Social Media –
If we get to the bottom to know the reason why Social Media has grown by leaps and bounds in spite of warnings from psychologist about addiction, change in behaviour pattern is because Social Media feeds emotional value to our feelings and opinions.
For instance – If we like a particular song and share your feelings with your friend, and your friends also happens to like the song, you feel elated. Because, your opinion has received an endorsement. Your liking has been reinforced. Social Media gives you the platform to share your thoughts and opinion with LIKE MINDED PEOPLE. I like to highlight the word LIKE MINDED. Only with like minded people you will get an endorsement. The best way to evaluate this concept is connecting with people who support two different political parties like Democrats and Republicans. Within a weeks time you will be able to realize as if these supporters belong to two different planets. It is almost impossible for a supporter of one political party to be engaging with supporters of opposite parties on the social media platform. Every opinion of theirs would be thrashed by the opposite group. Moreover thrashers go overboard in abusing as they don’t feel threatened to go overboard on social media as they are physically secured on this platform.
Social Media algorithms are designed to cater to ensure that you get endorsement to your feelings and opinions. Endorsement from far and wide geographies. Justifyingly, people love to be there. Over and above these algorithms ensure that most often the feed is related your interest.
Bottom line is that Social Media caters to your emotional. Like to reiterate what Scott Peck said in his book “The Road Less Travelled”. People do things for two reasons. 1. Sex. 2. Importance. The important need that is ‘importance’ is taken care by the social media.
Going forward, we can expect to get more and more eyeballs on social media platforms. Lets
Social Media Marketing –
Pre Amble – Important difference between social media marketing and Google search Marketing is that in Search Engines you will be to attract customers who are at the bottom of the Sales funnel. You are targeting more active customers on search Engines. You are promoting your products/services to users who are seeking or searching your kind of product/services.
But still there is an interesting reason why still Social Media marketing can be really effective.
One of my client who was into manufacturing of Proximity devices. A proximity device
- can be used for providing access into offices,
- can be used to track cabins usage and
- can be used for many other reasons.
Potentially proximity devices can replace Biometric devices, Attendance systems and other office automation systems. But the company will be failing if they implement search engine marketing. People are not aware of these products so that they can search on Search engines. Only passive marketing was the right choice for my client. More importantly Social Media marketing, especially platforms like Facebook and LinkedIn has more to offer. You can laser target audience.
Another client of mine was ecstatic when I showed how they can laser target potential customers. This client was one of the popular baking companies interested in promoting Pastries and Custom made Birthday cakes. In Facebook you can promote Birthday cakes to people whose birthday falls in next week or so. Wherein most of the people to whom your ad is being shown are potential customers. It doesn’t just stop there. You can target parents of kids or friends of people whose birthday is falling in next few weeks or so. These kind of targeting is unheard in Conventional marketing. One more reason for my client to feel ecstatic was the cost of campaigns. I can reach half a million potential customers for just about 300$.
Likewise, we can laser target our audience based on
- Events like Anniversaries and etc..
- Geography( you can limit your campaign reach within a kilometre from your business)
- Demography like Age, Gender and Sex
- Behaviours (Online behaviour) and etc….
Even though only passive campaigns are possible on Social Media, laser targeted audience make social media partially active.
The best thing about digital marketing is provision to remarket. You can retarget users with different set of contents to drive them further down on sales funnel based on user activity like likes, shares, retweet and etc..
Steps for implementing Social Media Marketing –
Market Analysis =
- Define Campaign Objective
- Analyse potential reach and possible outcomes
- Know your budget
Build Sales funnel –
- Build a clearly defined sales funnel –
Sales funnel should clearly define Objective of each stage
A typical sale funnel looks like
- Once the sales funnel is ready,
- Create ads/content suitable to each stage which helps the potential customer to move down the sales funnel.
- Identify inertias that are associated with each stage. Ensure that your ads/content breaks those inertia
- Identify best social media platform that helps to meet your objective
- Start the campaign with minimum budget, if necessary do Split A/B testing.
- Monitor results.
- With tools like Google analytics and Facebook insights, analyse potential issues with campaigns or sales funnel design.
- Take corrective actions.
- Win Leads, Win Customers.
Only through many iterations on social media marketing, amateurs can get it right, hence the provision of split A/B testing.
If you are beginner, you may find it too complex. Let me tell you it is not as difficult as it may seem at the outset.
Before going all out, just pause the campaign. Please revisit the sales funnel. Explore whether the objective can be achieved in any other way. Would suggest getting ready a campaign and then pausing it. It is important that you understand the complete flow before explore new ways and methods.
Example – In case you are into realty business selling flats and villas. In real estate, The turnaround time from being a prospect to a customer ranges anywhere between 30 days to 90 days. Nobody is going to carry money in their pocket to make an immediate purchase. Before they make the purchase, they will explore many options, consult family and friends and the finally make the purchase. Sales is all about coincidence. Being their in the mind space of the potential customer at the time of purchase.
At the outset, you may feel that active marketing works best for a real estate business. Tapping customers who are actively searching for properties on the search engine. But not necessarily they are the best option. Even though they are active customers, the turnaround time involved makes these users significantly passive at the time of promotion. By the time they make the purchase they would have bombarded with 100s of other options.
As we are focussing on social media marketing now, what could be the option that may be available for a real estate business.
When you start a facebook campaign, facebook ads manager will prompt you to define the objective. You have many options to choose from like
- Reach – wherein the objective is to reach as many people as possible.
- Leads – Wherein the objective is to get as many leads as possible
- Engage – like getting as many likes or share for your page and many more such options are available.
For a real estate business, I will go with Engagement objective for getting as many page likes as possible. The reason is because it is very cost effective. The cost to generate leads is going to be at least 20 to 30 times costlier. When people like your page automatically they are following your page. As and when you have a new post on the page, the post is in the news feed of people following the page. It is very easy to convert your followers into leads. Posting any number of posts is going to cost you nothing. With every post you are in the newsfeed of your page follower. Hence there is a good chance a good percentage of your followers are going to be your leads and importantly, every like of your post will get you more engagement from friends circle of your followers.
You are in the mind space of your prospect till the purchase is competed.
Never in the past marketing campaigns has been so effective and efficient.
7 Key things to consider before pursuing Digital Marketing –
Few months ago I shared my campaign details which I had done for a training program with my friend. He was astonished to see that I was able to create 75000+ impressions over Google Display Network(GDN) within couple of hours and get 100s of clicks in flat 1 hour. So far, my friend was just leveraging on leads from local yellow pages. Being over excited about the scope of digital marketing, he over leveraged the investment on Digital marketing. He was over confident about the return on investment on Digital platform. Unlike in offline marketing, you have forecast available on GSN & GDN. This data was a reinforcement for his over confidence.
Unfortunately his GDN & GSN campaign didn’t bear fruit as expected. The failure was not because of Digital platform not being a right platform, rather the way you leverage the scope of digital marketing matters a lot. The major fault with GSN campaign was with keyword intent. If you don’t capture the intention with a certain search query, majority of the leads so generated would be invalid. While in yellow pages, the leads you generate are at the bottom of the funnel. Unfortunate coincidence was that the second experiment with GDN was also a disaster because while campaigning on GDN/facebook, remarketing strategies are important as the impressions so created are for the audience who are at top most stage of the funnel. The major fault with GDN campaign was that there was no proper follow up strategy in place before starting the GDN campaign.
Even though GDN, GSN, Facebook, Twitter, Instagram and etc., are great platforms to drive quality leads, there are certain guidelines that has to be followed.
- Digital marketing offers platform for both Active and Passive marketing. Have clear objective about your approach. If you want to tap existing market, Explore Google search Network. If you are wanting to create market for your product or service, explore either Google display network or Facebook.
- Spread your budget over a long duration till you get your campaigns right
- Keyword intent and match type are the important considerations. Quality of leads are totally dependent on that.
- Location settings are critical and mostly done the wrong way. Ensure that location targeting is set to target people who are interested in certain location rather than people who are living in certain location. Again it depends business to business. In most service based business interest in targeting audience interested in certain location works rather than targeting people living in certain location.
- Irrespective of the wisdom we carry, there are no alternatives for learning through experiments. Always split test your campaigns to know what works best.
- Landing pages has to be clutter free with as little links as possible, else website traffic will not get converted into leads.
- Meta description has to have
clearly defined takeaways
Takeaway are defined in figures