- HOW TO MARKET TEST A NEW PRODUCT OR IDEA?
- EXECUTION - WHY DO GOOD STRATEGIES SOMETIMES MISS THE TARGET?
- AN ENTREPRENEURIAL EVENING AND EXCELLENT BUSINESS IDEAS
- HOW TO NETWORK THE RIGHT WAY?
- IS NEGATIVE PUBLICITY ALWAYS NEGATIVE?
- WHAT IS THE SUCCESS RATE FOR START-UPS?
- WHAT SHOULD YOUR MARKETING BUDGET BE?
- PRICING STRATEGY: PRICE SKIMMING!
- PRICING STRATEGY: GIVING YOUR PRODUCT/SERVICE FOR FREE
- SHOULD WE COMPARE OURSELVES?
- WHAT SHOULD WE MEASURE WHEN WE EVALUATE OUR MARKETING EFFORTS?
- WHAT IS THE VALUE OF A CUSTOMER?
- DOES CONTENT MARKETING WORK?
- WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
- WHAT IS GROWTH HACKING?
- HOW MANY « P » CAN BE FOUND IN THE MARKETING MIX?
- THE CUSTOMER VALUE CHAIN
- HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
- CONFERENCE ON FINANCING - MAY 2, 2017
- WHAT IS DRIP PRICING?
- WHICH AMOUNT SHOULD YOU CHOOSE FOR YOUR PRICES?
- DETERMINING YOUR HOURLY RATE BASED ON THE VALUE YOU THINK YOU HAVE
- IS LOWERING YOUR PRICES A GOOD IDEA?
- TO OFFER OR NOT TO OFFER FINANCING?
- HOW TO PROTECT YOURSELF AGAINST EXCHANGE RATE RISKS
- WHEN IS A GOOD TIME TO INCREASE YOUR PRICES?
- DEMAND BASED PRICING
- WHAT IS A LOSS LEADER?
- HOW TO ORGANIZE A DRAW THE RIGHT WAY?
- HOW TO HAVE REMOTE EMPLOYEES
- IS IT GOOD TO BE FIRST IN A MARKET?
- THE THREE TYPES OF CUSTOMERS
- EXPORTING TO MEXICO - QUERETARO REGION
- DEFINING BUSINESS SUCCESS
- ARE YOU USING REBATES? WATCH OUT FOR THESE
- IS THE CUSTOMER ALWAYS RIGHT?
- EXPORTS AND QUEBEC COMPANIES
- COWORKING SPACES
- YOUR PLACE OF BUSINESS AND INTERNET
- WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
- HOW TO USE FREEBIES
- WHAT IS THE MAGICAL FORMULA FOR HAVING SUCCESS IN BUSINESS?
- DO YOU HAVE EXPERIENCE IN MY FIELD?
- WHEN CAN WE STOP OUR MARKETING?
- WHAT IS A CALL TO ACTION?
- WE ARE ALL SALESPEOPLE; HERE'S HOW TO GET THERE
- HOW CAN MARKETING AND SALES COLLABORATE?
- HOW TO SELL MORE TO YOUR EXISTING CLIENTS
- WHAT IS CROSS-MARKETING?
- WHY SHOULD I SEGMENT?
- WHO IS RESPONSIBLE FOR MANAGING YOUR COMPANY'S IMAGE?
- HOW TO CHARGE FOR YOUR PRODUCTS / SERVICES?
- HOW TO DEFINE YOUR PRICING STRATEGY: PRICE POSITIONING
- HOW TO DEFINE YOUR PRICING STRATEGY: MARKET PRICING
- WHAT PRICE SHOULD YOU SELL AT? - COST-BASED PRICING
- WHAT IS A PRODUCT?
- HOW TO MARKET YOUR NEW BUSINESS?
- IS BUYING A FRANCHISE A GOOD WAY TO START A BUSINESS?
- HOW SOCIAL MEDIA HAS CHANGED WORD-OF-MOUTH
- HOW SOCIAL MEDIA HAS CHANGED PUBLIC RELATIONS
- WHAT IS BRANDING?
- WHY INCREASING SALES IS NOT THE SOLUTION
- HOW TO SELECT YOUR COMPANY NAME?
- WHY HAVING A WEBSITE IS ONLY THE BEGINNING?
- WHAT IS MARKETING?
- HOW TO MAXIMIZE THE VALUE OF YOUR SOLE PROPRIETORSHIP BUSINESS
- WHY SELLING IN MEXICO?
- LOW COST MARKETING INITIATIVES
- WHY IS PRODUCT DIFFERENCIATION IMPORTANT?
- hOW TO PRESENT OUR COMPANY
- WHAT IS THE DIFFERENCE BETWEEN MARKETING AND PUBLICITY?
- 50% OF YOUR ADVERTISING BUDGET DOES NOT PRODUCE AS MUCH AS THE REST
- RIGHT SELL AND OVER DELIVER
WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
Social media is on everyone’s lips; professionals and companies wanting to grow and stand out must nurture a presence on social media. But why?
Depending on your strategy, social media can be viewed as a huge database that could be compared to the old telephone directories or it can be viewed as the network of people who are connected to you.
In the first case (database), it can be accessed via advertisements on social media. Of course, the telephone books analogy is limited as targeting on social media can be a lot more precise with filters such as: region, interests, age, etc ... But here we are talking about getting new customers and the costs that go with that.
At the other end of the spectrum, we can see social media as a way to access the contact network of people around us, not so different from the good old references or word-of-mouth strategies that we all know and use. In fact, this is the digital form of a proven strategy that works for companies who are active on social media.
For my clients and myself, most of the strategies that I suggest aim at fostering a good relationship with current customers and promoting references through the existing network (clients and employees) to attract new customers. Why? Let’s puts clients in three categories:
- - Existing clients;
- - Referred clients;
- - New clients.
It is comparatively more profitable to sell more to existing clients by developing a good communication strategy aimed at keeping them informed and involved. Social media is a great tool for that.
Then we have the referred clients who come from the network of people around us. To get this segment going, social platforms are a great tool. Articles, events, news, informative videos, etc... are all excellent opportunities to stay in touch with our people who can SHARE this valued information with those around them. There is a cost to implementing this strategy, but this is far less than the one needed to get new customers.
Do you have questions about your social media strategy? Contact me, I will be happy to answer them.
Stéphane Elmaleh-Riel, B.Ed., MBA