When marketing consultant Scott Stratten worked with the owners of a new restaurant, he recommended inviting residents of a nearby condo complex to a free dinner. Over two nights, the owners could get 150 people to start the buzz about the new restaurant in town.
But the owners balked at giving away free food, which they estimated would cost them several thousand dollars. Yet they had spent $5,000 on a magazine ad!
“How many customers did it bring in?” Stratten asked. “We don’t know,” they replied.
Both social media marketing and direct response marketing place a focused pitch on the right list (prospects) and understanding what they want in order to engage them with relevant information that will get them to buy from you.
So why are social media and direct response considered mutually exclusive?
Jonathan Fields, author of Career Renegade, put a stake into the hearts of social media “purists” when he said, “Those making the most money with social media marketing today are doing so by turning it into direct-response 2.0.”
After all, would YOU do business (knowingly) with a sketchy person?
But with the rise of social media comes new challenges for businesses of all shapes and sizes, especially when it comes to reputation: Who knows you and what do they know you for?
Are you helpful? Are you a great person to do business with? Are you a trusted resource or a product pusher?
Consumers have developed extremely sophisticated filters. As a marketer, you’re fighting that filter every day.
So he set up a Facebook fan page with the help of his parents. In just one week, he got more than 1,200 fans and raised $400!
“I can understand using Facebook for a fifth-grade science project,” I hear you saying. “But how do I use Facebook to market my business? I keep hearing that I should include social media in my marketing campaigns, but I don’t have a clue how to do that.”
I recently interviewed Andy Sernovitz, founder of the Social Media Business Council, an organization that includes many of the world’s largest brands such as Cisco, Coca-Cola, General Motors, Microsoft, Proctor & Gamble and Wells Fargo, just to mention a few.
Whether you’re planning a real-world event (like a conference, tweetup or political gathering) or a virtual event (like a webinar or teleclass), social media can be an inexpensive, cost-effective way to build buzz, fill seats, and turn a one-off gathering into a recurring event.
An Illinois senator who was virtually unknown in 2004 defeated Hillary Clinton in 2008 to win the Democratic U.S. presidential nomination.
And he used social media to do it.
His YouTube videos got 110 million views, estimated to be 14.5 million hours of viewing. Mass media advertising to reach that many viewers would have cost $47 million.
A famous rapper made a promotional video that gave him even more free publicity.
At the time of the election, he had five million fans on Facebook — over four million more than his opponent. On MySpace, the numbers were approximately 800,000 and 200,000, respectively. On Twitter, he had over 100,000 followers and his opponent had about 5,000.
Have you heard of Joseph Campbell?
He was the famous mythologist—author of The Hero With a Thousand Faces and many other books—who told us all to “follow your bliss” in his Power of Myth PBS specials with Bill Moyers in the late 1980s.
“That’s all well and good,” you may have thought at the time. “But I have to make a living. How do I make money by following my bliss?”
If you’ve been asking that question for the past 20 years, you’ll be happy to know that someone has finally answered it. Gary Vaynerchuk has written a book to teach us how to make money by following our bliss.
Many of you may know Vaynerchuk as the host of the video blog WineLibraryTV.com. Now he has written a book titled Crush It! Why Now Is the Time to Cash in on Your Passion.