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If You Don’t Get This, You Don’t Get Social Media (Infographic)

by Lori Taylor · 7 comments

 

lori r taylor, revmediamarketing, social media, social media marketing, branding, product branding, networking, oneclicksociety, social caffeine, mobile marketing

Social media has been a real game changer for agency and customers alike. In fact, I like to call it the greatest game for playing marketing “chicken” ever.
You know the game “chicken” right?
It’s pretty simple…

You get two cars racing straight for each other seeing who swerves first. Not super smart, eh? Not only that, it’s scary too.

But when I’m in a social media pitch meeting, it’s how I feel some days.

Except in this game of “social media chicken”, the cars are going maybe 10 miles an hour, because neither the agency or the client knows for sure when to actually swerve. Each side – posturing to the other ” we got this”, we know what we’re doing…Why the games?

Because even though social media is a game changer – it’s also a game that is always changing.

Which means, it’s impossible for anyone to maintain true expert status in the field.And if you have any experience at all actually executing a campaign to gain “earned media” without a paid media budget to support you the you also know this…

Social media is NOT the BEST acquisition tool, contrary to popular belief.

With 20 years experience as a direct response expert, I know better. And as a person who led the marketing team for the largest customer loyalty card launch in the country for the national grocery chain, Kroger – I will tell you this…

Social media is an awesome customer loyalty vehicle.

(Note I didn’t say “tool”. It’s a platform or a channel, but it’s not a tool anymore than TV, radio or print is a “tool”. ) In fact, Jay Baer from Convince & Convert and I discuss this in more detail in our interview or download the entire transcript (here).

Social media is one of the best channels you can leverage to increase your lifetime customer value.

(If this sounds like french to you, please read this article at The Brand Builder by Olivier Blanchard, who also gives you an amazing info graphic to break down how to calculate lifetime value of a customer.)

And that’s the name of the social media game folks!

If your client thinks Social Media ROI is attached to a positive in the profit column for customer acquisition, then you have lost before you hit the gas pedal.

Think about it – any seasoned marketer would tell you if that’s the case – it really would be the holy grail!

Because very few, even the best, marketers make money when they “acquire” a new customer.

The truth is…Money is made from customer retention which comes from outstanding value delivered by over the top customer service.

As this infographic shows, your real opportunity to impact the bottom-line using social media.

According to a study from American Express in May 2012, “Sharing of customer service stories is on the rise among the general population, with the typical American telling 15 people about positive interactions, vs. 9 just one year ago.”

 

Check it out – and please tell me if you’ve used social media well to reduce your cost of customer service or improve your level of customer service. Or both.

You tell me!

Please leave a comment here or at my Facebook page at [link] And if f you liked this post I’d really appreciate it if you would share it with at least one person who it could really help!

Lori Taylor

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{ 5 comments… read them below or add one }

Sam Enshaw May 16, 2012 at 7:06 pm

Great piece thank you and really enjoyed the info graphic on calculating LTV

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Lori Taylor May 16, 2012 at 7:50 pm

Thanks same. Olivier is awesomely smart. 🙂

Thumbed faster than you can think on my iphone but my eyes are bad so I don’t know what autocorrect did – my apologies

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Anneliz Hannan May 17, 2012 at 2:45 pm

Nice job Lori, the section that depicts ‘83% of social media users walk away’…reminds me of the PacMan eating up the customers!

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David Thalberg May 18, 2012 at 6:35 am

Great infographic, Lori. I was trying to explain to my financial adviser yesterday why Facebook is important to business and can drive revenue. Will share with him

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Lori Taylor May 22, 2012 at 7:11 am

David how are you? I was thinking of you because I’m working on a project for anti-aging and I know your wife is the queen of Estee Lauder. LOL. Hope all is well thanks for always stopping by it means a lot!

Lori R. Taylor
Founder & CEO Of REV Media Marketing llc
2012 Forbes Top 50 Social Media Power Influencer

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“Be in service to someone for something every day of your life!”

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