Social Media Explorer: Social Media Customers Are More Valuable Customers
It should read: Engaged customers are more valuable customers.
But in 2009, CareOne started using a social media team, led by Nichole Kelly, to not only help spread the word about CareOne through social media channels – Facebook, Twitter and YouTube – but to engage customers in their already active online community as well.
What CareOne found was that the personal connection for consumers (having some sort of social media contact with the company) led to a longer buying cycle (24-28 days versus as low as 30-minutes for those without a social media relationship with the company), but an incredible jump in successful conversions through the sign-up process and ultimately the point of purchase.
How much of a conversion? Social media connections filled out the consultation (lead-generation) form at a 179% higher rate than the typical customer. Sales? They were 217% more likely to make their first payment. For one particular problem area (people who partially fill out the sign-up form then quit), social media prospects went back and completed the form at a 680% higher clip than non-social media leads. They made their first payment at an astonishing 732% better rate.
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