On social media and the right POV for brands…

social-media-trends-2014

When I started Sircle Media in January of 2012, the social media conversation was an uphill battle for sure.  I would meet with owners, and/or Marketing Directors and would have to hard sell (READ: convince) them on why this was an important frontier for their business.  75% of the initial conversation was about proving their initial preconceptions about social media wrong. It was exhausting but so necessary.

These days companies are more “hip to the game,” meaning they are committed to being active in social, but that being said, I think that many brands are still half pregnant on the topic and are not fully committed.  They don’t know if they should treat it like marketing, customer service or sales and they are often too singular in their focus. They are just not committing where they need to – let me explain:

1- They spend too much time overthinking content - Yes you need to be on brand, you need to be consistent and you should think about what you want to say and how you want to say it. That being said, many brands spend too much time overthinking their content in my opinion. We have talked about documenting over creating before (thanks, @GaryVee) and we suggest doing more and learning, as opposed to carefully crafting every single word and image. It is not branding, PR or even direct response where you want to say as much as you can, in as few words as possible to elicit the desired response. Those are controlled mediums, whereas social media is uncontrolled.

RECOMMENDATION: Be more flexible and fluid with your content and copy and see what happens.

2- They are thinking of social media as “a silo” - Sometimes I speak with some clients who think social media is just about branding and doesn’t create sales (WRONG) and then I speak with others, who think it is only a digital and e-commerce play and doesn’t help offline business (WRONG AGAIN).  It really is a horizontal layer that touches all parts of your business and stretches across different departments and initiatives.

RECOMMENDATION: Think about your different departmental needs and goals and then think about how social media might be able to help in each. Solve for the positive, rather than for the negative and unlock ways that social can be more useful. 

3- They are not investing in paid social - Many brands are active on social but are not leveraging the Facebook and Instagram paid social ecosystem. Some feel social should be organic only (myopic POV) and some are using paid, but strictly for e-commerce acquisition. These are the most powerful advertising vehicles on the market and provide more real actionable and supportive data than any predecessors.

RECOMMENDATION: Invest more in paid social, learn the platforms and products and leverage them to grow your business. Whether you want more exposure/reach, more engagement and/or more traffic and sales on your website (or in your store), paid social is your number one vehicle for this. It is highly effective, underpriced and extremely targeted. Start budgeting and implementing paid social ASAP!

4- They are not focusing on video - I have talked about the importance of video before and while the majority of brands I speak with these days totally seem to follow and want video, most are not backing that up with action. Video helps with storytelling in a more effective AND efficient way and will shorten the learning curve for consumers.  You can hack better reach, engagement and action on your social content, as well as your website, email and other advertising efforts with video.

RECOMMENDATION: Commit to video and start creating a lot of it. I’m talking about motion graphics, live action AND even going live on Facebook and Instagram, which will provide more depth and insight into your business. 

5- They are not paying influencers - Most of my clients are working with influencers in some capacity, which shows they fully understand that those influencers bring with them an audience that is worth reaching. So if this is the case, why be totally closed to the concept of paying them for that service? If you aren’t open minded to at least exploring paid partnerships, then you are going to leave a lot of opportunity and money on the table.

RECOMMENDATION: Allocate some budget to paid influencer engagements and then court, review and select partners who offer real value for their price point. Pay close attention to the types of engagements they offer, how they have performed in the past and what type of engagement they get from their community. Negotiate best case pricing and explore the most creative ways to work with each individual influencer. 

It is my opinion that if you are going to be active with social media, then you should be all in.  You have to have the right POV on content and benefits and then be deploying the best tools to help you succeed. The mentality is the swing and paid social, video and influencers are the nasty topspin follow thru…Your serve!

 

 

Add a comment

Tags: , ,

On investing (financially and mentally) in paid social…

Social-Media-Advertising-01

Social media advertising (meaning spending money on Ads products from social networks) is a must have, plain and simple. The faster Brand Managers and CMO’s get their heads around that the better off their brand will be. How much to invest and how to allocate is the next question.

Truth is there is no boiler plate budget to allocate, especially for a brand still trying to figure out its way on paid social.  First, I think it is important to not think about it as paid social Vs. traditional means of advertising, because it becomes abstract and decision makers get gun shy about jumping into an unknown arena. We suggest you think as a human being living in 2017 and think about where people are paying attention and how you can reach them cost effectively. If you can find underpriced areas to reach targeted prospects, you should entertain that, wherever it might exist, right? Make a threshold decision to at least explore those and you’ll find that social media platforms are very attractive in that regard.

One you have made that smart decision, then I do think you need to be able to allocate a healthy budget that is consistent and doesn’t waiver as soon as the winds change.  I suggest brands allocate enough so they can balance between acquisition, retention and R&D/experimentation. Explained further:

You want to be able to allocate funds to reaching brand new eyeballs and bringing them in at the top of the funnel. This is done with clicks campaigns and boosted posts targeted at new audiences. It is very important to allocate a fair amount to this initiative, as this is your method for advertising to brand new prospects. You cant skimp on this and you need to constantly feed the top of the funnel, if you ever wish to convert consistently downstream.

Almost 10 years ago I purchased a billboard placement for 1 month on the Long Island Expressway for $30,000 because it allowed me to put my message in front of “over 1 million commuters” (BS) to create the same type of awareness.  Mind you that those commuters were not all looking at our ad (most weren’t), were not targeted (so our product didn’t apply to many of them) AND there was no CTA at all to move them down the funnel and/or track them. Social networks allow you to target the right audience without overpaying for the reach of others, provides you with a CTA opportunity AND awesome insights and reporting.

You also want to take people further down the funnel with retargeting as part of a conversions campaign and want to message to your earned audiences (visitors, emails, fans etc.) to keep them in the community and engaging with and hopefully sharing your content. It also allows you to have a more receptive group to target when you roll out new products and SKUs. Those who know and love the brand are the most likely to pounce when you diversify and add more options.  Retargeting is a surefire way to convert new customers and repeat customers too, just with slightly varied messaging. New sales are your foundation and turning a one time customer to a repeat customer, is a very important building block for online success.

Lastly, you want to have a budget focused on experimenting with new techniques (different audience segmentation, dark posting etc.) and with new products from social networks as they roll out, so you can be an early adopter and capitalize on underpriced attention before the big guys roll in. Facebook, Instagram and Pinterest continue to roll out advancements (seemingly daily) and you want to have dollars available to put in play.  Whereas Google PPC Ads are very overpriced and flooded in most categories, Instagram Ads optimized for video views, are actually less so and provide great value for their price.  We are big believers in that approach at the moment and the clients we have with those available funds are reaping the benefits of this recommendation.

Bottomline is you need to first commit to the idea that social networks are a real value play for your budget. Then you want to allocate funds to all three of the areas above, and don’t want to deplete an initiative to fund another one, before you give it the chance to really kick in and return nice results. Now I am not saying it needs to be equally distributed into thirds, and at times it will likely lean more heavily in one area.  What I am saying is brands need to fund all three consistently, monitor the performance closely AND remain focused on proving the positive (it works) rather than the negative (it doesnt).

Do that, and you will win!

Add a comment

Tags: , ,