Facebook is undoubtedly the leader of the paid social media channels. But as more and more brands are investing on Facebook, its cost of advertising is rising gradually.
On the other hand, social media platforms like Pinterest, LinkedIn, Twitter, and Instagram, among others are gradually occupying the limelight with their increasing user base.
That’s why the experts of any professional internet marketing agency are advising businesses to shift their resources to other social channels. This, according to experts, shall help businesses to garner more leads and develop a holistic paid social strategy.
However, before starting, we must state that you should wait patiently to get substantive results from these channels. For unlike Facebook, these channels may take more time to show an impact on the conversion rate.
Nevertheless, with continued investments in such platforms, you will get the desired results.
Did you notice we mentioned “continued investments”?
It means we are talking about long term engagement.
Now, how long can you continue to invest on so many varied platforms! Sounds impractical, right?
Yes, that’s why you need to select a proper channel based on your business goal. Especially, if you have recently launched a start-up and do not have enough resources unlike large enterprises to invest in all the platforms. This way, you can save some precious bucks.
So, let’s dive in!
Suitability of Campaign Goals and Platform
1. Brand Discovery and New User Growth
If you seek to drive new user acquisition, you may consider Pinterest.
As per the Pinterest team, it has over 320 million monthly active users and 72% of them discover new brands through the pins.
2. Branch Opening or Event
With over 1 billion monthly active users (source: Oberlo), Instagram is the perfect place to promote an event that a brand supports or organizes such as a grand opening of stores.
3. Enhance Engagement and App Installs
With 330 million monthly active users, Twitter is gradually coming to the forefront as a potential promotional platform.
This is the perfect place to write short promotional content and catch the attention of the target audience with innovative hashtags. Here, you may also promote apps and drive more downloads.
4. Lead Generation
LinkedIn is suitable for those operating in the B2B space. LinkedIn’s Lead Gen Forms are pre-filled with the members’ profile data. These can make it easy for advertisers, like you, to generate high-quality leads or customize promotional content with accurate data.
5. Brand Reliability
A video of your product or service can create a greater impact on the viewers’ minds. It evokes a sense of brand reliability and emotional attachment. YouTube is the ideal platform for this.
Other than these social media channels, we must mention another platform that is yet to receive the limelight- Reddit.
With 330 million active monthly users (source: Foundationinc), this platform is offering a unique opportunity for brands to expand their user base.
One of the significant features in Reddit is upvoting. If your post receives enough upvotes, it becomes more popular and can make it to the front page of Reddit for more people to see.
Take advantage of this feature if you seek to promote a new product.
Okay, so you have now understood how to use various social media channels to accomplish different brand objectives.
But that’s not enough!
According to the experts at any PPC management company, you need to monitor the performance of your campaigns on these channels, if you don’t want to drain your resources.
Remember, no two social media platforms are the same and they shouldn’t be judged by the same Key Performance Indicators (KPIs).
And only the revenue or return on ad spend is not always the ultimate parameter of success for these channels. You need to take several other metrics into account while developing a long term paid social campaign strategy.
Here, we will mention some of the important metrics for each social channel that you need to keep an eye on:
1. Engagement Rate
This is the number of engagements that an ad receives (for instance, clicks on icons or card teasers) divided by the number of times it’s displayed.
2. Impressions Click Through Rate (CTR)
It measures the video’s ability to compel people to watch the video after they see it on the homepage, recommendation, or trending sections. A high CTR indicates that your title is engaging and relevant.
It measures the characteristics of people who are interacting with your ads and following your page. Through this metric, you can get information like their country, region, industry, employment status, and others.
Unlike other social media channels, LinkedIn displays extensive information about the users’ professional lives and work.
You can later use this information for other platforms as well (say, for email marketing).
2. Unique Visitors
The Page View metric increases every time a user visits your page, even if he or she is visiting for the second time during a certain period. Unique Visitors metric, on the other hand, considers that person to be a single user, regardless of how many times he or she has visited the page.
For instance, say a user visits a page once on a Sunday morning, then again on the night of Tuesday. This will be counted as two page views but one unique visitor.
Keep an eye on how many new visitors you are acquiring.
1. Follower Growth Rate
A high follower count is amazing to enhance brand credibility (and honestly, it also boosts ego!), but doesn’t reveal much about your Instagram efforts or the efficacy of your marketing campaigns.
On the other hand, the Follower Growth Rate gives an idea of whether the business is expanding its reach and grabbing the attention of new people.
To put simply, the change in your follower count matters more than the actual number of followers while evaluating your Instagram performance.
Let’s analyse it with an example. If you start with 600 followers and get 60 new followers in a month, your growth rate is 10%, which is excellent.
But, if you have started with 6000 followers and received 60 followers in a month, the follower growth rate is 1%. It’s time to try a new Instagram marketing strategy or engage an agency providing professional digital marketing services.
2. Follower Engagement Rate
You need to track the engagement metric to learn how many followers are interested in your service.
This metric is more important while evaluating a partnership with an influencer. You really don’t want to pay for a sponsored post that doesn’t have much engagement, right?
Just as with the follower count and growth rate, taking a glance at the raw numbers won’t help. You should compare the number of comments and likes with the size of the audience on the account.
An example will clarify this.
A post with 75 likes seems to be a substantial amount of engagement but if the profile has 30,000 followers, the engagement rate is 0.25%.
On the other hand, if you get 30 likes and comments on a profile with 400 followers, the follower engagement rate is 7.5%.
You got the picture, right?
1. Hashtag Performance
How can we talk about Twitter without mentioning hashtag! Today, it’s almost impossible to run a successful social media campaign without having some catchy hashtags in your toolbox.
Before sticking to some specific branded tags to generate brand awareness, it’s important to run A/B testing on some of the hashtags to see which one is generating better results.
By learning which tags are more engaging, you may ensure that the next campaign is tailor-made and more effective.
2. Engagement Rate
The entire point of being active on social media is to establish a connection with your audience. A quick look at your Engagement Rate will reveal whether your efforts are successful or not.
Follow the simple steps: Twitter Analytics > Tweets Dashboard > Engagement Rate and keep an eye on the number of people who:
1. Pins From Your Website
The Pin metric indicates the daily average number of pins from your verified site.
It will help you determine whether the visual content on your site is appealing enough for your web visitors to pin to your boards.
If your content doesn’t get as many pins as you had anticipated, it’s time to add more relevant and interesting visual content to your site.
2. Most Clicked Content
To assess which pins from your Pinterest account are driving traffic to your web properties, click on the Most Clicked Tab on the Pinterest Analytics dashboard.
This knowledge will help you to generate more relevant content.
Here are some other social media metrics that you should start monitoring anytime soon.
With all these insights, creating a killer campaign is only a matter of time... or maybe, a matter of engaging the right digital marketing company offering social media marketing services.
For any kind of assistance, feel free to reach us!