Social media is a journey, not a destination
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Transcript of Social media is a journey, not a destination
Social Media MarketingA Journey, Not A Destination
But 92% of Americans ignore at least one type of ad
• Online - 82% Television - 37% Radio
- 36% Newspaper - 35% • The online ads Americans are most
likely to ignore included: online banner ads (73%), followed by social media ads (62%), and search engine ads (59%).
• The highest wage earners, those with a household income of $100k+ per year, were statistically more likely than those households making less than $50k per year (86% vs. 78%, respectively) to say they ignore online ads.
Source: Harris Interac0ve on behalf of Goo Technologies in January 2014
And a lot of people are using social media
But social media successis not easy
And there are so many choices
Social media does play a smallrole in the purchase path
And there is a disconnect between marketers and consumers
• Enthusiasm for social media appears to be a greater driver for investments and
usage plans than proven results. • There is a significant disconnect between marketers’ eagerness and consumers’
attitudes to being marketed to via social media. Consumers still largely opt out when it comes to social media marketing, preferring to follow peer recommendations of brands and products rather than clicking on advertisements.
• The implication is that message delivery by brands via social media is not
reciprocated by consumers, and that social media therefore is not fulfilling its potential as a two-way, conversational channel
• This suggests brands need to put their enthusiasm for social media aside and focus on understanding their customers’ individual needs and preferences, establishing effective measurement and investigating the make-up of their social media marketing mix. In particular, it will be critical to success to get the balance between pure-play advertising and content-driven, conversational tactics right.
Source: Pitney Bowes White Paper Social media: contras0ng the marke0ng and consumer perspec0ves Brands and consumers disconnect over social media marke0ng
Even Forrester is questioningthe real value of social media
• Forrester analyst Nate Elliot, only 55 percent of Twitter marketers say they’re “satisfied with the business value they achieve” from the platform.
• That’s low compared to other established
online marketing channels like search, email, mobile, and online display.
• Forrester is sounding the warning bell that
underneath all the rosy signs of a thriving ad business, Facebook faces a welter of marketer dissatisfaction that will inevitably diminish the importance of the lifeblood of the social platform.
• According to Elliott’s research, only 51
percent of marketers are satisfied with how Facebook helps them connect.
And the social media hypeis being dismantled
• 1 billion people have tried Twitter and three quarters of them abandoned it. – Twitter has seen more than one billion registrations to its
service over the past seven and a half years. Stack up that figure against the most recent active user number — 241 million — and you’ve got a retention rate somewhere in the mid-20 percent range.
• Phony Facebook likes have become all too common even among pages seeking legitimate followers. – Facebook is complicit in allowing bogus accounts to run up
like totals because they act as a buffer between pages and their actual fans.
• Facebook recently admitted in a regulatory filing that as much as 11.2% of its accounts are fake, but did not publish any numbers about how many likes may be fraudulent.
• Princeton forecast says Facebook will lose 80% of its peak user base within the next three years.
Facebook is even beingchallenged & questioned
• 1%. Or, to be precise, 1.4%. That's the percentage of fans and friends of fans of the top 200 brand pages on Facebook who are actually engaging with those pages, according to the Ehrenberg-Bass Institute.
• Retailers have invested heavily in making money off
social networks like Facebook and Twitter.
• But despite all the interest, it doesn’t look like social networks do much to drive sales, according to a recent report Sucharita Mulpuru at Forrester Research.
• Less than 1 percent of the online transactions she
tracked could be traced to a social media post, Mulpuru wrote in her report.
• Paid search traffic is the most effective way for retailers
to engage new customers, while email marketing captivates returning customers, Mulpuru wrote.
But social media continues to be important for Moms
And it’s not just for Millennials
But there are still a lot ofpeople who “don’t get it”
• Social media is dictated entirely by consumers, not brands. Trends,
discussions, and points of interest are going to be generated by news, current events and pop culture, not brand business goals.
• Every marketer is trying to maximize earned media, but with the exception of a
few brilliantly conceived lines by a handful of companies, the majority of the hashtag encouragement is a waste of time (and for anyone promoting trends, a waste of money).
• The brands that really achieve earned media at scale are the ones who
relevantly insert themselves into ongoing conversations in a fun or witty way. • Consumers' attention spans are shortening by the second; most news is only
relevant for a day or two, if not less.
They buy into the social media myths
• Most consumers want to have relationships with your brand. – Only 23% of the consumers in a study said they have a relationship with a brand. In the
typical consumer’s view of the world, relationships are reserved for friends, family and colleagues.
• Interactions build relationships.
– No, they don’t. Shared values build relationships. A shared value is a belief that both the brand and consumer have about a brand’s higher purpose or broad philosophy.
• The more interaction the better.
– Wrong. There’s no correlation between interactions with a customer and the likelihood that he or she will be “sticky” (go through with an intended purchase, purchase again, and recommend). Yet, most marketers behave as if there is a continuous linear relationship between the number of interactions and share of wallet.
Source:HBR.org · by Karen Freeman, Patrick Spenner and Anna Bird
While there is risk marketersare measuring the wrong metrics
And believe engagement increases reach
Engaging in the conversation" does not increase your reach in social media.
blog.hubspot.com ·∙ by Dan Zarrella ·∙ August 16, 2011
While consumers trust eachother more than marketers messages
Some recommend jabbing withconsumers but I believe they’re
smarter than that • Instead of going for an
immediate sale the first time a prospect gets to hear about your brand, you should first build the relationship by providing high-quality micro-content with no strings attached.
• If you've engaged them intelligently, they will then respond to your offer.
So then do brands really need social media?
But first
The reality for thesocial media journey
• QUIT trying to DO social media.
– Quit worrying about being first to tweet a post, first to wake up in the morning and post a cat photo to Facebook. Instead get in your office, roll up your sleeves and do the hard work that needs done.
• It is YOUR responsibility to educate your stakeholders on the fact this is a
journey, not a destination. – You must help educate them, change their mindset over time and let them know there is no quick fix
Band-Aid called social media that is going to save the broken parts of the business. • It’s not about completing the task list of randomness that makes you feel good
each day. – It’s about making forward progress on your journey to become a social business. It’s about raising your
own bar above the status quo. It’s about making the shots you were previously afraid to even try for. • It’s about aligning social to your audience needs and business goals, period.
– It’s not rocket science, but it takes time and it takes investment in process, not just Vine videos, Instagram and pretty Facebook images of cats and quotes for posting.
Source: http://www.pammarketingnut.com/2014/02/social-media-business-results-agency/
And clearly define your objectives
Along with success metrics
And don’t forget to generatebuy-in from organizational influencers
Because your brand needsto be on social media
Consumers expect you to be on social media if they want answers on your product/brand.
But before you start get toreally know your customers
Is your brand/product worthyof a social media relationship?
Look in your pantry..
How many of those brands do consumers have time to have a social media relationship with ?
And what are the primary drivers of action?
Even couples are using social media
• The internet, cell phones, and social media have become key actors in the life of many American couples— the 66% of adults who are married or in committed relationships.
• Married and partnered adults are just as likely as those not in a relationship to say they have sent sexts; single adults are more likely to report receiving and forwarding such images or videos.
Source:Pew Internet
And marketers forget that BLOG’s are social media too
Blogs’ influence and trust level drive purchase intent
Key questions to ask beforeinvesting resources into social media
1. How important is our brand/product in consumers everyday life ? 2. Is our brand/product worthy of a social media relationship? 3. Are consumers going to research our product via the Internet and social
media or is the decision to purchase made in-store? 4. Have I convinced the organization that social media marketing is a journey
and will not lead to overnight success? 5. Do we have someone who can collaborate, listen and respond without
sounding like a sales person? 6. What’s really important to our prospects & customers? 7. Have we done a really good job with our branded website? 8. Have we done our research on how to add value to our customers?
In the end it’s about
And
About Me
I am a marke(ng contrarian in that I always try and challenge people to do their best when it comes to digital marke(ng because the power has shi8ed from marketers to consumers. I currently own a consul(ng business and live in Sudbury, Mass. Mt clients have included Amazon.com, Microso8, Paramount Pictures, Nature Made, Amgen, and Amgen. I love the challenge of digital marke(ng and would like to hear from you as well. You can reach me here.
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