Social Media will continue to be a force in gaining market share and promotional execution. Word of mouth if properly positioned with a compelling promotion can be a marketing win for brands.
The recent success of Netflix’s The Irishmen or Amazons Marvelous Ms Maisel has experienced this “word or mouth” social media success. The question for CPG Brands is it creating the same to drive purchase? Netflix drove 55M views ( Likes ) within several weeks which doesn’t drive instant $’s but via that success can lead to subscribers. This is yet to be determined.
Gillette just entered a controversial advertisement with a change in it’s users to take action against bullying and sexist advances. I’m sure from a marketing perspective it will get the same “word of mouth” bump that Netflix got. This will lead to massive viewing of the brand but not always leading to purchase?
The numbers and the purpose of social media are real and staggering. Proof is the Fandom marketplace is driving the numerous growth for content and the places that deliver them. Fandom is the fastest growing shopper group in the marketplace. Fandom growth outpaces Facebook growth within its site.
63% Millennials (40M in the workforce) get their Brand updates on Social Media. They are now the generation with the most spending power. They shop, dine, and travel in groups more than any other generation. 23% are married and 30% still live at home!!
How do they differ than Generation X?
72% of Gen X use FB to connect (65M Gen X’ers ) . 50% are married and majority own a home. They have 29% of estimated net worth..lots of spending power!
However with all this growth in social media most companies are still using Social Media for education and customer service.
Latest studies show that there is no positive data supporting an intent to purchase , just because shoppers like you or a post you execute. Social Media must be integrated into you total marketing/sales efforts for any ROI.
Social Media is only going to get bigger with more sites and ways to integrate your content in 2021. It will be a full time job for someone in your organization or your agency to manage. Insist and design a full accountabilty process for this spend that has power to integrate into your total category, department or store. Connecting this department with your sales force is essential to train sales personnel to make social media a sales tool.
New tools are always upgrading the industry to manage and keep your content consistent via all these social sites. The opportunity to brand social media apps or programs will be a new way to have your brand sponsor an online/mobile marketing event. Hollywood premiers are a perfect way for your brand to be the keeper of the keys for an online event.
The big question is do you want to spend your dollars on “information heavy” sites or “shopping mind set” sites. A strong balance of both is preferred, but many “new” online marketers are steering away from the “appeared” costly media buy where heavy shopping is done.
Spend where the shoppers are in a shopping mode. Consider spending in area’s that socially ease shoppers into your brand. We call it “the comfy couch” in our digital plans. Personal relationships can be built in these less frantic areas that encourage sales when shopper is in the shopping mode.
2021 will be a expanding year for brands to ramp up content and programming budgets in social online marketing. Since this arena is going to grow, take the time to have your brand teams or agencies think out of the box. Digital will take over traditional TV advertising as it has print.
Online is the perfect place for your renegade teammates to fire some flames into the playing field and light up the marketplace. Make sure you will not be part of a huge wave of noise that unengaged consumers have to muddle thru.
Opportunity in restructuring your group with a media specialist , outsourcing content, and a strategic blend of an e-mail/social technology cocktail, will be just what the Doctor ordered for your new year fitness plan.!!!
Contact us for idea’s to make social media work for your brand and your customers.