How to Profit From Social Media Marketing

In increasingly highly competitive markets, how do you make customers want a product or service they never knew they even needed? There are a few solutions for this dilemma, but this is particularly so when it comes to the tough realm of Social Media Marketing in E-commerce.

Let’s Talk Social Media’s Mind-Blowing User Numbers

According to recent research, 4.5 Billion people worldwide use social media every day,  spending an average time of 145 minutes; this translates to around 2.5 hours per day screen time. That time your audience spends online means endless and interconnected advertising opportunities on social media platforms such as Facebook, Instagram, TikTok, Pinterest, Twitter, LinkedIn, etc. Consider also that the number of such social platforms has increased over the years, reaching more diverse and niche audiences.   According to some statistics from Dataportal, people may use around half a dozen of their favourites on a daily basis. Furthermore, Kepios claim that the number of social media users is increasing by 400 million annually; that is a rate of 10% more people connecting digitally every year. Together, this bigger picture means ever increasing opportunities for e-commerce businesses and online advertising.

Is This Social Media’s Best Time Ever?

Now that people are spending more time working from home, they also have more time to browse online at leisure, released from their daily commute.  It’s fair to say that a global pandemic has been a driver of more people spending time online too.  Indeed in the year to October 2021 alone, a staggering 409 million more NEW users have joined social media. In the time you read that sentence, that could be another 30 new social media foot-soldiers buying what you offer!

Make Some Social Media Noise

What this growing pool of receptive minds also means is that there is a lot of noise going on out there, making it difficult for you to be heard among the clamour of your competition.  It’s important that you get the best possible payback for whatever you invest in social media marketing, be that money or your people putting in ‘sweat equity’.  Whoever manages your social media accounts needs to know what they are doing, or you can throw your money at a campaign, only to fail in getting the returns you need to make future marketing campaigns a viable option.   Make no mistake; marketing is your life blood. Good, measured targeting generates custom and when executed to a high standard, brings in loyal buyers, who will stick with you in the future.  These customers are gold dust.

Get Savvy to Subconscious Online Shopping

When those users you want to reach scroll down through their social media feeds and swipe left or right to see the next stories, one can be forgiven for thinking that they don’t look like they are actively shopping! Scrollers don’t consciously think that they are either. Perhaps you might believe that they are just browsing and skimming through content, maybe with very little or no particular attention at all even.

At times people might be slightly wary of Ads and quickly skip them, until they keep coming across the same ad, popping up before their eyes, over and over again.  At some point, some captive audience member might not be able to help but finally view it for a few more seconds, to see what it has to offer them.  After all we all know that much of such online advertising is targeted to us, right?  

When that click through happens, we advertisers begin winning this social media advertising game. However, let’s not just get our hopes so high just yet.  What you may not know is that we advertisers and marketers have a bigger chance of putting ourselves ahead of the game on your behalf if you choose to outsource to the experts, and of course, partly thanks to the capabilities offered by social media platforms.

How Does Grabbing Your Slice of The Social Media Pie Work?

Here is how to start winning the race for lackadaisical social media user attention.  You might call it the appliance of science to the art of engagement.

During our time spent browsing our favourite social media platform  content, these sites  systematically collect data on every interaction and engagement, every scroll, swipe, like, or comment we make; every brand, artist, or social group we follow; the events we attend, our friends and social circle, our geographical movements, traveling patterns, shopping habits, and an endless number of other signals all help social media platforms establish a highly detailed demographic profile on each user; all the better to sell directly to particular groups of people.  

Combining statistics on this massive scale helps predict our preferences and habits.  Of course, their insights into who we are gets regularly updated daily, as we continually evolve and as our interests change over time. These ever evolving profiles are like gold mines for the savvy marketer, who understands how best to mine that data and use it to optimise messaging and advertising budgets, converting the maximum number of views into the maximum number of conversions to a sale.

Now, aside from the huge privacy debate (which, by the way, is getting hotter each year,) let’s be clear about what is going on here.   Nobody is actually watching us and profiling us specifically in identifiable ways. Getting information on who we are and what we want is all achieved through the power of AI and machine learning from the mass of collected data which offers both insights into your preferences and those of people like you.  Machine learning uses endless bits of information to categorise each and every user into different demographic and interest groups, some of which overlap and morph.  

Those buyer ‘profiles’ are then used by marketers to offer services and products more highly tailored to users’ changing interests and needs – and thereby allowing marketing campaigns to offer better return on investment.

Based on the fact that social media providers want to give viewers more of what they want to keep them around, we can all agree, therefore, that the longer the platform has been around and the more we as consumers have spent time there, the higher the chances of a social media provider having a more accurate profile of us and delivering what we want.

This is why AdsRunner believe Facebook has been on top of this game for quite a while now! Let’s face it, they have been around for nearly two decades, so they have gained ownership of three of the most highly used social media platforms and messenger services: Facebook, Instagram, WhatsApp.

If you are part of the younger generations, you have lifelong data accumulated by these bigger players about you, in fact, chances are they know you much better than your partner, or even you yourself!   But let’s not get too hung up on that; after all, data gets outdated fast!

How To Tap Into Subconscious Shopping Desires

So, relaxing online and looking for the next thing to entertain us, or ease our lives, we are all subconsciously shopping – even if just for ideas – every day.  Hence, every ad is being shown to each user for some particular reason, based on a historical or recent signal in their profile which made it a good idea for that marketer to target them.  So what does that mean for selling to our ideal customer better? What makes a compelling campaign message?

Let’s assume, for example, we’re promoting back pain relief solutions and perhaps this morning you woke up with back pain from long hours of sitting behind your desk (If you did, I feel for you) so searched for back pain remedies or treatments on google.  You opened up a few links, but did not make any immediate decisions and left it there. Maybe you sent a message on WhatsApp to your partner that your back hurts like crazy today and you can’t even walk! Well, chances are, some of those websites you checked had social media platform pixels installed and picked up on your searches and website visits after you left their site.  Perhaps even easier, your WhatsApp conversation topic with your partner gets picked up by the AI and immediately, you start seeing images or videos of back pain remedies and products. It’s almost magical!  You’d think this was a message from the universe! You are seeing the right product at the perfect time, even though you never even knew you needed it until earlier this morning!

Now, you have been identified as an ‘in-market shopper’ for a back pain remedy, so all advertisers out there have a chance to target you directly and sell you their product and win you as a customer.

Now every ad that comes your way gets a chance to score a sale, confirming to you that their product is indeed that magical back relief that you need and marketers will fight for your attention against their competitors who advertise similar products; those using the best ‘remarketing’ techniques will win your attention. 

In all likelihood, due to the relatability of the ads together with the right timing of what are known as ‘impressions’ showing up, (as your back pain is still present), you watched our video advert, or clicked on the ad, showing a sign that you are in some way interested in our client’s products. Congrat’s, you just helped put our advertisers one more point ahead of their competition.

Retargeting Your Warm Audience

Now, you are no longer just someone who may be interested in back pain remedies. Your proven interest shows engagement with the product we are advertising; you are what we call a ‘warm audience’ and this moment of showing interest is our final opportunity to do everything we can to sell you the product and convert you to a customer as quickly as possible.

We know by now that you are a potential customer and that you use social media, so we want to make sure we are actively marketing on those social media platforms we think you might be on too, in order to directly give you all the information you might need seamlessly, without any effort from your side. Here, where you are relaxed and suggestible, is our best chance to immediately offer more information about the products or services you want and for us remove any doubts about the wisdom of buying.  Here, we answer your remaining questions, gain your trust and increase the likelihood of your purchase. Ultimately, we hope you will become a longer term customer too, all triggered within an observed conversion window.

Remarketing To Your New Customers

We know we had some fun here letting you in on our advertising strategy and narrative, but of course you want to make sure your customer always wins as much as you do.  From here on in, think win-win relationships.

With the cost of advertising rising continuously, it is becoming ever more important to pay close attention to ‘customer lifetime value’ (CLV) and follow a good customer experience (CX) strategy to increase the value of sales to your customers acquired over time and generate further revenue and profit from your existing customers.

Maximising value means upselling or cross-selling, perhaps via product catalogues, or encouraging your targeted customer to try our other services with ‘taster’ trials, perhaps even have them subscribe to a monthly product subscription – or at the least an emailed newsletter – or a refill or upgrade where applicable.

Make no mistake, Social Media Marketing remains an invaluable advertising channel for retargeting your customers. There are numerous ways that you could structure your social media marketing strategy  such that your ‘retargeting’ of warm leads can be undertaken for a fraction of the initial acquisition cost and your company benefits from a much higher Return On Ad Spend (ROAS).

Maybe Social Media Marketing is Not That Easy After All?

We hope by now that you are convinced of just how social media can be such a powerful tool to advertise your products or services, generate and capture leads, and to scale your business. Needless to say, however, advertising can be costly, unless applied correctly.

For today’s purposes, I have made it sound like a game, to show how the chase can be fun, when you are clear about the process involved.  It isn’t so easy, of course.  In fact, as a digital marketer who has been marketing products on social media for years, I find it works. In fact, the competition involved in online advertising leads to better and more quality products for consumers.  Now everyone is happy, there is nothing better than getting the right product at the right time for your customers, for you and them. Let the universe speak to us all it wants to, if it’s for the right reasons!

Perhaps it sounds all too simple to put this tricky art into words and make it sound interesting, but truthfully, for most businesses, competition is extremely tough. Everyone is fighting to meet consumers’ high demands and enjoy a piece of that precious market share.  That increasing competition is leading to lower margins and high advertising costs, which can make it very hard for most businesses to stay afloat at worst and ahead at best. 

How to Make Social Media Marketing Work For You

Most businesses have a limited advertising budget to build their business and have to compete with tens and hundreds of other brands.   This makes it particularly difficult if you are a start-up or a smaller business. For larger brands, growth and scaling comes with a high cost and keeping the market share gets harder as the competition gets fiercer in the online world.

With so many platforms and so much competition, one might find it very hard to find the right strategy and make too many costly mistakes. This is where we, the digital marketers come in to take the weight off your shoulders and walk the journey with you, pointing out the shortcuts and potential traps.

AdsRunner can help you build your social strategy affordably and quickly. We can help you select the right channels and structure for your campaigns and brand, to better market your products in the most efficient way, so that you can grow your business, save costs and increase profits faster and with lasting results.

Let’s get to it!