends and Places
- With Augmented Reality, Wallit App Assigns Virtual Walls to Physical Places
- Pinterest’s Founding Designer Shares His Dead-Simple Design Philosophy
- Why Marketers Should Embrace Facebook’s New Timeline for Brands
- 14 Ways New Facebook Betrays Small Business
- Facebook’s US User Growth Slows but Twitter Sees Double-Digit Gains
- Facebook Explains How Often Your Posts Actually Get Seen
- Unified Opens an Online University for Social Media Marketers