Social media has to be a part of every brand’s marketing strategy today. But can you measure the effect it is having on your bottom line? It takes an integrated social strategy to do so - linking social media activities to each stage of the marketing funnel.
Digital marketing has grown to a $200 billion dollar business. While CMO’s have been able to integrate digital into the overall marketing funnel, making social media a part of it has often been overlooked. It’s a new addition to the marketing mix but a critical one – with nearly $100 billion dollars in advertising spend to speak for it.
Social media marketing today has matured into a discipline requiring expertise and its own set of marketing tools. Without the two, brands are unable to clearly integrate social into the entire marketing funnel and often their social media efforts are difficult to measure, let alone link to business ROI.
What Are the Obstacles?
Brands are mostly using social media as a means to strengthening their brand image first. Socialbakers data shows that brands focus on Post Engagement more than any other objective and they aren’t leveraging all the tools Facebook offers to help marketers fill their funnel.
To be able to justify the amount of money they’re spending to advertise on Facebook, brands need to begin thinking beyond the top of the funnel on social. To link social to sales, it’s critical to have an integrated marketing funnel.
Yet the data show that for brands fewer than 10% of their Facebook ads strategy covers Conversion objectives, while Lead Generation objectives receive even less attention.
What’s the Next Step?
Increasing brand awareness alone won’t help you sell, but redirecting the users to your website won’t do it, either. While the second-most common objective is Link Clicks, it is critical to have steps in the funnel before you serve a buying incentive.
It also isn’t serving your brand taking users outside the Facebook environment to advertise to them outside of it. Not only does it interrupt the user experience, the link format on Facebook also gets the least amount of organic reach.
Facebook offers marketers numerous ways to keep users inside the platform. From collecting leads through Lead Generation objectives to driving purchases through Conversion objectives, marketers can create campaigns that ensure their audience experience isn’t interrupted, yet it is still effectively filling their marketing funnel.
Marketers also need to optimize the funnel for volume and performance. The amount of brand awareness content should reflect how well the other stages of the marketing funnel are performing.
Generating more demand if the leads aren’t converting won’t lead to more sales, the same way serving sales incentives won’t create purchases if there isn’t enough demand or leads.
Brands focusing solely on brand awareness are in fact losing the marketing game on social. Building a need for your customer to purchase a product, but not guiding that customer smartly through to the sale, could mean they are losing them to competition.