Patrick Schwerdtfeger is a motivational speaker who can speak about social media and incentive-based marketing strategies at your next business event. Contact us to check availability. The full transcript of the above video is included below.
 

 

Full Video Transcript:

 
Hi, and welcome to another edition of Strategic Business Insights. Today we’re going to talk about incentives and how you can use them to increase your social media effectiveness. Incentives drive everything on the web today – little incentives, big incentives. But I’ll tell you what. Little incentives do as much as the big, in some cases sometimes even more.

Now, let’s take a look at a couple of examples. It’s a company called Naked Pizza, a pizza shop down in New Orleans, and they offered an incentive on Twitter, 10% discount if you tweet your order in for pizza. Now, why would they do that? Obviously, the customers get a discount, so that’s why they would do it. But why would the company do it?

Myself, I have about maybe 40,000 followers on Twitter. So If I tweet my order in, my entire network, they’re not all online, but those that are saw that I just ordered pizza from Naked Pizza. So there’s a viral element built in. In other words, how can you incentivize your customers to communicate with you over the social channel?

Right now they call you. That’s private. No one hears about that. They send you an email. That’s private. No one hears about it. Face-to-face, that’s private. But they communicate with you over Twitter, that’s social. That’s public. People find out about that. They communicate with you over Facebook, that’s the public channel. That’s the social channel. So how can you incentivize people to interact with you over the social channel?

Here’s another example. There’s a grocery store, a very fancy grocery store, and they make these chocolate chip cookies, you can smell them from down the street. They’re incredible. It’s like Cinnabon. You go into a shopping mall, you know there’s a Cinnabon. “I don’t know where it is, but it’s in here somewhere,” because you can smell it. Same thing with these chocolate chip cookies, and everybody wants a chocolate chip cookie.

Well, between three and five o’clock in the afternoon every day, you can get a chocolate chip cookie for free if you check in on Facebook. So it’s fascinating. It takes five seconds, 10 seconds, to check in on Facebook, on your mobile phone. And when you do that, you get that instant gratification. You get a cookie that smells so good, and you want to have a bite. All you have to do is check in on Facebook.

And then what does Facebook do? Facebook encourages people who check in to take a photo of themselves when they check in. And so what do all these people do? They sit there and take pictures of themselves eating chocolate chip cookies at this grocery store, and it goes on Facebook and the entire community knows that they’re giving away chocolate chip cookies. And people come, and they buy milk and bread and some other things while they’re there. It’s a brilliant use of social media. It’s a brilliant use of incentives.

Now, in both the cases that we just discussed, the incentives were small. These are not big incentives. It’s remarkable what people will do for a cup of coffee. It’s incredible what people will do for a cup of coffee. The incentive doesn’t have to be big.

So here’s the phrase I want you to remember: Micro-incentives for micro-actions. Micro-incentives for micro-actions, giving people tiny little incentives to interact with you. And ask them to do tiny little things, nothing big.

Because here’s the thing: Interaction equals trust. Interaction equals trust. If people interact with you online, their trust grows. Even if they click once on your website, what are they saying? They’re saying, “I’m still interested. I’m still curious to learn more from this website.” So getting people to interact with you builds—

They’ve done studies on this kind of stuff. The more people interact with you online, the more likely they are to purchase something from you. So what you really want is interaction. You want to build as much interaction as you can. And so providing little tiny incentives to build that interaction, what you’re in fact doing is you’re building trust along the way, and as that trust grows, they’re going to be increasingly likely to purchase something from you.

So when you’re sitting down and mapping out your social media strategy, be sure to include incentives. And getting people to do little tiny things for little tiny rewards, not just once but over and over and over again, can have an amazing impact on the ROI, on the return on investment that you get from social media.

Thanks so much for watching this video. Once again, this is Patrick reminding you to think bigger about your business, think bigger about yourself.
 


 
Patrick Schwerdtfeger is a keynote speaker who has spoken at business conferences in North America, South America, Europe, Africa, the Middle East and Asia.