There are no agreed upon guidelines for determining the value of your brand’s social presence. If you put a group of eCommerce executives in a room and ask them how they measure the value of social, no two answers will be the same.
Driving traffic from social and tracking it as new shoppers convert is one great, and easy way to extract some greenbacks from your social presence. Recently a Social Annex client drove big revenue by running a social campaign containing these four essential elements.
1. Give them a reason
Featuring a Share and Save 10% widget on its homepage provided a clear and simple CTA to current customers. Repeat customers were happy to share the brand that they love and a 10% discount gave them an extra push. In no time, thousands of customers were sharing the brand with their friends and family.
2. Make it easy
Every customer is different, so this sharing program allowed each shopper to choose how they wanted to share the brand. Most chose to share on Facebook, but many also spread the word through email and Twitter. Integration with social networks allowed everyone to share quickly and easily without detracting from their shopping experience.
3. Track results
The company maximized the outcome by keeping an eye on ROI. They used the Social Annex dashboard to see exactly who was sharing on what networks, where the most revenue was coming from, and who its top influencers were. A share on Facebook drove on average of over $80 in new revenue and every email brought in $95.
4. Double down
With new customers and referral revenue as evidence to support the value of their social presence, the retailer invested in a Facebook Like Gated contest, offering money off of a purchase for a prize. This rapid growth of its social community fed back into the sharing program, increasing the stream of referral revenue further still.