By Shahnaz Mahmud.
Harnessing social media as a powerful marketing and advertising platform can be achieved by employing a full-funnel marketing strategy. Have you asked yourself lately if your business focuses on this? Moreover, if you do, are your efforts enough?
This topic will be discussed at the upcoming LeadsCon New York conference in a Path2Conversion session on Monday, August 22nd called “Driving More Leads + Volume with Social Media Advertising” led by Sanaz Limouee, Founding Partner and CRO of 7 Degrees.
Limouee says she believes more marketers are realizing that a full-funnel marketing strategy is indeed critical. The problem? Execution. “[Marketers need to have] the right tools, resources, a willingness to test and the ability to follow a strategic plan rather than focusing solely on tactical execution,” she says. But she also sees that many marketers are hesitant to try something new without metrics to show results. This reluctance could be a potentially big misstep.
Without a doubt, marketers have experienced a massive shift over the last few years. Some have built businesses in tandem with social media advertising. But others have had to transition their mindset from more traditional forms of media to digital, Limouee points out. As businesses increased investment on social media advertising, the scrutiny to ensure that it was a profitable channel also rose. Marketers began to focus on driving direct response so they could justify the investment to their higher ups. “And guess what, it performed,” emphasizes Limouee. “The proliferation of social media advertising has led to consumers becoming more savvy, pushing marketers to evolve their plan of attack to drive results.”
Limouee notes that social media advertising’s introductory phase that began in 2010 was very limited. The upside is that it’s developed into a powerful tool today. “That [initial] phase saw significant investment and innovation that drove performance for many early adopters,” she says. “Today, we are still going strong in the growth phase, competition has increased, the customers are more sophisticated and marketing ROI is higher as economies of scale are realized.”
Essential Parts of Your Full-Funnel Marketing Arsenal
What are the essentials in your full-funnel marketing arsenal? According to Limouee, at the top of the funnel, to drive awareness and introduce your brand to consumers, video is by far “the most powerful ad unit that enables a brand to articulate their story.”
Moving down the funnel from awareness to consideration, Canvas and Carousel are ad units in favor (recommended by Facebook). “Canvas and Carousel provide an opportunity for the brand to message their value proposition and unique selling points to the consumer and build upon the initial interaction,” explains Limouee. The key messaging for you to implement here would be to focus on the value to the consumer, what problem you are solving and what benefit they can expect to receive from your product or service.
The bottom of the funnel signals the final stage of the consumer’s purchasing journey. And if it isn’t ingrained yet, understanding the consumer's journey is paramount to your success. “The consumers we are speaking to here have not yet converted, and this is the time to serve them a direct response ad with a strong call-to-action button and message in order to compel them to convert,” advises Limouee. The most powerful messaging comes from tailoring to your audience. As Limouee proffers, it’s important to think about how you would differentiate your message to new parents compared to new movers, as an example.
However, the most valuable piece of your marketing plan is the actual trial and error process. “Sometimes you test and fail and sometimes you test and win, but each time you are gaining valuable insights to incorporate into your strategy,” says Limouee.
Click here to register for Path2Conversion and LeadsCon New York 2016.