I rarely see people get ramped up about a subject like they do about social media. I think it’s because it is so CLEARLY powerful, and yet really still in its infancy; so people realize there is potential behind its use that is far from being tapped out and we are captivated by it. So few are experts in this topic of how to use it appropriately, that we as sponsorship professionals are frothing at the mouth for quality information on how to use it effectively to increase the value of our brand or property and the value of our partnerships. I believe that we have entered a season where social media is moving from a nice cherry on top of the cake to fast becoming a nonnegotiable; a MUST in sponsorship activation and ROI measurement. It cannot be ignored, and it is not going away. So either be crushed by it, or harness the beast and use it to your benefit.
If you want a little pep talk on this topic, check out this video by socialnomics on YouTube: Social Media ROI.
By the way, as a side note, socialnomics.net rocks! If you want to learn from a brand really passionately fired up about social media – this is a good place to go. The first time I saw their social media revolution video (which not surprisingly went viral in no time), was at an IEG conference – everyone in the room was floored by the end of the video. Rule of thumb – always seek to learn from passionate people.
But back to the point – I made the point a few short weeks ago that people talk – and that talk is powerful; and that we should be both aware of the fact that it WILL happen, and use our resources optimally to provide outlets for positive chatter. “You can’t just say it. You have to get the people to say it to each other.” – James Farley – CMO, Ford.
Let’s now dig in further. One of the points the above video states is that company sales with the highest level of social media were up 18%, and the company sales with the least social activity were down 6%. I realize the economy is rough, but we’re all on the same playing field here… clearly social media is making a difference in consumer sales, it can also make a difference in the way you market you’re your property/event/program/partnership. Here are a few points to consider:
- Invest some dollars. It’s a myth that quality social media engagement is free. The resources and the environments you portray your brand/property on are free – but the engagement and interaction take quality and intentional marketing efforts. You can’t just hire an intern to positively and accurately represent your brand to MASS audiences. At least, you’re taking a big risk if you do. Another quip from the video applies here: “25% of Ford’s marketing spend is on Digital/Social Media. They are the only US auto company that didn’t take a government loan.” Wowsa! 25% of their marketing dollars is BIG cash. And it clearly paid off… Here at SponsorPark we allocate a portion of our marketing budget for social media as well – and the truth is that we participate in interactions of some sort daily with our efforts.
- Be consistently present. I like to quote our social media consultant, Maren Hogan, on this one “the dirty little secret of social media is relevant and constant activity” (presence); and “it’s not hard to attract an audience; it’s hard to keep an audience.” This means having a voice – if you tweet once a day at 7:00am CST, there’s a whole world who’s checking in an hour later that will miss you. Use tools to be found in relevant circles – do you use the #symbol to be found by targeted groups? If you don’t know what this is, do your homework on the twitter website; or better yet, hire a consultant or take a webinar and get some training. But you have to hop on twitter/facebook/LinkedIn more than once a day for 5 minutes to establish this community. And keep in mind that you must be authentic to retain a following. Authenticity is another buzz word in marketing today. Today’s consumer wants to relate to you; they want to talk to the brands that “get” them, and who practice transparency. Use your smart phone to tweet between appointments, find relevant news feeds, offer incentives, encourage interactions in order to become a voice to be followed. Do this throughout your day, and you’re bound to be noticed by influencers – your target audience. Don’t have time? Most of us don’t – hire someone.
- Use established communities to generate awareness and drive support for your efforts. This marketing can go viral fast with the support of followers who care. The Barak Obama campaign generated millions of dollars through social media and we know how that effort turned out. Another video quote: “Tweets for a Cause sent out a tweet from Atlanta to encourage support of Susan G. Komen for the Cure; retweets from @mashable, @G_man, @zaibatsu and others caused Atlanta Chapter to receive 11,000 visitors in 24 hours.” Here’s the catch – if you send out a tweet like this on your own without establishing quality followers or using a credible mouthpiece to “toot your horn,” your tweet will die in its tracks. The good news is that it has never been easier to locate and connect with like-minded influencers. Identify keywords within your industry, use them in your interactions; identify the major influencers who could be your mouthpiece – connect, engage, share. We have found LinkedIn to be one of the most effective avenues to connect to likeminded professionals. You’ll have to discover for yourself what community is most valuable to you and your own efforts.
The other great news is that you can literally use this fabulous resource in nearly all aspects of your sponsorship efforts. Activation of your partnerships should be fully supported on your social networks – use those mouthpieces – fulfillment reporting should quantify just how much extra exposure was generated through you online presence, your blogs, your press releases, your tweets! If you talk to any sponsorship service provider who focuses on ROI reporting, they will ensure you speak to your social media efforts.
So gear up – and start some engaging talks… er, tweets!