Today, many companies are reaching out to their customers through social media. It is an essential tool for companies to utilize such tools in order to establish brand power and maintain a loyal customer base. Individuals are bombarded with advertisements to filter through daily, which creates difficulty for marketing strategists to attract their attention. The tools are widely available, but mastering the art of social media requires true ingenuity.

Like many companies, Cold Stone Creamery has embraced the Social Media medium to attract customers. The company launched social media based contests through YouTube and one of the first eGift applications available on Facebook. The eGift application allows users to send real monetary gift certificates that can be used in a physical store. The app was such a success that profits reached $10,000 within a month.

Cold Stone Social media Stats:

Organization: Cold Stone Creamery Social Media Handles & Stats:
Website: ColdStoneCreamery.com
Twitter: 2,460 followers
Facebook: 830,478 fans
YouTube: 26,251 views since channel created in June
Highlights:
  • A new eGift Facebook feature added $10,000 in incremental sales to franchisees in just a month and a half.
  • With social media, Cold Stone averages a cost of about 39 cents per coupon redeemed compared to $3.60 per redemption with print advertising.
  • The company added 66,000 new fans over about an 8-week period with a flavors contest.
  • A Facebook coupon increased sales 1 to 1.2%.
  • 14% redeemed the coupon compared to .02% in the past.

Other viral promotions include, special coupons, ice cream flavor contest, and throwing “World’s Largest Ice Cream Social” . Special in-store coupons offered through Facebook, such as 2 for $5, have increased in-store traffic. Within 3 weeks, 500,000 coupons were printed. The company saw a 1-1.2% increase in sales, with a 14% coupon redemption rate. 

It seems that the success of Cold Stone’s social marketing lies in the “fun” factor of social media. Cold Stone’s success should be looked at as a successful innovative model for those companies that seek to utilize social media effectively. 

 

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By: Daniel T.

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