Most companies have realized that a customer base who engages with them is good for brand recognition and public relations. But social media is still a low priority for many companies and organizations because they have not seen the dollar amount in revenue or profit directly tied to social media efforts. Those people say, great, we tweeted about a project we’re working on, or about a show at which we are exhibiting or sponsoring. How can we measure likes, retweets and follows in monetary contribution?
There isn’t an exact science, but there are plenty of metrics you can use to associate a revenue stream from single tweets, posts or any other social media effort and connect it with your business’ bottom line. Our friends at Shelten Media developed a short case study about their client The Matthews House to show exactly what the power of social media can do to increase revenue.
The Matthews House is an event venue located in Cary, North Carolina. It has Southern charm and is an ideal location in the Triangle area with a picturesque setting, but it was not very well known. The Matthews House wanted to increase business and make a name for itself not only as a wedding venue, but also a place to hold corporate and other life event functions.
With a small marketing budget, The Matthews House used it on an integrated social media campaign, with the help of Shelten Media, specifically focusing on its Facebook page. In less than a year, their monthly events increased by 1,000 percent, and information requests increased six-fold. How did they do this? They posted consistent content with a few entertaining ideas that resonated with potential customers. For more details of how they engaged people, download the entire case study. What can you do on social media to increase your bottom line?