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Making Money with Social Media Contests

Tuesday, November 15th, 2011

If you want to take advantage of social media tools, and see some measurable returns on your investment of money and time, then you just need to plan.

A campaign that features some incentives (prize draw, coupon offer) is the fastest way to generate social media activity, and it really isn’t hard to make a social media contest a profit center.

@WildfireApp‘s Maya Grinberg recently wrote a post over at HuffPo about this very thing, giving five examples of customers that have used the Wildfire platform as a money-maker. I like the Duck Tape example, in #5: Use a sweepstakes to drive people to your coupon (it works in reverse, too).

Or, consider example #3, in which Zappos offered a chance to win a $500 gift certificate to anyone who filled out a “wish list” of what they would buy if they won. I don’t need to tell you- this stuff works. Some of those gift registries convert to real sales.

Still the best example of this that I have seen is Crate & Barrel who, working with their agency Phenomenon and using a customized contest site built on the Strutta platform, host the Ultimate Wedding Contest. To date, the multi-year promotion (photo, story and required gift registry of $2K of more) has yielded $10s of millions in Gift registrations. Even at conservative conversion estimates, their returns are in the millions. And all because they had a plan. (Kudos, Phenomenon)

Insert your insanely compelling offer here.

Ideas like these can work at any scale, and your options for execution are many. Just tap into what your community really wants, and what they’ll respond to. Earlier this year, the gang from Pinpoint Social ran a campaign with Putting Edge, an indoor mini golf company with 20 locations. They quickly doubled the size of their Facebook community, got a 50% redemption rate on their coupon offer and drove in an extra $15,000 in business in February; traditionally one of their slowest months.

Stop thinking about marketing as an expense, and start taking a look at what you can do to turn it into a revenue generator. If you struggle, drop us a line and we’ll be happy to give you a hand.

Learning to Share

Thursday, August 18th, 2011

My kids have just turned three and one, respectively. For the first eight months of my daughter’s life, I was at home caring for both her and my son full time. It was the most challenging, and at the same time the most rewarding thing I have ever done.

As a “stay at home” parent, you are blessed with a lot of time to wander off in thought, but cursed with a lack of time to act on anything but pressing kid emergencies, and hopefully the odd shower. (You will thank me for sparing you the gory details of parenthood, all ye non-breeders). This is not a job for the faint of heart, but if you are full of heart, there might be no better feeling in the world than to care for one’s family and watch them grow. To see yourself reflected in your children’s eyes, literally and figuratively, is a pleasure that I cannot express with mere words. My wife and I thank each other every day for this blessing, and for each other’s support.

In observing them playing together: the inevitable hair pulling, push-and-shoves and tantrums eventually give way to hugs and sharing. They enjoy themselves so much more during those times, and it is much quieter in the house. It’s a bit funny to me, that observing the actions of toddlers has given me some insight as to how to be a better man.

This time of reflection has helped me realize a lot about myself, what is important in this world, and what I want out of this life. For one, I too am happiest when sharing, so I have committed to spending more time helping others, whenever I can. It is this same commitment to a life of service that helped me realize it was time to return to my business as well. This is where I am at my best; helping companies discover their “voice” and tell their stories, and getting tangible results that we can bring to the bank. Sharing is at the heart of what I teach, and I am committed to “walking the talk.”

My years at Strutta were fun, educational and above all, by virtue of all of the entrepreneurial activity happening around us, inspiring. I owe a debt of gratitude to every team member and office mate, past and present, and every client I had the pleasure of working with. Thank you for everything you taught me; for the opportunity to put so many of my ideas into action with some of the world’s most famous brands, and to work alongside some of Vancouver’s most promising startups. I have made friends that I will certainly keep for life, and that is what is truly important.

And so, to make good on my words about sharing and a life of service, I offer myself to you, dear friends. If you have a question about something I can help with; be it about social media, online business tools, parenting, how to bake and decorate a kickass birthday cake, where the fish are biting, or even how to cope with the onset of grey hair, drop me a line. Ring my phone (778.840.8355), send me an email, leave a comment below or hit me up on Twitter. I’m back, and I look forward to connecting with you.

As always your friend,

Jordan

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What is the ROI of Social Media?

Friday, August 12th, 2011

It is a question we hear a lot. We usually say that this question is akin to asking: “What is the ROI of customer service?” Because effectively, they are one and the same, and every business will have a different answer.

“Social media” is our current term for the tools that we use to communicate on the internet. That’s it and that’s all. Yes, there are certain etiquette to follow, and each tool comes with its own learning curve, some even with their own syntax. But if you are looking for a strategy as to how to use those tools, the safest way is to simply create the digital equivalent of your company’s existing customer service policies. It sounds simple, because it is. Social media is, after all, real life. ‘Xcept on the internet. When you talk about yourself too much, people get bored of you. Put your own interests ahead of your customers? A competitor is gonna eat your lunch. Got caught in a lie? Time to make good, right now. The rules are the same, only the tools have changed.

With that aside, we have the great pleasure of being able to tell you that if you want it to, social media can help have a direct effect on your bottom line. Not unlike the way great customer service strategies can help boost profits, a good social media plan can lead to more sales, leads, referrals, testimonials or whatever goal you set for your business. But you have to do it right.

Offer Value First, Get Loyalty in Return

So how do we use social media to make more money? To put in the simplest of terms: we take advantage of the scalability of these to tools to offer a lot of value to a lot of people. We offer so much value, that when we ask for something in return, we get it. And what’s more, we stay connected to our entire community, especially those that want to hear from us on the regular. That builds loyalty, and loyalty leads to evangelism, referrals, and repeat business. And let us not forget that these tools can be used for sales prospecting and follow-up, coupons, monitoring competitors, online contests, and promotions of all kinds. Let us also bear in mind that these days, customers expect to be able to connect with you online. If you are silent, your are conspicuous.

Taking that first step to a more active online presence can be a bit scary, and if mishandled, truly risky as well. But if you have a plan that includes offering value first, you can win at this game we call social media.

Have questions about how we can help? Hit us up in the comments, or contact us.