The Great Social Media Bait & Switch
by Tony Quin, IQ / May 22, 2014
Note: This blog entry is available in English only.
The social media free ride is over.
Brands are either hip-deep in social media or in the process of getting there. At the center of it all, of course, has been the astonishing rise of the big social platforms. With millions of users at the ready, brands have jumped into this candy store with both feet.
But now their addiction to the free sugar threatens to backfire: It appears that it’s time to pay the piper.
What’s happening is that Facebook is ratcheting down the number of people who can see a post within a brand’s Facebook community. At the moment, only 2.1 percent to 6.2 percent of a brand’s community will see a brand’s post (see chart, below); according to research conducted in February, the amount may go to zero before too long.
That means those huge communities of “likes,” which brands have spent millions to build, will be worthless unless they buy Facebook ads to reach their fans.
Of course, the big social networks need to make money. I suppose they could ask consumers to pay for the privilege of using their platforms, but that wouldn’t go very far.
As Jason Loehr, director of global media and digital marketing at Brown-Forman, which has millions of likes on its Facebook pages, described to Digiday: “This is business, after all. It was more of a wake-up call for the marketer that platforms are a ‘leased’ channel. And there are downsides to renting, not owning.”
Loehr went on to say,“It’s not just them, it’s going to be Instagram, it’s going to be Pinterest, it’s going to be Twitter, it’s going to be all of those guys. At the end of the day, they have shareholders to answer to.”
To add insult to injury, research from Forrester shows that social engagement is much more effective than ads. So what’s a brand to do?
The New Social Marketing
Just because brands might not be able to leverage all of those likes on Facebook for nothing anymore doesn’t mean the social marketing party is over. It also doesn’t mean that brands will be forced to pay for notoriously ineffective Facebook ads. Instead, it signals that brands need to refocus on their own digital ecosystems–all of the pieces of their digital marketing infrastructure that they can control without paying someone else.
The good news is that within a its own ecosystem, brands can still take advantage of the power of social posting to attract new prospects and cultivate rich relationships–all without paying a dime for access.
It also means that “owned” media properties are more important than ever for brands. That includes brand Web sites, mobile sites, apps, content, blogs, CRM, and email. If they haven’t done so yet, the time has come for brands to create their own communities built around the content and functionality they offer on their own properties.
With the social networks devolving into just advertising networks, brands have to first maximize the most effective and efficient media opportunities open to them–their own communities.
The brand Web site lies at the heart of the owned brand ecosystem. It has three missions: It should be where prospects get the most persuasive, comprehensive, personalized pitch; where customers can easily accomplish account tasks, and get social community and knowledge; and it should filter other constituencies, such as investors, employee candidates, and press, and get them to the right place.
The brand Web site is also where a brand should build its CRM database, enable brand ambassadors in social media, and attract natural search with content. It should be the hub of everything a brand does not only because it can be controlled, but because it’s where consumers go anyway. According to the 2013 Nielson “Trust in Advertising” study, brand Web sites have become the most trusted form of advertising.
The idea is to build a system. You start with your Web site, which you populate with content designed to attract search. Search and advertising deliver prospects, who you convert into your sales pipeline or your CRM program. Your CRM program uses email and content to cultivate them over time, and you enable social sharing of that content. The result is a self-sustaining marketing system that you own.
Content Deja Vu
The hardest part about building this system is creating the right content. That includes not just articles, pictures, and videos, but also tools, apps, and functionality. Most marketers have already figured out that content is critical–so much so that the amount of all kinds of content being created is enormous.
The challenge is, therefore, to stand out and create content so compelling, relevant, informative, and entertaining that people will want to share it. To begin, every brand needs to develop a first-class content strategy. This guides what to say to each persona at every touch point, and how to say it. Guessing is not an option.
So perhaps the free ride on social media is almost over. Now we all have to work a little harder for our supper. The good news is brands are all a lot smarter and have the tools and experience to build brand ecosystems that can do the job better than ever before.
– See more at: http://blog.iqagency.com/great-social-media-bait-switch/#sthash.IEowZDO4.dpuf