April 2014

Turning Big Data Into Smart Data

April 29, 2014/by Corey Padveen

Big data is an exciting concept and we hear a lot about it, but we need to get our data working towards achieving business goals.

Big data is exciting. We hear about it everywhere we go. There are virtually limitless applications for these kinds of data, but when it comes to our businesses, we need to ensure that our own big data is working towards achieving the goals we have set for ourselves. This is the difference between your average big data, and smart data. But how exactly can we get our data working for us? Not all of us are mathematicians, and with the exception of a few of us, not everyone is all that well versed in mass data analysis. So what are we to do?

The beauty of social data is the fact that it is delivered to us in about as useful a form as data can be presented. We simply have to deduce what our social data is telling us, and turn that into an effective strategy or set of strategies.

The set of strategies listed below are easily optimized through the strategic leveraging of big data from your owned social media. Take a look at the process and see if there is any opportunity you might have missed out on!

Content Strategy

If there is one thing that your data is telling you it is how you should optimize your content for increased engagement and conversions. If you’re wondering what exactly a content strategy is, and how it differs from content marketing, click here. The gist of the concept is that your content strategy is the reason why your audience engages with your brand, based on the types of content and the messages that you are publishing. Your content marketing is the process of leveraging that connection in order to acquire new customers.

Your data is providing you with a world of insight into what types of content will resonate best with your target audience. Look for spikes in engagement and reach, correlations among those spikes and identify exactly how you can craft content that you know will increase overall engagement with your brand.

Think about it this way: say you analyze your data and notice six spikes in the last month where reach and engagement skyrocketed. You look at the content shared at each of those six points and note that at each point in time, your content was shared in the afternoon, featured an image and was posed as a question. These correlations help determine exactly how to structure the content you want to perform best on your social networks.

Social Ad Spend

John Wanamaker is credited as telling the world that half of his ad dollars were wasted, he just couldn’t tell you which half. That’s no longer the case when it comes to the powers offered by social data.

Your social data is telling you not only what demographics make up your largest audience, but also which demographics are most engaged with your content.

Screenshot taken 4/28/2014

Based on these engaged audiences, consider how you want to spend your ad dollars. The targeting capabilities that exist within social advertising platforms are unparalleled. Never before have such detailed audiences been targetable. You can now pinpoint audiences by much more than age and location. Go as deep as interests, political affiliations, marital status and even pages with which they have connected. There are virtually no limits to how targeted you can get, or you can go as broad as ‘everyone’. Use the social data you have at your avail in order to effectively target those audiences that have been most active with your brand (or your competitors).

Social Ad Optimization

For the first time in the history of marketing and advertising, we do not need to wait for a campaign to conclude in order to see our results and optimize a program for better performance in a future campaign. We can now make all the necessary changes in order optimize our performance and results in real time.

The data presented in your social ad campaigns tells you exactly how well a campaign is performing as it is taking place. This data should be used as often as possible in order to ensure that the ad spend discussed above is at no point being wasted. As you begin a campaign, several target demographics should be tested and tweaked until you have found the ideal target audience. You never know where it might come from!

Operations Efficiency

On a much higher level, your social data can help you improve the efficiency of your digital operations. It might sound like fantasy, but it isn’t.

When looking through your activity on social, connecting that to your website and observing the dynamic between the two, there are certain key indicators to pay attention to that can help improve efficiency of your overall marketing efforts when it comes to digital. Using an analytics platform like Google Analytics, you can see how your activity on social media extends to your website. Leverage the insights in your social dashboard to see where your most engaged audience is coming from. You can create goals and filters to see which members of these audiences are most likely to convert.

Screenshot taken 4/28/2014

One added benefit with the recent rollout of Universal Analytics out of Beta is that you can now get additional insights into your website’s audience members on top of the activity in which they are engaging, like gender, age and interests. All of this is hugely valuable when it comes to fine tuning your digital strategies in order to ensure that everything you do is geared towards growing your business.

Conclusion

Big data is exciting on a number of levels. Maybe one day it will be able to predict things like natural disasters, epidemics and change society for the better. On a smaller scale, there is a lot of value to your big data on social networks that most brands are not leveraging.

These are just a few of the ways in which your brand can get some value out of your big data. Perhaps the most exciting aspect is that we still don’t know what all of these data can do!

Have you used your social data in a creative way in order to drive business goals? Tell us in the comments below or on Twitter!

Combining Content Marketing with SEO [INFOGRAPHIC]

April 21, 2014/by Corey Padveen

Content marketing is the process of telling stories through your content shared to social media; it is also a great way to improve your search rankings.

Content marketing has been a rising star in the realm of social media and digital marketing in recent years. As social business has moved to the forefront, marketers have started to realize that their audience members want to engage with stories. Creating a content strategy and adapting it into a marketing initiative can be challenging. But if it is done correctly, it can provide a world of benefits to your brand.

Among those benefits is search engine optimization. Through the strategic use of your content on social platforms, you can quickly improve your search rankings. This infographic from Blog Most does a great job of showcasing just how effective your content marketing initiatives can be when it comes to improving your search results.

The Best and Worst Features of Major Social Networks for Brands

April 14, 2014/by Corey Padveen

Not every brand is right for the major social networks, and not every one of those networks is right for a specific brand.

When a brand gets started with social media marketing, the initial thought process is something along the lines of: “I need to be everywhere, all the time, no matter what.” Considering the massive presence that some of the most successful brands have had on major social networks, this is a natural rationalization. But to really find success when it comes to social media marketing, you need to understand two things above all else. The first thing is crucial not only to where you want to have a presence, but to the success of your program as a whole: you need to set your goals. Your goals will be a defining characteristic of virtually every decision you make, and the process that led to that decision. Second, you are going to want to have a fairly strong understanding of the benefits and the drawbacks of every one of the major social networks. For this discussion, the networks that make up that group are Facebook, Twitter, YouTube, LinkedIn, and Google+.

One common benefit is obvious: they are popular. You want your brand to have a presence on networks where people are talking. Considering the mass of users these networks have garnered, you are more than likely (in most cases) to find members of your target audience on these platforms. That said, depending on your brand’s message and the social persona you create for your brand, it might not be all that beneficial to have a presence on every one.

In this article, we’ll look at some of the greatest strengths and weaknesses of these five major social networks. Of course, there are others (dozens if not hundreds, depending on what you consider a social network) on which you might want to have a presence. The likelihood is, however, that these five will be among your pool for consideration, hence our decision to look closely at them.

Facebook

As the largest of the bunch (with an audience size well over 1.2 billion users) this is almost a guarantee to be added to the “Yes” column. The page layouts are simple and effective. Other networks can be easily integrated. And there exists a world of possibilities when it comes to apps and plugins as well as a huge mobile audience. Everyone is familiar with the “Pros” list when it comes to Facebook. But what about the “Cons”? What is it that brands should be wary of when venturing to use Facebook to grow their social presence?

First of all, if you don’t want to make an investment, don’t waste your time with Facebook. The network has made it abundantly clear that they have no intention of doing brands any favors when it comes to organic growth. Recently, it was made public that Facebook intends to decrease the organic reach of Pages – reach without any ad dollars spent – to roughly 1%. What’s more, certain tactics that have been used to game the system for some time (such as the “Like” vs. “Share” posts) will soon be penalized. So for brands thinking that it will be easy (or, for some foolish reason, free) to grow their brands on Facebook, they will not find the network particularly beneficial after just a short while.

Twitter

Twitter has made a lot of strides when it comes to the benefits for brands. The introduction of Twitter Cards has made interactive content much more readily available and inspires increased engagement with target users. Twitter also recently announced over a dozen new ad features, which will certainly be beneficial to brands. Then there is their most recent announcement about real-time communications (like Facebook chat). Twitter is going above and beyond when it comes to providing new ways for brands to use the platform. But what might hinder your desire to use the network?

Well, for starters, everyone is thinking the same way you do: I can just share my brand’s message a thousand times a day and get people to click through to my page! While it’s true that this is an option, no one will see what you have to say. And as more brands go with this approach, fewer users care to follow brands at all. The most difficult part about Twitter is the content strategy. 140 characters can be used extremely well or very poorly. It all depends on how you plan on getting your message out. What is going to entice the audience you wish to target? And when it comes to targeting, the same problems exist on Twitter as they do on Facebook: you’re going to have to be willing to spend money. A lot of those benefits listed in the paragraph above are really only apparent if you’re using Twitter’s ad platform (which is an excellent one). So if you won’t invest, you won’t succeed.

YouTube

Obviously, if you plan on sharing videos, you don’t have a choice but to share them to YouTube. You might prefer Vimeo or some other video sharing platform, but the reality is that these other platforms aren’t owned by Google. (One of the benefits of owning the Internet.) Sharing videos (that are properly optimized) on YouTube can mean increased search rankings, and linking your other networks, website and Google profile to your YouTube channel can mean some incredible benefits to those rankings. And all of that can happen very fast.

The drawbacks to YouTube are in the numbers. The longer your video, the less likely it is that people will watch it. The more boring your video (i.e. all corporate videos) the less likely people are to watch it, and the more likely they are to make snide comments. With so many hundreds of lifetimes of content available on YouTube, you need to really pull your audience in right away. Anything more than eight seconds, you’ve lost them. YouTube also cannot stand alone. Without the help of your other channels and your website, it is unlikely that your YouTube audience will grow. Again, with so much content available, people simply are not going to find your videos organically. At least, that is the case for most brands. Lastly, video sharing networks in general are not for every brand. Videos are (or can be) expensive and time consuming. And much like a blog or website, you’ll need to continue producing new content in order to find your channel on top. If you don’t feel like this is something your brand can do, don’t create a blank YouTube channel; that’s a worse option.

The professional network that every eager entrepreneur or seasoned veteran is using has some pretty obvious benefits. For starters, it’s full of professionals, many of whom have common interests. For individuals, it provides an excellent platform on which to build out your professional network, and for brands, it means garnering support and exposure within your industry or from potential investors. The latter item in that last point is especially true for B2B brands looking to make a splash and reach decision makers.

There are two problems, however, with LinkedIn. First, their ad platform is a little archaic. Targeting capabilities are excellent, but people have become accustomed to ignoring right column ads, and that’s where the majority of your ad dollars will go. Second, LinkedIn hasn’t quite yet figured out how to create value for Company Pages. Sure, they’re great to feature your brand and some of your services, but there is nothing to really pull people in. To their credit, LinkedIn is now in the process of revamping Company Pages (they just removed the poor-performing Products & Services tab) and have been working to make it a content publishing platform. That said, while the network is an excellent resource in which individuals can share content and expand their network, it still has not found that “it” factor for the brand itself.

Google+

Google+ is an invaluable (yes, as in has so much value, you can’t even assign it a number) tool when it comes to increasing your exposure. Why? Much like YouTube, it is a Google product so it has to be used and it has to be used well. It also has a huge customer base outside of the United States, so brands with an international presence can leverage the platform to reach a global audience. The Communities feature on Google+ also offers users a great way to connect with like-minded individuals, and allows brands to share relevant content to an already engaged audience.

The biggest problem with Google+ is that everyone knows they need to use it, but a lot of people are having trouble figuring out how to use it. As such, much of what you see on Google+, particularly in Communities, is self-promotional. Only the truly devoted Community Managers keep their networks clean from spam. But it still makes its way in there. There is also a lack of strong analytics with Google+ Pages. Of course, Google Analytics is designed to be integrated with the network, but unlike Facebook, Twitter, LinkedIn and even YouTube, another Google-owned property, Google+ doesn’t provide much more than superficial data. So if Analytics are important to you – as they are to most people – you might find yourself a little disappointed with Google+.

Conclusion

Every major network has its positives and its negatives. And depending on your brand and what it is you want to accomplish by leveraging social media, your choices are going to be different. But it’s important to remember that a successful program does not mean a presence on every single network. A Pinterest board (and yes, Pinterest was a consideration to be added to this list, but frankly, the article was running a little long) with a handful of images that is infrequently updated has less value to a brand than no Pinterest presence whatsoever (in many cases).

So to sum up, consider your goals, the strengths and weaknesses of each of these networks and what the best course of action is in order to achieve those goals in the shortest timeframe possible.

What network is your most beneficial for achieving your goals on social media? Tell us in the comments below or on Twitter!

The Fallacy of Social Media ROI with No Investment (or “I”)

April 7, 2014/by Corey Padveen

The idea of generating social media ROI without investing in social media is a novel concept; that’s mostly because it is completely irrational.

One of the favorite sayings of economists is as follows: “There ain’t no such thing as a free lunch.” Some attribute the adage to a practice that started in the Old West where patrons at saloons could receive a “free lunch” upon the purchase of a beer. This lunch, of course, would consist of salty ingredients, which in turn would lead to the patron buying several more drinks. (Why do you think there are peanuts, pretzels and popcorn given out for “free” at most bars?) From an economics point of view, the saying relates to hidden costs and externalities; even if you think something is free, there are economic costs that go into it.

This has been true in business for generations. So why do marketers and business owners now think that they can reap the benefits of the “free lunch” offered by social media marketing?

When it comes to running a social business, there are several costs that a corporation will incur. These can either be material costs – like ad spend – or immaterial costs – like adaptation time. All that to say is there are costs we need to consider when undertaking a social media initiative, and we need to accept that these costs are unavoidable if we wish to reap the benefits that social media can offer.

The four costs listed below are by no means the only ones that businesses will incur over the course of a social media campaign or program. That said, these are fairly standard, and businesses should be ready to factor them into the cost of doing (social) business.

Time

So often this is an investment that is quickly overlooked. It is hard to imagine why. What happened to the self-confidence of the average businessperson? Your time is an extremely valuable asset. Take it into serious consideration when determining the costs of running a social media program.

How much would you be making per hour if you were not toying away with Facebook marketing or writing your blog? Is the return going to justify how much time you are investing in these activities? Too often when calculating costs, individuals forget about all the time that needs to go into effectively executing a strategy. Give this cost serious consideration whether you are a one-person operation or a large organization.

Tools & Technologies

OK – this is an easy one. While some tools and/or technologies are free – generally those integrated into a social network or larger company, like Facebook Insights or Google Analytics – the majority of social media tools are standalone companies. That, of course, means that they need to make money in order to stay in business. So with the exception of a few, you are going to need to make an investment in tools.

With so much happening in the world of social media – and so much happening so fast – a tool can be a wonderful complement to a strategy. But the key thing to remember is that your tool is a complement, not the program. Though many technologies boast themselves as being the godsend application to rid you of all your social media woes, most simply offer a solution to one (or a select few) issues. You still need to put in the work.

Social Ad Spend

Another fairly simple one. But it is one that, again, is completely forgotten. Not because people do not realize that they have to invest in advertising, but because they think that they to not need social media advertising. This is a key component behind many brands having trouble finding success with social media. It also relates closely to the concept of the “free lunch” and the misconception of the true cost when it comes to investing in social media.

The Golden Age of social media marketing, where brands could generate huge awareness and boost sales without so much as a penny spent on ads is, sadly, dwindling. Of course, this is still possible – but only to an extent. Much like the tools discussed above, networks like Facebook, Twitter and LinkedIn are businesses. These businesses all have (hugely inflated) valuations and need to find a way to justify those price tags to investors. The answer? Charge businesses to access their huge reservoir of potential clients. This is why we are seeing things like the near-extinction of Facebook organic reach. Brands are going to have to pay-to-play. There is still a tremendous amount of potential when it comes to social media marketing. You’ll just have to invest in advertising in order to reap that social media ROI.

Adaptation

Much like time, adaptation is an oft-overlooked cost that businesses will have to incur whether they notice it or not. Transitioning into a social business is no easy feat. It requires dedication, perseverance, and perhaps most of all, willingness to change. Social business is not business as usual; it is a whole new way of conducting yourself in the marketplace.

Image Credit: Shutterstock. Used under license.

This is something that takes time to adjust to and that time needs to be factored into your costs. The decision to become a social business is a smart one, but one that needs to be undertaken methodically so that you do not become overwhelmed by everything that needs to be done. Figure out what you know and what you need to learn based on the goals of your strategy, and determine the cost of adapting to this new way of doing business.

Conclusion

One of the greatest values of running a social business is that virtually everything is measurable; while some criticize traditional operations for its lack of exactitude, every last detail can be attributed in social thanks in large part to big data. What’s more, communications and overall business costs are reduced as a result of becoming an effective social business. That said, there are still costs, and we can’t forget that costs are a natural part of doing business. Don’t be afraid of the “I” in ROI – that is what is going to generate the “R”.

What other costs have you noticed when it comes to running a social business? Tell us in the comments below or on Twitter!

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