Red Door Interactive convened its first panel of 2010 to discuss the use of social media to accelerate the customer lifecycle. Moderator Scott Esmond of Red Door prompted the panel to discuss the impact of social media at each stage of the customer lifecycle: acquisition, conversion, and retention/loyalty.
The panelists at the event were:
- Tony Felice: Red Door Interactive : Data Insights Strategist
- Brian England: Western Union : Marketing Manager, Social Media Strategist
- Beth Leleck: ExactTarget : Email Marketing Manager
- Joe Rogel: Gaiam : Social Media Strategist
To the topic of acquisition, the panelists generally agreed that social media is no longer an optional but rather an expected piece of the marketing puzzle, as consumers seek more direct channels of communication with companies. If brands choose not to engage themselves, their customers will still get and in many cases trust information from social networks, and the brand will just not be party to this conversation. In the early stages of a social media strategy, Felice noted listening to be an important element to understand both the tone of the conversation as well as to identify the key influencers. A free tool for this purpose is provided by socialmention.com. Leleck noted the importance of identifying the social media where your customers and potential customers are most active to maximize impact.
Beyond just a presence on social media, companies are increasingly looking to social media as a way to convert and retain customers. Both Rogel and England commented on the need to balance strictly promotional activities (special offers, coupons) with other content, such as informative articles or a discussion of philanthropic work. While promotional offers and deals can be effective calls to action, many consumers do not see social media as a place to be bombarded with advertising messages. Felice commented on the importance of tactics that “bring traffic back to a place where they can make a conversion.” In the same vein, Leleck cited the importance of incorporating social media campaigns and goals into larger brand goals. Other panelists provided anecdotes regarding the opportunities to create vocal brand advocates through social media by addressing concerns and complaints, highlighting the ease and speed with which sentiment can change in the social media space.
When asked about expectations for the future of social media marketing, the panelists focused on ways to better measure return on investment, a field that is still in its infancy but expected to advance in the near future.
Red Door expects to hold six panel discussions throughout 2010 with the next event planned for March. More details are forthcoming.
