Social Media and Marketing

Social Media-An Ever-Changing Landscape

Social media is ever-changing and evolving. That’s why it has become a crucial part of every brand’s marketing strategy to put both time and money into developing a social media strategy. New social media channels are constantly being added into the mix, so it’s imperative that social media managers stay up to date with what is happening in their industry. The results of social media and marketing speak for themselves. With targeted ads, brands can reach audiences like never before, introducing consumers to their company in ways that would have never been possible just 20 years ago. Billions of dollars go towards social media advertising every year, with projections that the trend will only continue to grow (US Social Media Ad Spend, 2021). Social media is the way that many people, myself included, see the majority of ads. As a person who doesn’t have cable, like many in my generation, social media ads are how brands can reach their target audience.

Which Channel Will Work Best for Your Brand?

With so many social media channels, each with varying audiences and demographics, it’s important to know which channel will work best for your brand. While focusing on one channel may be a great decision for many brands, it’s imperative to be diverse in your social media channels by staying active on a mix of platforms. The average social media user has eight different accounts, so by brands being active on multiple channels, they can reach their audience in more than one place (70+ Social Media Statistics, 2021.) However, it’s also important to treat each platform specifically for your audience, and some platforms will not play well for brands. For example, a company that focuses on the Baby Boomer demographic likely would not spend time and resources by posting much or any content on TikTok, where well over half of the users are under the age of 24 (Sehl, 2020).

Social Media Metrics-Engagement, Engagement, Engagement

The name of the game with social media is engagement. Brands need their content to be liked, interacted with, and shared (Reed College of Media, 2021). According to Chris Lake from Econsultancy, there are 35 KPIs to look at regarding social media, including Alerts, Bookmarks, Comments, Downloads, Email subscriptions, Fans, Favorites, Feedback, Followers, Forward to a friend, Groups, Install widget, Invite/Refer, Key page activity, Love Like this, Messaging (Reed College of Media, 2021). A brand needs to consider what the KPIs are when determining a marketing strategy for social media. The KPIs will likely be different depending on the social media channel is implemented. It’s also important to determine what your campaign objects are. Are you trying to convert? Facebook and Instagram have both become channels where people go to search for products, making these channels perfect for conversion campaigns (Barnhart, 2020). But, a brand awareness campaign may perform better on channels like Twitter and TikTok, where brand awareness campaigns perform well.

Budget Allocation-The Channel Matters

So, where should a brand choose to allocate its budget? Let’s look at Hershey’s. As one of the top brands that Baby Boomers love in 2019, Hershey’s may want to focus on a specific channel to engage and reach its core market (The Brand Boomers Love, 2019). By focusing on Facebook, Hershey’s can reach their audience where they are. This does not mean that Hershey’s should ignore other social media channels, however. In order to reach different audiences who may not already be enjoying Hershey’s Bars regularly, Hershey’s needs to stay active on other channels, posting different content than they would on Facebook. Millennials are a little more selective about their chocolate choices, preferring finer chocolates than Hershey’s is known for (NCA Research, 2019). While Hershey’s does not sell a premium chocolate bar, there is certainly nostalgia around biting into a Hershey’s Bar or enjoying s’mores in the summer. But, in order to reach younger demographics, Hershey’s should post content on channels known for having younger demographics, such as Instagram, reminding them that Hershey’s makes candy bars that will remind them of their childhood, like the KitKat bar or Reese’s Cups, or the classic Hershey’s Bar that so many people tie memories to. To reach an even younger audience, Hershey’s could also post content to TikTok, a channel that the company is not currently active on.

Content vs. Conversation

Content matters. But the conversation is what gets the wheels turning to increase engagement so that KPIs can be realized. I believe that the two need to work together. Quality content and quality copy are what will ultimately drive conversation so that social media goals can be met. The two are part of a symbiotic relationship, each requiring the other in order to succeed. It's imperative, when coming up with a plan for social media, that social media managers consider what content will drive conversation.

References 70+ social Media statistics you need to know in 2021 [Updated]. (2021, January 08). Retrieved February 15, 2021, from https://www.omnicoreagency.com/social-media-statistics/ Barnhart, B. (2019, February 26). 8 ways to boost your social media conversion rate. Retrieved February 15, 2021, from https://sproutsocial.com/insights/social-media-conversion/
NCA report Shows Millennials' impact on chocolate industry. (2019, August 23). Retrieved February 15, 2021, from https://cstoredecisions.com/2019/05/13/nca-report-reveals-new-chocolate-preferences/#:~:text=A%20new%20report%20by%20the,average%20preference%20for%20fine%20chocolate. Reed College of Media. (2021, February 15). Week 4 Lesson. Retrieved from Ecampus: https://ecampus.wvu.edu/webapps/blackboard/execute/displayLearningUnit?course_id=_155927_1&content_id=_7582545_1&framesetWrapped=true
Sehl, K. (2020, July 28). 20 important TikTok STATS marketers need to know in 2020. Retrieved February 15, 2021, from https://blog.hootsuite.com/tiktok-stats/#:~:text=TikTok%20has%20a%20reputation%20for,of%20the%20app's%20user%20base. The brands BOOMERS love in 2019. (2019, October 29). Retrieved February 15, 2021, from https://www.considerable.com/entertainment/trivia/the-brands-boomers-love-in-2019/ U.S. social media ad Spend 2022. (2021, January 18). Retrieved February 15, 2021, from https://www.statista.com/statistics/736971/social-media-ad-spend-usa/