Investing in social media can cost as much as you’re willing to pay. You have to figure out how much you’re wanting to spend overall; working backwards from there. Allocate an advertising budget and work it around the goals you’ve set for 2019. A goal-orientated budget gives a clearer picture and overall direction to advertising strategy. The New Year’s fast approaching. Therefore, we recommend segmenting the budget into three categories to see how much it’ll cost to reach your goals. Let’s discuss them! For further discussion on these points, contact Momentum Social.
Building a community is key across social media. For instance, Facebook and Twitter have campaign structures designed to improve like/follower count. If this is inline with your goals, determine your cost per follower by dividing amount spent by amount gained. Then, you can get an idea of the future expenses. Do this by taking your anticipated budget and divide that by your cost per follower figure to get projected followers gained.
More engagement means more awareness for your brand. However, the content people see depends on the platform’s algorithm. Control who sees your content. Spend some of your budget targeting an audience. Audit previous campaigns and take a look at the figures. This will determine your cost per engagement. You can then figure out how much you need overall for your future campaign. Do this by taking your average cost per engagement and multiply by target engagements. The result will be your ideal budget.
Social media is a cost-effective way to drive traffic to your website. Click campaigns are easy to implement. Simple click CTA’s guide people to your website link. Again, audit previous data and take a look at your average cost per click. Then multiply it by desired target visits. The result will be the ideal budget to reach your goal. Moreover, conversion rates are helpful when aiming for bottom-line impact. So take a look at the website conversation rates in your analytics if you need to account for them.
There are a few sums to do. However, following this guide will help you create an ideal advertising strategy. Segment your budget, aligned with community growth, ad engagement and website traffic. Segmenting the budget, inline with 2019’s goals will help paint a clearer picture, giving better direction to your overall strategy.
Stay ahead of the curve with #MomentousMondays. For further discussion on advertising strategy heading into the New Year, get in touch with the Momentum Social team.
Engaging the consumer is tricky; attention spans vary depending on the audience and platform. Marketers are constantly looking to deliver maximum ROI from their content, in the shortest space of time. Therefore, we’ve seen bite-sized content making its debut around 2 years ago with the likes of vine videos, YouTube bumper content and later, platforms such as Snapchat and Instagram stories. In order to monetise this, platforms commit to ‘non-skippable’ shorter ads. Even Facebook now offers free video templates on ads manager to encourage the use of free 6-second videos over photos. So, is short-form video the future?
The leading avenue for creative engagement?
Audience attention spans are decreasing. Everyone’s looking for that ‘skip ad’ button, swiping away ASAP; getting back to their original activity. There’s more chance of keeping the audience tuned in with 6-second ads. However, KPI’s such as product/service sales are increasingly difficult to attain in such short spaces time. Netflix have announced they’re trying skippable ads, interrupting the watch-binge to promote stuff. So, let’s see how that goes!
Regardless of length, it’s possible to retain the audience if the content has a certain level of compassion. Ergo the need and ever growing importance of story telling. Advertising through influence, creating a narrative in shorter time frames seeks to fully engage viewers. 10 secs is the suggested peak of advert engagement, with up to 30 secs optimal viewing time. A study by ComScore last year found 5-6 seconds to be the prime engagement length for millennials and Gen Z. Shorter viewing periods thus being essential, due to the amount of time they spend online.
Bound for success; the way forward?
Google reports our attention spans are shrinking. A study conducted in 2018 found only a 38% average recall across 600 marketing campaigns. However, it’s argued our attention is becoming less like a span and more like a muscle, trained to filter unattractive content due to the sheer quantity of it; ready to skip and scroll at the first sign of disinterest.
There isn’t a ‘correct’ length or format for adverts. 6-second ads have their benefits and drawbacks. They’re short, targeted, single-minded brand messages with a clear focus. Comparatively, they lose storytelling value, a potential eye worm and a pop-up useless reminder. They succeed in a mix of multiple media, not as a sole piece. Deemed as the ‘future of advertising’, we don’t think so. Rather a method to bolster a campaign as a whole, with hyper-short content.
6-second videos are certainly something to consider. But it’s important to know your audience and target content accordingly across the each platform. Produce and testbed content within that audience’ engagement profile and see improvements in marketing KPI’s.
Have video strategies to propose? For more information on content creation and advertising strategy, contact the Momentum Social team.
The 2018 world cup is well underway; with an unusually enthralling start for the three lions. Giving hope to fans and sending the nation into song. There’s true belief that football is finally coming home; celebrations for many, however disappointment for some unexpected candidates… ‘Auf Wiedersehen’ as they say.
The biggest ad platform on the planet
Dubbed as the biggest sporting stage on the planet; The 2018 World Cup hosts some of the greatest athletes to have ever laced a boot. However, it also provides the platform for promoting the world’s biggest brands; Budweiser, Gazprom, Coca-Cola to name a few. While Cristiano Ronaldo, Lionel Messi and Harry Kane are the driving forces behind their respective team’s success. Comparatively, big brands are using trend-jacking and clever tagging to reach their own advertising goals. So, as the last 16 commences, we marketers take a look at the driving force behind online brand marketing success.
Traditional marketing vs. Digital media
The World Cup is estimated to inject a massive £1.8bn into the £439bn global ad market; with brands using the power of social media to engage the tournaments ‘younger’ audience. In fact, the boost in traffic is so big it effects all means of media; traditional and online. However, according to research; an estimated 40% of viewers are asleep when games are aired. Therefore, these consumers seek alternative means of engaging with the tournament. As a result, we see far higher traffic on social media and online viewing platforms such as YouTube, which in turn boosts ad revenue and online ROI.
The World Cup; a golden opportunity?
Companies of all sizes can take full advantage of the increased social media traffic, as long as they play by the rules. According to the GM of Global Football at New Balance; ‘hundreds of brands activate outside primary sponsorship, so clearly there is a benefit otherwise they wouldn’t be doing it’. However, brands who aren’t official partners must be careful when associating themselves with the World Cup. As intellectual property laws and profiting from unofficial association carries a hefty fine. Although, that doesn’t mean you can’t hashtag key words such as football, tag the countries who are causing a stir, or jump on trending topics…
Here’s a few examples:
Profiting from tournament traffic boils down to the strategy you adopt as a brand. Here’s a few examples of how companies have increased their media momentum:
- Telemundo – Launch of VR app allowing fans to see games via multiple-angle clips / 180-360-short-form video content
- Fox Sports – Airing of ‘100 most memorable FIFA World Cup moments’ via social media channels
- Game-on – Facebook World Cup competition. Like the post and comment with your predictions of the score and goal scorers and receive money off vouchers in stores
The World Cup is an opportunity for all brands to build social media engagement through legal association and conversation; don’t pass up the golden opportunity to implement some creative trend jacking!
Follow Momentum Social for more digital media mastery.
Blogging has become increasingly popular and interlinked with the rise of influencer marketing. Thousands of people benefit personally, professionally and financially by having a blog. Plus, it’s not just for business, plenty of people simply use a blog or website to maintain a personal journal or tell a story. If you’re thinking of starting a blog, Momentum have put together a few points to outline the value.
Improving your writing
Blogging is about communication, it won’t force you to become a better writer. However, you will naturally improve as you start writing regularly. Becoming a better copywriter has many advantages, it allows you to express yourself better in both professional and personal capacities. Furthermore, becoming a better writer will also shape you into a better thinker. Giving you the ability to think with more structure and assess things at a deeper level.
Attracting an audience
A blog is an effective way to establish yourself as an expert in a particular field. This allows the opportunity to help people who may be searching the internet for advice. In order to start building this community it’s important to make sure your blog is searchable, improve SEO by using keywords and filling in all of the meta descriptions. Then, use social media to create backlinks and drive traffic to your articles.
Meeting new people
The great thing about blogging is it brings like-minded people together. It’s much easier to foster professional relationships and even friendships through shared interests, especially if those interests are niche. Don’t be afraid to show the world who you are in your blog, it may generate some surprising results.
As the size and engagement of your blog increases, so do the opportunities. There’s a direct correlation between the amount of people who consume and engage with your content and the amount of opportunities you will benefit from as a blogger. Whether it’s invitations to cover events, free trips away or products to review. Thousands of people are already benefiting in the UK alone, many of which still have a full-time job and simply blog in their spare time. The key is writing little and often; post daily on social media and weekly on a blog to get started.
Monetising your blog
As influencer marketing grows in popularity, so does the opportunity to make money. A blog can quickly become an excellent passive income, or even full-time job depending on the size of the audience and level of engagement. The key is to write honest and engaging reviews of products or services associated with your niche. For instance, many travel bloggers also review camera equipment, summer clothing and electricals such as headphones on top of hotels and locations. For this reason, the more cross-promotion you can do, the bigger the potential income.
Stay in the loop, follow Momentum Social.
Amazon founder Jeff Bazos is currently the world’s richest man with a staggering net worth of over $105 billion. Due to Amazon’s rocketing share price, what began as an unprofitable online shop, has grown into a tech behemoth. With world-beating distribution channels, a search engine to rival Google and growing advertising platform. So, how scared should the other networks and digital businesses be?
In 2017, digital advertising became a $209 billion global business, with experts predicting a further 13% growth in 2018. The US are by far the biggest digital advertisers with over $80 billion spent annually. In terms of the market, Amazon are predicted to be the fifth-largest advertiser. However, they only occupy around 2% of the total market, with Facebook and Google taking home 70% between them. There’s a clear duopoly in ad-land, which doesn’t look like changing any time soon. However, Amazon could cause disruption by opening up its sheer number of detailed insights to advertisers, quickly adding a third, highly competitive ad platform to the market.
How does it work?
Amazon have allowed sellers so use ‘sponsored posts’ and do PPC ads since 2012, this ensures the product is at the top of certain keyword searches. However, Amazon is becoming so much more than an online shop. It’s one of most highly-trafficked websites on the internet, a place to buy, sell, research and read reviews. The research and review element is key, According to Amazon 56% of all internet product searches go through their site. It’s essentially becoming the Google of consumer product searches, which is more than enough to prick up the ears of any advertiser.
Bespoke ad content
The natural decision for Amazon was to turn to its partners and marketing team to work out a way to support bespoke ad creation on the platform. Most recently developing video and mobile friendly advertising capabilities to companies and publishers who can afford it. As with any trial, this will eventually be made available to small businesses too. Amazon are a necessary evil in the advertising industry, keeping the big players honest and shaking up a highly-controlled space. Watch out everyone, this is going to be game changing.
Enjoyed this blog? Why not read about how chatbots could revolutionise your business?
Stay in the loop with Momentum Social.