Converting Your Social Media Triple-Fs: Friends, Followers and Fans

I’ve heard many gurus, marketers and publishers brag about their social media followers. They’ll say things like, “Isn’t it great … I’ve got 10,000 fans on Facebook” or “I have more than 15,000 followers on Twitter.” Then I’ll ask them how many free e-newsletter subscribers they have. And they’ll reply, “I haven’t had time to build a list yet. I don’t have an e-newsletter.”

I’ve heard many gurus, marketers and publishers brag about their social media followers. They’ll say things like, “Isn’t it great … I’ve got 10,000 fans on Facebook” or “I have more than 15,000 followers on Twitter.” Then I’ll ask them how many free e-newsletter subscribers they have. And they’ll reply, “I haven’t had time to build a list yet. I don’t have an e-newsletter.”

Well, in my opinion, they’ve won only half the battle …

It’s fantastic that they have a following on social media—people who seem to be interested in their messages (posts) and their overall philosophy. They can certainly cultivate these relationships to assist in their marketing efforts. However, I remind these gurus that the “fans” are following them. It’s a passive relationship. And there’s an awful lot of background noise in a news feed that can distract their fans.

If you don’t have fans’ email addresses, then you cannot have one-on-one communications with them. Building and cultivating a list is a fundamental business strategy for sales growth.

In the publishing world, a list (email addresses of free or paid subscribers) is sacred. It’s one of the most valuable things you own. You protect it and treat it with care, because your list is your financial bread and butter. It’s made up of people—customers and subscribers—who can make or break your business through their purchasing power or lack thereof.

Your list is also your leverage—what you use when reaching out to other synergistic publishers and friendly competitors to do reciprocal JV (joint venture) swaps and revenue share deals.

So, if you’re an online publisher, guru or business owner who has social media followers but no list, you’re at a disadvantage. Initiate a plan to capture your fans’ email addresses immediately and get permission to open up the personal lines of communication.

I recommend that you make a special conversion effort to encourage social media followers to give you their email addresses, or, as we say, “opt in” to receive your marketing messages.

This typically involves creating strong promotional copy and a lead-generation landing page (also know as squeeze page), where the goal is to capture the email address of the friend, follower or fan.

The offer should be something that will resonate with your fan, such as a useful and relevant free bonus. Some popular examples are a whitepaper, e-newsletter or e-alert subscription, audio download, bonus video, webinar or teleseminar..

Some marketers also offer coupon codes or gift certificates in exchange for an email address or the option to be in a “VIP club,” where you’re the first to hear about special offers.

Freebies will vary based on what you have to offer in exchange. Ideally, this is something that has a perceived value and is immediate and relevant. You run the campaign for a two-week period at a time, mixing your conversion messages with your regular, organic daily posts. It’s ideal to drive traffic to specially coded pages so you can track traffic and conversions. You can also make sure your sign up box on your website’s home page is up and ready for stray organic traffic. Then you monitor email sign-ups and website traffic (via Google Analytics), to ensure list growth and traffic source referrals.

Aside from captivating copy, many variables come into play to make sure the effort is successful. These include making sure email collection fields are at the top, middle and bottom of the lead-generation landing page being used, as well as in a static (fixed) location on your website. There should also be links to your privacy policy and an assurance statement alleviating any concern about email addresses being rented or sold to third parties.

It’s also critical to clearly disclose before users submit their email addresses that opting in to receive your freebie also gives them a complimentary subscription to your e-newsletter (if applicable), along with special offers from time to time.

Finally, you should follow up with a series of autoresponder (targeted messages) emails welcoming your new subscribers, reminding them how they signed up, offering strong editorial content and special new subscriber offers.

These emails facilitate bonding; validate that the correct email was sent; ensures that the user is aware of the sign up; helps reduce false “do not mail” reports, email bounces and general attrition; and most importantly, improved life time value.

So before you get enamored with your Facebook following, realize that to monetize these names takes a conversion strategy. Once you start building your list, you’ll add a whole new value to your businesses valuation.

Email Marketing to Acquire High Quality Facebook Fans

How much are Facebook fans worth? The answer depends on the quality of the relationship between fan and brand. There is a low entry threshold to become a fan—all it takes is a click or two. When Facebook is the only connection, financial support is unlikely. The best and most valuable Facebook fans are the ones who actively support your business or organization across channels. They are the ones that will respond to promotions and share real experiences with their friends.

How much are Facebook fans worth? The answer depends on the quality of the relationship between fan and brand. There is a low entry threshold to become a fan—all it takes is a click or two. When Facebook is the only connection, financial support is unlikely. The best and most valuable Facebook fans are the ones who actively support your business or organization across channels. They are the ones that will respond to promotions and share real experiences with their friends.

Encouraging people who subscribe to your emails to join your social networks is a best practice because it significantly improves the quality of your fan base. The process is more challenging than it used to be because Facebook eliminated the option for custom landing pages. It can still be done, but there are a few issues with the experience. The email from Belk Department Stores (the first picture in the media player at right) provides a good example.

There are several components that make this a good email for motivating people to cross channels. They are the same items that make all emails more successful at generating a response.

  • The email includes a specific call to action with a reward for connecting via Facebook.
  • There are multiple opportunities to click and connect via Facebook and other channels.
  • The primary promotion is the focus while secondary options are available.
  • The offer is time sensitive.
  • There are clickable links for shopping categories.
  • A web link is available if the email images aren’t available.
  • Unsubscribe, preferences, and privacy links offer control to the recipient.
  • Alternate text for images to encourage people to download images or visit webpage

Three days after sending this email, 16,708 new fans have joined Belk’s network and 34,465 coupons were claimed. How could this be if “liking” the brand is required to claim the coupon? Remember the issues mentioned earlier?

The ability to gate the coupon disappeared when Facebook eliminated custom landing pages. It is technically impossible to require someone to like the page before receiving the coupon. This means that the coupon is available to anyone who visits the page and explains why more coupons were claimed than fans acquired.

If an email increases fans and sales, it is successful even when the two aren’t codependent. The loss of the custom landing page requires good communication on how to access the coupon. Clicking the link in the email takes the recipient to Belk’s Facebook timeline. Scrolling down is required to see the offer. Obviously people are finding it because thousands have claimed the coupon. The unanswered question is how many more would have been claimed if the offer were more obvious?

What if the Belk Rewards tab was temporarily replaced with a 20 percent off offer so it appeared above the fold?

The functionality of the Belk coupon promotion is provided by Facebook. When someone clicks “Get Offer” an email is sent with the offer code. Whether you choose to use Facebook’s advertising products or do it yourself, here are some tips for making it successful:

  • Follow the best practices used in the example email.
  • Tell people how to claim to coupon in the email.
  • Put information about the promotion above the fold so people see it when they land on the page.
  • Include the expiration date on the Facebook post to increase the sense of urgency.
  • Test different strategies and measure everything.

Measuring the results for fan acquisition is a challenge because there is limited data available. Email metrics are much easier to acquire. If you have good benchmarks you can gather enough information to gain insight to the results from fans and Facebook activity.

There is a tendency in social media to acquire quantity over quality. When the focus is the number of fans instead of the relationship, the return is minimal. The best strategy is to encourage top customers to cross channels and join your networks. They will share your information with friends and family. This introduces your company to the people most likely to support your business.

Building Your Facebook Community

In July, 2010, Facebook announced that more than 500 million people worldwide were actively using the social media site to connect with family, friends and, yes, increasingly, brands. While Facebook continues to evolve as a marketing platform, a growing number of marketers are looking to leverage this channel to engage consumers and build communities. But what are some of the secrets to success, and how can you leverage these best practices to build a powerful community of brand advocates?

In July, 2010, Facebook announced that more than 500 million people worldwide were actively using the social media site to connect with family, friends and, yes, increasingly, brands. While Facebook continues to evolve as a marketing platform, a growing number of marketers are looking to leverage this channel to engage consumers and build communities. But what are some of the secrets to success, and how can you leverage these best practices to build a powerful community of brand advocates?

Listen. Understand. Then frame the conversation.
Before attempting to develop a full Facebook fan page for your brand, first determine the nature of the conversation between your brand and its customers. When it comes to framing the conversation, the brands that build successful Facebook communities take their cues from their customers and don’t try to dictate or dominate the relationship. They do this by listening. Follow these tips to tap into multiple listening sources to uncover shared passions:

Brand audit. Type your brand name into Facebook’s search bar to take a pulse of the nature of the conversations already taking place about your brand.

Leverage traditional market research. Collect information about how your customers use social media, and what kind of content and conversations are important to them. Survey your customer base through database marketing, website intercept surveys and third-party research panels. Use focus groups to drill down into the attitudes and particular content, features and functionalities that will set you apart.

Listening tools. Use powerful monitoring tools to filter the immense amount of discussions and activity surrounding your brand, and to identify opportunities and key areas of interest.

Acquire and grow: Build your fan base. So you’ve identified a shared passion that will underpin your general community framework. Up next: building your base. The best acquisition strategies leverage existing customer touchpoints as well as opportunities within Facebook’s ecosystem. Take the following steps:

  • secure a vanity URL and make it easy to be found;
  • clearly define the benefits of joining your page;
  • invite existing customers via email;
  • offer something unique or exclusive, giving those who like your brand a reason to visit, engage with and recommend your page;
  • test different placements of the “Like” button across your existing digital touchpoints;
  • include your Facebook page’s link on relevant paid search terms;
  • include Facebook URLs/tags on traditional advertising efforts (e.g., print, TV, radio);
  • “favorite” related brands; and
  • test Facebook advertising.

Stir the pot: Engage your fan base. Once you’ve acquired fans, create a compelling experience that keeps them engaged and actively participating. Keep in mind that engaging your fans is a journey, not a destination. Do the following to keep fans engaged:

  • provide them with unique access to special content and/or offers;
  • create and test applications like polls, trivia, simple games and widgets, making sure the underlying subject of those applications syncs with the shared passion of your community;
  • shower your fans with public recognition;
  • encourage user-generated content;
  • rotate and target content (e.g., geo-posts) to keep it relevant;
  • think internationally; and
  • adjust your content strategy accordingly.

Build trust. Being open isn’t always easy. Many brands shy away from social media out of fear that their fans and followers may say something negative or turn on them. Deal with issues and problems in an open, transparent way. In fact, if you’ve done a good job offering value and engaging those who like your page, you may find they’re your biggest defenders. To build trust with your fans, do the following:

  • post a comment policy;
  • remove spam;
  • be transparent and authentic;
  • remain calm and think before you act (i.e., respond/post);
  • train and communicate your goals with those responsible for managing/engaging fans; and
  • build a corporate policy and communicate that policy internally so employees understand how to engage consumers in a transparent manner.

Have fun: Analyze and optimize. So, how do you know if you’re doing a good job? Tracking and analytics will help you get a handle on your page’s performance. Try the following tracking tactics:

  • use unique tracking codes for Facebook posts;
  • leverage Facebook Insights to understand activity and usage;
  • identify brand advocates and tag them in your database — you may even want to consider rewarding them for their support with bonus points; and
  • communicate your learnings and institutionalize them.

Finally — and perhaps most importantly — don’t lose sight of the fact that Facebook is an evolving platform. No one person can keep up with all the developments, so make sure you partner right. Find an agency and/or support system that’s well-versed on Facebook best practices and your brand, and has shown a proven ability to engage consumers.

A Facebook Fan is $136 in Lifetime Value, $3.60 in Media Impressions

The lifetime value of a Facebook fan is about $136 to top brands, according to this study on Facebook fan lifetime value from Syncapse and Hotspex. Another study, from Vitrue, comes up with a media impression value per Facebook fan of about $3.60. From either angle, having a framework to talk about the ROI of Facebook fan investment is priceless.

The lifetime value of a Facebook fan is about $136 to top brands, according to this study on Facebook fan lifetime value from Syncapse and Hotspex. Another study, from Vitrue, comes up with a media impression value per Facebook fan of about $3.60. From either angle, having a framework to talk about the ROI of Facebook fan investment is priceless.

Ad Age has a good comparison of the Facebook fan studies and their methodologies. The Syncapse/Hotspex study didn’t term the metric lifetime value, but that’s what the study tried to get at by surveying fans of the biggest brands on Facebook and analyzing their self-reported behavior and future plans in terms of product spending, loyalty, propensity to recommend, brand affinity, media value and acquisition cost. It’s a dollars and cents analysis.

Vitrue (whose social media blog is worth checking out, too) looked instead at the value of media impressions made through a site’s news feed and evaluated that on a CPM basis, basically calculating the PR benefit, and came up with a number around $3.60. Vitrue also provides an app that lets anyone calculate the value of a Facebook page.

Vitrue’s evaluation of your Facebook impressions is valuable information, but the Syncapse/Hotspex survey is a model for how e-marketers are starting to count Facebook fans, especially as Facebook e-commerce apps (f-commerce) are making the network a stand-alone selling channel. Facebook is becoming almost an internet within the internet, and such evaluation is the best way to justify investing in it.

Melissa Campanelli’s The View From Here: How to Enjoy March Madness at Work (Thanks, Web Technology!)

As a die-hard sports fan, not to mention college basketball junkie, March is gluttony at its finest. I’m not alone in my revelry. Round-the-clock action serves as a rite of spring for sports fans across the nation, who are rooting on their alma maters, local universities and, of course, whomever they’ve penciled in to their brackets. But with the “madness” comes a real dilemma: How do you watch the games when they’re being played in the middle of the day during the workweek?

This week we have a guest post in my spot: Joe Keenan, senior editor of All About ROI and eM+C … and sports fan.

As a die-hard sports fan, not to mention college basketball junkie, March is gluttony at its finest. I’m not alone in my revelry. Round-the-clock action serves as a rite of spring for sports fans across the nation, who are rooting on their alma maters, local universities and, of course, whomever they’ve penciled in to their brackets. But with the “madness” comes a real dilemma: How do you watch the games when they’re being played in the middle of the day during the workweek?

Worry no more. CBSSports.com has got you covered — and without the risk of getting caught. (CBS is the official broadcast network of the NCAA Division I Men’s Basketball Championship.) While the site has broadcast live streaming video of NCAA tournament games since 2004, helping stranded office workers like me keep track of the action, the threat of getting caught by the boss was always a deterrent hanging out there.

Enter the “Boss Button,” a tool that when clicked hides the live video action on the screen and silences the audio, replacing it with a “business-like” image. Slacking off at work has never been made so easy.

Designed by cartoonist Scott Adams, creator of the Dilbert comic, the boss button was first rolled out in 2009 to more than 2.77 million clicks. The functionality has been redesigned for this year’s tournament, and sneaky office workers have taken notice: The button was clicked more than 1.7 million times on the tournament’s first day alone, more than 60 percent of the total clicks of the boss button for the entire 2009 tournament.

And there’s an entire contingent of fans out there who are watching the action apparently without repercussions. Consider the following traffic statistics released last week from CBSSports.com:

  • 3.4 million hours of live streaming video and audio were consumed by 3 million unique visitors to the NCAA March Madness on Demand video players on the first day of the tournament last Thursday, a 20 percent growth versus 2009 — both numbers represent the largest single day of traffic for a live sporting event on the internet;
  • 2 p.m. to 2:59 p.m. ET was the most watched hour last Thursday with 533,000 streaming hours (16 percent of the total for the day), peaking at 2:45 p.m. with 147,000 streaming hours; and
  • the most watched game from last Thursday was the double-overtime Florida vs. BYU game with 521,000 hours of streaming video and audio, a 50-plus percent increase over 2009’s most watched game from the first day of the first round (Washington vs. Mississippi State).

“The continuing evolution of NCAA March Madness on Demand gives our fans even more reasons to stay connected to the tournament on a daily basis,” said NCAA Senior Vice President for Basketball and Business Strategies Greg Shaheen in a CBSSports.com press release. “Tremendous first round games, enhanced features in the MMOD player and solid early traffic numbers all point towards an exciting few weeks to come.”

Has your company found success streaming video online? How about implementing a special functionality on your site such as a boss button? Tell us about your experiences by posting a comment below.