Now that the excitement about the HootSuite and HubSpot partnership has died down, it’s time to really consider what this will mean for small businesses’ social media efforts. Although it’s too soon to tell whether or not this will be as beneficial as it seems, there is no denying that more and more business owners are expecting to see real leads and real conversions come from social media. Because there are so many social media outlets available, companies are quickly spending money hiring social media experts and social media data analysts to help make sure social efforts are successful (and seeing leads come from social media is much more clear-cut than the types of numbers we see today). According to the HubSpot blog, the average budget spend on social media has increased 133% in just three years.
This of course begs the inevitable questions: Is it possible to increase and gauge leads from social media, and if so, why haven’t we been doing this all along?
How Closed-Loop Social Will Work
For those who are unfamiliar, the partnership involves the all-in-one marketing software HubSpot and one of the most popular social media dashboards HootSuite, and was announced this past Wednesday. According to The Next Web, HubSpot currently claims to work with more than 6,800 companies in 46 countries, which helps them to attract visitors to their websites and convert those visitors to leads and drive growth.
This partnership aims to help marketers not only connect with customers and clients via social media, but actually create real leads and bring these leads through the sales funnel. The new beta app that stems from this partnership is known as “closed-loop social.” Below is a screenshot that the HubSpot blog included to help marketers visualize the coming-soon app:
Why Utilizing Closed-Loop Social Matters
While the partnership seems to be a good one in theory, marketers are more interested in understanding some of the ways to leverage this partnership and really make it work for their company. Below is a list of some of the benefits that HubSpot explained are coming with this partnership announcement:
- Monitor key terms used by your biggest customers and clients on social sites. This will help you potentially find other like-minded potential customers as well as stay involved with your current ones.
- Nurture leads through social media, not just a follow-up email. After all, saying “thank you” via Twitter might be more effective for some (and more and more as time goes on).
- You can setup filters for certain keywords—your company name, keywords in your industry, etc. If someone tweets “I need to buy an office printer” and you sell office printers, closed-loop social will make sure you know how to find this tweet.
Overall, it seems as though this new app is the next step in social. Being able to understand what your customers are doing on social media and then putting them through the sales funnel on a medium that they really understand (and enjoy) is absolutely going to be beneficial. Although it may take some time to master, I suspect that we will see many more social tools and marketing companies working together to perfect this idea through trial and error, and I’m sure many businesses will be following along.
How do you feel about the new HubSpot and HootSuite partnership? Do you think they have a sound idea, or is it all just the latest hype? Let us know in the comments!
Photo Credit: business2community.com