Social Media Marketing

What Executives Need To Know

Social Media Marketing is powerful.

In fact, it could be argued as the most powerful marketing channel available today. We’re going to go into why it’s so great, and what makes a successful Social Media strategy. Primary Benefits of Social Media Marketing Scalability Audience Highly Receptive to Quality Advertisements Influence Purchase Decisions in a Measurable Way Incredibly Low Cost for Quality Campaigns Relative to Old Mediums Ability to Engage Very Specific Audiences in a Way Never Possible Before.

The Power Of Social Media Marketing

One of the primary issues established businesses run into when trying to expand is their scalability. Typically, companies rely on traffic from Google, word of mouth, direct sales, or old media to grow. With Google, there are only so many people searching for what you offer every month. For TV, the amount of quality impressions can only be so high, and quality spots are expensive. Social Media fills both gaps left by these mediums with inexpensive campaigns that can be executed at scale.

A Receptive Audience

While most be dislike to be advertised to on other places of the web, 95% of Social Media users follow a brand. People are quite literally signing up to be advertised to. Crafting your brand message to be easily consumable and respecting a users context (more on this later) will bring success.

Measurable ROI

From posting regular content on an Instagram, to twitter ads, everything done through Social Media Marketing is trackable. Rather than guessing at which pieces of content or messages resonate with users, detailed analytics allow brands to measure which pieces of content have the greatest return on investment. Gone are the days of spending for “brand awareness” with dubious metrics.

Incredibly Low Cost for Quality Campaigns Relative to Old Mediums

If you’ve been around conversations of marketers, you’ve heard the words “CPM,” which refers to the cost of reaching 1,000 people. TV ads, coming in at an average $25 CPM, are twice as expensive as Twitter or Facebook ads, which often average between $10-12 to reach the same number of people.The cost per CPM for Social Media Marketing depends on a few factors, but $10-12 for video campaigns is typical.

Ability to Engage Very Specific Audiences in a Way Never Possible Before

Within your marketing plan, there are many different messages and deliverables designed to be served to different groups of people. With Social Media, the possibilities and combinations for targeting audiences is limited only by creativity. It is possible to remarket to customers with the highest LTV with special new products, to users who watched specific videos, to website visitors that didn’t purchase anything despite looking at a product page, or even users who purchased from you three years ago that haven’t revisited your website since. For targeting new users to expand your customer, there are basic options such as targeting basic demographics like age and gender, but there are more advanced options to target people who are “in market” for certain products like cars, or those who have affinities such as “fishing,” and the like. The amount of data that these platforms collect about users is truly astounding.

Social Media: How To Win

Social Media allows you to measurably reach the right groups of people at scale very inexpensively. No other form of advertising can bring these results, measurably, at this cost. With a value proposition like this, there is bound to be a lot of competition. To beat out competitors who are all fighting for a users attention, the primary goal of a brand needs to be respect for the context of the user, all while standing out. Stand out in a bad way, and a campaign will be very unsuccessful, stand out in a good way, and the possibilities are limitless.

Context

No matter which Social Media platform, there is a context for the user to be there. The primary goal of an advertiser should be to respect the context of the visit to the site, leverage it through their messaging, and finally create a funnel to sell their products or services.

Context For Different Social Media Platforms

There are two different contexts for users in Social Media. Some Social Media platforms exist solely for research, others exist for entertainment. Most users, expect a bit of both out each of their platforms. The bottom line is, if you are not providing value to your target audience through engaging informational content, infotainment, or entertainment, you are doing it wrong.

The Search Intent

Did you know that Youtube is the second largest search engine only behind Google? Users love to learn visually and the amount of monthly active users on Youtube is poised to overtake Facebook’s as of August 2018. While Pinterest sits at much lower 200 million active monthly users relative to Youtube’s near two billion, these 200 million users are incredibly engaged shoppers.

Youtube

The process for success for meeting a users search intent on Youtube is simple:

1.Find what your customers are searching for

2. Create a video that answers their questions in a way that no other videos do.

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3. Promote the video to audiences that are “in market” for a certain product/ service like vehicles or alarm systems, or target based upon interests and demographics. If actual users watch your video and get real quality out of it, your video will begin to pop up organically and users will click on it at no cost to your company.

Take this ad for example. As someone who is in the market for a home alarm system, seeing a video explaining the top alarm systems provides value to me, and I will be much more likely to purchase through Yahoo because they were there when I was looking. They took the search intent of “what is the best alarm system?” And the served an ad to me before I had the chance to make that search.

Pinterest

Pinterest is a visual first search engine platform that allows users to search for ideas, and “pin” them into different “boards” that represent their different categories of ideas. Advertisers can show their relevant content while people are searching to influence purchase behavior. In this case, Pottery Barn isn’t directly advertising a product, but is instead promoting a “checklist.” This checklist gives the searcher something desirable to click on that will then lead to a purchase. Pottery Barn used a “value first” approach where they give the user something first, with a plan to convert that user through the checklist or at a later time.

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The Entertainment/ Infotainment Intent

Social Media platforms Facebook, Instagram, Reddit, Twitter, Youtube, and Linkedin all exist for users to follow content creators/ friends and be engaged by what they have to produce. There are: Massive Facebook comedy pages getting millions of views a day Huge celebrities putting out content about how to be an entrepreneur on Instagram Massive Reddit communities around niche interests like Jiu Jitsu or PC gaming Massive celebrities making people laugh on Twitter and users casually talking to each other directly like no other platform Youtube personalities producing strictly entertaining content or teaching users on a weekly basis gathering millions of views Influencers break industry news and share helpful tips on Linkedin

Reaching and Selling To These Audiences

The content development process is simple. Find who your target audience follows, see the most popular content they consume, and craft your brands content to elicit the same emotional and intellectual response. By “blending in,” with what users are already consuming, and “standing out” with your content, you can reach users in a way that respects and leverages content.

Facebook

People on Facebook are there to connect with users they know and interact within groups of people who share similar interests. Users scroll, pause, and take in the piece of content they’re looking at, and move on. Users primarily are looking for an emotional connection when connecting with their friends, or find value for something they’re interested in, like a hobby. This Nike ad promises the emotional value of “Leaving Them Shook” with their product. When this ad is shown to an avid football player, they would relate to it and see the value they could get out of buying their products.

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Instagram

If people move quickly through posts on Facebook, users browse at lightspeed on Instagram. Instagram was built to be a platform where users share photos and quickly scroll through to see what their friends, favorite brands, or celebrities post.

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Instagram is a very visual platform where beautiful, bright, simple images dominate. The following image is beautiful, simple, and tells me exactly what I need to know without me ever having to read a description.

Reddit

Reddit is comprised of highly engaged communities called “subreddits,” that range from communities that post the top headline of news from 100 years ago, to legal advice, countless communities for professionals in the same industry, communities to discuss TV shows, followers of specific diets, or even niche communities for those looking for deals on clothes. Advertisers target “subscribers” of certain subreddits, and users will then see the ad while they are scrolling.