Show me the numbers! That’s the typical response of a decision maker asked to consider an investment of time and resources into a social media campaign or strategy. Social media monitoring is becoming increasingly sophisticated, allowing managers and marketers to quantify social media ROI.
But, thanks to Jason Falls at Social Media Explorer, we also have an excellent case study to review. He shares the experiences of CareOne Debt Relief Services. Although it launched an online community in 2006, the respected debt consolidation and relief firm didn’t start using a social media team until 2009. Its job was to engage consumers visiting the CareOne community as well as consumers on conventional social media networks, like Facebook and YouTube.
The CareOne team didn’t just engage; they strategized. Team leader Nichole Kelly measured everything—starting with tracking new members entering the community via other social media networks and continuing to track them through the buying cycle.
What CareOne discovered was that consumers who connected through the targeted social media program were:
- 179% more likely to fill out a lead-generating consultation form.
- 680% more likely than non-social media prospects to complete a form they had previously abandoned before completion.
- 217% more likely to make their first payment.
The lesson is not that social media is a magic pill that creates ideal customers. Instead, the CareOne lesson is that a well-thought-out social media strategy implemented by an expert and enthusiastic team will yield relationships—and the profits that come with them.
Amy - Thank you so much for the excellent review of what we’ve been doing at Care One. I’d love to hear more about what you are doing at Social Strategy 1.
Nichole