Resources
Social Media 102
Take a look below at our thinking here at agency:2 about the power of social media and how to tap it. On offer? Some advice, stats and insights for you to use.
You’ll take away some ideas to reinforce why adding us to your repertoire can make your marketing efforts – and ROI – exponentially stronger. We call it authentic engagement to the power of two: agency:2.
While you’re here, dig down into the social media best practices we live and work by.
Our measuring social media article in Contagious Magazine. GET IT
Advice for brand owners before running a social media marketing campaign
Say “social media” and you’ll really get people talking. Whether it’s Twitter, social networking on blogs or the latest viral advertising video, there seems no lack of opinion on social media trends, pitfalls or buried treasure. Let’s cut through some of the chatter.
The problem for a marketer, or a digital agency looking to learn more about social media strategies, is that there are so many people out there who now claim to be expert in social media that it’s difficult to know really who is qualified and who is “bluffing.” Social media is more than a bolt-on for a PR agency and it is more than just another medium for a digital agency. It takes time to learn how to harness social media for real client benefit.
What should you look out for before setting out on a social media campaign? We’d say it’s more a strategy of what to look into:
1. Do your homework: Research which area of social media you think your client would like their brand to feature, more than likely based on where you’ve noticed their target demographic being vocal.
2. Manage your clients’ risk: A brand can risk losing credibility if mistakes are made in terms of social media choices. Understanding the legal and ethical framework of social media marketing alongside experience will avert a campaign backfiring or proving to be a wasted investment.
3. Manage your own risk: You could say we would naturally say this, but if you outsource directly to a social media specialist agency then you are going for a low-risk option. For example, we at agency:2 have been in business since 2007 and have a number of tried-and-tested methods of implementing our clients’ strategies. These are borne out of experience and we are able to demonstrate through real case studies and testimonials how our clients have benefited from working with us. Any other specialist should have the same kind of confidence in their past working knowledge of how social media works.
4. Measure twice, cut once: Because we’ve had time to test our methods, we have also had time to build up a number of tools, tactics and processes to track our social media effectiveness. We know what works when, and we’re in the business to demonstrate this level of experience and prove ROI.
5. Don’t believe the hype: Social media is not as new and untested as it may at times appear. It has been around for a while and, as such, it is possible to enter into a social media campaign with confidence in it as a viable alternative or complement to traditional digital marketing methods. Your specialist agency should be able to show you how social media can work in tandem with other digital initiatives and give you guidance, for example, on how CTR’s (click-through rates) compare: social media vs. banners or social media vs. email marketing are two valuable metrics. This information is critical for budget and ROI marketing planning.
With the exponential take-up of social media, many platforms can provide what seem limitless opportunities to develop your product offerings, grow relationships and ultimately boost sales. Partner with a dedicated social media agency and your chances for success take off.
Social media marketing shows higher CTR than other digital strategies
Much has been made about social media, in particular the story of its inexorable rise and pervasiveness in today’s digital media environment. We need more practical – and usable – commentary about the trackability and proven effectiveness of social media, especially in the context of a direct comparison with other digital marketing methods such as email marketing and banner advertising.
Our focus here will be on click-through rates for each channel, how they measure up in the crowded digital media landscape, and how they prove social media can engage with consumers. Opportunities abound now for brands to talk directly to their consumer audiences and learn from them about their own brand perceptions. Marketers can, in real time, respond to customers and prospects through the thousands of social media channels open to them.
Consumers are undoubtedly looking for more personalised communications with their favourite brands and are increasingly dismissive of unsolicited messages. The emergent social media platforms provide an ideal way to do customize and control the conversation with consumers.
In addition, for the past few years, digital marketers have been on a steep learning curve. Not only have they had to learn the basic functionality of these new digital channels but there is now more pressure than ever to demonstrate that digital marketing strategies are providing a measurable ROI. A tough economy and increasing consumer scepticism about marketing tactics provide the perfect environment in which social media can thrive.
But how do marketers justify social media spend without knowledge of how to measure their investment? As social media matures, agencies like agency:2 that have been involved since the beginning of the industry are now able to offer research and case study proof of higher interaction with brands by using an industry standard click-through rate (CTR) metric versus other digital channels.
Sources used: Eyeblaster/eMarketer/MarketingVox/agency:2
Statistics show that social media (CTR 7%) is twice as effective as email (CTR 3.9%) and 35 times more effective than banners (CTR 0.2%). But why are click-through rates so much higher for social media?
1. Brands can find customers when they are actively looking for support, advice and solutions.
- Social Media Marketing talks to users in a digital environment where they are already searching for and purchasing products. Communications are therefore, by default, highly relevant and timely.
- Trends show an increase in the use of forums to get advice from other like-minded users prior to purchasing products.
2. Brands can interact with their target audience
- Users spend quality time interacting within social networks and forums; this offers brands a unique opportunity to spend precious time with a captive audience.
- Social media marketing is less intrusive and allows for conversation with potential clients about products or services of interest.
- It is also more targeted as you often find that posts are written on specific forums of interest to a brand’s target group.
3. We are social beings and we like sharing ideas
- Social proofing – recommendations from trusted friends or like-minded people – leads to higher interaction.
- Social proofing works as proven by the incredible success of Twitter and the general rise in blogging in recent years.
Although banner advertising and email marketing have seen a decline in average CTR over the last few years, click rates for social media are climbing because they are based on real, authentic content with a more inviting, conversational and subtle tone.
We will need to find more and more sophisticated ways of measuring social media’s impact on sales. This will be critical but we’re confident at agency:2 that, as long as social media marketing offers real value to the target audience, we will continue to see click rates climb ever higher than traditional digital marketing channels.
-Joel Davis, agency:2 CEO, June 2008
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