Article written by
Dan
Social Currency Provides A Slice Of The Profit
Social Media is clearly now living up to its label as the "next big thing" with most marketeers embracing it, but critics have often questioned how it can be applied to provide a justifiable ROI.
With this in mind it is reassuring to see a global brand singing the praises of social media within its marketing strategy, with specific reference to its impact on increased profit levels.
Domino's Pizza has directly attributed a £17.5 million pre-tax profit, an increase of 29%, to their recent work in the social realm. In May Domino's moved forward with a nationwide strategy that involved the use of social site foursquare amongst others.
If you haven't heard of foursquare it is a social networking site and mobile app, that allows users to "check in" at venues they frequent. Users are then given rewards and badges for the amount of times they "check-in" at their favourite venues. The user who "checks-in" the most times in a 60 day period is also designated as the "mayor" of that venue and eligible for better offers.
Domino's used foursquare and several other social sources to deliver targeted special offers. According to Chris Moore, Chief Executive of Domino's, their social strategy bolstered their online sales which now attributed for 32.7% of all sales.
The above example of social media usage with clear links to increased profits shows how with a clearly thought out strategy social media can go far beyond simple brand awareness. The next time you are considering a social media campaign consider all the options when it comes to social marketing, including social media monitoring, so that it doesn't just become a tick in the box.
Swan Housing
Social media campaign
Swan Housing wanted to achieve additional awareness of their brand, drive more traffic to their website and achieve more sales.