Are you worried about managing your social media channels? Umm…I understand the heaviness of handling your digital marketing and managing social media platforms isn’t for sure a cakewalk. Figure out in brief about social media marketing, which will help you grow your ecommerce sales and ecommerce business.
Before jumping onto the explanations, definitions, types and benefits, I like to ask you a question. What really brings you here? You have to figure out what you are looking and then only you will get the answer.
So let me tell you, that this blog gives an insight into the social media platforms like how it works, how they have grown over the years and how entertaining platform evolved into marketing. Some strategies that will work to have an engaging social channel. So, come on let’s dive into the most beautiful and colourful blog you will ever see.
What does this social media do?
Actually, it attracts, like a flower that attracts a bee. Masses of people pour online, looking out for any piece of information, idea and entertainment. The reason why it has become so much of an obsession is that there are plenty of options available. And that too in your hands. Having this as an advantage, the marketing retailers shifted their promotion and advertising to social channels and the result? It was tremendous.
Social Media Marketing (SMM) is using the social media channels like Facebook, Instagram, YouTube, Twitter, Pinterest, Podcast and Snapchat. By using these tools as a marketing platform to reach the audience. The impact and response are collectively more than conventional marketing and it also increases traffic.
Growth over the years
Since the internet came in, the evolution of the users and the technology is mind-blowing. And then social apps were introduced to increase social networking. Facebook, Instagram, YouTube, Snapchat and every channel of social media were invented with the motive to share pictures, lifestyle and information, make connections and have more friends.
But over the past years, it has outgrown the motive of entertainment and connecting. The users started to make content to promote their brands, the reach was huge and the companies had more revenue growth. Many users received paid partnerships for promoting their brands. So, this is how marketing entered social media marketing.
Data Analysis for Social Media Marketing
With the help of data analysis, marketers can calculate their efforts and success. It is important to calculate your data, so it will help you find new followers, comments, reach, insights and much more. Gathering the data monthly once will help you notice the audience’s likes, dislikes and posts which got more interest and which doesn’t. So, over time, you will get to know:
- Your audience
- The most used social media platform by the audience
- The content which has got the interest of the audience
Metrics to Calculate the Social Media Marketing
Now, that you have known about the importance of data analysis for Social Media Marketing. Get to know the metrics to calculate the data from the social media platforms. So, the most important social media metrics are:
Reach is the number of customers who visit and have a look at the post you have made. It will also show the number of followers and non-followers.
Impressions may have a higher count than the reach. It means that it was seen multiple times.
3. Audience growth
The audience growth can be measured by the number of followers. Add the total number of audience month-wise to see the difference.
4. Engagement rate
It means the number of reaches, impressions and comments your post has made. That is the engagement of the post with the audience.
5. Amplification rate
The number of shares your post has made can be calculated by this method. Calculate the number of shares divided by the total number of followers. Multiply it by a hundred to get the application rate in numbers.
6. Virality rate
It is the same as the amplification rate. But it calculates the number of impressions to know the virality rate. To calculate, the total number of impressions divided by the total number of followers. Then multiply it by a hundred to know the virality rate.
7. Video views
This will show the number of views the video gets. It will show the number of people who started to watch the video. A good number of video views will indicate more reach.
8. Video completion rate
The number of people who start to video can’t be the same as who completes it. So, in order to increase the completion rate, make the videos compelling and engaging.
9. Customer satisfaction score
It determines the customer’s satisfaction with your content and brand. This will be a straight question to the customer, to rate their experience. And that’s how they determine the customer satisfaction score.
10. Net promoter score
This calculates the customer’s loyalty. This can be done by asking to rate them from zero to ten.
11. Click through the rate
This shows the number of clicks the post has received. It also shows how the post has reached the audience.
12. Conversion rate
Conversion rate calculates how social media post or reels or videos has changed. Like the increase in followers, subscription rate, shares, downloads and much more.
13. Cost per click
You get paid for the click the audience engages with the post you have made through the social media platforms.
14. Cost per thousand impressions
As the name denotes you get paid for every thousand impressions.
15. Social share of voice
It shows how well your brand is spoken, about in the world. On social platforms, it can be done directly by mentioning your id example “I had @Maggi yesterday…” or it can be an indirect example “I had Maggi yesterday…” You can see the difference between these types in how the social share of voice is.
16. Social sentiment
This calculates the positives and negatives that are thrown upon your content and brand.
So, these are some metrics to calculate your data for your social media marketing. There are tools available online to calculate these metrics.
Implementing the Data
Get to know how to collect the data for the analysis with the help of this table.
|Create a spreadsheet||Have a column for each social media platform|
|Give the details||From each of the applications|
|Input the data||Every month|
|Text or numbers in green||For increased value|
|Text or numbers in red||For decreased value|
|Evaluate the data separately||For the one which has been steady, declined and increased over the time|
|Collect data for a year||To know the one which works, which remains stagnant, which doesn’t work|
|Make an action plan||For the things that need improvement|
|Get help from the social media marketing team||Will give ideas and strategies to develop the interactions on these platforms which will increase your revenue|
Strategies to Grow Your Social Media Marketing
Here are some strategies and steps which will help you grow your business in this social media marketing. They are:
1. Have relevant and realistic goals
In social media marketing, you do need to have some goals that are to meet in a month or six months. This will help you to sail your business in the right direction.
2. Decide your audience
With money, you can increase your followers. But that isn’t the goal. You must have more followers, I agree. But great in numbers alone won’t be sufficient. So, decide who your audiences are. Be loyal and trustworthy with them.
3. Know your competitor’s strategy
Yes, you read that correctly. Do research on how your competitor shines well. Get to know the strategy, optimise and customise according to your business and implement it.
4. Plan the budget
Obviously, there are people who go to extreme limits in order to promote their brand. But the result won’t is as expected. So, be realistic, plan the budget and try to stick to it.
5. Plan the contents
Spontaneous is fun. But this doesn’t work with marketing. Plan the content, write a script, edit, voice over, animations, filter, effects, captions, taglines and much more.
6. Set the pace properly
You will be in a hurry to post all the details at a stretch. But that is not how it works. Create your accounts and give proper details. Plan the time and the content you are going to post.
7. Create a content calendar
As much as how important the time is, so is the content calendar. Prepare the content ideas and prepare a calendar with a note. Make note or reminder on which content should be posted on this day, week or whatever.
These are some steps and strategies that will help your social media marketing. Try all these and you will see the results in some period of time.
The Future of Social Media Marketing
Success requires staying ahead of the curve in the dynamic world of social media. But what does social media marketing’s future hold? Let’s look at it.
1. Complexity will increase
Social media marketing tactics will surely lead to complexity. While certain platforms will become more popular, others will become less useful. For instance, Facebook has already experienced a noticeable levelling off in usage.
For businesses to be successful, channel strategies will need to be revisited in order to assess the success of sponsored social and organic efforts.
2. Personalization will increase
Personalization is key to the success of social media marketing in the future. Social media platforms were mostly used in the past to spread messages to a wider audience.
For instance, Facebook has long employed AI to individually tailor each user’s newsfeed. Users will therefore see more of the stuff in which they are interested and less of the content in which they have no interest. Social media marketing will consequently become more focused and, ideally, more efficient.
Future social media platforms will also be more participatory, with tools that motivate users to communicate with one another and discover more of the content they enjoy. In order to construct a distinctive brand on social media, excellent community management and content development rooted in audience insights will likely be essential. This will provide brands with the chance to connect with their customers on a more personal level.
3. Engagement will increase
For social media marketers, engagement has always been a crucial indicator. However, this has led many marketers to seek more performance-based metrics, including website traffic, conversion and attributed sales via social media, as a result of the rise of sponsored social media.
Social media networks will start turning back to the metrics that can be recorded on the platform as a result of the most recent improvements to iOS privacy features.
Marketers will be able to target those who have interacted with a brand’s content by creating engaged audience profiles. This might assist in guiding consumers in a new, perhaps engaging direction down a selling process.
4. Video-based content will increase
Video-based feeds are becoming more and more common as social media marketing changes. It will be challenging to have your content seen by the individuals who are most likely to be interested in it given the high cost of video production and the increased number of businesses seeking attention. Concentrating on videos made by creators is one strategy for overcoming this obstacle.
5. Influencers will increase
It’s undeniable that influencers may be very successful at reaching new audiences, marketing goods or services and creating social content that is appropriate for social platforms. Though some businesses are afraid to collaborate with them.
Having said that, influencers will keep playing a significant role in social media marketing. Influencers will help brands reach their target markets and produce educational, entertaining, and inspirational content.
Influencers are here to stay in the social media age. Businesses will be well-positioned for success in the future if they accept this reality and work to use influencers as content producers.
6. Many social platforms but with a single voice
Today’s brands are expanding the platforms where they invest in social media. This means that social media marketing is more successful when it is distributed across multiple channels. Brands may expand their audience while increasing the effectiveness of their social media marketing campaigns.
Although this might be the case, it’s vital to remember that platform diversification has its own set of difficulties. The necessity to maintain a consistent voice across all channels and the challenge of calculating return on investment are two examples of this. Therefore, before making any decisions, brands must carefully examine whether platform diversification is the best strategy for them.
7. A change but not an end
The social media ecosystem will always change and evolve. But it won’t be the end. New platforms will appear, old ones will try to rebrand themselves and platforms will come and go. Marketers will need to stay flexible and keep making adjustments to the environment’s constant change. They will need to test out several platforms to determine which ones are most effective for their audience and brand. Brands can make sure they’re using social media as effectively as possible by staying ahead of the curve.
All these attributes make social media marketing a great place to grow your business. Always have a plan and stick to it. Enhance and grow your business with the tools, metrics and analysis. You have already done the tougher part, some modifications and optimisation will your social media marketing a great success.
If you find this article interesting like it and share it with your friends who might find this article helpful. And don’t forget to subscribe and follow Ecom News for getting more details on ecommerce.
What are the types of Social Media Marketing?
Social networking, image posts, video posts, blogging and interactive media. These five are the types of social media marketing.
What are the benefits of social media marketing?
Brand awareness, connection with the audience, more sales and revenue growth. These are the beneficial factors of social media marketing.
Examples of social media marketing.
Facebook, YouTube, Instagram, Snapchat, Twitter and much more are some examples.