eView: The Promise of Social Performance Marketing
Marketers have reaped significant returns in search marketing over the past several years. Social media offers the same great accountability they’ve come to expect from search through a social performance marketing approach. But will social media experience the same explosive growth that search has enjoyed? For marketers who manage their campaigns correctly, social marketing presents plenty of potential.
To ensure consumer engagement, efficacy and success, social performance marketing should consist of a two-pronged methodology. First, marketers can drive online sales through microtargeted, dynamically optimized campaigns. Facebook and other social media sites are highly accountable for advertisers and enable ROI tracking and measurement. Like search campaigns, multiple highly targeted ads can serve as their own minicampaigns targeting specific consumers' interests. Marketers constantly can improve their social marketing campaign performance with real-time optimization through direct control of bidding and ad creative.
Second, marketers can multiply the performance of their media buys by leveraging the “social graph” of popular networks. Building social applications, for example, adds value to consumers’ social media experiences and in turn gives brands an opportunity to connect with consumers and build fan bases. The best applications offer functionality, say something about users, or facilitate communication/interaction with consumers.
Creating fan pages can also enhance the social context of social performance marketing. Fan pages function as simple branded pages on social networks and serve as a great mechanism for engaging fans and potential fans of a brand. All those users, or fans, provide marketers with the equivalent of an enhanced e-mail list in a closed system, making the value of the sign-up greater than an e-mail sign-up.
Additional value lies in their ability to connect engagement and performance marketing. Every fan interaction becomes a way to make social ads more effective. Marketers can reach the "friend of a fan,” for example, with a more effective ad that contains an implied endorsement from a recognized face and name.
When using social performance marketing, consider the following elements:
- networkers — target users based on profile data with performance media buys;
- platforms/tools — engage users and build a fan base via applications and fan pages; and
- advertising — drive accountable results with targeted ads tied to fan bases.
In the social media space, marketers have two options for their marketing strategies. One is to take a new channel/same method approach, flooding users with semirelevant banners — an approach that typically yields poor performance. Or marketers can experiment with the performance media and social engagement tools available to start adapting to a new advertising reality while creating meaningful, trackable interactions.