FRIDAY FIVE: July 14OUR FAVORITE MOMENTS FROM THE WEEK
Being in an industry that is constantly evolving like social media, digital marketing and all things web related means that you’ve got to stay on top of the latest news. Along with that, we here at Venture are always striving to not only read about our industry but business, Michigan, our hobbies and interests, and things that are just plain funny. We’re rolling out a new weekly blog called the Friday Five which will include our office’s favorite articles from the past week and a short summary from each of us.
NEW: Reach 1.2 Billion Users on Facebook Messenger
That’s right – Facebook just announced a global release of ad placement in their Messenger platform. 1.2 billion people use the app globally and advertisers can tap into the same highly focused targeting as available for FB/IG news feeds. Advertisers can now reach people in their personal conversations and not just in the regular feeds. Also, it increases the available ad slots for an increasing number of advertisers tapping into Facebook – thereby increasing FB’s revenue and shareholder value.
What do you think about this release?
The Grand Rapids Grandwich Competition
Every year restaurants and bars in the Grand Rapids Michigan area have a competition to see who can make the best sandwich, and every year I gain at least 5 pounds. This year 32 eateries have officially entered the fray in the hopes that they will be crowned winner of the best sandwich in Grand Rapids. The competition has officially started and runs from July 5th thru July 21st with the official winner being announced on July 27th.
It seems that each year picks up a theme or two, such as the year of pulled pork, or the jalapeño on everything trend ( listen, no one wants jalapeños in there soup, absolutely no one ). This year seems to be a fairly nice blend of breakfast burgers, fish sandwiches, reubens and cubans. This of course means that I may in fact be putting more than the average 5 pounds this year, because I absolute love reuben and cuban sandwiches ( it is a real problem ). If your reading this, and you have had a sandwich from this years Grandwich list, leave us a comment and tell us what your favorite sandwiches where!
Connect Marketing Directly to Sales
Business has always been ultimately about the bottom line and increasing ROI with the goal of connecting marketing team to the sales team. In the past, traditional marketing techniques were beneficial because people spent their time listening to radio ads, reading all their mail, and being forced to sit through a TV commercial break. Each of these outlets provided great value in advertising because you were confident that people would become aware of your business. Over the last decade or so, traditional marketing has lagged behind some of the innovative marketing techniques that are out there today.
This is due to the fact that consumers now have the option to simply skip through radio ads or listen to their own music without advertisements. In the same way, consumers are programmed to simply through away and mail that is not a personal letter or a bill that they have to pay. The development of streaming has drastically lowered the number of people who watch TV shows. As the culture continues to move more towards digital dependency it is important that businesses transition with the culture.
Before I go any further I need to express the fact that Social Media Advertising is not banner ads. It is, however, posts that show up in your newsfeed that appear as posts just like when you see your friends posts and pictures.
1. Social Media Targeting
Simply posting content on your companies Facebook page is not sufficient to capitalizing on the benefits of social media marketing. Organic reach is down to less than 5% of all of the people who “like” your page due to the lack of space on Facebook newsfeeds. Using paid content to target specifically to your target market is a fantastic way to reach a new audience who is in your target market. Since businesses are only paying to reach their specific target market, thousands and thousands of dollars are being saved as a result. It is possible to target based on a variety of demographics. That will narrow your reach to only people who are in your location, can afford your product or service, and most importantly are interested in you business.
2. Link Sales Directly to Marketing
The relationship between the marketing and sales teams should be like an assembly line where the goal is to maximize return on investment. This should be accomplished by establishing “good leads” from the marketing efforts that can then be given to the sales team to close. Social Media Advertising allows the marketing team to see exactly how advertisements are performing. Not only that, but they can also produce “hot leads”. These are a result of their targeted marketing efforts that then can be given to the sales team to close. The days of having to give an educated guess of calculating businesses Return-on-Ad-Spend (ROAS) is over.
3. Retargeting Capabilities
It is common knowledge that consumers generally do not pull the trigger on the first time they view an advertisement. If it is common knowledge, marketers should consider how difficult it is to retarget via traditional marketing techniques. When a potential customer sees your businesses advertisement on TV, radio or on a billboard it is virtually impossible to harness that engagement. Retargeting is not possible based on how they interacted. Social Media Advertising creates the ability to retarget to potential customers that engaged with your advertising. We then will send them a more targeted ad with more information and a call-to-action.
The article below gives more information on how your business can take full advantage of its presence on social media. If you are interested in even more detail on how Social Media Advertising is changing the way companies advertise feel free to read other blogs. As always you can also reach out to the Social Media Ad Experts at Venture Creations. The world is evolving, make sure that your marketing strategy is also evolving with it!