Squeezing ROI From Social Media Marketing

Recently, Christopher Petix, President at Clash-Media US wrote an article about the changing world of Digital Marketing and how it would evolve in 2010. The article, The World of Digital Marketing 2.0, touches upon how brands utilizing social media marketing must establish baselines and understand metrics as part of their social media marketing strategy Doing so is paramount to their marketing success.

The past couple of years have been all about squeezing as much Return on Investment as possible from every marketing effort. As a result, advertisers and marketers have a new set of parameters and broad goals for establishing a campaign. The good news for these groups is that there are a number of tools and techniques available to help them achieve these goals.

He goes on to talk about how brands are partnering up with digital marketers and focusing efforts on evaluating their campaigns. Doing so helps them achieve optimum efficiency as they can turn on a dime if they’re need achieving their goals and objectives. Sure, conversion rates will fluctuate during a campaign, but quick reactions can improve the campaign’s performance.

Another point Petix makes is about niche websites and networks. As today’s consumer (and franchise candidates) are more technologically advanced and social media savy, more time is being spent outside the realm of typical social media circles of Facebook, LinkedIn and Twitter. Instead, being more diligent is more the norm rather than the exception. Diligence that takes marketing targets to industry sites, brand-specific social networks and blogs to gather even more information. More importantly, it takes them to places of interaction and information sharing between and among others with similar goals and objectives.

Using Social Media as written by Christopher Petix

Burger King’s “Sacrifice Whopper” was one of the most infamous campaigns of 2009 to have created a social media buzz. One of the biggest on-going hot spots for 2010 will be how can more companies tap into the vast resource of social media.

Social media accurately gauges consumer brand perception and sentiment, though the avenue for more direct marketing and advertising opportunities is harder to navigate. The key to using social media for marketing and customer acquisition is targeting, which helps ensure that the highly coveted user experience is not affected.

Individual organizations can use several approaches to identify customers through social media, they include: post-registration offers, banner advertising, Facebook CPC or social media apps. All of these ensure consumer exposure, but which ones deliver measurable and effective results is individual to every organization. Those advertisers that have learned what they need to look for in a campaign should be a step ahead as they explore new avenues of customer engagement – so by the end of 2010, most will have a coherent social media strategy producing bottom line dollars.

Christopher Petix serves as the President of Clash-Media working in the US office. With over 15 years of online experience he brings a wide variety of knowledge working at company’s including Double-Click Media in the start-up, founding his own tri-lingual travel site, heading up Vendare Media’s team on the East coast, as well as CoregMedia. His emphasis on client services and retention have allowed him to cultivate numerous longstanding business relationships in the online advertising industry.

Great Facebook Apps for Business

Great article in this month’s issue of Website Magazine, Making the Case for Facebook by Matt Goulart, Founder and Lead Consultant with Webstar Content. In this article, Matt states, “With the decline of traditional television and print advertising, it is getting harder and harder to find effective ways to attract consumer attention. Increasingly, many businesses are moving toward online and social networking tools. Facebook can be a highly effective cost-free solution.”

So, why Facebook? Well, as many are aware, Facebook is the world’s largest social network!

Seven Great Facebook Apps for Business
From the Staff at Website Magazine

Contests – Businesses can create and launch branded contests on Facebook Fan Pages within minutes. Available formats include photo contests, video contests, design contests, logo contests, essay-based contests and more. Contests are a great way to build brand awareness, build content on Fan Pages and recruit new fans.

SocialToo – Enables users to update their personal profile pages, any Facebook Fan page they administer and even remotely to Twitter from the convenience of the status update box.

SocialOomph – Provides productivity tools for social media users and includes tools for Twitter, StatusNet, and Facebook. Facebook users can schedule status updates for their accounts to be published at dates and times of their choosing.

NetworkedBlogs – Promote your blog on Facebook and discover new blogs. NetworkedBlogs is a community of bloggers and blog lovers. Join the fun, add your blog, and connect with others who read and write about subjects you like, as well as promote your blog to active social media users.

RatePoint – Lets users create e-mail newsletters, collect reviews and testimonials and build surveys for free. Connects to Facebook and Twitter easily and allows for share reviews and newsletters with Facebook Friends and Fans, and Twitter followers.

Jobmagic – A social media recruiting application that expands a recruiter’s reach by leveraging Facebook, LinkedIn and Twitter social media channels to help start a dialogue with other candidates which other recruiters cannot.

Social Store Builder - Enables a Volusion store owner to display and sell products directly on their Facebook page. After clicking on a featured product, the customer is taken to the store owner’s secure, one-page checkout to complete the transaction.

Social Media Enhances Email Marketing

In 2009, e-mail marketers started to get social, but 2010 will be the year social media makes e-mail marketing more powerful, according to eMarketer.

Social media is a partner, not a threat, to e-mail marketing because it provides new avenues for sharing and engaging customers and prospects.

Even though people are spending more time using social media, they are not abandoning e-mail. The two channels can help each other, offering the opportunity for marketers to create deeper connections.

Source: Adweek

What is IFA Fran-Guard?

The International Franchise Association‘s new, greatly expanded franchise sales management and compliance program will help franchisors take proactive steps to reduce risks, manage growth, and build a stronger, healthier franchise system. IFA Fran-Guard covers both the legal and business aspects of compliance with a series of modules designed or CEOs and senior executives, franchise development professionals, in-house counsel and franchise attorneys, paralegals and compliance managers.

CEOs and Senior Executives

Not only does a system-wide compliance program protect your franchise it can make it more profitable. Modules cover the Business Case for Compliance, Franchise Sales Growth & Management, and Best Practices.

Franchise Development Professionals

There’s more to compliance than legal requirements. Learn how a sales management and compliance program can increase your effectiveness and help drive franchise sales.

In-house Counsel, Franchise Attorneys, Paralegals and Compliance Managers

It’s important to integrate all aspects of franchise sales management and compliance from disclosure to franchise sales, field support, and operations. IFA Fran-Guard modules cover practical steps to implement a system-wdie compliance program.

All CFEs and CFE Candidates

IFA Fran-Guard has been incorporated into ICFE’s professional development program. IFA members who successfully complete the IFA Fran-Guard program will receive an ICFE Fran-Guard Certificate. All modules are approved for CFE credits.

Where is IFA Fran-Guard Available

Programs will be offered throughout the year at various IFA meetings and conferences and in different formats to make participation more convenient. Courses will be presented online via IFA University and through a series of webinars. A schedule of upcoming sessions may be found on the IFA website.

Fran-Guard Discussed on Franchise Today

Recently on Franchise Today, Paul Segreto welcomed as his guest, David French, Vice President, Government Relations at the International Franchise Association. Paul and David discussed franchise compliance and the development of the IFA FranGuard Program previously introduced at the IFA Convention in San Antonio. Listen On-Demand

About the International Franchise Association

The International Franchise Association, the world’s oldest and largest organization representing franchising, is the preeminent voice and acknowledged leader for the industry worldwide. Approaching a half-century of service with a growing membership of more than 1,100 franchise systems, 10,000-plus franchisees and more than 500 firms that supply goods and services to the industry, IFA protects, enhances and promotes franchising by advancing the values of integrity, respect, trust, commitment to excellence, honesty and diversity. For more information, visit the IFA Web site at www.franchise.org.

Source: International Franchise Association

Misinformation About Franchisors and Bankruptcy (Updated)

Recently, I pointed out to the franchise community, an article on About.com about franchisors and bankruptcy. Having worked with a franchisor that was forced into bankruptcy, I knew the article was way off-base, the alleged facts entirely inaccurate, and the suggestions directed at franchisees alarming to say the least. I knew I could not sit back with a clear conscience thinking that franchisees may act on this misinformation.

Since then, Dan Daszkowski, the person listed as the author of the article, “How to Prepare for Franchisor’s Bankruptcy” contacted me and explained his position in the matter…

“Hi Paul, Thanks for pointing this out to me. This was totally my fault because I hired a writer that I felt was knowledgeable in this area to write this article and blog post and they obviously were not.

As an About.com Guide I am able to hire subcontractors to write and I only do this from time to time when I feel someone is more qualified than I am to cover a certain topic. Obviously I made a bad judgment call with this writer and I am glad you pointed it out. I have taken down the article and blog post to avoid any further confusion and so I do not mislead any franchisees that are currently in this situation.

I understand your frustration but I think you took it a little far in your blog post “Read Mr. Daszkowski’s bio and tell me if you believe he has the experience and knowledge to render legal advice about franchising, bankruptcy or about anything!” I have deleted the incorrect information from About.com and it would be great if you can delete this post as well. I am fully aware I do not have the experience to give legal advice but the rest just seems like a personal attack…”

Well, here’s my response to Mr. Daszkowski:

My only goal in writing my post was to point out and emphasize the misinformation provided in your article. As information published on the internet has the capability, if not probability, of lasting forever, I wanted to be certain there was no mistake the information provided in the article was inaccurate and that you could not possibly be mistaken for an attorney.

You stated to me that you felt I took the issue a little too far and personally attacked you. I am sorry that you feel that way but I do not regret my actions and statements as they were obviously instrumental in addressing inaccurate information and unwarranted advice that could have been catastrophic to any franchise system facing bankruptcy.

Speaking from experience, I have seen franchisees blindly follow similarly wrong advice as provided in your article only to be ordered by the United States Bankruptcy Judge to remit all withheld royalty payments to the franchisor within five days of his decision. Unfortunately, many of the franchisees had “spent” the monies that should have been earmarked for [eight months] royalties causing a near-catastrophic series of events as they had to come up with thousands of dollars they no longer had in their possession. The potential consequence for not abiding by the order: contempt of court and possible jail time!

When all was said and done, the franchise system unraveled and franchisees that may have survived, even as independents, ended up out of business or ironically, in bankruptcy. As for the brand and trademark, as well as the franchise agreements, as I recall, they were considered assets of the franchisor, and subsequently within the jurisdiction of the Bankruptcy Trustee.

So, [Mr. Daszkowski] thank you for pulling down the article to avoid any further confusion and to prevent franchisees that are currently in a bankruptcy situation from being misled.

Respectfully,

Paul Segreto