The world of Marketing has been turned on its head with a new bread of digital marketers. Here’s how social media marketing is changing the landscape and 5 tips on how to leverage it.
Marketing can be targeted
Data has allowed marketing campaigns to become targeted. Traditional marketing such as street billboards would always reach a % of people that were never going to become customers. Marketing budgets can now be used more efficiently with data such as marital status, sex, interests used to present highly relevant marketing to the people they reach and therefore giving rise to a far greater likelihood of conversion.
Effectiveness can be measured
Data has given marketers a unique insight into customer behaviour and in turn the ability to frame marketing objectives so that they align with these behaviours. Data allows bounce rates, level of engagement and conversions to be scientifically measured and analysed giving the marketer ability to test, re-test, adjust and optimise.
Pilot ideas can be accurately tested
Test products and services can be presented online with minimum initial cost so as to gauge interest. Examples would include pre-launch websites seeking feedback on a product or service or a pre-funding request on a prototype idea, product or concept. Data from these endeavours will reveal levels of real interest and likely conversion rates all of which can be measured against initial expectations. The upshot is valuable insight on the likelihood of success and provision of a benchmark on whether to continue, adjust or abandon.
The Marketer knows more about the consumer
Data allows a marketer to build a profile of their potential customer. Data can be harvested on types of sites visited, brand favourites and preferred of social media, propensity to purchase online which collectively create a comprehensive picture of the customers wants and needs. Those customers can then be marketed to with their pre-determined needs in mind.
Social Media Marketing has become less expensive: A more targeted campaign assembled on foot of relevant data will give rise to a more efficient use of marketing budget and higher ROI.
Bonus: Here are 5 ways you might use Social to Build Your Brand
1. Provide Value to your online audience
With a Facebook or twitter account, you will have the opportunity to broadcast directly to your existing and potential customers. However, you will need to make it worthwhile for them to take an interest. Try rewarding users who become fans and you can do this by giving something in return. This could be a discount on a particular product, a two for one deal or even a competition with a prise in the form a free product or voucher. Allow your fans to feel that they are first in line.
2. Be Authentic
Hollywood Actor Vin Diesel has over millions of fans on Facebook. Why ? Well, it’s because he engages with his fan base. He’s not afraid to post real stories about himself and photos of his day to day life, casual snaps of him on tour, on set and at movie premiers. His Facebook page oozes honesty and that makes it attractive. Fans and followers feel like they are privy to a part of his life that is off limits to everyone else. Vin trusts his users and this shows in the type of information that he shares online. Fans enjoy this.
3. Be interesting
Read an interesting article on line recently ? Come across a great website or even a funny YouTube clip ? Try posting it and see how it goes down with your fan base. Go further and tell an interesting story about yourself and your business, share a positive (or negative !) experience that you may with a supplier or a service provider. Naturally, ensure that your sharing is relevant to your audience. The power of social media comes into its own here where tweets or posts have potential to make their way around the web by re-tweeting, liking and linking. Your users will tell their own friends and they will tell their friends and so on. Hey presto, your profile grows.
4. Offer free help and support
Users typically follow a brand or service so that they can get tips and advice for free. Nobody wants to work for free however successful social media brands have realised that the provision of “free” advice reaps rewards later. For example, if you run a catering business, why not provide free online recipes for your fans, or share the location of a good farmers market or interesting deli or food store. This behaviour will grow your fan base and then, occasionally, you can start the indirect marketing your products. Done carefully, this will allow you to advertise your products and services to your fans in a way that does not damage your online reputation and retains the appearance of the non marketer.
5. Quality, not Quantity
Lastly, don’t overdo it. Social media can be additive and you can overwhelm your fans if you give them too much information. It can also be a killer on your time. Don’t assume that fans will be interested in everything that interests you. Your fans and followers are there because they like your or have an interest in your product and try not to lose sight of that. Have a game plan for your online reputation and stay close to it.