Recommend a Social Media Marketing Strategy

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SOCIAL MEDIA MARKETING: 5 WAYS TO SUCCESS.

WIKMAN, BRANDON [email protected] COTTRELL, COLLIN [email protected]

Archery Business 2013 Archery University, Vol. 38 Issue 4, p32 4p.

English

*BRANDING (Marketing) *INTERNET marketing SOCIAL media in marketing BUSINESS enterprises INTERNET traffic FACEBOOK (Web resource)

The article discusses how social media marketing provides an opportunity for businesses to maximize positive branding impressions on their prospects in every transaction. Social media marketing is defined as the process of gaining website traffic through social media sites. It offers Internet marketing tips that can prove the value of investing in Social Media networks like earning customer's trust, measuring Social Media success and collecting vital information and consumer data via Facebook.

Cofounder, Maxima Media

10500693

Publication Type: Article Update Code: 20130624

88333353

SPORTDiscus with Full Text

SOCIAL MEDIA MARKETING: 5 WAYS TO SUCCESS

Most successful businesses in the outdoor industry understand that marketing does not end with the sale, but rather begins after the first sale. The great thing about social media marketing is that it allows businesses an opportunity to maximize positive branding impressions on their prospects before, during, and after the transaction.

Let's start from the beginning. Social media marketing refers to the process of gaining website traffic or attention through social media sites, such as Facebook, Twitter, YouTube, and Instagram, just to name a few. Social media marketing at the very core is creating valuable content that attracts attention and encourages readers to interact with brands in a personalized way.

A corporate message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself. Hence, this form of marketing is driven by word-of-mouth, meaning it results in earned media rather than paid media.

Social media has become a platform that is easily accessible to anyone with Internet access. Increased communication for organizations fosters brand awareness and, often, improved customer service. Additionally, social media serves as a relatively inexpensive platform for organizations to implement lasting and memorable

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marketing campaigns. Social networking websites allow individuals to interact with one another and build relationships that touch customers in a completely new way.

WHY ARCHERY BUSINESSES SHOULD CARE A new study from the Pew Research Center and Docstoc sheds some light on just who uses social media, and on what platforms. More than 72 percent of adults with annual household incomes below $30,000 use social networks--more than those with higher wages. Women use social media 9 percent more than men, and the average age of Facebook users staggers between 18 to 29 years of age. Although a younger audience has always remained the largest percentage of users, over the past few years an older, more-affluent audience has gained significant ground. There is no denying the power of this medium--the entire world is connected under one source. There are some who believe social media is a passing phase, but these statistics say otherwise.

What follows are a handful of Internet marketing tips that significantly prove the value of investing in Social Media networks: Facebook, YouTube, Instagram, and Twitter.

1. EARN YOUR CUSTOMERS' TRUST

According to Nielsen Media Buzz Metrics, more than 90 percent of consumers trust recommendations from people who they know: i.e., through friends' Facebook, Twitter posts and YouTube videos. These brand advocates are critical endorsers for your business because they are so influential in the New Age hyper- communication paradigm.

Today's outdoor enthusiasts put faith in unsolicited, unfiltered, and raw third-party testimonials from independent sources. Consumer behavior changes as the world's technology evolves. Social media allows companies a platform to humanize their brand and communicate with their target market using a two-way communication model--unlike traditional TV or print advertising. Social media allows customers to share their brand experiences in a viral manner that can either help or hurt your brand.

2. MEASURE YOUR PERFORMANCE

Social media can be measured through a plethora of contexts depending on your company's strategic objectives and goals. The biggest misconception for not only social media, but all marketing communications alike, is that you can somehow track every last penny spent and generated. You simply cannot--we're marketing to human beings, not computers. Their environment can easily sway their purchasing behavior. Your Facebook page, Twitter, Instagram, and YouTube channel are just one part of that environment.

Measure your Social Media success through Google & YouTube Analytics as well as Facebook Insights; website referrals, new fans, links shared, comments posted, product reviews, etc. These are statistics that managers can analyze to review their performance over a week, month, and year. It's intuitively obvious that someone who "Likes" you on Facebook is more apt to purchase from you and recommend your products to their "network." Return on investment (ROI) cannot be strictly calculated by financial return, but rather brand awareness, brand recognition, brand perception, and using analytics or statistics from each social network.

3. MARKETING TO TODAY'S NEW AGE CONSUMER

We've all learned in Sales 101 that the key to traditional selling is based on features, benefits, and solutions for your customer. However, we now live in an era where communication is literally at our fingertips and information can be broadcast to an ultra-connected network instantly. We must focus on Sales 201, which is leveraging technology for both efficiency and effectiveness through the Social media platform. Imagine posting

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something on your Facebook Page and having a "fan" "share" it on their own personal profile. Now you are reaching new people (their friends), who may have never heard of you before, in a "word of mouth" kind of way, hence the social term "viral."

Your ability to collect vital information and consumer data from prospects via Facebook is truly unprecedented-- there's never been an easier time to collect e-mails, ask your consumer questions, and put your brand "in their hands" so to speak. The only way to stay competitive in the marketplace is to satisfy the palette of your customers by listening to their needs.

Example: Bow Company X posts a question on its Facebook page: "What would you like to see us change on our bows for 2014?" You are then able to take this information to improve your product and make your customers satisfied with your product and learn valuable consumer insight in a very efficient, cost-effective way.

4. BEST BANG FOR YOUR BUCK ALL YEAR LONG

Social media is one of the most inexpensive avenues to reach new and existing customers--from anywhere in the world, at any time of the year. In fact, it is the cheapest and, if implemented correctly, one of the most effective marketing methods. Suppose you decide to run a Facebook ad campaign to increase your fans, which costs you roughly $5,000 to get 5,000 friends (Most social media marketing companies are able to get you a cheaper rate.) That equates to approximately $1 per fan.

What other form of advertising could you spend just $1 to get a targeted customer who stays your "fan"-- someone you get to market to every day via your page content updates. The average direct mail piece costs at least a dollar when you include printing and postage. Then consider that a one-percent return on a direct mail piece is considered good. In order to get 5,000 customers, you would need to spend $500,000 at a 1-percent rate! That is around $100 per customer!

There's no other marketing resource in the universe that has the same power, versatility, and capability as social media. Think of the last time you were able to engage with a mass audience every single day of the year. As you engage your fan base daily, they become more aware of your products, services, and brand. And as they become more aware, they get more comfortable with your company and this increases your chance of earning their loyalty.

5. GO TO WHERE YOUR CUSTOMERS ARE HANGING OUT Consumers spend nearly an hour each day on Facebook alone. In fact, people spend more time on their Facebook phone app than any other mobile browser. Nielsen found that 60 percent of consumers researching products through multiple online sources learned about a specific brand or retailer through social networking sites: i.e., Facebook, Twitter, YouTube, and Instagram.

Consider Facebook the new "Main Street" at our fingertips. How does a brick-and-mortar store pull in eyeballs? It must look flashy, modern, and professional to compete f with surrounding competition. Your Facebook business page is no different. Don't be afraid to get a custom "face lift" and some "plastic surgery" through new designs, cover photos, custom applications, etc.

Learn how to use social media pages the "correct" way or find someone who does. This knowledge is crucial to your brand's success when using social networks. There are social media marketing companies that do this as

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part of their services package. You can also take the time to learn from online information or training classes. But, you must commit your time and effort.

Most companies can learn a lot about their customers by taking an open and honest look at what makes their relationship successful--and actually listen to their valued fans/followers. It's no secret customers have become sick and tired of being treated like second-class individuals. A real "relationship" that social media marketing provides can make all the difference. There's never been a more influential way for customers to ask questions, post brand opinions, and leave quality feedback for manufacturers. The opportunities right now are truly endless, and we haven't yet scratched the surface.

~~~~~~~~ By BRANDON WIKMAN and COLLIN COTTRELL

COLLIN COTTRELL & BRANDON WIKMAN Wikman & Cottrell, industry experts in online and digital media communications, are the cofounders of Maxima Media (http://maximamedia.co/). Maxima Media is a New Age marketing agency that streamlines communications to outdoors enthusiasts via Internet channels. Contact Maxima Media at 612-5-Maxima or [email protected].

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