Campaign Spotlight #3: Tweet and Retweet Campaigns!
Onwards with our Campaign Spotlight series! Previously, we discussed our Twitter Follow and Facebook Page Visit campaigns in more detail. Today, we’re going to cover two other new and exciting campaigns; this post is all about our “Tweet” and “Retweet” campaigns!
What Do These Campaigns Do?
Both our Tweet and Retweet campaigns are designed to help your site visitors, customers, and social media followers tell their followers about your business. Both campaigns enable you to offer a small reward to consumers in exchange for their participation.
The Tweet campaign encourages consumers to Tweet anything about your business to their followers. You get to craft a “suggested” Tweet (so that the participant doesn’t have to develop a message from scratch), and users can send the Tweet (or write one of their own) in just two clicks!
You’ll frequently find celebrities Tweeting about brands they like – or get paid to Tweet about. Here are just a few examples:
Just like a celebrity Tweet, our Tweet campaign helps turn devoted customers into brand evangelists, while at the same time earning your business lots of new impressions! More on how that works down below.
The Retweet campaign is very similar to the Tweet campaign. The only difference is that instead of asking participants to Tweet a message of their own, you’ll have them Retweet something that you’ve already posted. When one of your Tweets gets Retweeted, all of the Retweeter’s followers will see your message!
Why Should I Use Either of These Campaigns?
Brands of all sizes stand to benefit substantially from Tweets and Retweets about their business. These campaigns are incredibly powerful because new viewers will be seeing native (as opposed to sponsored) content from individuals in their social circles – yet at the same time the posts will contain powerful messages about your brand. Compared to an ad on Google, viewers place a much higher degree of trust on an organic tweet, which in turn will make them more likely to engage with and learn about your business.
In other words, these campaigns are still ads, but in a much less intrusive sort of way. That means a more effective mechanism for spreading the word about your business, which is certain to lead to increased revenue!
The User Tweet and Retweet campaigns are very much focused on the “Engage” and “Learn” steps in the Repeat Purchase Pathway; the more users engage with your business on social media, and the more they learn about it via your latest and greatest Tweets, the more likely they are to think of your store when it comes time to make their next purchase.
There are some extremely compelling facts when it comes to just how powerful the effect of Tweets from others about your business can be. Consider just a couple, courtesy of a 2013 study Twitter conducted regarding small businesses:
- 86% of users are more likely to visit a business after it’s been recommended by a friend. Considering just how difficult it is to earn clicks from ads on other platforms these days, the fact that Tweet and Retweet campaigns can boost CTRs (click-through rates) represents a huge advantage.
- 84% of people who follow or interact with SMBs mention an SMB on Twitter to share a positive experience. In other words, if somebody agrees to Tweet about your business, it’s because they have something positive to say!
Tweets and Retweets are Incredibly Powerful Because of the Multiplier Effect
What’s the “Multiplier Effect”, you ask?
We’ll take an example where your store has just received stock of a hot new product. Regardless of whether you operate out of a retail location or online, you want to tell the world about it. Knowing that your 500 Twitter followers will be eager to hear the news, you send a tweet to share the good news. Reaching 500 people quickly (and for free) with a targeted message isn’t too bad, right?
In this case, a Retweet campaign could dramatically increase the reach of your important message. After setting up and marketing the campaign through Swell, let’s say that 80 people agree to Retweet it in exchange for the financial incentive you offered, and so the Tweet shows up on the feeds of those 80 people’s followers. Given that the average Twitter user has 208 followers, that means that your Tweet would have been seen on average by a whopping 16,640 people – or 33x your Twitter followers alone. It’s pretty easy to see how the multiplier effect can lead to meaningful results on top of your Tweeting activity alone!
How Much Should I Pay For a Tweet or Retweet?
On average, look to pay about 200 points (or $2) for a Tweet or Retweet.
As opposed to a Facebook Like or a Twitter Follow, it’s slightly easier to calculate a tangible value for a Tweet or Retweet from a user – we’re going to use the CPM (cost per 1,000 impressions) methodology. (Note that we could also use the CPC, or cost-per-click, methodology here as well). When you pay for ads on Google or a social media platform, one of the most common pricing methodologies is the CPM approach.
The reason that a business should be willing to pay for impressions, or views of some particular piece of content, is that some of those impressions will lead to clicks to your website, and some of those clicks will eventually lead to purchases – no matter whether you’re a brick-and-mortar or e-commerce business.
Remember that when talking about how a User Tweet or Retweet has a “multiplier effect” on impressions, we learned that the average Twitter user has approximately 200 followers. To generate 1,000 impressions on average then, 5 users must Tweet or Retweet a piece of content.
How much you should be willing to pay for those 1,000 impressions depends on what type of business you manage. According to emarketer, the average CPM for a Twitter ad was about $10 in 2014. Pairing that with the fact that it takes 5 users on average to generate 1,000 impressions, the average business should pay $2, or 200 points, for a User Tweet or Retweet.
If you feel that your products sell for more (or less) than average, you should adjust the CPM up (or down) accordingly.
The Tweet and Retweet campaigns are part of our Standard ($5 per month) package. We can’t wait to see our merchants succeed by paying Google Adwords-like prices for impressions which are more personal, trusted, and ultimately effective in helping to create successful small businesses!