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Activity:  10 comments  200 views  last activity : 10 15 2011 16:22:35 +0000
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There are three important criteria while working on Social Media:
  • Acquisition
  • Retention
  • Building Loyalty
Acquisition:
This is the process of getting new people on-board. This is the phase where you bring in new Customers and Clients.
In order to get people on-board you will need to make a Business decision if you want to do aggressive marketing or have a subtle chronological effort. There are a couple of ways in which you could look at Acquisition:

  • Forums: Join the industry / category based Forums. Forums have a good format of automatic giving your links in your signature. These are really good platforms if used properly. Do not spam.
  • Competitors: Many a times joining competitors is good. You know what the industry is doing. Please be extremely careful here. The idea is not to steal / pinch their Community Members. The idea is to give constructive discussions and add to the value that they are trying to give. You could join their Community on their Sites, join their Blogs, Join and add to their Facebook content, be on their Twitter and  LinkedIn.
  • Online Advertisements: The other way is to recommend to your Clients on giving out online advertisements. Facebook has an amazing concept of Sponsored Advertising and so on. Use these constructively. There is not much of money involved in the initial stages. What you need to know and do is target the advertisements in a correct manner by way of selecting the right Target Audience and their Target Market / Geography along with a message that will generate a desirable response. You can also look at online banner advertising and so on. These also can create new Customers and Clients. Online advertising can be have various formats to it. There are various sites offering various banner sizes and platforms. For instance you can have floating banners and so on.
  • Commenting: Commenting on various Blogs, Articles, Posts etc is a great way to encourage people into looking at you and your Links.
  • Offline Spread: Offline methods are also great to get you Clients and Customers. Advice your Clients to have your online Links on every document sent out. This could be envelopes, bills, invoices, advertisements, hoardings, tv, radio, visiting cards, letter heads and so on.
  • Software Templates: Have templates created for Emails and other software like Microsoft Word documents and so on containing the Online Links.
  • Reference And Endorsement: There is another method to get new Clients and Customers: This is the referral and endorsement system. If you have done satisfactory work with your ongoing Customers and Clients then there is a huge chance of them recommending you to their Network. If this takes place there is nothing better. However when you do get new Business from your existing Business sources you have a greater responsibility. People recommending others are putting their reputation to test as well. If you fail then they will be displeased as well. So be careful here.
  • More From Existing Clients And Customers: Additionally if your existing Clients and Customers are happy then they in turn will give you more business, your scope of work will be increased.
  • QR Codes: With the help of QR Codes you can make a long URL printed in the offline world easy to connect with you Social Media Page.
These are few of the ways in which you could look at Acquisition.

Retention:
This is the process of maintaining the existing Clients and Customers. After you get Clients and Customers you need to deliver to them the desired results. There is a lot that goes into delivering the right results at the right time and at the right price. There are a couple of tips that you could use so that you can retain your Social Media Community:

  • Privileged Feeling: You need to give your Clients and Customers a feeling of being privileged.
    • This could be done by giving them great discounts and sales information.
    • You could let them have the first peek at new launches.
    • Let them be the first to know what is taking place behind the scenes.
    • If you are managing Celebrity then let them have a chance to connect with your Celebrity.
    • If there is a new announcement that you will coming out with let your Community know first.
  • Belonging Feeling: Let your Customers and Clients get the feeling of belonging to your Inner Circle.
    • Encourage them to speak and to share.
    • Let them know that they are a part of your Family.
    • Let them share their experience with your product.
    • Appreciate a good comment. Make it a point to address a negative remark.
  • Share information that can help them. See when and on what do they re-act.
  • Monitor and check on feedback.
  • Listen in to what they are talking. Add if you can deliver value.
These are few of the ways in which you could look at Retention.

Building Loyalty: 
If you have managed to retain your Clients and Customers well then getting them to be a little more attached and loyal to you / your Brand or Business should not be a far away dream. Building Loyalty is a life long process. It is a feeling that people have towards your Brand or Business. Loyalty is not a destination; in the sense you cannot really say that you have attained Loyal Clients and Customers so there is nothing else to be done. Anything going down on the Retention graph directly hampers your Loyalty graph.

What are your points to build on Acquisition, Retention and Loyalty.


My Business Page is on Facebook at:  http://www.facebook.com/pervarakapadia Do join me.
 Top Comment : Virag Shah   | 10 14 2011 04:22:54 +0000
For acquisition, retention and loyalty , it require to continuously interact with client & customers and represent something new as well as innovative idea which help to retain customers, make them loyal. Social media is such kind of thing which require every time refreshment and entertainment where users (End users) feel happy , they will retain, become loyal, traffic will increase etc. We know very well about users that they are coming to get new information, refreshment, entertainment. Therefore, we have to require to represent our idea as per their requirement to make them loyal. Try to motivate users, communicate users, provide useful information to their personal mail, create enthusiasm atmosphere so, they feel willingly to stay that site. Social media is for entertainment where users are enjoy. So, you must have to see social media as Entertainment purpose.You will get surely huge response and business will grow. Welcome back Madam after long time with nice Insight.
 
10 comments on "Acquisition, Retention, And Building Loyalty In Social Media"
WOW A LOVELY POST TO KNOW EVERY SEO PERSON:)
  Commented by  Makrand Bhave, Marketing & MICE, WIZCRAFT International    | 10 14 2011 09:23:17 +0000
Rating : +1 
Pervara,

Interaction with a brand on social media platform means time at hand to move away from your social circle and over and above you need the right kind of questions which need to be engaging rather than lengthy and boring! The attention span here would be of immense consequence. Research based work can be carried out with ease, but again at the end of the day the TG would need some gratification so that they become your viral ambassadors!! This media will always be viral in growth, but one bitter pill and the viral will change direction!

Because its still a cheaper option for consumer engagement its still viable to take calculated risks on this platform. The scenario here is the universe is large but the innovations need to be crisp, gratification based and engaging!
Thanks for your response :) 
Rating : +1 
Hi Makrand, thanks for dropping by and sharing your views.

Thank you for your kind words.

Today's scenario is that as you have rightly shared toostep, LinkedIn are also Social Media Platforms where conducting research is feasible. Doing a specific task like research depends on what research you have, what is type of question that you have, what is the target audience and so on. For instance in the offline scenario what you may ask in Focus Group Discussion is not what you will ask standing outside a mall. In order to have qualitative and quantitative understanding you will use difference approach, format situation and so on. Similarly in Social Media what you may ask on Facebook will be a little different from what may be asked on LinkedIn and may altogether be different when you do one on one Focus Groups.

Having said this Social Media be it TooStep or Facebook or any other are good spaces to interact with Clarinets and Customers as may be the case.

Having said this there are Brand and Businesses that are making good contacts and creating a great impacts. Social Media is not the only model to be used. There are lots of things that go into making Direct Marketing and CRM work. Social Media can be a part of this.

While we definitely cannot say how long things will last we do know and understand that if toady your Customer and Client is there online and on a particular Platform - as a market marketing person you do not want to miss out on them. Specially when they are willing to be connected. As far as innovation goes there are many Social Media platforms that are open to third party applications.

The simple logic is = if your Customer and Clients interacts with you then why not use this.

Thanks Makrand once again.

Regards
Pervara 


Rating : +1 
Hi Muralidharan,You are perfectly right. We cannot put all eggs in one basket. Social Media is part of a whole Strategy. It cannot be the only resource.

Having said this there are Brand and Businesses that are making good contacts and creating a great impacts. Social Media is not the only model to be used. There are lots of things that go into making Direct Marketing and CRM work. Social Media can be a part of this.

While you have rightly shared that you cannot innovate on existing sites of Social Media the  Media - the developer Community is working on API and do seem to have results.

While we definitely cannot say how long things will last we do know and understand that if toady your Customer and Client is there online and on a particular Platform - as a market marketing person you do not want to miss out on them. Specially when they are willing to be connected.

As far as innovation goes there are many Social Media platforms that are open to third party applications.

Te simple logic is = if your Customer and Clients interacts with you then why not use this.

Thanks once again Muralidharan for your inputs.

Regards
Pervara 
Rating : +1 
Thank you Virag for your inputs. Yes you are right Social Media is the space where people join for entertainment as well. Hence providing them with what they are looking out for will make them hang around more and thus will increase the traffic. 

There is a certain segment of society and mindset who look out for information as well  well so here is again a great chance. 

Thanks once again Virag. 

Regards Pervara
  Commented by  Makrand Bhave, Marketing & MICE, WIZCRAFT International    | 10 14 2011 07:30:14 +0000
Fantastic process flow Pervara!!

I fully agree with Mr. Muralidharan! Also appreciate your research and the exercise that you conduct on FB! Point to note is that these platforms are "social" in nature. Here drawing room talks, bedroom talks, pillow talks or even shoulder (agony aunt) talks prevail! Try serious business propositions with a basic idea called survey and see how you are treated! Your calculations would go haywire!

That is also the reason why platforms like toostep, LinkedIn etc survive and yet have a very social ambience around them. Not that I do not agree to what you have proposed, but for a serious business, its still a far cry!
  Commented by  S. Muralidharan, Head, Project Planning/Strategy, Knowledge Foundation    | 10 14 2011 06:06:59 +0000
Rating : +2 
Great insight Ms. Pervera.  Only issue here is that, after all, social media is not a robust model to build on acquisition, retention and loyalty, as : (1) you are not owner of the site where you have total control of your business model; (2) you cannot innovate anything exclusively for your customer to satisfy and handhold him/her, as you are allowed to play around with the available tools and framework, not otherwise; (3) You can not predict the longevity of this social media due to  a number of variables, viz., government policies, international compulsions, embargos, etc.

Just a thought, don't take it otherwise, Ms. Pervera.
  Commented by  Virag Shah, Confidential    | 10 14 2011 04:22:54 +0000
Rating : +1 
For acquisition, retention and loyalty , it require to continuously interact with client & customers and represent something new as well as innovative idea which help to retain customers, make them loyal. 

Social media is such kind of thing which require every time refreshment and entertainment where users (End users) feel happy , they will retain, become loyal, traffic will increase etc. We know very well about users that they are coming to get new information, refreshment, entertainment. Therefore, we have to require to represent our idea as per their requirement to make them loyal. 

Try to motivate users, communicate users, provide useful information to their personal mail, create enthusiasm atmosphere so, they feel willingly to stay that site.

Social media is for entertainment where users are enjoy. So, you must have to see social media as Entertainment purpose.You will get surely huge response and business will grow.

Welcome back Madam after long time with nice Insight.
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Hi Makrand, thanks for dropping by and sharing your views. Thank you for your kind words. Today's scenario is that as you have rightly shared toostep, LinkedIn are also Social Media Platforms where conducting research is feasible. Doing a specific task...
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