business news in context, analysis with attitude

by Kevin Coupe

A couple of interesting stories over the weekend that pointed to the power of social media...

CNBC reported on how New Belgium Brewing, the nation’s third-ranked craft beer manufacturer, has evaluated the importance of social media in its business.

According to the story, New Belgium spent $235,000 on its social media presence last year, including its Facebook page. The company recently surveyed its Facebook followers and found that, on average, each one spent $260 a year on the company’s products. That adds up to more than $50 million a year in sales, or roughly half the company’s annual sales.

And USA Today reported on Smashburger, the rapidly growing burger chain that “offers coupons and trivia contests for its 67,000 Facebook followers, replies to questions and complaints on its Twitter and Facebook profiles, and actively reaches out to bloggers who might write about the new Smashburger restaurants opening in their areas.”

"The brand was really built on social media and PR strategies," Jeremy Morgan, Smashburger’s senior vice president of marketing and consumer insights, tells USA Today. "Social media is an opportunity for us to engage with consumers and have a conversation, which is different than paid media, when you're just shouting through a bullhorn."

BTW...think about these stories in the context of the piece that Michael Sansolo wrote last week about the Sugar Mountain Bake Shoppe.

All Eye-Openers, IMHO.
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