Get More From Your Social Media
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Presented by Caroline Li – Tack (formerly Snap Skout) Association of Alternative Newsweeklies Digital Conference 2015 San Francisco, CA
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Get More From Your Social Media
- 1. Presented by Caroline Li – Tack (formerly Snap Skout) Association of Alternative Newsweeklies Digital Conference 2015 San Francisco, CA
- 2. Presented by Caroline Li – Tack (formerly Snap Skout) Association of Alternative Newsweeklies Digital Conference 2015 San Francisco, CA
- 3. 1. Social Media Advertising Spend Projections 1. 2014 Social Media Marketing Report Findings 1. Social Media Networks & Trends 1. The Publisher’s Opportunity 1. Why Small Businesses Use Social Media 1. Publisher Tips: Going the Extra Mile With Your Social Media
- 4. SOCIAL MEDIA ALLOWS COMPANIES AND BRANDS TO: • Share content easily: Conversations are started organically and marketing materials are easily shared. • Reach audiences cheaper: Compared to traditional channels, social media is affordable and effective if done the right way. • Play on a level playing field: for brands of every size and industry. • Self-promote more frequently: empowers companies and brands to highlight sprinkles of great content and build personality. • Be in the moment/transparent: Real-time communications and customer service. • Collect Info: learn more about target audiences easier and for less money. WHY COMPANIES USE SOCIAL MEDIA
- 5. A LOOK AT SOCIAL ADVERTISING SPEND (GLOBAL) Digital to account for third of all revenue by 2018 Worldwide social network ad spending reached $16.10 billion in 2014, a 45.3% increase from 2013. - eMarketer.com Digital ads will lead the way for global media growth in the next four years, accounting for 33% of total advertising revenue by 2018. - Price Waterhouse Coppers
- 6. A LOOK AT SOCIAL ADVERTISING SPENDING (U.S) Social media marketing spending in the United States from 2014 to 2019 (in billion U.S. dollars). Forrester Research projected the spending would increase from 7.52 billion U.S. dollars in 2014 to 17.34 billion U.S. dollars in 2019. A forecast of social media marketing expenditure in the United States from 2014 to 2019.
- 7. A LOOK AT SOCIAL ADVERTISING SPENDING Nearly 9 in 10 marketers use social media marketing. - emarketer.com
- 8. SOCIAL MEDIA EXAMINER Social Media Marketing Industry Report 2014 Major findings • Marketers place very high value on social media. • Tactics and engagement are top areas marketers want to master. • Blogging holds the top spot for future plans. • Podcasting on growth trajectory. • Facebook and LinkedIn are the two most important social networks for marketers. • Original written content is most important for social media marketing. • Most marketers aren't sure their Facebook marketing is effective: Only 34% of marketers (slightly more than one in three) think that their Facebook efforts are effective.
- 9. SOCIAL MEDIA EXAMINER Social Media Marketing Industry Report 2014 Top 5 social media questions marketers want answered: At least 83% of marketers surveyed felt they are struggling to answer all of the following questions: #1: TACTICS: What social tactics are most effective? The number-one question marketers want answered (91%) is which tactics work best. This high number is likely in response to the constant changes taking place across many social networks. #2: ENGAGEMENT: What are the best ways to engage my audience with social media? Figuring out how to best connect with people remains high on the list of questions marketers want answered (89%). As more businesses become social, those that best engage will stand out.
- 10. SOCIAL MEDIA EXAMINER Social Media Marketing Industry Report 2014 Top 5 social media questions marketers want answered cont. #3: MEASUREMENT: How do I measure the return on my social media marketing? A significant 88% of marketers want to know how to measure their return on investment for social media activities. This question has been top of mind for marketers for the last four years. Clearly very few marketers have figured this one out. #4: TOOLS: What are the best social management tools? As interactions increase and newer social networks continue to grow, the need for tools to simplify social media marketers' jobs becomes more important. A whopping 85% feel like they don't know what tools are best. #5: AUDIENCE: How do I find my target audience with social media? Figuring out how to target customers and prospects is a big concern for marketers (83%). Because of the enormous size of social networks combined with ever-changing ways to connect with people, marketers need guidance.
- 11. SOCIAL MEDIA EXAMINER Social Media Marketing Industry Report 2014 “83% of marketers agreed that they had integrated their social media and traditional marketing activities, slightly up from 79% in 2013.” – Social Media Examiner
- 12. SOCIAL MEDIA EXAMINER Social Media Marketing Industry Report 2014 “The top two benefits of social media marketing are increasing exposure and increasing traffic. 92% of all marketers indicated that their social media efforts have generated more exposure for their businesses. Increasing traffic was the second major benefit, with 80% reporting positive results. Most marketers are using social media to develop loyal fans (72%) and gain marketplace intelligence (71%).” – Social Media Examiner Download Report Here: http://www.socialmediaexaminer.com/SocialMediaMa rketingIndustryReport2014.pdf
- 13. Companies advertising on Facebook will increase, and so will the price • Organic post reach will continue to decrease significantly. • “Pay to play” model with their promoted posts will become standard. • Facebook’s ad revenue was $2.96 billion (up 64% year-over-year) and it’s expected to grow exponentially in 2015. • Facebook native video Twitter advertising • Pick what you pay for: performance-based actions like followers, leads, conversions, and engagement rather than just retweets or clicks. Instagram • Is killing it with younger users. Has more young users than FB and Twitter. 83% of US teens in wealthy households are on Instagram. LinkedIn • From B2B to B2C SOCIAL MEDIA TRENDS FACEBOOK, TWITTER, INSTAGRAM
- 14. Are social networks the only ones that are able to generate revenue from social media? SOCIAL MEDIA TRENDS Traditional Media Publishers?
- 15. 1. What do small businesses need? 1. How are they currently marketing to new customers? 1. What kind of customers do they want? 1. What more could they be doing? 1. What tools are easily available and convenient? 1. What tools do big companies have access to that smaller ones don’t? 1. Is social media marketing here to stay? WHAT WE ASK OURSELVES AT TACK
- 16. SOCIAL MEDIA & THE PUBLISHER’S ADVANTAGE Social media companies are networks for self-promotion, but publishers have the brand recognition and influence that gives them leverage with advertisers and the public. Facebook is a free for all, like a random bulletin board. Publishers have standards and character that brands want to be associate with. The opportunity with social: • Offer existing advertisers new options or added services. • Capture the rest of the business community that has not historically advertised with your publication. • Start to close the gap between social media and traditional media. • Promote social without compromising editorial / own social media network.
- 17. NATIONAL VS LOCAL SOCIAL MEDIA NEEDS National Advertisers Local Advertisers Scalability Pleasing the right crowd, can’t afford to play the numbers game Advanced targeting Some targeting National & local reach Local reach Quantity of customers Quality of customers/Returning customers Care Most About: reputation and competition over competitors. Care Most About: customers in their neighborhood, day-to-day sales, foot traffic, reviews
- 18. WHY SMALL BUSINESSES USE SOCIAL MEDIA When you think about why small businesses use social media vs why big corporations use it, the reason are slightly different. 1. PEER PRESSURE (everyone else is doing it and my customers expect me to be on some form of social media.) 2. COMPETITION (If everyone else’s exposure is increased due to social media, then I can’t fall behind. If they can do it, I can do it.) 3. INTELLIGENCE (this is why they should be using it) Social media has the freshest, most relevant customer data: users are supplying data about their preferences, demographics, behaviors, emails, relationships and more. Small businesses get this kind of data through social media and email subscribers. These personal communications are extremely important to small businesses.
- 19. What small businesses will soon realize: It’s not just a popularity contest. You’ve mastered how to do social media. Now what do you do with the results? LEVERAGE DATA COLLECTED FROM YOUR SOCIAL MEDIA CHANNELS TO CREATE MORE MEANINGFUL RELATIONSHIPS AND HIGHER ENGAGEMENT. WHY SMALL BUSINESSES USE SOCIAL MEDIA
- 20. SOCIAL MEDIA TOOLS Social media has become the most used advertising tool for small businesses because of its accessibility, and now they want more! New customer needs: • Seeking new ways to bring more followers to my social media. • Getting more exposure outside of the social network. • Reaching the right new customers without annoying them. • More proof that my social media efforts are effective.
- 21. ARE YOU READY TO SELL SOCIAL?
- 22. BEFORE YOU START SELLING… TIP: You can talk the talk, but you gotta walk the walk, too. Put your company through social media 101 before you attempt to sell social media.
- 23. PUBLISHERS: GOING THE EXTRA MILE WITH SOCIAL MEDIA Simple things you could be doing: keep two-way communication “title of article” www.yourmagazine.com/story-link by @MagazineTwitter @AuthorTwitter
- 24. PUBLISHERS: GOING THE EXTRA MILE WITH SOCIAL MEDIA Simple things you could be doing: “Tweet This” The LA Times website allows readers to tweet stories using prewritten tweets that aren’t just the article headline. Other publishers can do this by using services like Click to Tweet: https://clicktotweet.com/ You can also track the activity of each link over time. Think about selling: Embedded tweets on sponsored posts and event listings/articles.
- 25. PUBLISHERS: GOING THE EXTRA MILE WITH SOCIAL MEDIA Simple things you could be doing: Social comments with options to monetize
- 26. ADVERTISERS PUBLISHERS PUBLISHERS: GOING THE EXTRA MILE WITH SOCIAL MEDIA
- 27. TACK IS… Real time instead of static Social instead of selly Transparent instead of tricky (not sponsored post. What you see is what you get.) Contextual instead of creepy (referring to retargeting). Tack uses NLP (Natural Language Processing) to find out what the article is about so it can best match social offers to extend the content.
- 28. Make your readers happy. Deliver a useful experience. Advertising can be helpful. Make your readers happy. Deliver a useful experience. Advertising can be helpful.
- 30. Tweet This! So glad I woke up for this 9AM social media #AANDigital Session with @TheCarolineLi from @TackLocal “Get more from your social media.” says @TackLocal at #AANDigital. Cool tool!” Time to get creative. Time to think about the potential of your social media. Thanks @TheCarolineLi & @TackLocal
Notas do Editor
- Social Media Advertising Spend Projections 2014 Social Media Marketing Report Findings Social Media Networks & Trends The Publisher’s Opportunity Why Small Businesses Use Social Media Publisher Tips: Going the Extra Mile With Your Social Media
- Why are companies using social media?
- Worldwide social network ad spending reached $16.10 billion in 2014, a 45.3% increase from 2013. It’s projected that digital ads, which includes social will account for a third of total advertising revenue by 2018. That’s surpassing TV ad spending. __________ADDITIONAL INFO_________ Digital ads will lead the way for global media growth in the next four years, accounting for 33% of total advertising revenue, nearly catching TV in the process, according to a new - Price Waterhouse Coppers Worldwide social network ad spending reached $16.10 billion in 2014, a 45.3% increase from 2013 that pushed social’s share of overall digital ad investment to 11.5%. Combined social network ad dollars from North America, Western Europe and Asia-Pacific represented 93.7% of global expenditure. – eMarketer.com
- Looking at just the US, the trend is consistent, with social advertising spending increasing each year. By 2019 social advertising spend is expected to reach $17.34 billion.
- Nearly 9 and t10 markers use social media marketing.
- Here are some key findings from Social Media Examiner’s “Social Media Marketing Industry Report.” Their study surveyed over 2,800 marketers with the goal of understanding how they are using social media to grow and promote their business. You’ll see that a lot of their efforts are in content marketing and original content, not just promoting post or paying for tweets. They also are still learning. They want to know the most effective social tactics and the best ways to engage their audience with social media. “Most marketers aren't sure their Facebook marketing is effective: Only 34% of marketers (slightly more than one in three) think that their Facebook efforts are effective.” For us at Tack and publishers, I think this stat is most compelling point. It tells us there’s opportunity for others to provide more value to existing social media. _____________________Additional Data Date ______________________________ • Marketers place very high value on social media: A significant 92% of marketers indicate that social media is important for their business, up from 86% in 2013. • Tactics and engagement are top areas marketers want to master: At least 89% of marketers want to know the most effective social tactics and the best ways to engage their audience with social media. • Blogging holds the top spot for future plans: A significant 68% of marketers plan on increasing their use of blogging, making it the top area marketers will invest in for 2014. • Podcasting on growth trajectory: Only 6% of marketers are involved with podcasting, yet 21% plan on increasing their podcasting activities in 2014—a more than three-fold increase—and 28% of marketers want to learn more about it. • Facebook and LinkedIn are the two most important social networks for marketers. When forced to only select one platform, 54% of marketers selected Facebook, followed by LinkedIn at 17%. • Most marketers aren't sure their Facebook marketing is effective: Only 34% of marketers (slightly more than one in three) think that their Facebook efforts are effective. • Original written content is most important for social media marketing: A significant 58% of marketers stated that original written content is the single most important form of content, followed by original visual assets (19%).
- The Top 5 social media questions marketers wanted answered were: Tactics: They want to know how to use each network Engagement: They want to know what to say on these networks
- Measurement: They want to know what they do is working or worth their time. Tools: How to better manage their social media, which means they are more intentional about their strategy these days Audience: How to get to the right people.
- But that doesn’t mean advertisers aren’t putting their eggs all in one basket with social. “83% of marketers agreed that they had integrated their social media and traditional marketing activities, slightly up from 79% in 2013.” The increase comes from them adding social tools.
- The top two benefits of social media marketing are increasing exposure and increasing traffic. 92% of all marketers indicated that their social media efforts have generated more exposure for their businesses. Increasing traffic was the second major benefit, with 80% reporting positive results. Most marketers are using social media to develop loyal fans (72%) and gain marketplace intelligence (71%)
- Where are local advertisers spending on social? besides the number of users they can reach, their ad offerings are getting smarter.
- As we enter into this new avenue of online revenue, I want us to ask ourselves, are social networks the only ones that are able to generate revenue from social media?
- Here are a few things we ask ourselves at Tack before we try to sell social.
- Traditional advertising isn’t going to disappear, the dollars are just going to get smaller. It’s time to start thinking about how to replace those fading dollars with digital and social media dollars. Even if you have a strong advertising base, there’s still a large portion of your local business community that has always been priced out of tradition online advertising that you can capture with social. There are also existing advertisers that want more ways to advertise.
- Local businesses have slightly different goals when it comes to marketing due to the nature of their business and customer. Local, small, and mid size businesses need advertising tools that streamline the process while helping them avoid alienating their community. Constantly pushing advertisements and sales no longer works on today's increasingly social-media-savvy consumers. Today’s customers are looking for reasons to be loyal and local.
- In my first slide I went through why companies use social media: transparent, timely, cheap, shareable. But when you think about why small businesses use social media the reason are slightly different. If you have an honest conversation with a small business owner they’ll tell you that if they could have it their way, they wouldn’t have to bother using social media. Because they need to run their shops. They don’t have huge marketing teams, corporate strategies, and budget dollars that they have to spend every year.
- What small businesses will soon realize: It’s not just a popularity contest. You’ve mastered how to do social media. Now what do you do with the results? They’ll train themselves to leverage data collected from their social media to create more meaningful relationships and higher engagement. Meaningful relationships and higher engagement is the most important thing for them, right behind direct sales, of course.
- Social media has become the most used advertising tool for small businesses because of its accessibility, and now they want more! New customer needs that come with those that have mastered the basics of social. Seeking new ways to bring more followers to my social media. Getting more exposure outside of the social network. Reaching the right new customers without annoying them. More proof that my social media efforts are effective.
- The opportunity for Tack, publishers, and anyone that wants to innovate in this space is that small businesses now have a tool that they like and to keep it simple, affordable, and adding more value to what they’re already doing. We think with the help of publishers, we can starting filling in the gaps for small businesses.
- So, now that I’ve convinced everyone in this room that they can sell social. I want to also point out that you can’t just go out and sell this new shiny product to advertisers. You have to be convincing, meaning, your site has to look social before your advertisers get there. Put your company through social media 101 before you attempt to sell social media. In the meantime, I wanted to give you something short and sweet to leave this sessions with. Here are 3 simple tools that I like that every publisher could be doing tomorrow to make their company more social, which could contribute to engagement and revenue at the end of the day.
- Tweet yourself! Also Include your writer’s Twitter, they are your ambassadors. People want to follow real people and feel connected to the newspaper in more connected ways. If you include the twitter handle of both your publication and writer, you can also track and get notifications as the story starts to spread on social media.
- People won’t click on the same headline they’ve seen over and over again on Twitter. Switch it up. Also, have fun with it. Feed them some alternative tweets. If you don’t have this feature in your CMS, it’s not hard to have your writers do it manually with services like Tweet This. Grow the # of your story shares on Twitter offering different messaging to share it with.
- When people comment, allow them to show their own social media network their comments and attract their friends to join the conversation. These companies are also in the stages of monetizing by pairing advertising within comments based on context. We’ll see how that goes…
- At Tack we tell advertisers to turn their Facebook posts into useful ads. And publishers to recommend social content that readers will enjoy.
- How Tack is different from standard ad network advertising is that it’s: Real time instead of static, social instead of selly, and transparent instead of creepy.
- I’m going to end with the slide from my presentation from last year’s Digital Conference. How will publishers increase digital revenue is a huge question. But we’re not going to make any money if we don’t solve the more important questions first. How do we make and keep our readers happy? How do we deliver a useful experience? How can we make advertising helpful? Tack is one of the early innovators that is approaching advertising in this way . Nobody is doing what we’re doing right now. But I look forward to seeing many more like-minded innovators enter the space and see what they’ll come up with.
- Thanks and for those who have super inspired this morning, here are some share lines!