social media

Social media, where to spend the money

What are some of the best ways to spend your money on social media marketing and who's doing an awesome job of it?

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Women are among the most active users of social media, but when it comes to spending money on promoting their businesses, not everyone is getting it right.

The rise of Facebook and Instagram ads, sponsored content, YouTube TV accounts, Linkedin and Twitter, as well as other social media platforms that allow you to schedule posts have made reaching customers easier, and more affordable compared to the traditional means.

Just ask Lisa Johnston is a social media gun, who consults for National Australia Bank’s social media business program [email protected] She’s also co-founder and operator of marketing platform Blog Avenues and consultancy Social Avenues.

“A lot of people think that because they have their own facebook or instagram account they can manage it for a business.

“There is a lot of skill involved in understanding the power of these platforms, and understanding what your customers want. Too often I see businesses that don’t understand what their customers want.”

She says often the smartest social media spends including boosting your posts on Facebook, which is still the most popular platform, and Instagram – which is growing in popularity.

“[In Facebook Ad Manager] Always pick option 3 – People you choose through targeting [their audience]. That way you can pick the suitable audience each time you post something so the right message reaches the right person.

Social media spending is expected to climb to a 20.9 per cent share of marketing budgets in the next five years, according to The CMO Survey.

Yet attitudes towards advertising on social media in Australia are mixed, making it harder to get your advertising dollars working for you.

A 2015 Sensis report on social media found 38 per cent of people don’t mind seeing ads and 42 per cent said they click on them occasionally.

But 55 per cent of people say they still take no notice of ads, and 72 per cent ignore sponsored posts from businesses they don’t follow.

So what are people/businesses doing right on social media?

“Engaging their customers! Brands/businesses that are using social media to actually listen to their customers, talk to their customers, repost customer’s photos, making them feel like they are part of the brands, holding competitions or events.

“Also brands and businesses that are using influential people to collaborate with them. These are the best ways to increase organic engagement.”

One company that is doing this really well is online shoe retailer Shoes Of Prey with the company’s co-Founder Jodie Fox regularly taking to social media to posts tips for her audience and inviting them to send in theirs.

Here’s a sample of where she uses her growing YouTube channel to give people tips on how to save money while dressing up older shoes. It’s been up only a couple of weeks and has already had thousands of clicks.

What are people/businesses doing wrong on social media?

“The biggest mistakes that I see is content that is not right for their customers, not spending any money on the platforms and trying to sell to their customers everytime they post something.”

What is the best way to use social media as a business?

“The best way to use social media as a business is to use the platform as a relationship builder. A platform to grow and engage their community rather than as a way to just sell to them. The more brands/businesses that can add value to customer’s lives, the return-on-investment (ROI) will come naturally.”

What gaps do you see in the marketplace?

“The opportunity for brands to partner with likeminded bloggers is a gap in the market. Also not enough brands have identified the value of social media and it is getting neglected allowing competitors to own these platforms.”

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