Do you want to figure out how to drive revenue from existing customers through the social channel?
This post will give you 5 tips to gain more revenue from your existing customers using social media.
Why Focus on Existing Customers?
For many companies, connecting with their existing customers is a natural fit for social media. These companies are seeing conversations about their brands, their competitors and their industry that provide them with an opportunity to engage others in dialogue.
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. We’ve seen excellent examples of this with Comcast and Boingo, which have successfully addressed customer concerns through social media.
Here are some important points to consider when thinking about social CRM.
- Social CRM is first a strategy that is often supported by various tools and technologies. The strategy is based around customer engagement and interactions, with transactions being a byproduct.
How well do you really know your audience? Do you know their likes, dislikes, needs, fears, wants, and challenges? Getting to know and understand your customers and prospects is the key to growing your business.
With the rise of social media, the importance of knowing your audience has taken center stage. When you listen to your audience, your one-on-one engagement on social sites becomes effortless and ultimately you are able to deliver exactly what they want, when they want it. The real-time element of social media makes this possible. With simple online surveys you can take your social media program to an entirely new level.
In this video I interview Alex Wheeler, Director of Digital Strategy at Starbucks. Alex shares how Starbucks built a Facebook community of over 7 million fans by asking their community to help them build their official Facebook page.
Alex gives you some useful tips on engaging customers on social media. And you’ll hear details of how Starbucks uses video marketing on different social media channels.You’ll also find out what Alex refers to as their “scrappy” approach to social media.
Be sure to check out some more takeaways below.
A lot is happening in the world of social media. Here’s a quick summary of recent major research findings:
#1: By 2010, 26 Million (1 in 7) U.S. Adults Will Use Twitter Monthly
A new study by eMarketer surpasses their previous estimates of Twitter usage. The study, conducted just last month, found the following: “In 2009, there will be 18 million U.S. adults who access Twitter on any platform at least monthly. That represents a 200% increase over 2008 levels. Usage will reach 26 million U.S. adults in 2010, a further 44.4% climb.”