Twitter is Terrific!

Facebook is blowing up everyday with new businesses, like pages, embedded platform codes and more…Simply put, Facebook is good for business. But what about the other popular social network platform that is steadily rising in popularity? What about Twitter? I have had many people who are getting into online marketing ask me “So what does Twitter do for businesses?”
So here are a few ideas of how Twitter can be incorporated into your business.

Twitter is a communication platform that helps businesses stay connected to their customers. As a business, you can use it to quickly share information with people interested in your company, gather real-time market intelligence and feedback, and build relationships with customers, partners and other people who care about your company. As an individual user, you can use Twitter to tell a company (or anyone else) that you’ve had a great—or disappointing—experience with their business, offer product ideas, and learn about great offers.

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3 equations to measure Social Media

1) Average Interaction Rate AFF/PV= AIR This equation measures how people are interacting with your business online. Simply take the Average Fan/friend (AFF) number which is determined by dividing how many Points of View (PV) people add to your wall by the amount of friends/ fans on your list, this will give you your Average interaction rate. Example: 655/2 = 327 AFF, say you have five of your friends post to your wall, so PV=5 then 327/5 PV = 65.4 AIR
2) Return on Investment Equation: (NFI x CA) – CI = ROI this is determined by taking the amount of friends/fans you have, multiply that by the cost of your advertisement and subtract the cost to Implement the campaign – this will give you a Return on Investment number. Example: 525 x 1.50 = 787.50 – 100.00 = $687.50 ROI per month. However if you are outsourcing social media, you must take in consideration how much you are paying the business to do content management on your social media platforms.
3) Online Production Equation WAO/SMO x .05 = TOP this compares your web traffic to your social media traffic; simply take you Web Analytics from month A and subtract your web analytics from month B, this gives you your WAO (Web Analytic Output) Then take your Social Media followers from month A, subtract from your social media followers from month B; this gives you your Social Media Output (SMO) Now, Divide your WAO by your SMO and multiply that number by .05; this gives you your Total Online Productive Rate. Example: 262/11 = 23.81 x .05 = 1.19 (TOP)

Individually the numbers won’t make sense, but when you compare them month to month through a 12-month period, you will have measurable results that will tell you how effective your social media is in comparison to your web traffic, Because the main objective for social media is to drive traffic to your company website.

Testimonial from BizTalk 1400 – Thanks Marisa!

It’s been my pleasure to meet and work with Tyler Spencer, Social Media Director for the Trading Post. He is extremely knowledgeable in the evolving social media field. For many of us the strategy behind social media can be daunting but Tyler makes the process easy and effective. His passion and enthusiasm is refreshing and he works hard to help you succeed. I would recommend Tyler to anyone who needs to expand their sphere of influence by using the power of the internet.

Marisa Shadrick Co-Host
http://www.biztalk1400.com

Social Media is an Icebreaker!

The affects that social media has on businesses is more than just networking on line, it also acts as an ice-breaker to conversations that people you otherwise would not be talking to. Take Twitter for example, a business woman on her way from California to New York has a delayed flight and is stuck in an airport in Denver. She tweet’s that her plane is delayed and that she is in the café having coffee until her plane arrives. One of her followers who is in Denver could respond to her tweet and meet her for a cup of coffee, or maybe the other persons plane is delayed as well and they are sitting behind her in the same café!

Social media can act as a foot in the door for B2B networking as well. For example, a business man uses social media to drive traffic to his website and through social media finds other interest groups, he then corresponds with another businesses man who share the same interest through social media, they start to find a common ground between each other and after communicating through social media, the two business men meet & start doing business with each other.

Now, remove social media from the playing field and what do you have? A person sitting in the café waiting for a late airline and a businessman working in his office.