Yesterday I had the priviledge of attending the Social Media Innovations seminar (#smatlinv) hosted by @IHG through Social Media Week Atlanta. Did you know Atlanta is the second most wired city in the country and the fifth top Twitter city? Just in our local area, there are a multitude of opportunities online that so many of us are overlooking or trying to tap into.
The panel was a great mix of Atlanta-based agency-types that, while they all deal in social media, serve varied functions and were able to offer unique insight.
- Don’t let your company settle for just having a website, said Scott Lockhart from Regator (@scott_regator). For instance, they have two iPhone apps, custom widgets AND a website. I would add that you shouldn’t just create media where there are no opportunities, as in make sure their is sound strategy for creating those interactions.
- The paid->owned->earned model works great even on Facebook, said Yvett Evans from Vitrue (@yvettevans). Eighty-five percent of Facebook user time is spent on wall updates, and by gaining fans then placing client coupons/deals on audience walls, they have seen a 63% redemption rate, (pretty phenomenal if you ask me).
- People like sharing that they’ve made a donation, said John Beisner from Twitpay, an Atlanta start-up that makes online and timely giving easy to do, as well as easy to share with friends, (a great thought in the wake of Nashville floods, Gulf Coast oil spills and Hurricane Katrina).
- Invest in extensive tracking to understand your fanbase behavior so you can better incentivize them accordingly, said Caleb Clark (@wildfireplatform) from Mobilization Labs. Another great jewel from him was to always keep in mind that conversation, while vastly important, should always translate into action.
- Advocacy drives sales, said Dave Rollo (@Rollo) from 22squared, a particularly striking message when dealing with SOCIAL media. You can’t just have one-way conversation with no back and forth, no reward, no incentives for both groups.
- The value of a fan perhaps cannot be determined. Some monetize it to $2.27pf, others think value should be based on the fans number of friends/followers, and still others think it depends on the level of loyalty the fan creates. (This was discussed during panel Q&A).
We are a meeting planning company, currently mostly in the pharma market, but looking to diversify. How would you use the tools we have at our fingertips to first find a targeted audience? Once we find them, I feel confident we’ll be able to rally strategy to build loyalty; it’s the first step that’s the most difficult. What would you do?