As marketers allocate more dollars to social, they are raising the bar for what they want from these investments. We’ve already noted here how a growing number of executives are moving towards ROI-driven success metrics for their social marketing budgets. As they should be.
So what’s the next step in increasing their social ROI?
As with all marketing channels, segmentation is key. Traditionally marketers segment by things like demographics, spending behaviors and geography. When they fold in the element of social, they gain new insights into their brand social graph.
Specifically, our platform allows you to identify and track not only what your brand fans and customers are liking, but what they are saying, to whom, across what channels and which are generating the best responses.
To see how this plays out, let’s look at our client, SendGrid. A B2B provider of cloud-based email delivery applications, SendGrid already knew its customers were generating leads, but lacked a formal structure to capitalize on this word-of-mouth.
They worked with us to implement and fulfill a program awarding each customer $20 for each new referral to SendGrid, and 25% off for the new customer.
Customers can promote the offer just about any way they deem best – a Tweet, a Facebook post, an email, etc.
It may not be surprising to learn that nearly ¾ of the referrals from the program have been shared via email; after all, SendGrid is in the email business. What really grabbed our attention is the conversion rate: over 90% of actual conversions generated by our program are via customized URLs which can be embedded in an email and, in the case of SendGrid, have also been very successfully used by the blogger community.
It turns out that in the B2B world, many businesses get their information from bloggers. SendGrid’s program is a great way for these information providers to not only generate business for themselves, but also increase their expertise by recommending a service that they as business owners are using. Because readers are already looking to bloggers for specific, actionable business advice, an endorsement on a blog tends to generate impressive conversion rates.
It’s not surprising, then, that eMarketer lists bloggers as one of the most effective social marketing channels. Which isn’t surpising: just one URL from a blogger gets recognized by a targeted, motivated audience.
Of course, the eMarketer analysis reminds us that bloggers are also among the most difficult to manage. We’re thrilled to support SendGrid in cracking that valuable conversion nut.