Conversational Marketing in the Age of Social Media
I’ve never had a client who didn’t raise the topic of ROI in the marketing conversation, but few and far between have initiated a discussion about venturing into the Web 2.0 world using such things as podcasts. Although this is not surprising given the tendency to stick with traditional lead generation tactics such as tradeshows, it is rather ironic considering the recent case studies I’ve seen demonstrating a clear connection between the two.
One such case, available through MarketingSherpa.com, involves Global Management Technologies Corp. (GMT), a software company that serves the banking industry. To cut to the chase, this company was able to convert an industry tradeshow speech to an educational podcast that resulted in a 71% drop in cost per lead and millions of dollars in new business. Now that ROI would raise a few eyebrows!
If you’re looking for a potential lead machine fueled by an appropriate mix of marketing tactics – and who’s not nowadays – then you might consider the podcast. A podcast, or digital media file syndicated over the Web, will stretch the impact of your tradeshow costs. It can also set you apart from your competitors. When turning your traditional trade show appearance into a lead generating podcast, be sure to zero in on the following steps that worked for GMT.
On Tuesday, I had the opportunity to participate in Enterprise 2.0: Social Media in the Workplace, a webinar presented by Movable Type and Forrester Research. Of course, Movable Type is one of the big players in selling blogging applications, so I fully expected the webinar to promote blogs, but there were a lot of good points, case studies and statistics that go a long way in helping senior management understand why this may be a very effective approach to communicating with their employees, customers and prospects.
Charlene Li of Forrester explained that since your employees and customers are already using social media tools without guidance (instant messaging is a good example), corporations should introduce sanctioned tools to get a grasp of what is happening under the radar and reap the benefits of what already going on.
She also went into detail about the ROI of blogging, including:
- increased site traffic and SEO,
- press mentions,
- word of mouth advertising, and
- increased sales efficiency
- blogs are low cost ($100/month or less for hosting)
- blogs allow you to publish quickly, from anywhere, and have global reach
- blogs are better than email at capturing everyone’s thoughts in one place
- blogs are better than wikis for giving credit to individuals vs. the collective.