Success in Social Media Marketing

“Conventional marketing wisdom long held that a dissatisfied customer tells ten people. But…in the new age of social media, he or she has the tools to tell 10 million” Paul Guillin, author of The New Influencers (HBR, 2014)

Many businesses and organisations are still baffled on how to use Social Media platforms to effectively market their products and/or services. Companies are spending precious working hours on the new trend of Social Media. There is in a sense a ‘Herd Mentality’, whereby companies are simply following suit and assuming they need the top 4 (Facebook, Twitter, LinkedIn and Youtube). Whilst these can be used effectively, it much depends on what type of business you are running as to what kind of social media platforms you should be using. However, the lines are blurred and therefore most companies simply opt for all and manage them in the same way. Social Media Marketing is fundamentally different from traditional marketing techniques. Businesses need to consider goals, objectives and metrics.

Social Media is now an integral part of online consumer’s habits, but many efforts to engage with these consumers via online platforms have been futile. The Harvard Business Review found that only 12% of businesses feel they are using social media effectively (HBR, 2014).

This ‘social stagnation’ may be due to a number of things:

-      -    Social Media is not necessarily an ideal marketing channel for every business

-      -    Lack of a clear social media strategy: including listening and content strategies

-      -    Lack of attention to social media channels: creating them, but not maintaining or using them

The Harvard Business Review also revealed that 75% of companies did not know where their most valuable customers were talking about them, 31% do not currently measure the effectiveness of social media, only 23% are using analytic tools and only a fraction (7%) are able to incorporate social media into marketing activities (HBR, 2014).

Ric Dragon, an expert in online marketing identifies 7 Ways to make you successful in social media marketing, coining the term ‘Social Marketology’ (Forbes, 2014). I have shortened and adapted his 7 points in order to convey a way to develop a digital marketing strategy. The objective of strategy is to achieve a competitive advantage, which will result in superior performance. As most companies have insufficient knowledge of how to use social media marketing effectively, gaining this knowledge can greatly increase a company’s competitive edge, and therefore their brand awareness and market share. 

Focus on desired outcomes first: Social media objectives: increased brand awareness, lead generation, service and support and reputation management.

Incorporate brand personality and voice: Culture > humanized brand voice: listening carefully to the tone, vision, and expertise of that voice.

Identify the smallest segments possible of your constituents:  Social media allows you to be hyper-granular and drill down to micro-segments, to dramatically improve engagement levels and conversion ratios.

Identify the communities for these micro-segments: today a community is characterized by what they value, more than proximity to one another > should create own online community > blog and social media engagement > communities then = advocates.

Identify the influencers of these communities: Social media brings all the aspects of important influencers these days, including peer pressure, authority and credibility. Feedback from social media operates in real time; you don’t have to wait months for results. You spend the months influencing the influencers.

Create an action plan with metrics:  listening plan, channel plan, SEO plan, and a content creation plan, with activities and metrics.

Iteratively execute and measure results. Measuring is all about ROI = customer acquisition cost, revenue growth or profit etc. Iterate and expect to pivot, based on results, because you can’t get it all right the first time.

To really have success in your market you must apply the above to your own business or organisation and try different techniques. However, there is no trial and error. As a rule of thumb first ask yourself whether you will be marketing B2B, B2C or both? This will give you a standpoint to start using the appropriate channels, although arguable, Facebook is usually considered as the ideal portal for B2C and LinkedIn the Ideal platform for B2B as it links professionals and companies together. But this may not always be the case.

Ultimately, it’s probably best to have a multiple platforms of online channels to communicate and engage with your customers as all their needs and their choices in types of social media will differ and you will only be reducing your potential market size by not partaking in particular social media channels. Having said that, this probably only applies to the top four platforms (mentioned above), some social media sites such as Pinterest and Instagram are probably way more relevant to B2C marketers in certain industries i.e. Fashion and Retail.

References:

Forbes. (2014). 7 Steps to Productive Business Use of Social Media. Available: http://www.forbes.com/sites/martinzwilling/2013/08/17/7-steps-to-productive-business-use-of-social-media/. Last accessed 01/06/2014.

HBR - Harvard Business Review. (2014). the New Conversation: taking Social Media from talk to action. Available: http://hbr.org/hbrg-main/resources/pdfs/comm/sas/16203-hbr-sas-report-r3.pdf. Last accessed 02/06/2014

Brighton – Digital Marketing Hub?

Brighton has slowly developed itself into a most cosmopolitan and tolerant community. The expansion of the student population has brought a highly skilled workforce for local businesses. Its proximity to London and small city seaside town vibe is attracting many hi-tech start-ups.  

One Brighton firm has attracted much attention throughout the news, DC storm who have just signed a deal the Japanese equivalent of Amazon and the 3^rd biggest online retailer in the world. DC Storm have spent the last decade developing a software which tracks consumer spending habits online and now has plans to undertake a global expansion (BBC, 2014)

However, the market is becoming saturated, with many competing firms in the market. Although brighton is becoming a hub for digital marketing, a search for ‘Brighton Digital Marketing’ brings up many different companies all offering similar services without much differentiation. So how do they compete? And how to companies choose which company to go for? Companies are now even opting to just employ their own in house Digital Marketing Executive who will simply run all the facets required, further decreasing the need for these Digital Marketing Specialist Companies. Also many decision makers are convinced they know enough about social media and emails to conduct the digital marketing themselves and save costs, but these attempts are often pointless and do little for the business other than slightly increasing online presence.

To the Student Population, Brighton University offers many courses which are perfect for these employers. Digital Marketers are looking for young, knowledgeable characters with outstanding writing skills. With courses such as Digital Media, Digital Development and Digital Design as well as business and marketing graduates specialising with module options such as Digital Marketing and E-Commerce, making the city a breeding ground for the ideal entry level workers for these Digital companies.

Brighton is even holding a Digital Marketing Festival which is back due to popular demand, with keynotes and workshops. It has been described as a “well organised event facilitating local marketing specialists to network, gather new ideas and explore new strategies to benefit their companies”. It even includes guest speakers from the Body Shop and is hosted by Brighton based email marketing specialists Pure 360 as well as other Marketing specialists from other well-known brands. (BDMF, 2014)

 

References:

BBC. (2014). Brighton 'set to become digital marketing hub?'. Available: http://www.bbc.co.uk/news/uk-england-sussex-27639419. Last accessed 02/06/2014

BDMF. (2014). Brighton Digital Marketing Festival. Available: http://www.brightondigitalmarketing.com/. Last accessed 02/06/2014

Digital Marketing in Developing Nations

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Cross Cultural Marketing - High and Low Context Cultures

Globalisation has led to a “shift towards a more integrated and interdependent world economy” (Hill, 2012). As companies expand from National to Multinational and even into Global Corporations, we must have a further understanding of how to market products ‘in context’ to personalise messages to different countries and regions. All size businesses are looking to expand overseas as it provides benefits such as “Spreading risk across different regions” (Haberberg and Rieple, 2008) and opportunity to benefit from economies of scale due to the increase in users which equates to larger financial benefits. Many businesses are simply partaking in ‘Herd Mentality’ following similar businesses who have had success in overseas markets. This may cause issues due to company’s insufficient knowledge of the market and trading in an unfamiliar environment. 

Phrases or words in one language usually have a precise or implied meaning, the understanding of this meaning may only be grasped by someone from that culture. Messages may also be passed on through “gestures, gesticulations or attitudes”, which can cause problems for companies attempting to expand into unknown markets.

There are two types of context cultures: High and Low Context. Learning Economies suggest that knowledge is the crucial resource and learning is the most important process. It is therefore essential that companies with a current or future global strategy incorporate education about different types of context cultures in order to engage in business overseas.

Low Context Cultures: (Germanic/Scandinavian/North American)

“The Swiss have a reputation for speaking literally with explicit messages and low context” (Usunier, 2009). Information expressed explicitly, to be taken literally without any hidden meaning.

High Context Cultures: (Asia, Latin America and Middle East)

Information is transmitted in the physical context or internalized in the person, very little is transmitted through explicit coded messages. According to Hall (1976) “In HC culture the meaning signalled via an individual’s actions or in the dialogue during interpersonal communication is implicit.”

The internet allows Marketers to customise information to target each differing culture. In a non-verbal culture the use of viral video marketing can be very effective as it can cancel out the use of language to convey the message, to convey personal attributes to each culture, i.e. the use of the colour blue in English culture signifies sadness, whereas in Japan it represents hope and wisdom. Companies can build a bond with countries by understanding and using their symbolism in their advertising.

Companies should consider Usunier’s Contextual Continuum of differing cultures and study the market they are currently in or planning to enter, to see what adaptations they may need to apply to their products and marketing strategy in order to achieve success in the market.

References:

Haberberg, A & Rieple, A (2008) Strategic Management: Theory and Application. New York: Oxford University Press, p. 515

Hill, Charles W.L (2007): International Business. Competing in the Global Marketplace International, 6th Ed., New York: McGraw-Hill. 

Usunier, J & Lee, J (2009). Marketing Across Cultures . 5th ed. Essex: Pearson Education Ltd. 

Usunier, J.C. (2005) International Marketing, Harlow, Pearson Education

4 Steps to Social Media Marketing

4 Steps to Social Media Marketing

 

Content Marketing is any marketing format that involves the creation and sharing of media and publishing content in order to acquire customers. In this new world of online sharing, creative interactive media and reviews accompanied with an increase in competition in almost every sector, consumers feel they have a choice on who to buy from. The way to win the hearts and minds of the masses is to provide the best content, so that your target market will want to hear what you have to say. Content marketing has one major platform...Social Media!

 

Upside Down Iceberg, a social media marketing firm, put out a YouTube video explaining how to do social media marketing, they suggested a 4 step method which I think is a great start to providing quality content and managing it well:

 

1. Find people who are interested: join social media groups, like and follow related products and if your interested in it surely you must know other people who are?

- These people now KNOW you

 

2. Deliver Quality Content:

- Share your idea, vision and philosophy

- Share relevant content in the form or articles, photos and videos

- Get your friends to share it.

- If people like your content and your idea you can head to the next step, if not, treat it as market research and formulate your product into something they do want!

- They now LIKE you

 

3. Capture Information:

- Get them to like you, follow you, add you to every social media channel at your disposal (Share and like competitions)

- Ask for their Emails, and promise no spam of sales material, only quality content!

- Do not spam your customers, you don't want to annoy them! Why not send them one or two emails with content you have tailored personally from them, attempt to customise your product to them based on what you know about them! (e.g. assess their Facebook likes)

- They TRUST you!

 

4. Stay in Touch:

- Reply to all your social media channels quickly, 24/7!

- Continue to create content and invite these people to share and like this content

- Customer retention is far easier than obtaining new customers

 

So now you target market knows, you likes you and trusts you, and your staying in touch with them...as long as you also provide a good service and don't spam them, they will most certainly give you good reviews. They will recommend to friends and share their reviews on Facebook, and you will obtain new customers through word of mouth. Sound good?

 

Do not be fooled...you do not make money from Social Media! If anything it is a Sunk Cost in regards to the time, effort and even money you may spend on Social Media Marketing.

 

However, Business deals are done with people who know, like and trust one another. Social Media is an investment that many businesses are now making, in order to follow the trend, but many of them are unaware of how to use these platforms, and so they are simply sinking money into a cause which gives them no benefit. Businesses do not see a direct relationship from increases in social media use to increased sales. However, by following this 4 step method, businesses will increase their Brand Awareness! When people know you are there, they will come to you and seek business when they are ready, its essentially a soft sell.

 

 

 

Digital Trends 2014: a report from Adobe

Adobe – Digital Trends 2014: http://success.adobe.com/en/uk/programs/products/digitalmarketing/1401-30364-econsultancy-digital-trends.html?s_cid=701a0000002IXUMAA4&s_iid=701a0000002ILMVAA4

 

This report was carried out to analyse the “trends, challenges and opportunities” faced by Marketers for 2014. As marketers are switching to predominantly online methods of marketing are platforms, such as Telesales, now obsolete?

20% of the correspondents think that the most exciting opportunity of 2014 is Customer Experience, ahead of Mobile (18%) and Content Marketing (15%). Customer Experience can include awareness, discovery, attraction, interaction, purchase and use of product. Companies must strive to set themselves apart from their competitors and in the eyes of the customers they serve by delivering an experience which will result in an increase in consumer spending, and thus inspire Brand Loyalty.

"Loyalty is now driven primarily by a company’s interaction with its customers and how well it delivers on their wants and needs” (Sebor, 2008)

However, in the world of B2B marketing, Content is King! ‘Content Marketing’ is the most recent marketing method companies are adopting, which may be due to the Social Media world, where content is everything. Getting people to first know you, then ‘like’ you, then trust you, so they will buy from you, is hard enough in person, but with so many differing opinions and the absence of a face to face meet or phone call, content is all the companies have to play with. The proliferation of new technologies has given these companies more freedom to construct effective, responsive content marketing strategies that will actually drive sales! This accompanied with a wide range of payment methods and the ever easing online transactions, which are now accessible by smart phone have driven sales right up, in both the B2B and B2C markets. “B2B marketers who have a documented strategy are more effective and less challenged with every aspect of content marketing” (Pulizzi, 2013)

Mobile Marketing is trending as the most important opportunity for B2C marketers. According to a separate study by eMarketer, “almost half of B2C marketers (46%) are using mobile content and 39% are using mobile apps” (Beechler, 2013). As smart phones become more affordable and widely available, global mobile users are increasing rapidly. eMarketer estimates world users will total 1.75 billion in 2014, which nearly two fifths of the total mobile users globally, and this will continue to rise following growth in Asia Pacific, Middle East and Africa (eMarketer, 2014). Marketers have caught onto this growth and are continually trying to improve their mobile usability. Natwest and Barclays bank have both opened their own apps where customers can transfer money from their phone, pay for bills and access and view their account, creating an enormous ease of use. One which my bank HSBC has yet to do!

One interesting point highlighted in the Adobe report was that only 23% of marketers feel they have the necessary marketing technology they need to succeed in today’s market. The market is changing so fast that maybe some companies do not want to jump on the bandwagon too quickly as investment into say content marketing, which is currently trending, may be overtaken by the next best thing in the near future. However, businesses have to move with the times and adapt to changing market technologies as and when they happen in order to survive, those who do will come out the other end, having spent ridiculous amounts on their marketing budgets, which they do not see directly turn into sales. But the long term effects on revenue will ensure long term sustainability and customer loyalty.

 

Beechler. (2013). 13 Biggest Trends in B2C Content Marketing and Social Media for 2013. Available: http://www.exacttarget.com/blog/13-biggest-trends-in-b2c-content-marketing-and-social-media-for-2013/. Last accessed 29/04/2014.

eMarketer. (2014). Smartphone Users Worldwide Will Total 1.75 Billion in 2014. Available: http://www.emarketer.com/Article/Smartphone-Users-Worldwide-Will-Total-175-Billion-2014/1010536. Last accessed 29/04/2014.

Pulizzi, J. (2013). 2014 B2B Content Marketing Research: Strategy is Key to Effectiveness. Available: http://contentmarketinginstitute.com/2013/10/2014-b2b-content-marketing-research/. Last accessed 29/04/2014

Sebor, J. (2008). CRM Gets Serious. Available: http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/CRM-Gets-Serious-46971.aspx. Last accessed 29/04/2014.

Easyjet – Email Marketing

I booked a flight to Morocco, received the confirmation then received this as a follow up. I have been given the option of hiring a car, booking my transport around the country and it has a link to book to see some tourist attractions. Each section, is linked to a website where it is possible to book your desired ‘extra’.

While I know I won’t be using any of these services, I do appreciate what Easyjet are trying to do; that is make more money by teaming up with other related business’ and taking a cut. 

However, I would also say that by providing this service they have personalised their message by acknowledging my destination and so have anticipated that I may want to ride camels in the desert and so have included a picture, and a link to do so. This is a great example of ensuring high quality of service, as Easyjet want people to have a good holiday so that they are reflected well. They will only use the best companies so as not to damage their reputation.

I have used Easyjet many times, and unlike their main competitor Ryanair, I find their marketing not too aggressive. I still use Ryanair if Easyjet or other companies cannot beat their prices. For me it is not a matter of comfort. It’s a plane, its not going to be terribly comfortable. I want to get on and off as quickly as possible, without being pestered by staff, or being charged ridiculous prices!

When you book with Ryanair online, you are offered many extras, and have to click no for each one, this gets tedious and boring and has deterred me from using them unless they are the cheapest. But for example if Easyjets flight was £50 and Ryanairs was £48, I would probably just use Easyjet as I prefer their service.

Ryanair also bombard you with emails, Easyjet simply send you a confirmation and a couple of updates. Neither of these compares to BA but you usually pay a premium for BA’s service.

The colour scheme also has an effect on me. I feel the notorious orange of Easyjet has a softer feel to it, related to relaxation, the sun, the beach and goes well with their name ‘Easyjet’. Ryanair’s colour scheme, with the blue and yellow seems very harsh and reminds me of the interior of their planes which are plastic and cheap looking.