Come to the LSM Benchmark Study Breakfast on 6/27 in NYC
June 24, 2019 | Contributed by: Greg Sterling
LSA and SOCi have just completed a Localized Social Marketing (LSM) study of 163 franchise brands, with nearly 50,000 local pages/profiles. The study (and related awards) will be presented this week in New York on June 27. The event is free to attend but you need to register because of limited space.
I worked on the study and will be there presenting the findings. Multiple brands will also be present to discuss their social-local marketing tactics, challenges and success. The study came out of a discussion about whether Localized Social Marketing best practices had any impact on real-world business outcomes.
It reveals some very interesting things, among them: ratings are highest on Facebook and lowest on Yelp for the same locations, consistently. In addition, brands had uneven execution across these platforms pretty routinely — stuff that can be easily remedied.
In doing the assessment, we looked at and scored three categories of variables for 100 locations for each franchise on Facebook, Google and Yelp: presence, reputation and engagement. The headline is that the LSM leaders have sales growth figures 3X of the average for the companies examined. The companies were chosen from Franchise Times’ Top 100 Largest Franchises and Entrepreneur’s 100 fastest growing franchises.
If you’re in New York and you’re an agency, in-house marketer or brand focused doing Localized Social Marketing (or LSM curious), this will be a very interesting event and discussion. You can register for free here.