- By the Numbers
- Microsoft’s search engine “Bing” now commands 30% of the search market. (Source: Mashable)
- Financial mobile ad spending boomed 314% from 2010 to 2011. (Source: AAAA)
- NBA is first sports league to get 5 million Twitter followers. (Source: Mashable)
- Social Media: Social Media-Savvy Consumers Have High Expectations for Customer Service One in five consumers (17%) say they’ve used social media at least once in the last year to obtain a customer service response. Although this is a relatively small group of consumers, they are extremely engaged and vocal. This group says they’d spend 21% more with companies who deliver great service, and tell three times as many people about their positive service experiences compared to the general population. In addition, more than 80% of these consumers say they’ve bailed on a purchase because of a poor service experience, compared to 55% overall. The “Social Top 5” activities for Americans who have used social media for customer service are:
- Seeking an actual response from a company about a service issue – 50%
- Praising a company for a great service experience – 48%
- Sharing information about your service experience with a wider audience – 47%
- Venting frustration about a poor service experience – 46%
- Asking other users how to have better service experiences – 43%
Significance to Colgate: More and more consumers are turning to social media, not only to access customer service, but to share their customer service experiences. Outstanding service clearly encourages brand advocacy among social media savvy consumers, who can serve as a powerful marketing weapon for Colgate. Ultimately, getting service right with this group can help CP’s business grow.
- Mobile: TNS reveals big opportunities for business as location-based services go mainstream
Savvy LBS users have realized that there is something to be gained from sharing their locations with brands and retailers – with one in eight (12.5%) sharing their location in exchange for a deal or special offer. Beyond current users of LBS, a third of people globally (33%) who already or would like to use mobile voucher schemes, highly rate receiving deals when they are nearby a store that they like. One in five mobile users (21%) stated that they find mobile advertising interesting if it is offering them a deal near their current location.
Significance to Colgate: People are recognizing that sharing their location often offers some kind of reward in terms of a discount or deal. It is the combination of time and context – directing people towards a deal when they can easily redeem it – that unlocks a powerful tool for marketers and brands to develop precise targeting approaches. Colgate should explore LBS opportunities with key retailers as a way to reach its consumers at the most critical moment in their path to purchase.
- Social Media: 5 Ways Social Media Can Increase Your Revenue From Existing Customers
There are two types of strategies that revolve around existing customers on the social media channel. The first is to offer customer service help through the social channel. The second is to attempt to increase value to the customer experience through the social channel. The value of the customer base for companies is substantial. We’ve all heard that it costs more to get a new customer than to keep your existing ones. So it makes sense that we would see more companies developing strategies to engage customers with the social channel.
- Give Customers Incentives for Making More Frequent Purchases
- Give customers a reason to spend more at each purchase
- Combine email marketing offers
- Educate your customers about your other products and services
- Provide consistent value
Significance to Colgate:
Creating an online experience that is fresh and informative for existing customers as well as potential customers is a target many industries aim for. Using the extremely cost efficient social channels to increase revenue is a smart move but must be executed delicately. Destroying the conversation with a deluge of sales pitches can stifle the experience.
- Social Media: 5 Steps to Hosting Successful Twitter Chats: Your Ultimate Guide
For those that do not know, a Twitter chat is having a public conversation with any and all who include your chat specific hashtag. This is a fantastic opportunity to promote your social media presence, get instant feedback and to create a community behind your business. The endgame for this is to create a following of brand advocates. The five steps outlined in the article are:
- Understand how it works
- Form your plan
- Announce and promote your Twitter chat
- Run your Twitter chat
- Summarize, Archive and Analyze
Significance to Colgate:
Trending hashtags can create massive levels of engagement that can be followed in real time. Knowing how to create this conversation environment can lead a brand to the creation of an active community that is just a tweet away.