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.
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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.
