How social media impacts business’ marketing strategy

In the past 10 years Social Media has made a huge impact on businesses marketing and communications strategy. Social media is now a key part of every marketing mix and has taken quite a share of more established digital media budgets such as PPC and Display but also from more traditional media such as TV, Radio and OOH (Out of Home).

Social media is so accessible to businesses and doesn’t necessarily require larger barriers to entry, such as TV’s creative production budgets, social media channels are often used without much thought around targeting, budget allocation, creative messaging and frequency.

Just because Facebook has a lot of data to target users doesn’t necessarily mean every campaign should overlay as much data as possible, this will only reduce the pool of audience you are trying to reach and unless you overlay third party tracking (like Nielsen’s on target audience verification) you cannot verify if the user criteria. Overlaying more data for targeting will also inflate the CPM (cost per thousand impressions) so be sure the target audience data that is being used for targeting is adding value to your overall campaign objective and KPI.

Tracking and measurement is vital to any social media campaign and if you’re a marketer with traditional offline experience it can be very overwhelming experiencing the breadth of metrics available in any social media report. Not all of them are necessary to review for every campaign so firstly I’d recommend in terms of assessing performance ensure you are reviewing the metrics that assess the campaign success; for example with a video asset start by comparing:

  • Planned spend vs delivered
  • Cost per 10 second view delivered vs planned
  • Video completes at 25%, 50%, 75% and 100%

There is no ‘one size fits all’ answer when it comes to developing a successful social media strategy for your brand and a new approach should taken to all social platforms as adapting to the user behaviour they hold is essential; Facebook, Twitter, YouTube, Instagram, Snapchat, LinkedIn, Pinterst and many more.
These platforms are evolving at a fast pace and therefore it’s useful to keep up to date with the digital marketing news across the globe or have social experts who are informing you of what you need to know either internally or via and agency.

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