Media Buying

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Being a social media strategist, when a client asks what social network should they use for their social media marketing, I have to come up with an answer.  Of course I can give them an answer based on personal social media achievements, but what I do for my own benefit isn’t necessarily the best choice for their business.  If you’re seeking to find an answer to this conundrum, please continue reading.

I often compare social media marketing to traditional advertising.  Before you disagree, think about what traditional advertising is. Traditional advertising consists of purchasing the right media (magazine ads, TV ads, billboards, radio, etc.) to communicate your message to your target audience.  The main goal of traditional advertising is to achieve the maximum ROI. Right?

The only difference between social media and traditional advertising is the media used to communicate your message.  Which brings us back to the the million dollar question, which network is going to be best for your business?

Here’s how you answer that question:

Identify Your Target Audience

Although you may think it’s silly that I’m mentioning this, a lot of businesses join social networks and communicate with people that have no interest in their company and are not in their targeted demographic.  Determining the intended audience is the foundation for your social media marketing strategy.  Skipping this step will result in wasted time and money.

Find Out Which Networks Your Target Audience Use

There are plenty of case studies and statistics on the internet on the various social media networks.  Your target audience may not use Facebook, Twitter or LinkedIn. Contrary to what all the social media experts say, the “Big 3″ aren’t the only forms of social media.  Forums, microsites, or other types online communities work just as well.  Doing your homework to find out how your audience prefers to communicate can make the decision process a little easier for you.

Learn the Lingo

If your audience is college students, you have to know how to talk their language. Times are changing and the vernacular used by college students now are different than ten years ago.  Saying the right thing in the wrong way will cause people to tune you out.

Test Drive the Network

You don’t purchase a car without driving it and you don’t buy shoes without trying them on.  You have to know how to use the network before launching your social media marketing plan.  Setting up a test profile and using just about every feature there is to offer is a great way to educate yourself on what the network has to offer.  Who knows, you may have the ability to inform someone about something they didn’t know (massive cool points for you!).

Locate Third Party Applications

There is a large number of third party applications for Twitter and Facebook.  A simple Google search will assist you in finding some applications that may work for your business.  From something as simple as a feed that posts new blog postings to Twitter, to a fundraising application for a cause on Facebook, there’s some interesting applications out there that you can put to good use.

Measurement and Maintenance

Social media is about interaction and fun, but there’s a serious side to it too. Monitoring your network and keeping a fresh, active group of people involved in your network ensures ongoing communication.  Determine how you are going to measure your campaigns performance and let your network know you are open to feedback.  It’s the only way you’ll grow.

Determining the right social network for you may take some time, but following these six steps will get you off to a good start.  Don’t be dismayed if the results you want to see aren’t immediate.  Social media is about building relationships and gaining trust.

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Intel Corporation decided to spend big on Super Bowl ads, and now executives are logging onto social networks to see what the consumers thought of their ads.

Intel not only paid almost $4 million dollars for the two advertisements during the game, but they sponsored the post-game show.

Intel’s social media team watched Facebook, Twitter and uploaded their commercials to YouTube immediately after they aired.

This is a very interesting approach taken by Intel.  Their approach answers my question in an indirect way.  Social media is definitely changing the landscape not only for marketing, but also feedback and market research.

Prior to social media going mainstream, companies would have had to send out survey’s or monitor sales for audience response to their advertisements.  Now, the feedback is instantaneous.

Twitter and Facebook may not last forever, but social networking is staying for a while.

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Looking back to 2009, it was a devastating year.  Millions of people became unemployed, many businesses closed, and budgets were slashed.  In a recession, the first budget to be cut is marketing.  But, isn’t marketing and advertising one of the main reasons you have customers?  If no one knew about your product/service, would you even be in business?

Looking at expenses, the marketing budget may be the last thing you want to increase, but it’s necessary.  Increasing your budget is sensible when your marketing is done efficiently.  Frivolous spending will lead to little or no response.

Here are three tips to efficient marketing with an increased budget:

Prospect, Prospect, Prospect

Identifying your target audience can be a strenuous job, but it pays off in the end.  In high school, my biology teacher had a poster that read, “If you aim at nothing, you will hit it.” In marketing and advertising, that statement couldn’t be more true.  You have to aim at an audience that will respond to your ad.  If you are sending out direct mailings, would you waste your money on purchasing a list for a zip code that doesn’t match your demographic.  You have to identify your target audience and aim to maximize your ROI.

Listen and Deliver

In the world of social media, you can get an idea of what your customers want.  They feel their opinion matters to you, and it should.  You have to take into account of what your customers want because they can easily take their business elsewhere.  You have to meet their demands (within reason).  If they’re saying they want more apples, and you deliver oranges, they are going to go on a search for apples.  Spend a little time interacting with your audience on the social networks and you’ll see what marketing they pay attention to.

Be Creative

Make your campaign memorable.  A memorable campaign can easily become viral in today’s world.  McDonald’s did a great job with their singing fish last year.  It was a hit on YouTube and Twitter, and people everywhere were talking about it.  Don’t be afraid to step outside the box.  It can be the best money you’ve ever spent.

An increased marketing budget has to be handled carefully, but smart marketing will pay for itself in the long run.

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Shirley, our VP of Business Development has a place on the window outside her office for all the “Really Bad Ads”. She finds these bad ads in newspapers and magazines. Some of them, you aren’t even sure what product is being promoted or what the company even does.

To keep the “Really Bad Ad” tradition alive, I figured I’d scour YouTube for a few “Really Bad Ads”. Sit back and enjoy!

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