SOCIAL

#SMTLive Recap: Adjusting Your Social Media Budget to Support Recent Changes to Business Needs

Published

4 years ago

April 12, 2020

smtlive recap adjusting your social media budget to support recent changes to business needs

Despite everything going on with COVID-19, we’ve found a silver lining in getting to host our #SMTLive Twitter chats for you more often these days. This week, we discussed adjusting social media budgets due to recent Coronavirus-related changes. It was fascinating to see how everyone is innovating and improvising financially. If you were able to join this week’s Twitter chat, we hope you learned something about adjusting your budget from the other talented social media marketers in this chat. If you missed it, not to worry, we’ve recapped the highlights for you below.

Q1 – Whether you’re a freelancer, an agency or part of an in-house marketing team, there’s a high possibility that the current pandemic has affected your marketing budget in some way or another. How has COVID19 affected your social media budget, in particular? #SMTLive pic.twitter.com/o8YzfpZjLi
— Social Media Today (@socialmedia2day) April 7, 2020

Let’s dive right in. Clearly many (many) social media budgets have been affected here, so we created a more specific poll regarding how #SMTLive participants’ wallets have been impacted.

Q1 Poll:
How (if at all) has COVID19 affected your SOCIAL MEDIA marketing budget? #SMTLive
— Social Media Today (@socialmedia2day) April 7, 2020

While it was encouraging to see that a lot of people haven’t seen a change in spending yet, many users saw a decrease in funding for social as well.

A1: Our client base is all restaurant and retail so the #COVID19 pandemic hasn’t only negatively affected our social media budgets, it’s affected our agency revenue stream drastically. #SMTLive
— Travis Joyal (@TJMO) April 7, 2020
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Our focus now, at least on social media, is to share content that is helpful, accurate, timely, compassionate and/or human (the HATCH method). And, we’re tasking ourselves to be proactive thinkers and planners and prep for content once this nightmare is over. #SMTLive
— Travis Joyal (@TJMO) April 7, 2020

@TJMO, hats off to you for even attempting to manage restaurant-industry social right now. Wishing you the best!

Social media ads, particularly on Facebook, are cheap right now. If the budget and strategic messaging are there, I’d recommend increasing spends!
— Travis Joyal (@TJMO) April 7, 2020

Pausing marketing services seems more common than not these days. However, @TJMO noted that ads have gotten a bit cheaper as a result.

A1. ????Finding it difficult to decide whether to keep ads running or not
????Not knowing how much to budget for an ad#SMTLive
— Kofi Social Media Strategist???????? (@kofigramm) April 7, 2020

Yes. There has been a decrease
— Kofi Social Media Strategist???????? (@kofigramm) April 7, 2020
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Decisions, decisions.

Industry-wise we’re seeing agencies with clients pausing across the board *except* restaurants. They seem to be better at changing strategy and adapting far better than some other industries. Their budgets are staying the same or increasing slightly. Most biz is panic-pausing.
— VINE Collective Agency (@vine_agency) April 7, 2020

@vine_agency applauded restaurants and coined a useful new-to-us term: panic-pausing.

Marketing budgets everywhere are being cut. The impacts show as social media ad prices drop due to a lack of competition in certain industries.
Q2 – Is this a time to boost your ads or focus on organic? #SMTLive pic.twitter.com/F5KCcm76cm
— Social Media Today (@socialmedia2day) April 7, 2020

Being that ads are now cheaper as a result of budget cuts, some businesses might be more inclined to dive headfirst into paid media. But, at the same time, there’s nothing cheaper than organic content. #SMTLive participants were eager to discuss balancing where to invest time and limited funds in this new environment.

A2: If your ads are providing value, this could be a great time to establish a presence. You have to tread lightly and carefully. But I think that people will remember the brands that have some good during this time. #smtlive
— Amanda Shepherd (@missamander) April 7, 2020

@missamander suggested that high-value ads could be worth the money right now.

This sponsored tweet from @Nike is a fantastic example of a brand putting money behind a timely and compassionate message. #SMTLive https://t.co/xBjF0H597l
— Travis Joyal (@TJMO) April 7, 2020

Amazing and incredibly appropriate message from @nike during the current state around the world. This how you do marketing during a crisis. ???????? ???????? ???????? https://t.co/GmVISZZ0hp
— Travis Joyal (@TJMO) March 22, 2020

@Nike may have hit the nail on the head with their (paid) compassion for the situation here.

Both. Everyone is now online b/c of WFH + the #quarantinelife but any good strategy is holistic. You can’t just focus on one thing and hope for results. Know your audience & their pain-points, create helpful content, boost it so more people can see it.
— VINE Collective Agency (@vine_agency) April 7, 2020
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@vine_agency is tackling the paid vs. organic balancing act right now.

Depends on your brand, business and social media objectives but with both, being sensitive and empathetic to followers, customers and employees needs to be at the forefront.
— Franca Cumbo (@LionStarSocial) April 7, 2020

#SMTLive I have found myself been putting a lot more effort into my organic social strategy this month. It can be tricky to find relevant, engaging content that applies to your audience base w/o bogging them down w more negative news.
— Jill (@Jill_Messinger) April 7, 2020

A2: It’s key to focus on what matters: if your business isn’t doing well & you had to take actions like letting go staff then now isn’t the time to boost all content. We see that organic works for the right content: share useful info the user needs + invest time in customer care
— Sophie Clarke (@clarke_sophie) April 7, 2020

Multiple #SMTLivers emphasized the bottom line during this chat: Budget doesn’t matter to most social media marketers nearly as much as sensitivity to and awareness of the current situation.

Q3 – First, for those looking to boost social ad spend in the coming months, what are some of the best ad options and platforms available to marketers right now? #SMTLive pic.twitter.com/gzWMDCYnUr
— Social Media Today (@socialmedia2day) April 7, 2020
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Some businesses have the opportunity to cash in on relatively cheap ad buys right now, but how are they going about this strategically?

#smtlive I don’t know much about this platform, but Tik Tok is absolutely killing it right now. Is anyone familiar with their advertising options?
— Jill (@Jill_Messinger) April 7, 2020

@Jill_Messinger picked up on the quarantine TikTok trend.

There are plenty of articles sharing advice on our site, but here is a nice visual/infographic showing some ways to market on TikTok right now. https://t.co/N4AZyppI7L #SMTLive
— Social Media Today (@socialmedia2day) April 7, 2020

Now might be a better time than ever to experiment with TikTok marketing. If you’re interested, the above article offers further guidance.

A3:
Depends on which channel your target audiences are using the most
B2C: Facebook, Tik Tok, Instagram
B2B: LinkedIn
— SP (@Smita_DigiMarke) April 7, 2020
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This depends on your audience. TikTok is populated mostly by Gen Z, Facebook is Xers +, LinkedIn Millennials +, Twitter is everybody but it’s harder due to the massive amounts of content. Find out which platforms serve the largest segment of your target audience and spend there.
— VINE Collective Agency (@vine_agency) April 7, 2020

It depends on who their audience is. For B2C we’ve heard from our members that performance has been low on Facebook, however, B2B has continued to generate great performance on platforms like LinkedIn. #SMTLive
— AgencyVista (@AgencyVista) April 7, 2020

However, if your audience isn’t on a platform, there’s obviously no use in investing in it, no matter how trendy. That’s one thing about social media marketing that will probably never change, pandemic or no pandemic.

Q4 – Now, for those of you with budgets to spend but still focused on organic content, boosting your posts may be the way to go. What are some best practices for “boosting” organic content? #SMTLive pic.twitter.com/xBDwvxvy9w
— Social Media Today (@socialmedia2day) April 7, 2020

For those who have the funds, boosting those empathetic messages you’ve worked so hard to put out on social could be a huge value add.

Especially when boosted, I should add! #smtlive
— Jill (@Jill_Messinger) April 7, 2020
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It seems like this strategy is working for at least one of us.

It depends on your budget & your target audience but strategically boosting your native content to specific audiences can help save your budget & increase the quality of your leads. Facebook has the biggest reach less $, LinkedIn lets you get more targeted but for more $.
— VINE Collective Agency (@vine_agency) April 7, 2020

@vine_agency offered some platform-specific advice for boosting important content.

This is what #SMTLive is all about! Love hearing everyone’s advice. 🙂
— Social Media Today (@socialmedia2day) April 7, 2020

Even users who aren’t currently boosting their content offered advice.

Given today’s topic is social media budgeting, we wanted to ask about management techniques. Hopefully, some of you have great systems/templates that you’d be willing to share with the group.
Q5 – How (and where) do you track and report on social media spend? #SMTLive pic.twitter.com/6v2oNy5FVH
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— Social Media Today (@socialmedia2day) April 7, 2020

Here are a few organizational techniques from #SMTLivers who have been there, done that regarding social media spend.

A5:Paid ads on LinkedIn and Google show you the spend within their analytics sections
You can setup campaigns in Google Analytics and link it to your ads to calculate conversions
— SP (@Smita_DigiMarke) April 7, 2020

Databox is a tool I’ve used for a while. It’s a bit of a pain to set up but it lets you aggregate all of your social/SEO/PPC/EMail, etc. metrics into one place and it updates every few minutes. It’s mostly about data visualization which can make things a bit easier for clients.
— VINE Collective Agency (@vine_agency) April 7, 2020

Whether you use in-platform tools like @Smita_DigiMarke or external tools like the one @vine_agency mentioned, staying organized feels rather important when your budget could change daily.

This is the final question of the day, but we’re leaving time for you to jump in with your on questions.
Q6 – How can we help you? What content or resources are you looking for at this time to support your social media budgeting, spending and growth? #SMTLive pic.twitter.com/lIOAVL6YQ4
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— Social Media Today (@socialmedia2day) April 7, 2020

We wanted to know how we can help out our #SMTLive family during this time!

A6 – We finally have a little extra time to do things such as participating in Twitter chats, joining webinars, watching live streams, and listening to podcasts. Loving these chats and would happily sign up for any webinars etc. @socialmedia2day hosts during this time! #SMTLive
— Hydrate Marketing (@HydrateMktg) April 7, 2020

We’re so happy to hear that you’re loving these chats. Please feel more than free to contact us with suggestions for them – they’re here for you!

A6: any tools to support in tracking social performance – a lot are doing free trials right now so if anyone has any recommendations- we’re used to tracking paid, but would love some simple social data tools for organic #SMTLive
— Sophie Clarke (@clarke_sophie) April 7, 2020

Other users were interested in how those free trials have been going regarding tools. We’ll be sure to keep that in mind for future chats, but thank you to everyone who participated in this one. We know it can get a little lonely as we all try to navigate working in social at a time when more people are glued to their apps than ever, so we’re glad these have been helping. Don’t forget to tune in next week, same time, same place.

SOCIAL

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

2 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

Published

2 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

SOCIAL

Instagram Tests Live-Stream Games to Enhance Engagement

Published

2 months ago

February 26, 2024

Entireweb News Bot

Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.