Search and Social: Bottom-Line Thinking
Tuesday, April 26th, 2011Many C-Suite executives and marketing managers know both search marketing and social media are important. For some organizations, much of a customer’s initial awareness about products and services is likely to derive from search engines, social media or both. Yet, in terms of their affect on the bottom line, the thought of allocating substantial dollars to these channels may sometimes be a tough decision. The challenge reflects bottom-line thinking; getting the mind around where search and social plug-in to a business can be puzzling. Although, when we uncover the various benefits and connect search and social with business objectives, we begin to see a clearer picture of the overall importance of social and search.
Location, location, location. This cliché is true for real estate and for brick and mortar operations. It is also true for the Internet. If we use our Yellow Pages today, it’s often as a fire starter; otherwise, it just sits collecting dust in a drawer. Today, the search engine has effectively replaced the Yellow Pages for online users. To be found, location in the search rankings is becoming almost as important as physical location and in some cases, more important. Restaurants, for example, are discovering that Internet traffic can very well lead to foot traffic.
Numerous organizations get new business via referral from existing customers. Interestingly, many referrals now are made via social media rather than around the water cooler. Additionally, customer retention has become a significant focus with social media marketing, by augmenting and adding customer touchpoints that are more relevant and more frequent than the once-a-year sales call or monthly newsletter. This “top-of-mind” strategy using social media not only builds product or service awareness, but also creates a more consistent brand message through customer engagement.
Conversations are happening about brands all over the Internet, and reputation management can affect the bottom line for a business in both positive and negative ways. Consumers seeking information via the Internet often get their first impressions of that brand by what they discover via search or social media. Thus, it’s vitally important for a company to participate in online conversations and boost the positive while mitigating the negative.
When businesses consider search and social as important aspects of their marketing that directly touch the consumer, the benefits and justification for adding search and social to the marketing budget are much more clear. In essence, connecting search and social with everyday operations can provide significant value to a company’s bottom line.
. The Austin Business Journal also points out the agency is bidding on several other accounts, including LL Bean. That’s good news for Austin advertising folk, many who have been laid off because of the lost accounts.