Future Implications

The social media landscape is continually changing.  But there are some trends that will continue to grow substantially through 2016 and 2017 that you can take advantage of.  One of those trends is video.  70% of companies report that video is one the most effective marketing tools within their social media portfolio (Holmes, 2015).  Meanwhile more than 7 billion videos are watched daily on Facebook and YouTube.  Animoto has a 2015 video marketing cheat sheet you should definitely check out.  Just a few highlights from their survey of 1,000 participants reveals the following (O’Neill, 2015):

  • Consumers would rather watch a video about a product vs reading about it.
  • Consumers highly value video that demonstrate how a product and or service works.
  • Consumers are more than likely to read email newsletters which include links to video, thus boosting email marketing campaigns
  • A majority of consumers prefer to watch a video more than once before making a consumer purchase.
  • Nearly 2/3 of consumers prefer videos under 60 seconds.

Why is video so effective?

  • Video grabs attention
  • The brains processes imagery 60,000 times faster than text, in other words a picture is worth a thousand words
  • Video speaks effortlessly to human emotions and experiences
  • In comparison to text video images offer faster memory recall

Some even suggest that by 2018 video will account for 79% of all online traffic.  In spite of those stats and 80% of marketers seeing video as an important marketing tool only 10% are actually using video content while a large percentage of websites offer no video content at all (Hook, 2016).

What Else Does The Future Hold?
Actually Facebook’s VP Nicola Mendelsohn predicts that in 5 years Facebook will more than likely be all video for many of the reasons listed above.  The company is finding that video format is growing more quickly than originally anticipated especially with new formats such as Facebook’s new live video feature.  For example, live video receives 10 times more comments than prerecorded clips resulting in increased numbers for engagement.  With that in mind over 100 million hours of mobile video is watched by Facebook users per day increasing daily views from 1 billion to 8 billion over the course of one year.  And what about texting? Texting is actually declining year over year in comparison to video (Zillman, 2016).

Summary
So even though video is currently the present it will also continue to be an ongoing trend in the future and one you should definitely look to adding towards your social media mix.

 

References:

Holmes, R. (2015, Dec 9).  5 Trends That Will Change How Companies Use Social Media In 2016. Retrieved from https://www.fastcompany.com/3054347/the-future-of-work/5-trends-that-will-change-how-companies-use-social-media-in-2016

Hook, B.  (2016).  Why Video is So Effective. Retrieved from http://www.replayscience.com/blog/why-video-is-so-effective/

O’Neill.  (2015, May 7).  The 2015 Video Marketing Cheat Sheet.  Retrieved from https://animoto.com/blog/business/video-marketing-cheat-sheet-infographic/

Zillman, C.  (2016, Jun 14). Why Facebook Could Be ‘All Video’ in 5 Years.  Retrieved from http://fortune.com/2016/06/14/facebook-video-live/

 

 

Is your Business still not on Social Media?

Social Media Marketing, what is it?
In a nut shell Marketing is the promotion of a product or service designed to increase sales and revenue.  Social Media is any digital or online platform where one individual connects and or communicates with many.  Online platforms can include blogs such as this one, company or personal websites, Facebook, Twitter, YouTube as well as mobile messaging applications and much more (Kabani, 2013).

Why is Social Media Marketing so important for my business?
Social Media is where the people are, your potential customers and users of your products and services.  Between 49 – 90% of individuals using Social Media platforms have a made a purchase based on someone within their network recommending a product or service. Believe it or not up until 2013 only 25% of businesses had a Facebook page (Kabani, 2013).  By the spring of 2015 Facebook statistics revealed that 41% of small businesses now had a Facebook page (Smith, 2016).  But what about the other 59% of small businesses with no Facebook presence and does your business fall into this percentile?  These businesses are missing out on lucrative opportunities for building their brand as well as connecting and engaging with potential customers.

What is Twitter and why should I use it?
Twitter is a social networking service.  To be more specific it is a microblogging social network.  Say what?  If you’re business is new to social media don’t let the term scare you.  This just means that whatever message you post as a business must be short and simple, under 140 characters.  There are several perks and opportunities to using Twitter for growing your business (Zimmerman & Ng, 2012):

  • It allows your business to build a community and or following of loyal customers
  • Find new customers
  • Have a conversation with your customers
  • Ask your customers questions
  • Provide your customers with customer support
  • Find out what people are saying about your products and services
  • Give out perks
  • Promote your brand visibility and content

What about Facebook? 
The goal of Facebook is simple, it is to promote your brand.  Not only is brand promotion incredibly important but with social media platforms like Facebook, brand promotion becomes more affordable that traditional means of advertising like Television, Print and Radio. For example, Coca-Cola uses Facebook for brand promotion with over 30 million followers.  Coca-Cola is able to reach more customers through one Facebook update and or message vs a television commercial.  Facebook provides much of the same opportunities as Twitter.  It allows you to build your brand through community through interactive content and customer engagement.  It’s a fantastic medium that allows your customers to feel a part of your brand.

Which one should I start with?
The answer to that question truly depends on your target market.  Most businesses appear to start with Facebook based on the platform’s popularity however your target audience might actually be spending more time on Twitter. It’s a case of research, research and more research.  You must research which platform your target audience is using and start with that!  Sproutsocial.com has a great article based on Twitter and Facebook demographics that may help you get started, click here (Jackson, 2015).

More Resources
In future posts we’ll go into more detail with some of the challenges you might face with Twitter like keeping messages under 140 characters and more.  In the meantime Forbes has a great article on getting started with Twitter, click here.   Facebook also has a great beginner’s video for setting up a business Facebook page. You can view the video and getting started steps here.  Check them both out and let me know how it’s going.  Until next time!

References
Jackson, D. (2015, Sep). Facebook vs. Twitter: which is best for your brand.  Retrieved from http://sproutsocial.com/insights/facebook-vs-twitter/

Kabani, S. H. (2013). Zen of Social Media Marketing: An Easier Way to Build Credibility, Generate Buzz, and Increase Revenue (3rd Edition). Dallas, TX, USA: BenBella Books, Inc.. Retrieved from http://www.ebrary.com

Smith, C.  (2016, Jan 27).  By the numbers:  90 amazing Facebook page statistics.  Retrieved from http://expandedramblings.com/index.php/facebook-page-statistics/

Zimmerman, J., & Ng, D. (2012). Social Media Marketing All-in-One For Dummies. Somerset, US: For Dummies. Retrieved from http://www.ebrary.com