Social media monitoring and lead generation: maximizing ROI

Graphic social email marketing In today’s market, people are creative in avoiding all the traditional marketing schemes. They simply search for keywords and find what they are looking for more specifically. As I wrote before, from ‘push’ to ‘pull’. In other words, today’s society is more to the point.

If you are trying to maximize the return on investment (ROI) of your generated leads, you may want to try a few key concepts that I found in a white paper from Alterian.

Building effective organic search engine optimization (SEO), will allow you to “be found” by (potential) customers. The social networking tools out on the market provide huge user bases and social media monitoring helps with the interaction to those bases.

For example, Dell produced roughly $6.5 million dollars from their interactions with Twitter. The digital world is about trust and relationships as it becomes more and more social. These are the core principles to sales but the web now lifts previous geographical limitations. The web consists of research grounds for business-to-business sales as well as business-to-consumer sales.

The (social) web is a rather large place and narrowing down your marketing needs to meet the needs of your consumers is often the biggest challenge. Social media monitoring allows for a simpler process in identifying your target audience based on your products/services and the keywords associated with your industry.

This allows for you to join in on the online conversations relating to your industry and draw attention to your services. With presence, relationships are built and you will reap quality leads.

It all starts with participation

When you are engaging in the social networking tools, remember to participate. Inform people of your products and services. Thank other people that promote your brand and services. Also share your ideas and get involved in the dialogue.

If you have upset customers, apologize and try to resolve the situation.

Channel responses for different topics so that vital information is not lost in the mix. For example, product improvement suggestions and sales opportunities should be directed to two different locations.

Maximizing lead generation

When you generate leads, you want to maximize your return on investment. There are several outlined methods to using social media monitoring to do just that.

They include:

1) Identifying when people in some way or another express they are interested or have a need for your product or service.
2) You should create profiles for your customers
3) Try to limit cold calling
4) Try to lower you acquisition costs
5) Use cross selling and up selling to increase your revenue
6) Your marketing efforts should align with your sales goals

The modern-day social web has created a plethora of resources for optimal lead generation.

The social networks that exist are a wide open market for business to market their products and services to other businesses as well as to consumers.

Social media monitoring assists in identifying new markets, placing content around the web, monitoring similarly related conversations and greatly contributes to word of mouth advertising.

This will reduce your cold calling, shorten the sales cycle length and lower your acquisition costs. Social network participation will also increase your up selling and cross selling.

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