By Mike Stiles on Mar 14, 2014
Tired of seeing your brand’s reach going down on Facebook? Considering nothing else brands desire on social, like engagement & conversions, can happen unless content reaches users, paid social is starting to play big in social marketing conversations.
Recently, Oracle Social announced the integration of three inaugural paid partners with its social relationship management platform, a step toward giving customers choice and flexibility while reaping the advantages of connected systems. While at SXSW Interactive, we had our LEGO friend ask them what they’re seeing on the road ahead in terms of putting your money where your post is.
What are some of the more recent innovations that have spoken to making paid social marketing more accountable, more accurate, and more strategic than ever before?
NANIGANS: In today’s world of social media marketing Predictive Lifetime Value™ (PLTV) drives everything. At the core of PLTV within the e-commerce industry for example, is the concept that customers are worth more than their “action” today. Rather than minimizing how much they spend to acquire a customer (cost per action or CPA), in-house performance marketers and agencies have advanced their understanding of their unique ROI across their social advertising spend, looking beyond single purchase conversions to ensure their campaigns are profitable over time. The marketers who will win in the long run will be those who optimize costs and engagement against the predictive lifetime value per customer, better than the competition.
What kind of advantages does being integrated with enterprise components like social marketing, content marketing, CRM, etc. bring to a paid social media platform?
KENSHOO: Integrating paid and owned media platforms along with CRM, content marketing and other systems brings a number of advantages to paid social media platforms like Kenshoo Social, as well as our global advertiser and agency clients. Oracle and Kenshoo customers can now use both platforms together to build truly integrated social marketing campaigns, breaking down the silos between paid and owned media within their organizations and across their marketing programs. The integration allows paid and owned media teams to collaborate in real-time, share insights on advertising and content performance and better optimize their campaigns. By leveraging Kenshoo’s leading search marketing platform as well, Oracle and Kenshoo customers can now create, manage and optimize budgets across their search and social marketing programs alike.
Tell us why it’s getting to be an increasingly ill-advised strategy for a brand to try to execute their social marketing with no paid component attached to it.
SHIFT: Communicating with customers through social marketing is not a “one size fits all” initiative. Since every brand has multiple customer segments that have differing characteristics, they should be reached with messaging that resonates uniquely with each. Paid social marketing gives brands the ability to tailor their messaging and target those specific customer segments. This results in a stronger customer relationship with each segment since brands can connect on an individualized basis as opposed to a single, static message. Paid media gives advertisers a channel to maximize their brand marketing ROI.