Social Media Marketing: Ready, Aim, Fire
(Sourced from Search Engine Journal, 2021)
Ready: Social Media as a Marketing Tool
Social media can be a key marketing tool for any organization. Consumers can learn about new brands, discover new products, interact directly with brands, and are more willing to buy from brands due to their experiences on social media (Cover, 2021). The key to mastering social media participation is fully understanding the consumer target market. By doing so, companies can effectively identify which platforms and what types of content are most effective. Through the use of platforms and content with the highest engagement from high-value consumers, companies can reach and appeal to a larger portion of their target market.
When deciding which platform to use, having multiple social media accounts is essential to the success of a company. According to Business.com, “Unless you know without a doubt that your audience uses one social media website, you can't depend on reaching your entire target demographic by just joining one networking site” (2020). Although it is important to understand what platform is used most by a target audience, it is ineffective to put all focus into one platform. Prioritizing one social media platform above all others could potentially lead to missed opportunities for developing effective connections with consumers on other platforms.
Social media can be a key marketing tool for any organization. Consumers can learn about new brands, discover new products, interact directly with brands, and are more willing to buy from brands due to their experiences on social media (Cover, 2021). The key to mastering social media participation is fully understanding the consumer target market. By doing so, companies can effectively identify which platforms and what types of content are most effective. Through the use of platforms and content with the highest engagement from high-value consumers, companies can reach and appeal to a larger portion of their target market.
When deciding which platform to use, having multiple social media accounts is essential to the success of a company. According to Business.com, “Unless you know without a doubt that your audience uses one social media website, you can't depend on reaching your entire target demographic by just joining one networking site” (2020). Although it is important to understand what platform is used most by a target audience, it is ineffective to put all focus into one platform. Prioritizing one social media platform above all others could potentially lead to missed opportunities for developing effective connections with consumers on other platforms.
Aim: Defining Effective Platforms
In order to identify which platforms are best for a company, marketers must first identify their company’s target market. Demographic and psychographic data are extremely important to consider. Let’s use Starbucks as an example. According to Auerbach, “Starbucks’ primary customers consist of men and women aged 25 to 40 who are hip, contemporary and willing to shell out a few extra dollars for a specialty drink” (2017). Knowing this information, Starbucks can consider which platforms are most likely to reach the high-value consumers within this group.
(Sourced from Getty Images, n.d.)
Facebook is also the largest social media platform, so the potential reach is much larger than other platforms. In order to optimize this reach, Facebook ads and promoted posts are key to ensuring customers are exposed to brand content. Starbucks always promotes posts involving limited-time deals and offers, which in turn results in extremely high engagement and ROI (Ravi, 2018). In examining recent demographic data of Facebook’s 2.91 billion monthly users, 43% are female and 57% are male, and the largest user age group consists of 25-34 year olds which account for approximately 31.5% of the platform. (Barnhart, 2022). Starbucks’ target market of male and female 25-40 year olds aligns perfectly with the majority of Facebook users. With aligning markets and huge potential reach, Facebook is an extremely valuable platform that Starbucks can utilize to their advantage.
Instagram
Instagram is a heavily visual platform that relies on eye-catching images for engagement, including user-generated content. According to Adglow, “With many Instagrammers now taking images of their beautifully presented food and displaying it on their Instagram profiles, food has become a huge part of social networking… For these businesses, Instagram is more than a social network: it’s also an extremely powerful marketing tool which provides an extremely attractive level of exposure” (n.d.). A company like Starbucks can thrive on this platform with their “Instagrammable” handcrafted beverages, through their own media or through user-generated content. In examining recent demographic data of Instagram’s 2 billion monthly users, 48.4% are female and 51.8% are male, and the largest user age group consists of 25-34 year olds which account for approximately 31.2% of the platform. (Barnhart, 2022). Starbucks’ target market of trendy male and female 25-40 year olds aligns perfectly with the majority of Instagram users.
Twitter
According to Barnhart, “One-third of Twitter users are college-educated and make more than $75K annually, highlighting the platform’s highly-educated and high-earning base” (2022). Starbucks wants to reach consumers willing to spend more on specialty drinks, which account for a large portion of their revenues. If consumers are educated and in high-earning positions, they are able to afford these types of products and are more willing to spend money on special flavors, add-ins, and larger sizes. In examining recent demographic data of Twitter’s 211 million monthly users, 38.4% are female and 61.6% are male, and the largest user age group consists of 18-29 year olds which account for approximately 42% of the platform. (Barnhart, 2022). Starbucks’ target market of financially flexible male and female 25-40 year olds aligns perfectly with the majority of Twitter users. Twitter is also a great tool for customer relationship management and makes it easy for consumers to directly address the company regarding questions, comments, and concerns.
Instagram is a heavily visual platform that relies on eye-catching images for engagement, including user-generated content. According to Adglow, “With many Instagrammers now taking images of their beautifully presented food and displaying it on their Instagram profiles, food has become a huge part of social networking… For these businesses, Instagram is more than a social network: it’s also an extremely powerful marketing tool which provides an extremely attractive level of exposure” (n.d.). A company like Starbucks can thrive on this platform with their “Instagrammable” handcrafted beverages, through their own media or through user-generated content. In examining recent demographic data of Instagram’s 2 billion monthly users, 48.4% are female and 51.8% are male, and the largest user age group consists of 25-34 year olds which account for approximately 31.2% of the platform. (Barnhart, 2022). Starbucks’ target market of trendy male and female 25-40 year olds aligns perfectly with the majority of Instagram users.
According to Barnhart, “One-third of Twitter users are college-educated and make more than $75K annually, highlighting the platform’s highly-educated and high-earning base” (2022). Starbucks wants to reach consumers willing to spend more on specialty drinks, which account for a large portion of their revenues. If consumers are educated and in high-earning positions, they are able to afford these types of products and are more willing to spend money on special flavors, add-ins, and larger sizes. In examining recent demographic data of Twitter’s 211 million monthly users, 38.4% are female and 61.6% are male, and the largest user age group consists of 18-29 year olds which account for approximately 42% of the platform. (Barnhart, 2022). Starbucks’ target market of financially flexible male and female 25-40 year olds aligns perfectly with the majority of Twitter users. Twitter is also a great tool for customer relationship management and makes it easy for consumers to directly address the company regarding questions, comments, and concerns.
Fire: Allocating Resources and Developing Content
When executing social media campaigns across multiple channels, it is beneficial to establish a social media budget to determine how much to allocate for each channel. According to Cover, “Social media budgets aren’t limited to only the personnel who run your accounts or the time it takes to assemble posts. Budgets also include the software you use, content creation and production, advertising, training and paid partnerships” (2021). Companies must decide which platforms require the most resources based on their business goals and the potential ROI of each platform. For example, Starbucks has 36 million likes on Facebook, 17.7 million followers on Instagram, and 11 million followers on Twitter. To decide which platforms require more resources, Starbucks can analyze data from each platform through social media analytics tools such as Sprout Social, Hubspot, or Hootsuite in order to maximize potential ROI.
Content must be optimized for each platform in order to have the greatest impact. To ensure content is effective, “Determine the identity, character, and personality of the brand and match it to the persona of the individuals representing it online… Observe the behavioral cultures within each network and adjust your outreach accordingly” (Solis, 2010). Each platform provides a different online culture: Facebook is an interconnected community of friends, Instagram is all about trends and sharing, and Twitter encourages communication and conversation.
Although content is important, starting a conversation can leave a lasting impact on consumers. According to Novak, “Content without conversation is just broadcasting, or just advertising. It goes to the listener/reader/viewer/visitor... and stops there” (2010). Content that serves as a conversation starter can develop connections and make consumers feel like more than just a customer. That’s the goal of social media: to start conversations. This enriches the value of a brand beyond what simply broadcasting and advertising can accomplish. Ensuring that content is more meaningful than just selling a product can significantly improve a brand’s presence on social media.
References
Adglow. (n.d.). The growing trend of Instagrammable restaurants. Adglow. https://www.adglow.com/blog/the-growing-trend-of-instagrammable-restaurants
Auerbach, R. (2017, September 6). How to Reach Your Target Audience: A Lesson from Starbucks and #PSL. Stern Strategy Group. https://insights.sternstrategy.com/reach-target-audience-lesson/
Business.com. (2020, April 13). Multiple Social Media Accounts Is a Must. Business.com. https://www.business.com/articles/why-every-business-should-be-using-multiple-social-media-accounts/
Cover, L. (2021, June 17). 7 Stats That Prove the Importance of Social Media Marketing in Business. SproutSocial. https://sproutsocial.com/insights/importance-of-social-media-marketing-in-business/
Cover, L. (2021, October 12). What you need to know to create a social media budget. SproutSocial. https://sproutsocial.com/insights/social-media-budget/
Novak, C. (2010, July 27). Why Conversation, not Content, is King. Social Media Today. https://www.socialmediatoday.com/content/why-conversation-not-content-king
Ravi, K. (2018, March 28). 8 Ways Starbucks Creates an Enviable Social Media Strategy. UN Metric. https://blog.unmetric.com/starbucks-social-media-strategy
Solis, B. (2010, May 18). 21 Rules for Social Media Engagement. Mashable. https://mashable.com/archive/rules-social-media-engagment
Auerbach, R. (2017, September 6). How to Reach Your Target Audience: A Lesson from Starbucks and #PSL. Stern Strategy Group. https://insights.sternstrategy.com/reach-target-audience-lesson/
Business.com. (2020, April 13). Multiple Social Media Accounts Is a Must. Business.com. https://www.business.com/articles/why-every-business-should-be-using-multiple-social-media-accounts/
Cover, L. (2021, June 17). 7 Stats That Prove the Importance of Social Media Marketing in Business. SproutSocial. https://sproutsocial.com/insights/importance-of-social-media-marketing-in-business/
Cover, L. (2021, October 12). What you need to know to create a social media budget. SproutSocial. https://sproutsocial.com/insights/social-media-budget/
Novak, C. (2010, July 27). Why Conversation, not Content, is King. Social Media Today. https://www.socialmediatoday.com/content/why-conversation-not-content-king
Ravi, K. (2018, March 28). 8 Ways Starbucks Creates an Enviable Social Media Strategy. UN Metric. https://blog.unmetric.com/starbucks-social-media-strategy
Solis, B. (2010, May 18). 21 Rules for Social Media Engagement. Mashable. https://mashable.com/archive/rules-social-media-engagment
Hi Olivia, I do like how you used Starbuck's as an example. And I think you are right here! But would you offer the same suggestion to a local coffee shop that maybe had a 5 mile radius? That is the key and I suspect (on some level) , it might be different. Or if they followed the same path, they might not be able to cover as many social media sites.
ReplyDeleteHi Olivia,
ReplyDeleteI love the creativity of your title and how it is carried throughout your blog post. If I was someone looking for social media marketing advice this convenient structure would be perfect to quickly digest and gain new information.
Amanda Ciarci, content producer for Brafton Marketing, is still of the mindset that content is king. Although I do not agree her take was interesting and I wanted to share. She believes that “If content is king, context is queen in marketing” (Ciarci, 2022). Content is the material shared with the audience and context is the setting the person sees the content. “Context marketing is the practice of delivering the right marketing message to the right person at precisely the right moment” (Ciarci, 2022). The best example she uses is Taco Bell’s use of the Waze navigation app to target football fans with ads. When drivers get within 6 miles of a Taco Bell location the app asks if the driver wants to go there instead of continuing on their current route. The context of a hungry fan looking for a quick bit to eat is more important than the content they are advertising.
If you have ever used the Waze app, do you see any other companies using these types of tactics? I personally do not use this navigation app.
Looking forward to your response,
Dwane Holloman
References:
Ciarci, A. (2022, February 21). Content vs Context: If Content Is King, Context Is Queen in Marketing. https://www.brafton.com/blog/content-marketing/content-vs-context/
Olivia,
ReplyDeleteThis was really great and enjoyable to read! I see that you picked Instagram and Facebook to focus on. However, I have read that the sites are actually taking a turn into becoming less popular, but to put it more simply, they are become the next MySpaces.
Do you feel that this is true? That these sites are only fads destined to a doomed fate, or do you think they will continue to be fan favorites? What are your opinions on TikTok? Do you feel that this is the best place for marketers to market, or do you feel that this is the fad site? Again, you did a really great job!