At the goal line
Thoughts and opinions on sales, marketing, social media, digital content, technology and social business.
"What's in it for me?" or better known as The WIIFM Factor is the value proposition that you offer to your target audience to persuade them that your product or service is worth their time. All too often, even the most experienced marketers neglect to convey this value proposition to their prospective customers, which therefore results in slow or stagnant sales. To really create that spark of interest and set your brand apart from all of the other marketing messages that consumers are bombarded with daily, you need to address a true need that your customer is faced with.
Writers Digest suggests that in the world of social media, the concept of WIIFM is often forgotten with push marketing efforts that offer little value to the target audience. In order to implement a successful social media marketing strategy, brands need to use their online social media pages to first cultivate strong relationships with their followers before asking for any favors. Just like in a sales call, you will be more successful if you take the time to warm up and build trust with your client first before going into your sale pitch.
An example of a brand that really embraces The WIIFM Factor is Apple. If you look at all of their marketing efforts, everything is aimed at outlining the key benefits of the technology to the everyday user. While they could easily go off on a tangent about how incredible the speed of the processor is on the iPhone 5, they keep it simple and avoid using any technical jargon that could turn off their prospective customers.
On the other hand, brands that address product features versus benefits or neglect to highlight the significance of the product to the user and how it will be helpful in everyday life are at risk of losing the attention of their target audiences. We won't offer up any names, but we bet you can easily think of a few brands that would fall into this category.
To successfully implement The WIIFM Factor in your own marketing efforts via social media, here is what your social media pages should communicate to your online visitors:
How can you assess the success rate of your social media strategy if you are not taking advantage of inbound marketing analytics? Well, without this data, you really can't. Surprisingly, most companies that arm themselves with this information choose to only monitor the basics: traffic and leads. This leaves a lot of powerful information on the table that could make a tremendous impact on the way that they market their businesses.
According to HubSpot, businesses should take a deeper look at the following key marketing metrics to position their brands to stay ahead of the game:
To assist with goal setting and progress tracking: