It’s no secret that social media is definitely a viable outlet for companies to benefit themselves in many different ways. More and more we are seeing bigger companies put larger proportions of their digital spending budget towards social media.
So how are these companies using this added spending to increase social media effectiveness?
Burberry Group PLC, a company with a very strong brand image provides a prime example of how to use this increased spending to its best ability. By streaming content from fashion shows to their social media followers, their audience is hugely increased. This content rich social experience that Burberry can now offer their followers gives them the ability to engage with millions of consumers.
Providing valuable content for followers is one of the main ways in which brands are using their added social media spending. The three main areas which are expanded with the increased spending include: community management, content development and real-time analytics. These expanded areas all contribute towards a brand’s effectiveness on social media.
Community management involves is the ability host your fans across various social media platforms. A companies ability to listen and respond to their fans is a vital aspect of community management. Because things change and occur so quickly in the social media space, the ability to respond accordingly and promptly becomes a high priority.
Content development is a lot easier for some brands than others. Some industries that brands are based in allow for a surplus of relative content to fill their pages, other brands have to invest to create relative interesting content for their followers. For those companies leading the way in the social media space, providing unique, relative and interesting content for their followers makes content development another highly influential factor in their success using social media.
Real-time analytics is the final of three areas that need to expand with increased spending in social media. A companies capability using analytics generally matures in four stages. The first of these is measuring your reach (through likes/followers), the next stage is tracking your engagement (analyzing drivers of participation, what sharable content performs best). The third stage is analyzing advocacy (the ability to identify fan behaviours), the final stage is having the ability to calculate return on investment.
So how can your business expand the three main areas outlined to improve your social media effectiveness?