Welcome back to Content Amp Camp! Where we’ll continue to teach your content to survive in the wild. Today we’ll be breaking down how to utilize paid social channels to increase your content’s reach and most importantly, improve your audience segmentation and targeting.
What is Paid Social?
Paid Social is any targeted marketing campaign on a social channel that supports sponsored listings. Examples include Facebook, LinkedIn, Twitter, Pinterest, and Instagram. Your paid social efforts should ensure your content gets its best chance of being seen by your desired audience.
Why Paid Social?
96% of audiences discussing brands online do not follow those brand’s profiles. (https://www.brandwatch.com/blog/marketing-dark-matter-social-media-and-the-number-96/)
Nowadays, it’s hard to get your audiences’ attention organically on social. There is so much content available and it’s easy for yours to get lost in the noise—making paid efforts a fantastic way to guarantee your content has a chance to be seen, discussed, and shared.
You have to pay to play, or perhaps more appropriately, you have to pay to grow on social media. Here are 7 steps to assist in building out a paid social strategy.
- Segmentation & Targeting
Who is my audience?
To get started, ask yourself: who is my ideal customer?
Create a profile for those individuals – consider things like: what age group they are, gender, their location, likes and dislikes. The more you can identify about them, the easier it will be to research where those types of individuals camp out online.
What social sites do my customers regularly use?
How do my customers research my product? Ex: Search Engine, Blogs, Marketplace, etc.
Not sure how your target audience is using social media? Try surveying individuals who have already purchased or shown interest in your product or services.
Ask them questions like: what social platforms do you frequent most, or what sources impacted you to buy our product?
There are free tools like Google forms or Survey Monkey that can assist in the collection and review of these answers, and they can provide helpful insights on where and how to target your audience.
WARNING: What do you do if you have little to no customer data and surveys are not an option?
If you don’t feel like you have enough data to analyze your audience, there are a variety of free studies available online that can inform you of demographic breakdowns of each social platform’s user base. You can use that research to make educated decisions.
Examples include, Pew Research Institute, and Smart Insights which have great resources detailing audience insights on a variety of channels.
- Choosing your channels.
I know who I want to reach, now what?
Choosing your platform(s) – Facebook, LinkedIn, Instagram, Pinterest, Twitter…
Now you know where your audience likes to gather, discuss, and share. It’s time to choose the channels that make sense for your audience. For example:
Consider a B2B firm looking to sell services to medium-sized business owners. LinkedIn would be a great place to start because many business owners are already using the platform throughout the day.
Alternatively, if you’re a B2C retail brand looking to sell your lifestyle products you may want to choose a platform like Facebook, or Instagram where users more often go for recreational social media use.
Ultimately, there’s no “right” answer to what platform you choose, test ads where you think they’re best suited.
- Set goals
What is the objective of your campaign?
If you want to create a successful paid social campaign you need to have a clear and achievable objective in mind before you start. Objectives could include traffic, form completions, shares, likes, phone calls… you name it. Just be sure you know what you’re looking to achieve and have a way to measure it.
- Choosing content assets
What content do you need to make this campaign possible? What content are you hoping to amplify?
Once you know your objective, you’ll need to choose what content you want to amplify—it should align with your campaign objective. For example if the goal is to create awareness, the content should appeal to those just discovering they have a problem. In this case, the more eyes your content gets in front of, the more successful you can consider an awareness campaign to be. Measure impact by looking at impressions, click through traffic, engagement, shares, comments, and likes.
Choosing content to promote
Example – Your objective is Awareness >
Conversely if the objective is meant to re-target and convince people in the decision phase to purchase from you, the content should create urgency and offer special value within the call to action.
A well designed retargeting campaign can focus campaign spend on audiences most likely to re-engage and convert with your brand. Measure performance based on the rate of conversion action you want your audience to take.
- Set your duration and budget
How do I know if this is worth it?
How much money is going into the social campaign versus how much revenue is tied to resulting activity?
Now it’s time to set a budget for the campaign. Determining a budget is crucial to maximizing ROI – too little budget and your sample size won’t be enough, too much budget and you risk not seeing ROI from your efforts.
Given your target audience size, choose a budget amount that will allow you at least 2-3 impressions per day to ensure an adequate data sample size.
Example – For every 50 newsletter signups we see a purchase on the site.
Our average order value is $1,500.
Completing the formula yields the following; every 50 signups is worth $750 or every signup is worth $750/50 = $15
Campaign Cost = $10,000
Impressions = 1,000,000
Click Through Rate = 2%
Traffic = 20,000
Newsletter Signup Conversion Rate = 10%
Conversions = 2,000
Conversion Value = 2,000*$5.10 = $30,000
Gross ROI = 3:1
Net ROI = (Revenue – Cost) X 100 / Cost = $2
Calculating ROI depends on your budget, performance measurements, and an understanding of how different types of engagement relate to your revenue. Aside from tracking the obvious, transactions, you need to understand what types of conversions are available on the site, or need to be created, versus how likely those activities may result in revenue.
Thanks for camping out with us today, and learning more about creating an effective paid social strategy. You have now earned your Paid Social Mastery Badge. In our next, and final Content Amp Camp video we will cover how to put together your cross-channel content amplification strategy using everything you’ve learned thus far.