According to eMarketer, Social media ad spends will reach $37.7 billion worldwide in 2020. That’s more than double the $15.6 billion that was spent in 2016. Suffice it to say that social is still growing and is showing few signs of slowing down. But with that growth comes a glut of self-proclaimed experts or, heaven forbid, ‘gurus.’ How do you avoid putting the keys to your castle in the hands of an idiot? Take a look at what they’re not saying.
1. The number of fans/followers you have doesn’t matter. Once upon a time, you could post an adorable cat meme to your social pages and watch the engagement pour in from your legions of fans. Today, not so much. Having a bunch of fans/followers is now akin to having a bunch of friends who never hangout with you. Organic reach now hovers around 1-2% for most brands across channels (meaning 98-99% of your fans never see your content). There are exceptions, including publishers (think The New York Times or The Onion) and celebrities (think DJ Khaled or any Kardashian). But if you’re a business with a product to sell, odds are you might still be spending a lot of time and money on acquiring fans who will never see what you post. And yes, that now includes Instagram.
2. Twitter is useless. Twitter stock once sold for $69 per share; today it sells for $40 - and was once as miserable as $15. On the flipside, Facebook once traded for $18 per share (in 2012) and now trades for $184. Why? Because Twitter sucks if you’re trying to grow a business on it. Their ads are more expensive than their social counterparts (and less capable), the platform is less used and less engaging, and the volume of content is so abundant and disorganized that even if you did post something spectacular, chances are no one saw it.
3. 90% of purchases via social (FB) come from users who never click an ad. Facebook released a conversion lift test in 2015 that was designed to show the true impact of ads run on the platform, beyond what could be tracked by clicks. What they found was that users who saw ads from brands in markets where no other media was running were still buying things from the brand, even though 90% never clicked on the ads they saw. The takeaway? Don’t judge the success of your ads based on clicks alone – look at the bigger picture, and evaluate your media holistically instead of in a vacuum.
4. Your business probably doesn’t belong on Tik Tok, Tumblr, Twitter or even Pinterest. Not every shiny new social toy is right for your brand. This tends to plague many businesses who have an inferiority complex about their ability to market their business. Instead of being a master at one or two social channels, they spread themselves across several and instead fail at all of them. Look long and hard at what your business does, and who it sells to. And select your social channels accordingly.
5. If you’re posting every day, you’re posting too much. The reality is that most businesses don’t have that much to say, and that’s okay. Brands were posting across channels nearly once per day or more a couple of years ago, but as of late, we have actually seen brands posting less often, but with higher quality. This has helped per-post organic performance, but it’s also a reaction to social becoming almost exclusively a pay-to-play space for brands (if you want to be seen, you need to run ads). Specifically, that means a brand could theoretically only post once or twice per week, but be far more impactful than any brand posting on a daily basis because their ad budget allows them to go beyond their own pool of fans, and at scale. So, less is more.
Agree or disagree? Leave your comments. And if you’re interested in talking more, email me directly at email@example.com. Thanks for reading!