Sunday, September 12, 2010

Making Money Through

You may think that email, Twitter and Facebook are all slight variations on the same tune, but the ExactTarget Research Series, Subscribers, Fans and Followers has shown that each venue has its own X-Factor which makes it special. The trick, which is summarized in their newly published final report, is figuring out how to make them all work as a team.


The study begins by breaking down the numbers and there was a surprise here. 93% of online consumers say they receive at least one permission-based email a day. These are the subscribers. 38% said they are a Facebook fan of at least one brand. These are the fans. The surprise is in the followers, those U.S. online consumers who say they follow at least one brand on Twitter. That number is 5%. That’s it.


I probably spend more time on Twitter than the average person, so my idea of the usage is likely skewed by that, but I would have guessed the number at 10-15%. The upside is that of that 5%, 37% said that following a brand it made it more likely that they would purchase something from them. 27% of subscribers agreed as did 17% of the Facebook fans.


I’m not great with math, but I’m pretty sure that means that a larger number of people are getting emails and are getting influenced by them as compared to Facebook and Twitter. But all three venues have their success rate, which is why it’s so important to make them work together.


Many of the people surveyed said they were confused by where to look for information because the branding across the venues wasn’t consistent. For example, if I want a company’s monthly coupon offer, will I get it if I sign up for the email, or only if I become a fan on Facebook? Consumers didn’t like being told they had to subscribe to any one particular method in order to receive information.


Ideally, you want consumers to follow all three channels. To do this, you must cross-promote one channel with another. Announce Facebook winners in the email newsletter, Tweet about content that’s exclusive to Facebook, create a special email newsletter for Twitter followers. All of that takes time and that’s money – two items most businesses don’t have in abundance. That means you have to pick your battles. Try mixing and matching and monitor the results. If a campaign isn’t getting results, try something else. Social media is so new, there isn’t a proven pattern for success.


There are a few tips you should keep in mind and these come right from the consumers you’re trying to reach.


• Make it worth their time.

• Show gratitude for their business.

• Deliver quality products.

• Honor their individual preferences.

• Provide excellent customer service.

• Be honest.


I’ll bet you already knew those things, but are those points coming across in your email, Twitter and Facebook campaigns? That’s what is important.


You’ll find a lot more detail in the ExactTarget Subscribers, Fans and Followers report. If you haven’t downloaded this six part series, do it. It’s free and there’s a wealth of information in each report. As a bonus, the reports are light on text and big on graphics, perfect for those of you who want to be informed but don’t have the time to plow through a twenty page report.


Finally, let me leave you with this thought. If your audience is on the go, they may prefer Twitter over email so that’s where you should be concentrating your efforts. More of a social audience? Hook them in with fun games and community events on Facebook. The point is, the only statistics that really matter, are yours after you run a social media marketing campaign.


Do you have any ideas for making you email, Twitter and Facebook accounts work together?  We’d like to hear about it.


Social Media Monitoring in Just 60-Seconds. Guaranteed!




I'm thrilled at the response to my previous blog post on America's need for 401(k) reform. The bad news is that big business has already developed a strategy to kill reform -- by intimidating the rank and file into lobbying against it. And it's perfectly legal.



While President Obama justifiably criticized the Supreme Court's Citizen United ruling that pretty much removes the limits from campaign spending in advertising, the real scandal on Capitol Hill isn't bankrolling corrupt candidates but creating a "fake citizens lobby" that convinces elected officials to vote the wrong way. It's perfectly legal for big business to pressure employees to lobby against reform that would help employees -- presumably employing the "spin" that reform is a job killer.



The group that's behind this tactic is one you've probably never heard of, BIPAC, a coalition of business owners and associations. When it comes to corporate skulduggery, you can't get much more lowlife than the National Association of Manufacturers (NAM), one of BIPAC's leading members. NAM has fought against regulating derivatives because doing so "could hinder job creation for manufacturing" -- gee, which factories manufacture derivatives? NAM has also demanded the overhaul of the Family and Medical Leave Act because employees abuse it, and argued that employees who suffer from repetitive stress injuries such as carpal tunnel syndrome aren't really disabled.



There's a good chance that a "fake grass-roots effort" orchestrated by NAM helped convince members of Congress to drop their support for the Employee Free Choice Act, which lets workers opt for unionization simply by signing cards rather than through secret ballot elections. When I went to the page on a website that BIPAC created displaying sample campaigns, I saw a link where employees of NAM's member companies are encouraged to "Tell Members of Congress to Oppose the 'Employee FORCED Choice Act." Technically speaking, businesses can't punish employees who refuse to go along with this effort but in these tough economic times, I wouldn't be surprised if employees are likely to do what they're told rather than risk their job security.



Not surprisingly, NAM is a member of an employer group whose purpose is to fight any reform of 401(k) plans called The Coalition on Employee Retirement Benefits (CERB). Remember Enron? One of its most despicable practices was matching employees 401(k) contributions with company stock, which turns into "play money" if the company goes under. It's very likely that CERB's lobbying efforts watered down the Pension Security Act, which merely allows workers to sell company stock within three years of receiving it rather than limiting it in 401(k) accounts or prohibiting it altogether. As I pointed out in my book, "America, Welcome to the Poorhouse," in a letter to members of the Senate Finance Committee, CERB hints that if Congress is too hard on employers they might stop making 401(k) contributions altogether: " employers are not allowed to meet the legitimate business of encouraging employee ownership...they are likely to reduce or eliminate matching contributions."



How do we get members of Congress to work for the taxpayers who pay their salaries, as opposed to the business lobby? My thinking is that the chance of passing genuine campaign reform legislation is slim -- especially since Congress would have to vote for it. Instead we should create a citizens lobby, comprised of blue and white collar Americans who are watching their American dream turn into a nightmare, whether we're talking about higher medical co-pays, or unaffordable mortgages. Even when it comes to job shortages, most of us are "all in this financial stress together" -- whether we're affected by blue-collar factory jobs that have been outsourced to China or radiology/engineering jobs that have been off-shored to India.



As former SEIU President Andy Stern told me, "Team USA is in trouble. We don't have a plan. Let's grow up, people. This is a global economic war. We need to shake off complacency and get out of our self-analytical malaise." Forget about this Tea Party nonsense, we need a genuine new American revolution against the business lobby and those in Washington who do its bidding.








eric seiger

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