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- 1. Advertising Through Social Media and its Measurement Presented By: Group 3 Kelly Corsi, Claire Fitzpatrick, Jason Kahle, Pavin Thomas, Kaustubh Vibhute, and Katelyn Watt SOCIAL MEDIA
- 2. 2 Overview Part 1: Intro Part 2: Popular Platforms where Advertisements are used and effective today Part 3: How to measure and be successful using social media
- 3. 3 Part 1 Intro to Advertising Using Social Media • Advertising falls under Interactive marketing, which is an essential part of IMC. Social media leverages the internet to amplify interactive marketing to the highest levels possible. • Facebook, Twitter, Pinterest, YouTube, Snapchat, Instagram and many other leading social media platforms were conceived with one end goal in mind - Advertising! • Although it may feel like connecting people, building networks based on likes and preferences, exchanging multimedia content like audio and video was the primary goal of these networks. Nothing pulls in the money like advertising does. • Establishing a large social network, generating user population, hosting user generated content is the common route teenagers in garages, housewives with time to spare and every individual who can write code and spin an app seem to take these days, in the hopes of becoming the next millionaires. • The recipe to monetizing social media is thus simple - crowdsource content, generate user, amass large amounts of very specific data and enable marketers to serve highly targeted advertisements.
- 4. 4 Part 1 Pros and Cons of Social Media Advertising Pros: Demographic information Engagement with a global target audience possible Message dissemination via existing users, lower costs. Opportunity for a direct, personal contact with user Inexpensive, customizable, real-time Consumer feels greater sense of control over what they see. Cons: × Negative publicity can spread much faster × Not enough control on the spread of advertisements, unlike traditional channels. × May not be very good for conversion/sales in every case (much better for brand awareness) × Can be time consuming, and due to faster spread, advertisements may need to be refreshed sooner than later in the case of traditional advertising. × Can be hard to track, clutter × May not work in regions lacking internet penetration
- 5. 5 Part 1 The Growing Trends of Social Media Advertising Social media advertising was born less than a decade ago, but is projected to generate $11 billion in revenue by 2017. This is up from just $6.1 billion in 2013. Click here for #Socialnomics Video Mobile advertising was on course to comprise 68% of Facebook’s revenue and 84% of Twitter’s in 2014, and two-thirds of social media advertising is spent and forecasted to go towards mobile ads in 2018, creating a $9.1 billion market on mobile devices. The CMO Study reports that “40% of companies use customer information collected online for targeting purposes and 88.5% of CMO’s expect this practice to increase over time.” On Facebook, desktop ads have 8.1 times higher click-through rates and mobile ads have 9.1 times higher click-through rates than normal web ads. Meanwhile, promoted tweets have shown an average engagement rates of 1-3 percent which is much higher than traditional banner ads. Over 66% of Americans are involved in one or more social media networks.
- 6. Part 1 Social Media is Everywhere Social media is mobilized by users who carry it along with them via their smartphones and tablets. In addition, ad recipients also take action immediately because they have a web browser in their palms. Check this informative video on mobile trends: Click Here User’s emotion, preferences and environment details are now accessible via the smartphone. Google’s Awareness API released in June 2016, allows Android devices to harness location, mood, context and much more using GPS based location, weather, time zone and beacons. Social media can analyze text, audio and video and apply these above contexts to refine the ad recipients experience and engagement.
- 7. 7 Part 2 Social Media Landscape- 2016
- 8. 8 Part 2 Facebook is a popular free social networking website that allows registered users to create profiles, upload photos and video, send messages and keep in touch with friends, family and colleagues. The site is available in 37 different languages and more than 1.65 billion active users. Pros: • Reach large number of people within your target audience • This platform lends itself well to engagement as people who like your page can like, comment on, and share your posts. • Not only can you share new products and updates, but you can share basic company information like your address, hours, and phone number. • If you so choose, you can promote your posts to reach a wider audience and introduce yourself to potential new "likers.” This is the most effective platform for reach. • The Insights tool allows advertisers and marketers to track the analytics behind the content being posted. Cons: •Any negative feedback will be highly visible •With each of the billion users having several personal connections and liked pages in their timeline, ads get lost in the mix. •The messaging feature may lead to more messages and inquiries from followers than your company is able to handle. •Investing in paid advertising is the best to guarantee that the ad will be seen Fun Fact: As of this past week, Facebook now will not clutter your newsfeed with articles and ads so this will become a challenge for advertisers since Facebook changed its algorithm. The goal is for Facebook to show you more posts from your personal page and interest and to stay away from brands, new websites, and clutter.
- 9. 9 Facebook Ads: Paid Social Facebook Ads is a prime example of what is known as “paid social,” the practice of advertising on social networks. With the highest number of monthly active users (or MAUs) of any social network in the world, Facebook has become a highly competitive and potentially lucrative element of many business’ digital advertising strategies. The Strengths and Advantages of Facebook Ads • Compared to Google AdWords, Facebook Ads (as we know it today) is the scrappy newcomer, but in fact, Facebook has been refining and improving its advertising solution for several years. Today, Facebook Ads is a pioneer in the sphere of paid social and has become a central part of many business’ digital marketing strategies. • One of the most powerful applications of this functionality is the ability for advertisers to create what are known as “lookalike audiences.” Advertisers can upload customer information from their own databases to Facebook, which then applies filtering based on its own data and information provided by third-party data brokers to match users whose information the advertiser uploads. This creates the “lookalike” audience of users, allowing advertisers to effectively double the potential reach of their advertisements by targeting new customers who exhibit the same interests and consumer behavior as their existing customers. • Many newcomers to paid social ask the same question, “Does Facebook advertising work?” By now, the answer should be clear – yes it does, and remarkably well. However, rather than view Facebook as the world’s largest potential billboard, advertisers consider Facebook as a way to get closer to their ideal customers than they ever thought possible. Continued Part 2
- 10. 10 Part 2 Instagram is a picture based app that allows users to take professional type pictures with it’s many different editing tools and filters. With its 3 million plus users, Instagram is one of the major social media players for the millennial and Gen Z generations. For a business, Instagram can be a great tool to help with brand awareness and identity. Pros: • Great usability and user experience • Imaged based interface allows for story-like content strategy • Users can add hashtags to their posts giving businesses insight into trending topics • Users can also tag friends or other businesses in their post allowing them to see the original post Cons: • Users cannot attach links with specific pictures. They can only be posted on the general profile, this could cause confusion if trying to promote a specific site. • Because it is an image based platforms, users cannot interact as easily with brand as with other platforms. • Instagram is an only a mobile app and users are unable to post content through traditional browsers
- 11. 11 Part 2 Pros: • One of the outstanding advantages of YouTube marketing is the Viral-ability of the approach. Millions of users surf YouTube every day for the latest video regardless of the topic and duration. • YouTube provides an ideal platform for every marketer to achieve massive viewing audiences quickly to boost their business. YouTube has become the second largest search engine with about 55% consumer traffic on the Internet • A YouTube video enjoys a better chance of a higher ranking by Google to attract more viewers and traffic to the web business site. • YouTube marketing offers a great advantage to new and small business owners or marketers who are cash tight in their business endeavors. This free and cost effective marketing platform offers a great opportunity for entrepreneurs and marketers Cons: • One of the prominent disadvantages of YouTube marketing is a ‘No Guarantee’ outcome as the facility is free without coercion on viewers to support the business. Moreover, if the video is not well designed or set up with an opt-in feature or clear backlink, viewers may not be directed to the right website. • YouTube does not offer too much flexibility in customizing videos which would allow better videos to be produced. • YouTube has certain restrictions on videos posted on its platform that limits the dynamism of the video as a promotional business video. This could be experienced from the limitations of YouTube on calls-to-actions feature which other video hosting platforms are more open and generous. • The Advertisement before a video starts, annoys consumers who are interested in viewing
- 12. 12 Part 2 With over 300 million users, Twitter is one of the most up-an-coming aps in the 13-35 age group. Although Twitter has been around a while, recent changes in the platform have made it easier to advertisers to reach their target market. Twitter’s unique selling point is that gives an user the ability to talk directly with celebrities, CEOs, and businesses. Pro’s: • Business can interact with customers directly and use the platform as an extension of their customer service. • Focus on live and in-the-moment interactions between users. Users can get instant response from other users. • Can be used for brand awareness and identity with the ability to link to external content directly on the post Cons: • Post length restriction of 140 characters. Can limit the message that is being promoted by user. • Because of the anonymous nature, there is a high amount of negativity on site from users • Chronological feed could bury posts in between users other followers. • Posts can truly never be deleted.
- 13. 13 Part 2 Snapchat is a mobile messaging application used to share photos, videos, text, and drawings. On any given day, Snapchat reaches 41% of all 18 to 34 year-olds in the United States. Advertising on Snapchat: • Over 100 million people use Snapchat every day • Snapchatters watch over 10 billion videos per day, which is more than a 350% increase in the last year alone Fun Fact: Ads on Snapchat come in many shapes and sizes to fit your goals, but they all have one thing in common. The same team that designs the consumer products creates the advertising products, delivering incredible results for advertisers. Pros: • High number of millennials use the platform giving advertisers ability to reach a very large, targeted audience. • “In-story” ads integrate advertising directly into the stories of users giving them a seamless transition. Cons: • Even with the temporary nature of the platform all pictures and videos are stored on the social network site. Previous hacking has uncovered messages users thought were private and deleted. • As users are unfamiliar with ads on the site there has been advertising fatigue with a slight drop off in users.
- 14. 14 Part 2 Pinterest is a visual content sharing social platform, similar to an online corkboard. Each user can create “boards” that are usually related to the same topic. Visual bookmarks, or images are called “pins” and are placed in a related board. Unlike other sharing social media platforms, Pinterest isn’t really about creating content so much as collecting it. A lot of retailers and businesses use it as a type of portfolio or catalogue. Pros: • If you have products to showcase, this photo-sharing application is perfect for showing them off with the added bonus of being able to link each post to your web page of choice. • The website allows its users to pin posts to specific boards which allows them to easily save and find your content. • When a user pins a post to one of their boards, it is automatically shared with that user's followers. • The buy button is a huge win for direct commerce Cons: • Because of the highly visual nature of the site, Pinterest doesn't lend itself as well to service-based companies as it does to those who sell products. • The site's audience is predominately made of women; if your product or service has a predominately male audience, this may not be the best platform for you.
- 15. 15 Create Mission Statement: Why is participating in social media important? What makes your contributions unique? Determine best ways to support company’s greater mission, vision and goals. Define Goals, Objectives & KPIs: State most important, quantifiable goals. Assign specific, measurable objectives to each goal. Do you want to raise awareness? Do you want to increase sales? What key performance indicators will help you reach them? Conduct SWOT / Analyze Competition: Identify company’s strengths and weaknesses. Discover opportunities and threats. Monitor competitions tactics and conversations both online and offline. Use data to differentiate, create opportunities for your brand. Establish Target Market: Get to know your existing customers. Read, listen, interact with current audience to learn better ways to communicate with prospects. Develop Buyer Personas to ensure your advertising meets receptive and profitable audience. How To Build A Social Media Marketing Plan:Part 3
- 16. 16 Plan Content Strategy: Publish content that conveys brand image and personality. Produce different types of ad formats (news feed, side rail, video) to test among target audience. Schedule ads to run when and where audience most likely to engage. Find Appropriate Channels: Review data gathered during Competitor & Customer analysis. What channels provide best opportunity? Where is the “ideal” customer most active? Test ads on select channels to gauge effectiveness. Allocate Resources & Budget: Tie team member roles to goals and objectives. Consult web analytics for existing traffic, conversion data. Use social media insights for estimates given CPM, CPC or CPA bidding. Calculate costs of manpower and applications used to deploy campaigns. Determine how much company is willing to spend to execute. Test, Measure, Analyze, Optimize: Social media is constantly changing! Update ad campaigns to deliver fresh content regularly. Track performance using insights, URL shorteners and UTM codes. Identify success and failures, adjust plan accordingly. How To Build A Social Media Marketing Plan:Part 3
- 17. 17 Part 3 Specific - Well-defined purpose, goals and desired outcomes Measurable - Able to track progress in achieving desired outcomes Attainable - Achievable based on available resources (time, money, people) Relevant - Sensible, possible to attain based on data gathered Timely - Given specific time frame (30 days, 90 days, etc.) Example: “Increase sign-up form completions by 10% within the next 3 months” Setting SMART Objectives:
- 18. 18 Part 3 Target your ads to the right audience, by creating detailed profiles of ideal customers: WHO ARE THEY? HOW OLD ARE THEY? WHERE DO THEY LIVE? WHAT DO THEY VALUE? WHAT MOTIVATES THEM? WHERE / WHEN DO THEY INTERACT? Gather insights from existing customers, social media accounts, web analytics tools, competitors. Redefine Buyer Personas as more information is uncovered. Creating Buyer Personas:
- 19. 19 Social Media Creative Strategy Advertising Appeals 1. Informational: If using this approach, social media ads have to be quick and concise regarding their points of parity/differences. Stressing the brand's popularity is key appeal to the large demographic users of social media (18-35 years). 2. Emotional: Significant emotional appeals for SM include status, recognition, belonging, affiliation, and involvement. Transformational ads stand out because social media ads are generally very personal compared to traditional forms of advertising. Users are looking for authentic, deep and honest qualities in transformational social media ads. Part 3
- 20. 20 Part 3 Ad Execution Style and Creative Tactics This is where the social media platform provides a plethora of options for advertising creativity and tactics. The execution style and tactics go hand-in-hand in social media and it is difficult to determine these apart from each other. Below are a few examples: • Ikea promoted a new store opening and used Facebook's tagging feature in a unique way. This allowed the consumer to feel like they were in the showroom and see what product they liked most. (Demonstration/Slice of Life) • https://goo.gl/0FrdeJ • BOS Iced Tea (South Africa) used this campaign to entice consumers to connect with them through Twitter and buy from their vending machine using tweets. (Straight- sell/Fantasy) • https://goo.gl/f0AxPh • Shelter Scotland used Foursquare to encourage consumers to check in at all 8 of their stores and earn discounts and prizes for connecting with them through Foursquare. (Straight-sell) • https://goo.gl/e5d5lh
- 21. 21 Part 3 Example #1 of Successful Social Media Advertising NetBase ranked Ben & Jerry’s #1 Top Restaurant Brand in Social Media Industry Report 2016. Criteria included overall brand mentions, reach & positive/negative sentiment. Jan 2015 - Dec 2015: Netbase analyzed 100 Quick Service, Fast Casual & Casual Dining Restaurant accounts using Market Research & Social Listening. Ben & Jerry’s promotes tasty creations (Brrr-ito!), fun flavors, ice cream giveaways (#FreeConeDay) and environmental causes.
- 22. 22 Part 3 Example #2 of Successful Social Media Advertising Snapchat’s Gatorade Ad and Feature Snapchat advertising is rapidly improving its offerings for brands, while being careful not to alienate its user-base. This week marked Snapchat’s release of an API that hugely benefits advertisers looking to pursue a paid presence on America’s fastest growing social media platform. Brands that have seen success using Snapchat advertising include Gatorade, Vans, ShockTop, Trolli, Empire, Kraft, and bareMinerals. Gatorade sponsored Super Bowl Lens which generated over 100 million views! Watch Here
- 23. 23 Part 3 Example #3 of Successful Social Media Advertising March 2016: Burt’s Bees pledged to plant 1 Billion wildflower seeds to raise awareness for dwindling honeybee populations, killed off by pesticides. For every purchase of limited edition lip-balm and for every social media post that dropped the letter “B” and used #BringBackTheBees, Burt’s Bees would plant 1,000 seeds. June 2016: Reached its goal - 10 days short of deadline. Consumers contributed over 1 Million posts and tweets! Over 1 Billion wildflower seeds will be planted in patches to drive bees closer to pesticide-free US farmland. Read more on #BringBackTheBees here
- 24. 24 Part 3 Measuring Social Media Social Media measurements are grouped into two types: 1. Ongoing Analytics 2. Campaign-Focused Metrics Ongoing Analytics are grouped within the rest of internet campaign tracking, while Campaign-Focused Metrics require separate measurements. Ongoing Analytics – Ongoing monitoring that tracks activity over time Ongoing analytics are necessary for keeping up with the overall pulse of general conversation about your brand and company. Once your brand tracking is set up, you can just let it run and check in regularly to see how everything is going. Campaign-Focused Metrics – Campaign or event analytics with a clear beginning and end Campaign-focused metrics, on the other hand, help you understand the impact of targeted marketing initiatives and will vary from campaign to campaign, depending on your goals for each. An effective social media measurement program will likely include both ongoing and campaign-specific measurement.
- 25. 25 Part 3 Measuring Social Media: Ongoing Analytics and Campaign Focused Metrics Use meta and specific data thru internet tracking analytics/measurements and website analytics for analysis. Examples: 1. Awareness – use metrics such as volume, reach, exposure, and amplification in order to find out how far your message is spreading. 2. Engagement – use metrics involving retweets, comments, replies, and participants to find out how many people are participating and how often. 3. Drive Traffic – use URL shares, clicks and conversions to find out how people are moving through social media to the corporate website and consumer behavior at that time (ie: purchases, website interaction). 4. Advocates and Fans – track contributors and influence to discover who is participating and their brand impact. 5. Share of Voice – track volume as compared to competitors. Track overall media buzz about your industry or product category as it compares to your company specifically.
- 26. 26 Part 3 Measuring Social Media: Combining The Two Measurement Types into a System Using both types of Social Media measurements allows marketers to create and manage a 5-Category system to track social media from consumer exposure to sales.
- 27. 27 Measuring Social Media: Measuring the 5-Category System BRAND AWARENESS: Measure of brand recognition to target audience. EXPOSURE - Measure of how many potential consumers have been reached. Ex: Twitter – number of followers and retweets and growth rate. Youtube – number of subscribers and views per promotion. INFLUENCE – Measure of how your band relates compared to competition, as well as whether campaigns are positive or negative. Twitalyzer, Social Mention, Radian 6 and ScoutLabs are tools available. Appropriate time to influential users and average users. ENGAGEMENT – Measure of consumers that did something/took action with your message. Radian 6, Biz360 and TweetEffect provide tools for such measures. KPI’s include but are not limited to: Bookmarks, Posts, Downloads, Comments, Favorites, widget installs, Likes. Ratings, Reported Spam/Abuse, Views. LEAD GENERATION: Traditional ROI Action ACTION/CONVERT – Measure of online sales, registrations for content downloads, webinar registrations, online lead generation form completions, Phone-in leads. RETAIN – Track those consumers who repeat the overall system in order to measure repeat business. Part 3
- 28. 28 Measuring Social Media: Measuring ROI Six Steps to Measure ROI in Social Media Marketing: ROI = (Gain from Investment – Cost of Investment)/Cost 1. Set Conversion Goals – Define the actions you want your consumers to perform during a social media campaign. Typically this will involve a purchase, but could also include: Filling out a contact form, Newsletter signup, Video views, etc. 2. Track Conversions – Use web analytic tools such as Google analytics to track goals set. 3. Assign Monetary Value to Each Conversion Type – Although sales is straightforward, other goals can be arbitrary depending on the value a company feels a conversion is worth. 4. Track traffic to landing page – Use analytic tools to analyze conversions from each platform. Analytics allow marketers to view the value of conversions from each source as compared to set goals. 5. Calculate Costs – separate costs as it relates to each platform. 6. Analyze Data and Take Action - ROI results allow marketers to take actions to adjust campaign strategies to those platforms which show the most promise. An important component to measuring ROI is tracking the source of revenue throughout a campaign from each social media platform as it leads to the company’s website and subsequent sales/conversions. Part 3
- 29. 29 • Given the ever increasing number of social media platforms available, it is inefficient for a digital marketer to keep track and effectively utilize the output from all of them if they require individual management. • This gave rise to the market for aggregated social media management and measurement platforms. • Platforms such as Spredfast help with the entire lifecycle of advertisement and managing digital communications. See included video. • Netbase example, demo video linked here. Aggregated Platforms for Social Media ManagementPart 3
- 30. 30 Conclusion With the increasing amount of social media platforms, social media advertising has become a crucial part of every business’ marketing strategy. Social media gives companies direct access to the elusive millennial, allowing them to target campaigns specifically to them. With the rise of smart phone usage, social media is now in the hands of users everywhere all the time. Marketers can track through ROI and other measurements to see how successful the ad was to the target audience. “Social Media is a tool to build awareness, connections, relationships, and eventually action.”
- 31. 31 The End Now for a Social Media Discussion Twitter Youtube Instragram Pinterest Snapchat Facebook
- 32. References • http://marketingland.com/social-media-advertising-set-explode-next-3-years-121691 • https://www.marketingtechblog.com/brief-history-social-media-advertising/ • http://blog.hubspot.com/marketing/basics-effective-social-media- advertising#sm.001gvzezl135pdiste1299l9wad78 • https://blog.hootsuite.com/beginners-guide-to-social-media-advertising/ • http://android-developers.blogspot.com/2016/06/create-intelligent-context-aware-apps.html • http://blog.waypostmarketing.com/the-pros-and-cons-of-social-media-platforms-part-1 • http://www.rickwhittington.com/blog/pros-and-cons-of-four-major-social-media- platforms/#sthash.598s96ns.dpuf • http://www.socialmediatoday.com/content/pros-and-cons-5-biggest-social-media-platforms • http://www.fredcavazza.net/files/2016/04/Social-Media-Landscape-2016.png • https://blog.kissmetrics.com/social-media-measurement/ • http://www.socialmediaexaminer.com/4-ways-measure-social-media-and-its-impact-on-your-brand/ • http://www.svmsolutions.com/resources/articles/how-measure-social-media-marketing-success • http://www.dashboardjunkie.com/measure-online-roi-six-simple-steps Source: Interactive Digital Marketing, Prof. Alex Edsel UTDallas.