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It’s time for your 2018 corporate social media review

It’s time for your 2018 corporate social media review

The end of the year marks the time for a broad review of your corporate social media plan. Take this opportunity to examine your media successes and failures for 2018. Before you step forward into the next calendar year, you should examine what has and has not worked for your company.

This broad overview is a specific year-end event. This differs from the regular monitoring of your media profile. The yearly review is an opportunity to see if you have reached the broad marketing goals you set for yourself and your company.

Key Performance Indicators (or KPI’s) are the benchmarks used to measure social media performance. A KPI could be the measure of website traffic, likes, clicks, or retweets. You need to examine your audience’s level of interaction with your social media profile. Are they interested? Have they been motivated to interact with your media? Are you providing the content they crave? At the end of the day – what service or content have you provided that they value?

Your media team should be analyzing your social media on a regular basis. How often? Daily, weekly, monthly, who is to say? Every company has different needs and resources. No two groups are the same. However, the one constant common to every organization is the clear need to understand their own customers. You need to decide what works best for both you and your customers.

There is one definitive answer – choosing to do nothing will be the most costly option you can select. At that point, you are wasting resources – time, money, and most importantly, your relationship with your customers.

Keep in mind that your social media profile is a living, breathing relationship between your company and your audience. It’s critical you listen to what they are telling you. However, it’s not always a simple conversation. The difference between what your customers are saying and what you are hearing can be immense. Be sure that you take the time to provide an honest evaluation of your media’s track record.

Media analytics tools make the process of analysis clean and simple. As a manager, you’ll be able to read either a brief overview or an in-depth report. Take the time to examine the story that is being presented to your team. As a business owner, this is a conversation you must understand. You don’t have to have fluent media skills, but you must be able to speak the language. You have to understand the basic concepts.

The key steps here are:

  • Research and Plan – Do Your Homework
  • Execute
  • Review your Analytics
  • Modify your Media Plan
  • Re-Execute

Let your media team do the heavy-lifting for you, but as an owner, you need to understand what they are saying. A small investment of time will yield a great reward. Learn the simple mechanics of social media analytics.

This is a polite reminder to re-examine the performance of your corporate social media portfolio for 2015. Before you do anything else, schedule a review near the end of Q4 2016 or whenever you perform your next yearly corporate media review. Don’t allow another year to pass without this critical review.

As you read these words, hopefully, you’ll smile and tell yourself “I’ve already had my yearly media review”. If this is a new concept for you, I challenge you to review your 2015 media results soon. Before you step forward into 2016, be sure to review your performance for 2015.

If you have questions how to proceed, contact Colure’s Advisory Team to help you mold your media profile for 2016.

Analytics in business

Analytics in business

Analytics is a multidimensional field that uses mathematics, statistics, predictive modeling and machine-learning techniques to find knowledge and patterns in recorded data. It studies past historical data to find patterns and potential trends to analyze the effects of certain decisions and events.

Social media is an example of a platform that can produce its own analytics. Most social media sites will provide users with analytics, but will also provide data to other websites through big data as well.

Analytics contains a data that can help us identify what happened, how, or why an event happened, what’s happening now and what is likely to happen next. There are many ways to gather data through graphs and charts and even numerical data

This can pertain to any field or industry that rely on data to understand the data as it progresses. It is often most useful for many businesses and companies due to its predictive qualities. Analytics can be used for websites to determine how well or not well their business is doing.

The most popular form of analytics within businesses and companies is predictive analytics. Predictive analytics have surged in popularity due to the desire to predict customer behavior. Web analytics are important to a companies’ website because they deliver data about the website, the traffic from its visitors and their behaviors, so they can measure what is and isn’t working. This helps to improve your website’s performance rates.

By using analytics, you are able to track where your traffic is coming from, what attracts the most visitors, and what days of the week are the heaviest with traffic. This information has value in helping you to improve and maximize your online marketing and sales leads and to improve the user experience.

Analytics can open doors to new information that have never been seen before. They provide a deeper insight into the behind-the-scenes of your business to see much more than revenue. Companies often don’t realize the need to improve or change things in order to be more successful until they see that data that suggests otherwise.

If a company or business doesn’t analyze the current state of their website and business, then they won’t be able to identify areas that need further development and improvement. It is critical for businesses to understand the analytics of the numbers and graphs that pertain to their company. Without understanding, the data means nothing to a business.

A company must understand and be able to discuss their companies’ analytics to experts even if they aren’t experts themselves. This shows that they have basic knowledge of the information that they are receiving on how their business is doing so they know where to improve, whether it is their online presence and marketing or physical revenue.

What is cost per registration (CPR)?

What is cost per registration (CPR)?

In order to measure the fiscal health of a company, businesses must measure key performance indicators (KPIs). One critical measurement is determining the cost to acquire one new paying customer. For subscription base companies this model is known as cost per registration (CPR), or cost per acquisition.

The New York Times is in the media industry. In a simplistic model, the media outlet sells subscriptions as one of its revenue streams. For every subscription that the Times sells, some money is spent to cover the cost of advertising. Their net gain is the amount spent on advertising subtracted from the funds raised by the new subscriptions purchased.

No business can avoid this cost. To stop all advertising is to lose subscribers. Subscriptions cannot be attained without advertising. Yet, if there is no reliable consumer base, the Times cannot afford to spend money on ads.

Casual readers who have not purchased a subscription cannot be counted upon as a revenue source. Their inconsistency does not allow them to be relied upon for long-term sales. However, they can be persuaded to become subscribers. Special promotions that are tailored to their situation or lifestyle will increase subscription sales.

For example, repeat visitors to the Times’ website could be re-targeted for a free trial to the print version of the paper. If enough of these readers decide to continue with the service, the Times will have made more money in the long run. Or, existing subscribers could receive a discount flyer for the New York Times’ weekend edition. The revenue lost by giving a discount will hopefully be negated by a wave of new subscriptions.

A careful balance between advertisements and subscribers is the only way to maintain a successful, profitable business. If properly organized, any additional costs taken on in this model will be negated through sales revenues.

What is deep linking?

What is deep linking?

Time is money

Anyone who has used a search engine knows that you can easily waste hours looking for a particular piece of content. If your customers spend too much time or energy searching for your product, sooner – more often than later, you will lose them to readily available content. To combat this waste of time and energy, the practice of “deep linking” has evolved to take that customer to a specific target.

Deep links differ from broader linking practices because the deep link usually bypasses the landing page of the destination website and takes the customer to a specific location deeper inside of a website.

Deep links help to establish control over the conversion process by providing direct access to a specific goal. By taking control of the journey through customer’s conversion funnel, programmers can sidestep the need for a search and take the customer directly to the destination service, good, or data.

Deep links and mobile apps

Companies can include these deep links in a mobile text or an email format. The flexibility and speed of mobiles apps have bridged the continuity gap between the web and the mobile universe. Corporations are able to tailor the customer’s user experience (UX) to be faster and more functional. The journey has been crafted to fit the wants of the customer with the needs of the business.

A deep link is a URL that opens and directs a user to a specific location within an app. When a developer creates an app, they can register a URL scheme with iOS. For example, in our app Agenda, we registered “agenda” as the app’s URL scheme, so any URL that starts with agenda:// will deep link to the app,” – Savvy Apps.

Deep links differ in complexity, due to their intended function. They can range from being very basic to very complicated. Many variables will define the complexity, such as function, audience, and medium. A goal for your website may be the download of a corresponding mobile application. By downloading the application, the user can access the information in an email or text more quickly than going to the website. “When the app has been downloaded, the user can be taken to specific content immediately,” – Branch.

This type of mobile device behavior will only increase in order to keep users engaged and to be able to deliver content and information whenever the user needs/wants it. Deep linking makes applications more appealing, even if the user may not want to download it. Eventually, applications will be favored over websites because the functionality of the application will overcome the functionality of the website. User engagement and experience will drive the continued creation of deep linking.

If you are interested in learning how to connect better with your customers, contact Colure’s mobile development team.