How Can Jewelers Tell If Their Social Media Plan Is Working?

A roundup of social media news to help jewelers improve their marketing techniques.

1. Determining whether a brand’s social media ROI is still a blend of art and science. However, Small Business Trends put together a list of 30 things a business can look for to see how successful their social media plan is. The most important takeaway is a company needs to listen and interact with consumers on social media. “Social media is not a one-way communication street” should be drilled into the head of every social media marketer.

How many things on this list can you say your business is doing right now on social media? What would you add? What do you disagree with?

2. Every Facebook like a brand page gets is worth $174.17, a 28 percent increase from 2010, according to a study by social media intelligence firm Syncapse. The study also found that Facebook fans spend $116 more than non-fans on the brands they like—even though they have lower incomes than non-fans.

How much effort do you put into cultivating Facebook likes? How do you interact with your Facebook fans?

3. Ninety percent of affluent consumers are active social media users, according to a LinkedIn study. Retailers should take notice that 36 percent of the mass affluent use social media for discovery and consideration, a number that is certainly only going to rise.

How do you target to luxury customers on social media?

4. Mobile payment systems aren’t only for the big retailers. More and more small businesses are utilizing mobile checkouts, which is improving cash flow, according to this USA Today article. Jewelers shouldn’t be caught off guard by the growing mobile trend that is quickly becoming a business norm. In my opinion, having a long-term mobile plan is essential to a retailer’s future health.

Has your store embraced mobile payment? Do you think mobile will become a necessity for retailers in 2013?

5. Consumers like to talk about what they buy and what they’re shopping for on social media. It’s not that hard to find out what they’re saying about your business if you know where to look. Check out these tips from Intuit on ways you can listen to your customers’ conversations about your brand online.

What’s the nicest thing you ever heard about your business on social media? How do you respond to a negative review?