by Jye Smith
June 3rd, 2014

The digital-marketers of today must understand the relationship between digital strategy, e-commerce and social CRM to effectively use social media to monetise leads.

The social web is powered by word-of-mouth – it is the digital-conversation between consumers, stakeholders and brands. For marketers, social media as a form of online interaction is unique – it is a combination of owned, earned and paid media.

Like any form of word-of-mouth, it has an indirect, yet exceptionally significant impact on reputation, which does impact sales, leads and customer retention.

Social media is evolving: and social media has been recognized as a powerful customer service and feedback channel. This new era of social customer relationship management (social CRM) can be used to evaluate and drive monetisation.

Best practice in these areas is defined by providing value, utility or entertainment through content. This will both improve interest and reputation over time. Hard sells and promotions should be left to the channels most appropriate in the customer buying-journey or product lifecycle.

Meanwhile e-commerce and search engine marketing (including both paid and organic optimisation) provide a direct lever to drive leads, sales and continue customer relationships.

Jye Smith is head of Mediaco, Asia Pacific, at Weber Shandwick

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