Major social media platforms offer advertisers the opportunity to reach many consumers. Facebook, for example, claimed to have 3 billion active monthly users in January 2023 - more than one third of the world’s population. Social platforms can be used in several ways...
PAID-FOR ADVERTISING This works like other paid-for media channels. You select your audience profile and pay for your posts to be exposed as people browse their content feeds, regardless of whether they follow you. These are known as sponsored posts. You need to bear in mind that exposure durations are typically short - about one or two seconds. People tend to scroll quickly past most of the ads, looking for posts from their friends and family. Using videos that were created with TV in mind are rarely effective. Paid-for social advertising works best when your objective is to keep your brand at the top of people’s minds so that they are more likely to choose it when they next buy the category. Famous brands with well-established distinctive assets (see Chapter 6) have an advantage since they can jog people’s memories within seconds by featuring their assets early on during the ad. Other brands need to find a way to hook people in within the first few seconds, so they watch the ads for long enough to convey the brand and something memorable about it. New ways of using social media to sell products are continually emerging. 'Social Commerce’ combines social media and e-commerce. If an Instagram user likes the look of a pair of sunglasses worn by a model in a post, they can click on it, learn more about the item and buy it without leaving the platform. Social media marketplaces allow users to buy and sell products using a platform managed by the social media provider. Social media storefronts enable businesses to set up their own online stores through which to sell directly to consumers. INFLUENCER PARTNERSHIPS If there are influencers that have built a large following on social media by talking about a topic that relates to your brand, there may be an opportunity to partner with them. Collaborations with influencers helps to build credibility and interest among 'early adopters’, who can help to spread positive word of mouth to other consumers. USING FOLLOWERS TO SPREAD NEWS You can use your social channels to share news related to your brand. For example, you can publish stories designed to enhance your brand’s reputation or to announce a product launch or promotion. In most cases, the coverage will be small compared to other PR and paid-for advertising vehicles. If, however, your brand has a large following and people are interested in the category, the free coverage can be significant (e.g., Apple or Tesla/Elon Musk). GETTING FEEDBACK FROM FOLLOWERS Your social media followers tend to be fans of your brand. Listening to their comments and asking them questions about existing or future products is a good source of information and inspiration. Remember, however, that the attitudes and preferences of your followers will not necessarily represent those of your wider target audience. |