In order to be successful, social media marketing must be thoughtful and engaging. Through lifecycle marketing, Social Compass uses a patent pending SaaS (Software as a Service) platform to develop conversational relationships online.
We combine human capital with marketing automation to reach out to relevant leads, reply to them with a coupon, and reward them for sharing it with their friends. In comparison with more traditional marketing that uses complex targeting to reach demographics and psychographics that might be interested in their product, Social Compass engages consumers with high purchase intent by actually listening to their conversations every 180 seconds and replying to them with an offer.
This yields a much more meaningful marketing transaction, and therefore greater lead generation and much higher conversion rates. Because leads are targeted through conversations, cost per lead is much lower that advertising with a more massive reach, like TV commercials or online banners.
According to Cone Research, 97% of Americans say they are more likely to try a product or service if a social network friend recommends it. When potential customers enter the Lifecycle and share the coupon they receive with their friends through gift card incentives, results are compounded. One lead could generate 100 more.
So, what do the numbers say?
- The methodology at Social Compass yields a current average conversion rate of 16% (Source: Social Compass Internal Metrics). This rate includes B2C and B2B clients.
- Social Compass’s greatest success has been in the casual dining industry, where conversion rates reached their peak at a whopping 78% (Source: Social Compass Internal Metrics).
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A great way to implement a lifecycle marketing campaign for your small- to medium-sized business (SMB) is with SocialCentiv. Our Twitter marketing software helps SMBs “listen” to real-time social media conversations, initiate a conversation, and share special offers.
This post was written by SocialCentiv Contributor Kristina Kopplin.