How to Build an Effective Social Media Marketing Strategy for 2020
Social Media Marketing is a term that has been making rounds on the internet for years now. But is it the same as Social commerce? No, there is a difference. The latter refers to selling products from the social media platform. The checkout and billing are possible within the app.
Social Media Marketing is, driving traffic to a different landing site. That is, seeing an ad on Instagram and clicking on it leads to a different website. 2020 has been the year of the pandemic, and this is where everyone needs to be strategic and smart.
Social media marketing is the talk of the town right now. But how do you get it right? First things first. Set goals. A simple goal can be lead generation. For this, tracking metrics is a must. But not the number of likes, instead check the reach of a post.
The number of people who have seen it clicked on it matters. Hashtags are a common source for lead generation. The digital world is constantly evolving. There are new trends, new strategies. Let me break it all down for you via this article!
Here are a few social media marketing strategies to help you with lead generation and much more:
Stories are here to stay
I am sure you are a good narrator. But on social media, you can jazz up that skill to aid with lead generation. Instagram Stories are engaging and have inspired other social networking sites too. Instagram marketing has never been more popular. With Instagram business accounts, Instagram shops and analytics, it is attracting flocks of new businesses. Marketing on Instagram is much more different than any other social platform.
LinkedIn is coming up with Stories soon as well. Twitter is testing Twitter Fleets, the network’s story-sharing platform. Posts that will disappear after 24 hours. Now, why are stories gaining so much popularity? How is it an effective marketing strategy? Allow me to elaborate.
50% of businesses worldwide use Instagram stories. 500 million Instagram accounts use stories every day. The reason is, stories are blank canvases for your business. Creativity knows no bounds. Each story is 60 seconds long, and since nobody lately has the time nor patience, it works wonders. Woo, your viewers in under a minute.
No, Beyonce is definitely out of reach. Micro-influencers are all the rage currently. Micro-influencers refer to those that have anywhere between 50k to 100k followers. Their community is small yet full of people who engage. They have a tight-knit group of enthusiastic users. Reach out to a micro influencer and ask them to promote your page. It is a small price to pay for organic engagement. Brands can use influencers for several purposes. Ranging from Advertising, Sponsorships and being Ambassadors. 22% of marketers believe that influencer marketing is cost-effective. This is from a survey conducted by the digital marketing institute. Besides, it is also the fastest online customer acquisition method that is growing.
let’s imagine I have a company that sells watches. I have been posting images of new designs on Instagram. I then go on to make a personalized hashtag and add it in the bio #watchitbuyit. I will then, encourage customers to use this hashtag and tag my brand! Users also take part in fun giveaways and contests via hashtags. The images with these hashtags are then reposted on my account. Simple, cheap yet very effective. It gives the brand a new cape of authenticity. Your audience will only keep doubling with this trend. Keep an eye out for this effective marketing strategy for 2020!
Vis a vis Integrating voice technology. Millennials are the heaviest voice assistant users across according to eMarketer. Dominos, for example, has come up with “Pizza profiles” for its users. It will help them order via Google Home and Alexa. All it requires is for you to link your account via the google home app. Then say “Okay Google, talk to Dominos.” Their voice ordering system also has a name. Drum rolls please- Dom.
Personalization is important when it comes to adopting a voice search strategy. It can make customer interactions seamless. Time taken by the brand to respond can be cut short. Adopting a voice strategy will give you an edge in the business.
TikTok, the new social media network is doing exceedingly well. Simply put, video content is going to rule for the rest of the year. TikTok has 800 million active users across the globe, and the numbers continue to soar. Why though? It is best suited for B2C businesses.
The user-generated content that is fresh and interesting gain impetus. ImpactBND stats reveal that 72% of businesses use video content. And it has helped improve their conversion rate. It is a highly engaging way to market your brand on social media.
Live videos double their effect on marketing when combined with influencers. For example, PopSugar fitness has been streaming live workouts on its Instagram page. These live workouts feature celebrity fitness instructors that attract more and more users. 89% of video marketers generate good ROI according to Wyzowl.
ROI is the return on Investment. The formula for calculating it is straight forward. Earned Money- Total Investment( divided by Spent Money). Spent money here is the total investment. Tracking ROI is an effective way to understand if your marketing strategy is up to the mark.
Cater to your audience
eMarketer research shows 90% of social media users are millennials. With a close follow up of Gen X at 77.5 %. Baby Boomers, on the other hand, consist of 48.2% of the social media users.
Forbes states that 40% of Facebook users are above 65 years of age. TikTok is for Gen X users. Millennials are present across all the social media platforms. To effectively market your brand on social media, choose the right platform. Or spread your wings and try them all out.
Understated platforms such as Pinterest have become increasingly popular. Tailor content for the platform. Reposting can be quick and easy. But it is best advised against it when it comes to social media marketing. Curate unique posts for each platform.
It is the era of technology, there is no point denying it. AI and Chatbots have become increasingly popular among businesses. They are cost-effective, available 24*7 and are a real asset to your business. Alexa is an example of a chatbot. Have a conversation tree for the bot. A conversation can go anywhere. A conversation tree helps direct the flow of the conversation to a specific route.
A chatbot without one is like getting lost without a roadmap. Gary Vaynerchuk a social media entrepreneur, prefers using personalized messages. He believes it is a much more intimate way to check in with his customers. It depends on what suits your business. Design a bot to suit your brand and to interact with customers. Narrow down your FAQs, customize your chatbot and there you have it! Your bot!
Engage and Interact
Turns out that the third Thursday of every quarter is Get to know your customer day. 91 % of consumers are likely to shop with brands that recognize, remember. And provide relevant recommendations. This is according to a survey by Accenture. Not only this, create different communities or group chats with your enthusiastic audience. Get to know them! Encourage people to share their stories. A survey by Sproutsocial states that 90% of people surveyed prefer direct communication. More so, with the brand across social networks. Social Media has become popular to also offer customer service. Brands have recognized the need to answer queries and resolve complaints. Virgin Atlantic for example, promptly responds to consumer queries.
Do not limit yourself to one platform. Every platform is unique, with a new audience. Find what suits you best. Maintain your online presence. Consistency is essential, post regularly. Make small talk with your followers as well. Social media marketing is all set to soar in 2020. Especially as businesses are turning to social networks because of the pandemic. This time of crisis can also pave way for you to strategize. Set business goals. Envision where you want your business to be in a few years. With the above effective marketing strategy tips, you are half way there!
But don’t let the competition sway you. Instead, assess what is working for the competitors’ brand. Lastly, be authentic. Yes, I know content is king but it is the authenticity that will get you the throne.