Guest Column: Facebook ‘likes’ bring in business
RoI on Facebook is not a far-fetched concept. Creative solutions to daily business functions can get tangible results, says Rajiv Dingra of WATConsult
One of the biggest problems about brands adopting social media is the perceived lack of RoI in the segment. RoI or no RoI, social media definitely gets your brand out there in terms of outreach and engagement. There are so many aspects to it such as CRM, promotional marketing, advertising, conversations and finally sales. This feature will talk about how Facebook brand pages can give you value in terms of sales, if done correctly.
Facebook is currently being used by 50 million Indians and this number is set to grow with the increasing usage of internet-enabled mobile phones in tier II and tier III towns. This means that there is data for 50 million people with precise targeting options, which just makes a marketer’s job easier. The usage is not going down anytime soon as we grow to become a ‘connected generation’. Harnessing this data to provide value to your audience and fans is the best way you can translate ‘likes’ into sales.
I would like to give you a few examples of the brands that WATConsult handles and how we are making sales of products possible over Facebook.
Every year Vero Moda, Only and Jack & Jones have a mega sale which is quite popular. The challenge for this year’s sale was to increase awareness and increase the numbers of people turning up. The sale was held in the major cities – Mumbai, Bangalore, Ahmedabad and Delhi. We introduced downloadable discount coupons for Facebook Fans. These coupons were geo-targeted so that it could only be used by shoppers in a particular area. About 4360 coupons were downloaded and 2848 of them were redeemed. That means 2848 footfalls and a 65 per cent conversion rate. This is an excellent example of RoI generated from Facebook fans.
Another instance of coupons working their charm on social media is the case of @home. This is a home furnishing and decoration megastore which needed to increase the footfalls in its stores. We designed time-dependent coupons for new and existing Facebook fans. The promotion ran for two days where new and old fans alike could download a Rs 500 voucher that they could redeem in the next five days. This resulted in increased Facebook ‘likes’. Fifty per cent of the people who downloaded the coupons turned up to redeem them. According to current industry standards, this is a healthy conversion rate.
RoI on Facebook is not a far-fetched concept anymore. You can get tangible results if you come up with creative solutions to your daily business functions. This will provide value to your customers and help generate long-term loyalty.
The author is Founder and CEO, WATConsult, a social media agency
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