25 Oct A Guide for CMOs on the Integration of Social Media with Traditional Marketing
Digital transformation has shown a new face of marketing.
With the increased use of electronic gadgets and the IoT (Internet of Things), the gap between businesses and customers reduced to a great extent. Finally, businesses had realized the importance of digital marketing and started hiring in-house digital marketers.
Marketing mostly deals with the advertisement and promotion of the products. Marketers should make a continuous search for the platforms where they can interact with more people. In this context, social media evolves as the next big advertising platform after television and print media.
And in reality, it goes beyond them.
Social Media Marketing and Strategies
Nicholas Lamphere of Harvard University defines social media as “a media for interaction using highly accessible and scalable publishing techniques.” Social media acts as the nexus that connects around 2 billion netizens worldwide. Seems, social media is a treasure of potential customers.
Simply, leveraging the social media networks for business is called social media marketing. If you are a blogger, you can generate traffic for your business. A services or products business can advertise and promote their services and products. These are the several ways that businesses can use social media.
Your strategies depend on the niche of your business. There are so many social media networks available. Each platform serves in a different way for marketing. So, you have to determine which platforms serve the best for you.
Social Media Integration in Businesses
Social media is the perfect place for brand promotion, lead generation, customer support, and customer relation management. The number of social users increases rapidly and so is the investment of businesses.
As per the recent reports of the CMO’s survey, the social media spending of businesses is above 10% now. And it seems the spending may rise drastically. According to the report, the spending will see some 3% rise by the next 12 months and will be doubled in the next five years.
In the below infographics, you can see the social spending of B2B in 2016:
In the below table, you can see the social spending of B2B and B2C businesses:
If you observe the table, B2C services are investing more on social media marketing when compared to other businesses. A great exposure to the audience is the reason for this.
Well, the spending is in a healthy state. When they surveyed about the integration of social media marketing with their marketing strategies, the results are not so encouraging. CMOs are still failing in implementing strong social media strategies.
Here is the report of the CMO’s survey where they inquired the chiefs of around 289 businesses in the US about the integration of SMM strategies with their business.
They scaled up the answers from 1-7:
- 1 being not integrated.
- 7 being well-integrated.
- The mean level of the integration is 4.2.
As per the social media marketing industry report (Michael A. Stelzner, 2016):
- 23% of social marketers strongly agreed that they have integrated social media strategies with their traditional marketing strategies.
- 58% marketers simply “agreed”.
- And 40% of marketers feel that SMM has become harder than it was a year ago.
In such a case, social CMOs should hone their strategies to get the best outcomes from social media.
What should the CMOs do?
The Younger generations are more familiar with the social media networks. A junior employee can know more about social media sites when compared to the CMO of the business. We can call the junior staff as digital natives.
They can create good business pages on various social sites. A digital native can make outstanding content. But when he doesn’t know the way to getting better results and fulfill the purpose of marketing. They need guidance. It is the undeniable fact that marketing, be it traditional or digital, deals with strategies. And this is why a social CMO, whose primary responsibility is to make strategies, is there for social marketing.
So the CMOs should keep three things in mind for better social media outcomes:
1. Give a break to the figures
Most marketers are thinking about their social media figures:
- Facebook likes
- YouTube views
- Twitter retweets
- +1s on Google Plus
Of course, these figures are important. But they are not the ultimate results.
The count of people you have doesn’t matter but what you do with the people matters. Just guide your digital natives on increasing the likes. They will take care of it. And you have to focus on how to turn the social audience into your loyal customers.
2. Enhance the social skills of your staff
As a CMO, you are the driving force of your business’ social media success. But alone you can’t make everything. As said earlier, your junior staff are so active on social media. So, nurture their skills with proper training on using social media for business.
There are many social media management tools that can manage your campaigns and help in generating leads for your business. Train your staff on using the tools effectively. Let them know how to determine the targeted users and make conversions. The mix of strategical skills and social media skills can make miracles for your business.
3. Measure the performance
Well now, you are ready with great social media strategies and a well-trained team. And making good campaigns on social media. But how could you analyze your performance?
Different businesses have different goals in social media marketing:
- Some marketers want to increase their brand awareness.
- Some want to generate leads.
- Some want to make more conversions.
As a CMO, you have to maintain a checklist of what are the outcomes that you want from the social media marketing. We can call the checklist points as key performance indicators. There are many such KPIs. To check whether you are making any difference in your marketing, there are some important KPIs. Let’s have a look at them:
key performance indicators
1. Rise in engagement
As said above, different marketers need different favors from social media. Facebook likes matter for some marketers and YouTube views matter for some. The increase in the parameters indicates your success.
If you are a retail marketer, measure click-through rates. Measure CTR for your content on social media and for your sponsored posts. A rise in these parameters shows the increased visibility of your business on social media.
If you want to use social media for CRM, measure the feedback you are getting the support you provide on Twitter or Facebook.
In terms of digital marketing, getting someone performing the desired action is known as a conversion. In a way, getting a response for your call-to-action is the conversion, a key performance indicator.
For example, you want to increase your registrations on your website. You use a call-to-action ‘Register’ in your campaigns. Then the number of registration you get from the campaigns is the measure of your performance.
You have to measure two types of conversions:
- Conversions on your website.
- Conversions on social media.
You might try different types of content on your website to attract your users. Determine what kind of content gets you more conversions. And try making more such content.
On social media, you might have tried with different features and campaigns. Measure how much budget you have allocated for the campaign and plan how to manage the budget depending on the performance.
3. Sentiment analysis
As people are so expressive on social media, you can easily measure the sentiment. Knowing what public is talking about your brand is the important thing.
As a CMO of a business, you are responsible for the reputation of your brand. So, you have to know what your users are talking about your brand. There are many tools that analyze the sentiment using natural language processing that analyzes who are talking about you and what are the words they use.
ROI is possibly the most important KPI.
When you are investing valuable time, money, and effort, it is so important to make sure you are getting worthy returns. As per the social media industry report:
- Only 41% of marketers said that they are able to measure ROI.
- 37% of marketers are still uncertain.
But social media is not just for posting and getting likes. This is a great platform for generating huge leads for your business and driving more traffic to your website. And this doesn’t happen so simply. It costs you time, money and resources. You have to get the best possible outcomes from social media. So, CMOs should measure the ROI on social media.
Awareness, targeting and lead generation which are being the prime things of marketing got easier with social media marketing. As of now, there are around 2.35 billion social media users in the world. And it is predicted that there would be 3 billion social media users by 2020. So, the chances of reaching your targeted users are increasing with time.
So integrating social media marketing with your traditional marketing strategies should become the most prioritized task of the CMOs. They should use their young talent to implement potential strategies to make a prosperous business in the digital era.