Digital Marketing
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BenefitsofSMM1.pptxBenefits of
SOCIAL MEDIA MARKETING
You may want to use this slide presentation over two days, with the social media slides (up to slide number 15) presented the first day, and the second half of the slide deck presented the second day.
Where does Social Media fit in the Marketing Mix?
Results from the February 2018 CMO Survey indicate that companies currently spend 12% of their marketing budgets on social media. This is up from 3.5% in 2009 when this question was first asked. This increase is expected to accelerate with social media spending predicted to reach 20.5% of marketing budgets in the next five years!
https://www.youtube.com/watch?v=sOfHtANrmbI
Create a holistic strategy focused on all three media types.
Owned Media: the channels a company owns (Company website, blog, YouTube channel, social media accounts)
Earned Media: the content and conversations around a brand that have been created and published by someone else (Press coverage, social media mentions, product/company reviews, blog posts)
The most valuable type of media, as it increases brand awareness with additional effort on the part of the marketer
Paid Media: marketing activity that is paid for (TV advertising, radio spots, print advertising, Google Adwords, Pay Per Click [PPC] campaigns, search and display advertising, social media advertising)
Earned Media
Blogger decides to review your product or service.
Social Media followers share an influencer or brand’s post.
Press mentions
Organic searches results in higher rankings on Google, Bing and Yahoo!
Continuous Engagement = Consistent Message dissemination
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BENEFITS OF SOCIAL MEDIA MARKETING
• Brand awareness
Increased Exposure / Brand Awareness
Social media allows message sharing to a wide audience, making brands more accessible for new customers and more recognizable for existing customers The cell phone case industry is extremely competitive. Pretty much anyone can buy cases in bulk from Alibaba and resell them for a markup. So when a company is able to stand out and establish a brand, you can’t help but take notice.
Peel sells thin phone cases, with the major selling point being they’re both functional and stylish. So naturally, social media is a great avenue to showcase their products.
They use Facebook video ads to help tell the story of what separates their products from everyone else.
BENEFITS OF SOCIAL MEDIA MARKETING
• Increased traffic
Improved Conversions!
Increased Traffic
Every like, comment, share or reaction may lead to a click and eventually a conversion
78% of businesses said social media has increased website traffic
Without social media, your inbound traffic is limited to people already familiar with your brand and individuals searching for keywords you currently rank for. Every social media profile you add is another path leading back to your site, and every piece of content you syndicate on those profiles is another opportunity for a new visitor. The more quality content you syndicate on social media, the more inbound traffic you’ll generate, and more traffic means more leads and more conversions.
According to data from Shareaholic, social media drives 31% of website traffic. Considering the amount of content that passes through sites like Twitter and Facebook, that shouldn’t come as much of a surprise.
BENEFITS OF SOCIAL MEDIA MARKETING
• Brand loyalty
Brand Loyalty
69% of marketers report social media has helped develop loyal fans
53% of Americans who follow brands on social are more loyal to those brands (Among 16-24-year-olds, that number jumps to 66%)
What would you give to have an audience of over 8 million Facebook fans, 3 million Twitter followers, 2 million Instagram followers and customers all around the world? Brands dream of building a massive following, but few ever succeed.
So when a company is able to build brand loyalty and a community of raving fans who engage on social media, show up to live events and recommend products, it’s pretty impressive. One brand that has done this all extremely well, is Razer.
Razer sells hardware for gamers. Whether it’s a controller, keyboards or even a phone, Razer has become the go-to source for gamers looking for new gear.
But their success didn’t happen overnight.
It took over a decade for Razer to establish brand loyalty and build a community of people that not only are willing to buy their products, but become bonafide “fanboys” for the company.
Ok, so let’s talk about Razer’s brand loyalty. They have customers around the globe, and brand enthusiasts that engage on Facebook, Twitter, Instagram, Twitch and their Razer Insiders forum.
Not to mention their in-person events draw huge crowds.
One of the key elements of earning brand loyalists is a shared belief. Razer’s community loves Razer products, but they’re even more attached to gaming. By branding itself as the company for gamers by gamers, there’s an instant connection to their target audience. They feel that Razer “gets them.” Razer makes it crystal clear who their products are for. They’re not marketing to college students looking for a school laptop or people that just want a computer to browse Facebook. They make products for gamers, period.
Social media plays a huge role in brand loyalty for Razer. You always hear horror stories of shrinking organic engagement on social media.
While it’s true that social networks have made it more difficult for brands to get content seen organically, Razer is proof that you don’t always have to rely on social media ads for engagement.
BENEFITS OF SOCIAL MEDIA MARKETING
• Marketplace insight
Marketplace Insight
Many brands use social media to learn about their customers and to gain insights into the market
Social media also allows brands to keep up with and stay ahead of your competition and gain direct feedback by monitoring comments and customer sentiment about your brand
What prodded Disney to think about a streaming service? Is Starbucks’ pumpkin spiced latte facing new competition in maple pecan? How did Kraft know to drop preservatives in its classic mac-n-cheese and Pepsi to do away with aspartame? They knew because they listened to consumer conversations on social and picked up on cues, then made the necessary changes to their product strategy. It’s the same reason why General Mills brought back artificial flavors to its best-selling cereal, Trix.
BENEFITS OF SOCIAL MEDIA MARKETING
• Lead generation
Attract
Convince
Convert
https://www.youtube.com/watch?v=y1gft2d2_e8
Lead Generation
Leads are potential customers who have expressed interest in a product or company
Spending as little as six hours a week, 69% of marketers see lead generation benefits with social media
When most marketers think of social media they immediately associate it with brand building, and not sales. After all, no one really buys products because of a Tweet, right?
Wrong.
The truth is that social media is much more than just a way to grow your brand and connect with your current customers. When done correctly, you can actually use sites like Facebook, Twitter, LinkedIn and Instagram to generate real leads for your business. And the cherry on top is that social media lead generation is cost effective, and produces results:
Social media marketing has reduced costs for 45% of businesses.
Revenue increased for 24% of businesses when they utilized social media for lead generation.
Social media makes the process even easier because of all of the information that people readily share, and also because of the sheer number of users on sites like Facebook and Twitter. We’re living in a time when 40% of people spend more time socializing on social media than face to face. So needless to say, social media makes for the perfect place to find your target audience and turn them into new sales leads.
A lead generation campaign can be segmented into three parts, one leading to the other:
Attract
Convince
Convert
To get leads, you first need to attract people to your website (or even better, to one of your landing pages). Once they are there, you need to convince them you have something they need to solve a problem or meet a need. This conversion is what generates leads.
BENEFITS OF SOCIAL MEDIA MARKETING
• Increased thought leadership
Increased Thought Leadership
Thought leadership allows brands to establish credibility as an expert in their fields
In order to get noticed by target audiences, brands must position themselves as industry thought leaders, providing customers with current information about the newest trends in their industries
These days CEOs being engaged on social media is part of the storytelling strategy for many companies. 80% of CEOs from the 50 largest companies around the globe now engage on social media, up from only 36% in 2010.
Other famous brand leaders on social media?
Elon Musk
Richard Branson
CEO videos are great for branding
Social video lets CEOs stand out as thought leaders
There’s a lot of opportunity for creativity
https://www.wochit.com/blog/3-reasons-to-make-ceo-videos-for-social/
BENEFITS OF SOCIAL MEDIA MARKETING
• Improved sales
· Reaching out to new potential customers · Finding out how customers perceive the brand · Find out how the brand is positioned among existing customers
Improved Sales
Although overt product pitches is not best strategy on social media, more than half of marketers say it has helped improve sales
BENEFITS OF SOCIAL MEDIA MARKETING
• Time savings
Time savings
Responding to customers online saves time compared to phone or in-person conversations with multiple customers with the same inquiry
BENEFITS OF SOCIAL MEDIA MARKETING
Reduced marketing costs
Online Ads
Customer Service
Recruiting
Keeping Connected
Utilize Ratings
Reduced Marketing Costs
The marketing costs for SSM are lower in comparison to that of traditional print advertising
BENEFITS OF SOCIAL MEDIA MARKETING
• Stronger customer experiences
https://www.youtube.com/watch?v=pqHWAE8GDEk
Stronger Customer Experiences
Social media allows direct, real-time interaction with customers
Every public interaction on social media allows for enhanced customer relationships
Ah yes, Eleven’s favorite snack makes more appearances than ever in Season 2. And the marketing team over at Kellogg’s—to their credit—took advantage of the free plug, by creating a fresh, buttery new campaign called “Eggos” to capitalize on all the delicious publicity. Kellogg’s began talks with Netflix before the airing of the second season. The result of the partnership was a small series of advertisements which appeared during the premier of Stranger Things 2. Best of all, Kellogg’s social team was ready to capitalize on the hype. Armed with humorous GIFs, the #StrangerThings hashtag, and more images of Eleven scarfing down the iconic 80’s waffle than they knew what to do with, the social team managed to come up with some weapon’s grade tweeting that earned them thousands of new online followers.
Ah yes, Eleven’s favorite snack makes more appearances than ever in Season 2. And the marketing team over at Kellogg’s—to their credit—took advantage of the free plug, by creating a fresh, buttery new campaign called “Eggos” to capitalize on all the delicious publicity. Kellogg’s began talks with Netflix before the airing of the second season. The result of the partnership was a small series of advertisements which appeared during the premier of Stranger Things 2. Best of all, Kellogg’s social team was ready to capitalize on the hype. Armed with humorous GIFs, the #StrangerThings hashtag, and more images of Eleven scarfing down the iconic 80’s waffle than they knew what to do with, the social team managed to come up with some weapon’s grade tweeting that earned them thousands of new online followers.
https :// www.youtube.com/watch?v=ObC0lcC-hLA
This one requires no explanation! The Ice Bucket Challenge is considered one of the most successful social media campaigns of all-time after using a simple (but unpleasant and hilarious) challenge to raise over $115 million dollars for a disease that most people had never even heard of.
The virality was propelled as people publicly challenged their friends and family to participate on social media. This social pressure made them more likely to get involved (or donate) than someone simply asking for a like or share.
Ice Bucket Donations Continue to Rise: $94.3 Million Since July 29. Washington, D.C. (August 27, 2014) — As of Wednesday, August 27, The ALS Association has received $94.3 million in donations compared to $2.7 million during the same time period last year (July 29 to August 27).
