Author Archive for Steve Latham
Steve Latham

Twitter Best Practices for Social Media Marketers

twitter birdFor more than a year I’ve been advising clients on how to use Twitter as a marketing platform.  Surprisingly, it seems that most brand marketers still don’t get it.  With the goal of doing my part to help the industry master this channel, I’m sharing my best practices for Twitter Marketing.  While these may not be comprehensive, they will provide you with 90% of what you need to be proficient at building your brand via Twitter.  In order of priority – here is my list. Enjoy!

Twitter Best Practices for Social Media Marketing (according to @stevelatham)

1.  Interesting and Engaging Content
While Tweeting is easy, it’s important that you do it right, starting with a solid content strategy.  Content recommendations include:

  • Based on approved content guidelines, create Tweets that are engaging and relevant to target audiences.  It should be easy for potential followers to see that your tweets are valuable and worth reading.
  • Write tweets that will be shared.  Rather than simply posting links, introduce links with compelling copy that encourage clicks.
  • Allow time to pass between each tweet (at least 15 minutes) for several reasons: 1) no one likes to have their dashboard of tweets dominated by one account, 2) if someone is not watching they are likely to miss them, 3) spreading them out demonstrates consistency that yields brand benefits.
  • Limit Tweets to 120 characters so they can be easily re-tweeted without exceeding the 140-character limit. See “120 is the new 140″ from @BrianSolis for more tips.
  • Leverage real-time search by prominently including buzzwords that will picked up by Google, Bing and other search engines.
  • For more on Content Marketing check out @juntajoe and his blog.

2. Remember! Engagement = Listening + Responding
Social media is about interacting, and you can’t do that if you’re not listening.  In addition to listening for your brand mentions, you need to keep an eyes on what your network is tweeting about and participate in the discussion.  Here are some tips:

  • Use tools to track when your profile or brand is being mentioned on Twitter.  Tools include www.Search.Twitter.com as well as the SM monitoring tools mentioned previously.
  • Use the native search feature in your Twitter management tool to follow topics that are of importance to you.  For example, I have a search column in Hootsuite for “Social Media Strategy“.  This is how I keep up to date on the latest tweets on this subject.
  • When your brand is being mentioned in a positive way, RT the message, follow and recognize the person who tweeted about you.
  • Acknowledge mentions.  Monitor when your Twitter account name is mentioned and RT to thank, and/or acknowledge those who are mentioning you.
  • Build credibility and goodwill with your followers by re-tweeting (RT) posts that will be of interest to your audiences.  If you RT a follower’s post, they may acknowledge the RT to their followers, thereby promoting you in the process.

When your brand is being mentioned in a negative way, you can either 1) respond, or 2) ignore it.  If you choose to reply, consider the risks, given the nature of their tweet, their motives and their objectives. A confrontational response is rarely successful.  If you want to address a customer complaint, ask them follow you so you can then send a DM and take the conversation offline.  As mentioned above, ignoring the mention is often best.  You can inadvertently cause much greater damage if you engage in a public scuffle with a crazy person.

3. Building a network of followers
Without a network there is no reach, and without reach there is no ROI.  Contrary to most hopes and beliefs, networks do not build themselves; if you want followers, you have to work on it.  The good news is that with Twitter, the process is relatively easy.  When you follow someone, they will receive an email notification.  Currently, the normal etiquette is to respond by following the person who followed you.  Judicious tweeters will read your latest tweets to determine if your content is worth following.  If the content is good, most will follow you back – at least for a while.

  • Start with your own employees, partners, vendors and community.  Announce your new Twitter account and ask employees to follow and share with others.
  • Identify the top 50 influencers in your category on Twitter as these people can provide visibility and credibility for your brand among their networks of followers. Use www.TweepSearch.com, www.MrTweet.com and www.Twollow.com to find users with shared interests.  Look for those who have large numbers followers and are active in sharing their opinions with the masses (aka influencers).
  • Follow people who follow your Influencers.
  • Include a link to your twitter account in email, on your site, on all social networking sites and in all correspondence.
  • Remember to maintain a favorable ratio of Following / Followers of +/- 1:1. While building your network, take time to check out who you are following that is not following you back at www.FriendorFollow.com.  For each person who is not following you, you can either: 1) stop following for good, or 2) unfollow and then re-follow.  If they do not respond on your 2nd attempt to reach out, you may consider unfollowing them for good.
  • Be careful with TwitterBots (AutoFollow) tools.  As you’ll quickly learn, building a network takes time.  If you are interested in using an network-building service, make sure  you use a credible tool or service that follows Twitter best practices. Failure to do so will result in suspension of your account.  While there are a lot of cheap bots that to avoid, there are some services that work (full disclosure: we offer one that works well).  Before you buy, do your homework and ask for references.

4. Managing Multiple Accounts
Many marketers maintain at least two types of Twitter accounts – one for their company and one for their personal tweets.   Twitter management tools (my favorite is HootSuite) allow you to manage multiple profiles.  Since many may follow your personal and work accounts, make sure you don’t tweet the same content at the same time.  Another common practice is to RT your company tweets from your personal account.  Remember that many will follow your brand and personal profiles, so make sure you space them out (no simultaneous tweeting!).

Common Twitter Mistakes to Avoid
Here are some common content mistakes many marketers make when Tweeting:

  • It’s all about me!!!  Too many still use social media a megaphone vs. a telephone.  Success requires that you listen, engage and interact with others in the community.
  • Using social media as a press release distribution platform.  While there are sites that are great for press releases, this should be the exception, not the norm.  As noted, conversations require an exchange of information.  If all you do it tell the world about your firm, audiences will grow tired of listening.
  • Boring content.  You should always seek to include and introduce links to video, articles, audio and other media that will be interesting to audiences.
  • Vague content. Doesn’t it bug you when someone posts a link with a cryptic introduction?  Make it easy for followers to see what you are presenting to them.  Introduce your links.
  • Sharing information that is confidential, sensitive or not appropriate.  This is especially important if you work for a public company or in a regulated, hyper-competitive or litigious industry.
  • Drawing unnecessary attention or being overly defensive when addressing negative comments.  Sometimes it’s best to ignore the haters.  If you respond, you may make something big out of a small issue, which may be exactly what they want you to do.

In Closing…
Again, this may not be all-encompassing, and I’m sure I’ve omitted a few important lessons.  That said, I hope these are helpful and that you find value in them.  If so, please COMMENT, SHARE and SUBSCRIBE to our blog.  Thank you for your feedback!

Steve Latham (follow me on Twitter)

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  • Online Metrics: the Unrealized Opportunity. Most marketers are not satisfied via @eMarketer http://ow.ly/1bDNp #
  • Big Biz Embracing Twitter: 35% of F500 actively using Twitter in 2009 via AdWeek http://ow.ly/1bDE5 #
  • Per @erictpeterson brands should split web analytics budget 50/50 b/t technology and people to manage it #oms10 #
  • "Managing your Brand in Social Media" WSJ Article (quick read, good info) http://ow.ly/1apuH #
  • Latest from eMarkter: "How Retailers Can Reach Moms" (hint: talk like a human, not a marketer) http://ow.ly/1aoXY #
  • Listening to SEO smarties discuss latest on search strategy at #oms10. The Upshot: you need to master the tools #
  • RT @kentjlewis: "Services Combine Social Media, Marketing" on @WSJ, featuring Groupon and FourSquare. http://ow.ly/1aqts #
  • Does Social Media Sell? ROI Measurement is a challenge for Brands http://ow.ly/18D0D (for our view see http://ow.ly/18D37) #
  • New Blog Post: Twitter Weekly Updates for @SpurInteractive – Wow! This is awesome. Ad Agencies Virtual Strike Adve… http://ow.ly/16DaRi #

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  • Quick read from @emarketer on Future of Social Media (Advertising takes a back seat) http://ow.ly/16Mqk #
  • New Blog Post: New Media Toolkit (updated!) – List of online marketing and new media tools for business marketers. http://ow.ly/16zaKJ #
  • Interview w/ CafeMom: 3 Reasons why Word-of-Mouth Matters Most for Moms http://ow.ly/16MMP #
  • Just updated our free New Media Toolkit w/ Competitive Intel tools. Enjoy! http://bit.ly/9RWn7q #
  • In case you were wondering… Twitter is alive and well with >1 billion tweets per month (Royal Pingdom) http://ow.ly/163zW #
  • New preso! "2010 Roadmap for Interactive" How to use owned, earned & paid media to build your brand http://bit.ly/auKsQn #
  • Google's got some moxie! As if taking on Apple and Microsoft were not enough.. Google vs Facebook! via NYTimes http://ow.ly/163wQ #
  • eMarketer Article: Why You Need a Strategy for Social Media http://ow.ly/15S9z (for more on SM Strategy: http://bit.ly/7AS1zT) #
  • Word of the Day: TWITLASH [twit-lash] -noun: sudden, forceful backward movement or recoil caused by excessive Tweet blather #
  • Heard it was much higher – 50% in 5 yrs? RT @CariSchauer Social Media Accounts for 11% of Time Spent Online http://bit.ly/ahKxoo #
  • Good recap of last week's Houston IMA Search Marketing Panel by @StephenEP http://ow.ly/154mk #
  • New Blog Post: Twitter Weekly Updates for @SpurInteractive – Social Media and Young Adults Pew Research Findings h… http://ow.ly/16wsYD #

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Measuring ROI: a Primer for Online Marketers

money iconAs marketing dollars have become more scarce, the importance of measuring ROI and building a business case to support investment has become paramount.  For those seeking to better understand this subject, here’s a “simple” methodology for quantifying value.  In this case, we’ll look at ROS (return on spend = expected revenue divided by cost of online media) and ROI (expected net present value divided by total investment) from online campaigns.  If you find it to be of value, or if you have additional questions, please comment below.

Steps to Calculating Value

1. Determine the Value metric (Revenue, Margin, NPV) of a customer.
Some companies look at value of a transaction, annual revenue per customer or lifetime value (profit) of a customer.  Some assign higher values for new customers vs. a new sale to an existing customer. You need to determine what is best for your organization (hint: choose the metric that is most used by your executives).  For this example, let’s assume your average sale is $1,000 and that the lifetime value of a customer is $5,000.

2.  Assign conversion rates to approximate close rates.
Let’s assume 3% of site visitors request more information (inquiries) and that 30% of inquiries complete a purchase.  If you’ve done online campaigns before, you should have a basis for inquiry rates.  Hopefully your VP-Sales know how many leads convert to a transaction. If 3% of visitors become leads, and 30% of leads are closed, 0.9% of visitors will become customers.

3. Determine what your cost or investment will be.
Let’s assume you will spend $10,000 in online advertising (display, search, email, etc.) this month.

4. Do the math to calculate ROS and ROI:
Assuming your efforts drive 2,000 incremental visitors to your site (cost: $5 each) you should see 60 new leads (3% conversion rate) and 18 new customers (30% close rate) worth $18,000 in revenue or $1.80 direct ROS ($1.80 in revenue for every $1 spent).

The Net Present Value of the 18 customers is $90,000 ($5,000 each) yielding a Return On Investment of 900%.

If you present these types of results to your CFO, you’ll quickly find a lot of interest (and dollars) in online marketing.

Another Metric: Value per Engagement
Another way to measure results is calculating value per engagement (visit, inquiry, etc.).  In the example above, each visit is worth $9 in revenue ($18,000 divided by 2,000 visits), whereas each inquiry is worth $300 ($18k divided by 60), compared to a cost per visit of $5 and a cost per inquiry of $166.67.

Remember Your Margins
While revenue is an easy metric to measure, margins are much more important.  Assuming your gross margin is 60%, you are making profit as long as your cost per visit is less than $5.40 or cost per inquiry is less than $180.

Caveat Emptor!
Please use good judgment when applying these methodologies to your own business. Again, these are not a panacea for every situation.  But hopefully, they will give you some building blocks for quantifying the impact of your interactive marketing program.  If you have specific questions, please leave them here.  I can’t promise I’ll know the answer, but I’ll do my best to help you figure it out.  Happy number crunching!

Please feel free to COMMENT, SHARE with others and SUBSCRIBE to our blog. We look forward to your feedback!

Steve Latham (follow me on Twitter)

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  • Good info for Marketers! eMarketer report: What Social Followers Want http://ping.fm/wysYz #
  • Short article: 5 Tips for using social media in health care marketing (via @RSSirteubal) http://ow.ly/Yshm #
  • Momma Geeks rule! Digital Tools Help Moms Take Charge – eMarketer http://ow.ly/YnUy #
  • Classically funny! And yet sadly true… How a Web Design Goes Straight to Hell http://ow.ly/Xr20 #
  • Has anyone seen recent forecast for Media Budget allocations? Seeking latest on % allocated to online vs. TV, Print, etc. #
  • Great Stats on Boomers use of TV and Internet. 69% of 50-64 were online yesterday! via @emarketer http://bit.ly/57rrau #
  • Atwitter in Mass.: Brown’s Social Media Strategy Tops Coakley’s – WSJ http://ow.ly/YlkV #
  • Fun and interesting blog banter! RT: @TexasMonthly Mass hysteria! All eyes on MA senate race: http://ow.ly/Yloq #
  • How Small Businesses are using Social Media (via @MediaPost) http://ow.ly/YefH #
  • Good read for new SM Marketers: 10 Stages of Social Media Business Integration http://ow.ly/Xq35 #
  • eBook sales continue to rise (one of a few growth categories!) via @emarkter http://ow.ly/XLcP #
  • It's official! Consumers won't pay for news (did they really spend $ to figure this out???) Poor Rupert! http://ow.ly/Xqls #
  • Twitter growing Abroad; now accounts for 50% of users w/ UK, Germany, Brazil, Indonesia growing fastest http://ow.ly/Xq1H #
  • Cool to see Old Media adopting New Media innovations: Clear Channel's new radio ad program: http://ow.ly/XpXV #
  • New Blog Post: Twitter Weekly Updates for @SpurInteractive – Article: Meeting Busy Moms’ Needs (diapers.com case) … http://ow.ly/16mm2f #
  • Good read for new SM Marketers. Article by @briansolis: 10 Stages of Social Media Business Integration http://ow.ly/Xq35 #
  • If your life feels incomplete, you can now get Samuel Jackson on your *!^%@$&! iPhone :-) http://ow.ly/XpR1 #

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