If I landed on Boardwalk or Park Place, I’d buy it — even if it was with my last dollar. And if I couldn’t get one of those, I’d aim for the next best, maybe Pennsylvania Ave or Marvin Gardens.
Heck, I’d even buy Baltic avenue if I could slap a hotel on it and charge rent. It might be low rent but earning potential is earning potential, right?
It was a good strategy — aim for the top but don’t ignore what the ones in second, third, or eighth place can do for you.
As a marketer, I take the same approach, and until recently, it’s been successful. But thanks to IOS updates, it’s more challenging (read: more expensive) to reach new customers on the big social media platforms.
According to Apple in early 2021, “Starting with iOS 14.5, apps are required to ask your permission when they want to track you across apps and websites owned by other companies.
Putting consumers in charge of their privacy settings is a smart idea (and long overdue) but it wreaks havoc on marketing. If we can’t see where consumers are clicking, how will we know if they’re our target customer? And if we need to broaden our scope to ensure we’re at least hitting some of the right people, that means we’ll need bigger budgets – at least initially until the machine learning within each campaign becomes more efficient. And our leadership will need more understanding of the lower ROI.
Run that past your CFO and let me know how the convo goes…
Or we could start looking for the Marvin Gardens of social media
If there’s one thing we know in the furniture industry, it’s that new customers are key to growth. You might be tempted take JC Penny’s lead and focus on giving current customers more reasons to love you but that strategy seems a lot like relying on Monopoly’s Community Chest to win the game.
Maybe it’s time to start exploring smaller social media networks. A recent study by Pinterest showed that not only do their ads cost less, the ROI is bigger and more consistent. It’s a smaller network but it’s users are shoppers actively looking for ideas to solve challenges.
And the ads fold into the news feed so they feel more like content that might be of interest. Less disruptive advertising makes it easier to reach people who may be drawn to your product or service.
Regardless of what network you choose to advertise on, begin by reaching out to your vendors and see how they can help with content. And remember, vendor support can come in the form of co-op dollars, creative assets or even social media support and training.
Twitter – the next big thing?
In early 2020, eMarketer predicted a growth of 2.8% for Twitter — but thanks to the pandemic, they grew 8.4%. Fast-forward to 2022, growth is expected to remain a consistent 2% increase through to 2024. To maximize marketing campaigns on Twitter, you’ll need to understand the user base, what matters to them and how they use the platform.
Some interesting facts about the network:
According to Pew Research, one-quarter of U.S. adults use Twitter — 30% of them are women.
40% of Twitter users have a college education and 30% earn $75,000 or more.
According to Twitter, people spend 26% more time viewing ads on Twitter than they do on other leading platforms. What’s more, 53% of users are more likely to try a new product or brand.
The best news? Twitter’s current average CPM is 70% lower than even Pinterest, which means you can test out the platform without destroying your ad budget. That savings won’t last though — especially if Twitter continues to grow as expected.
Here’s how can you get into the game:
Promote high-performing organic tweets. A promoted tweet with a short video (less than 60 seconds) will automatically loop, which will boost performance.
Promote your account, which will help you target new customers and grow your following.
Try automated ads. If you’re new to Twitter, this is a great option. For a set rate of $99/month, your brand profile (and your tweets) will automatically be promoted. No creative needed – just click and go.
TikTok – an emerging social media giant you can no longer ignore
Four years ago, the typical TikTok user spent an average of 4 hours/month on the platform. According to Scott Galloway that number grew to 26 hours/month in 2021 — more than Facebook and Instagram combined.
Their game play for success? Serving up short, addictive videos, produced and consumed by its more than 1 billion user base — predicted to surpass 1.5 billion by June 2022.
The bulk of TikTok users are Gen Z and younger millennials but there’s a substantial group in the 40+ category using the platform, too. Oh, and by the way, the average household income of an American TikTok user is $100K/yr. If you’re considering advertising on TikTok, you’re in good company. Chipotle, Casper, and even the Empire State Building are all creating fun, quirky videos on the platform.
TikTok doesn’t share specific ad costs but ad campaigns have a minimum daily spend of $50, and ad groups come in at $20/day. TikTok’s Ad Inspiration for Business will help you benchmark your budget:
A successful TikTok ad campaign begins with a lot of video creation. The platform recommends new videos every 7 days with 21-34 seconds being the optimal length. And remember, users have short attention spans so videos have to “jump” in the first 3-7 seconds.
These tips will help you get in the game:
Think authentic, fun and positive. Use in-app software (filters and sounds) and avoid over-produced, sales-y videos. The goal is to stop the scroll and inspire viewers to like, comment and share.
Use sound AND captions to grab viewers, whether they watch with the sound on or off.
Leverage existing content. If TikTok users are already talking about your brand, turn it around and use those videos to create a series of Q/A videos.
Consider partnering with an established creator with a following that may be interested in your products and services.
WhatsApp to support your social media ad campaigns
With more than 2 billion users worldwide, WhatsApp is the most popular mobile messaging app and the third most used social media network in the world — Americans being the biggest users (statista.com).
More than 82% of Americans use the app an average of 140 times a month, to keep in touch with friends and family but 13% of users say it helps them stay connected to colleagues and 10% use it for entertainment.
In 2014, Facebook bought WhatsApp, making it an interesting tool to support your other advertising platforms. By connecting Facebook and Instagram to your business WhatsApp account, you can ensure no customer inquiry ever goes unanswered.
Begin by setting up a business account and filling out all the required information. Ensure your address(es), phone number(s) and hours are all correct and updated regularly.
Consider these options to supercharge your WhatsApp account:
Personalize your social media customer service responses. Labels will help you organize and categorize messages by urgency and/or returning customers while automated messaging answers common questions after hours.
Showcase products in a catalog. Upload up to 500 products with images, descriptions and a link to your website and share links to the catalog in WhatsApp conversations with customers.
Tap into WhatsApp third-party tools.
Sparkcentral by Hootsuite. Works well with WhatsApp, Facebook Messenger, WeChat and Instagram. Chatbots and AI will help you automate and manage high-volume customer service enquires.
WhatsAuto. Build a chatbot to create and schedule auto-replies.
Advertising on social media is still a lot like playing a game of monopoly — except that new properties are constantly being added and the rules are always changing. Just the kind of game I love playing.
I’ve only covered a few social networks in this post and only a very high level. If you’re interested in learning more, click over to some of my favorite blogs and get ready to learn!
Hootsuite. Consistently great posts on everything from strategy to tactical tips and tricks.
SproutSocial. Once you get past all the ads to buy their products, you’ll find a wealth of information.
Sparktoro. I’m a big fan of Rand Fishkin and he continues his brilliance in his newest venture. You won’t be disappointed.
Hubspot. A goldmine of expert blog posts and podcasts.
Who the heck is Julia Rosien?
At the end of the day, it’s night and it’s my job to help you get a better night’s sleep – and lead a healthier, longer life. Pretty awesome job, right? As Vice President of Brand & Digital Marketing for Restonic Mattress Corporation, I also serve as the brand liaison for Restonic’s family of brands, which includes Scott Living and Biltmore.
My motto: life is better together. We all want to succeed and when we work together, we can make great things happen for ourselves, those around us and the organizations we serve.