Ed. note: This post is the second in a series drawing from Mainstay Salire’s study onÂ Social Media ROI: Quantifying the Benefits of Social Media Marketing Platforms for the Enterprise. Download the entire report for free here.
Companies embracing social media marketing solutions reported a significant increase in the number of people reached through various channels, notably Facebook, LinkedIn, Twitter, and Google+. One insurance company, for example, saw a 150% to 420% increase in its local Facebook fan base, largely because the platformâ€™s simplicity enabled agents to post more frequentlyÂ and effectively.
A major educational institution reported a 189% increase in its fan base because teachers and administrators could post more customized, relevant content and build a â€śfeeling of communityâ€ť among current and prospective students. Feedback through the platformâ€™s analytics also helped fine-tune the content to focus on messaging that generated strong local-consumer engagement.
As companies established integrated corporate-local social media networks, they not only saw more fans signing up, but these fans and followers also responded more frequently to communications from the company. Marketing managers said that the platformâ€™s automation and scheduling features allowed local marketing staff to â€śconcentrate on crafting more pertinent and appealing posts,â€ť thus attracting more engagement (including clicks, comments, views, and check-ins) from local fans and followers.
Better outreach and engagement of consumers atÂ the local level positively impacted sales and other measures of business growth at the companies studied. Several companies reported jumps in sales conversion rates, with one retailer doubling sales tied to specific promotions, largely due to the ability of marketers to design more attractive deals with targeted local social media offerings.
As shown in the figure below, an insurance company adopting Hearsay Social saw business improvements in several areas, including a boost in lives insured, premiums, and total assets. The volume of posts and tweets increased overall, but especially among junior advisors who adopted social media as their primary channel for stimulating sales growth.
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