2015 Social Media Predictions

There is always interesting discussion at the end of one year looking into the next – What are the social media predictions, trends and hot topics to look forward to. This year I thought to analyze several of the expert predictions for what is to come from a recent Business 2 Community post.

Many marketers are looking forward to a “buy” button availability. During summer 2014 the “buy” button has been tested on Facebook and a roll-out to the rest of us seems to be in the eminent future. And who wouldn’t love the one-click opportunity to buy when the products or services seem impending from those potential Facebook clients.  As the article says, this is a strong prediction for 2015!

With the introduction of the ‘buy’ button both on Twitter & Facebook, social commerce will truly get its wings. To ensure the most targeted offer on social for customers based on demographic & behavioral attributes, vendors will build cross channel consumer profiles. Customers will benefit with more relevant offers and companies will benefit with a more comprehensive customer profile across social and traditional channels.

Impending Facebook algorithm changes will make it harder to be promotional. post too many “look at me” posts and your content will not be shown to your target audience. In this social media overloaded society, it will be increasingly important to create content that engages your audience.  Starting in January, content on Facebook pages will have increased scrutiny, that why I think that this next statement is likely true for a 2015 outlook. It’s a no-brainer really, work smarter and not necessarily harder. Invest more on sharing your influence and expertise and less on the shameless self-promotions that many are getting tired of seeing. It is not about quantity, but instead good quality!

Businesses will no longer strive to push content out daily. Instead, they will focus on longer form content (stats show effectiveness here) that provides context, hard data and analysis.

 

Another thought shared by one of the 25 industry experts I agree with, as well as disagree with. As far as social media predictions go, it is certain that social media will continue to be further integrated within business practices, how can it not? What I disagree on is that business owners should never choose their social media channels before considering their overall marketing plan – Just because a social platform is out there, does not mean that you should be there. Be sure to choose the right platforms for your business to be on. Also always be aware of the implications of being there. Do you have the manpower to properly manage the platform? Is your voice being heard? Are your customers there? Careful consideration needs to take place FIRST!

Social media will continue to be more closely integrated with day-to-day business practices. DISAGREE: Social media will continue to be more closely integrated with day-to-day business practices. Many businesses will think social first when crafting a marketing plan or developing sales outreach strategies. In addition, businesses will continue to invest more of their marketing and strategy budgets toward existing and new social platforms, as well as social analytics. Specifically, as the organic reach of promotional content faces more challenges, paid placements will become essential in reaching potential customers via social media.

Feel free to read more of what the social media predictions for 2015. There are several more thoughts that merit careful consideration. No matter what happens though, during 2015 we will continue to find more businesses participating in social media to reach their customers.  Next week I will have share several of the PWB staff predictions for the coming year too, so check back. Until then, have a happy, healthy and safe New Year!

Understanding CTR vs. Conversion Goals

I am working with a couple of AdWords clients right now that are really struggling with meaningfully analyzing the return on their AdWords campaigns. I suggested that they add conversion codes to better understand what may be working when the question came up, “Well what is the difference between Clickthrough-rate (CTR) and Conversions? I’ve been looking at the CTR as a means of identifying how well my campaigns are doing, so why will looking at conversions be better?”

To understand this we first need to understand the difference between “Clickthrough-rate” and the “Click conversion rate”.

The Clickthrough rate (CTR) is the number of clicks your ad receives divided by the number of times your ad is shown. In this example, the ad was available to be seen by 343 individuals (impressions) and was clicked on twice. That would mean the ad had a 0.58% Clickthrough rate. .58% of people clicked your ad after it was shown to them.

Converted clicks are the number of clicks that convert within a chosen conversion window. This means that you know how many clicks resulted as a result of an “action” being taken. The Click-conversion rate therefore is the number of converted clicks divided by the total clicks that can be tracked to a conversion. Here are some more details on conversions directly from Google.

Still confused about what a conversion is? Many clients are.

To determine what your company conversions are, you need to determine what action you want visitors to take. If you are a B2C company, then it is likely your conversions are sales which can be quantified by revenue. For B2B companies this often gets trickier. To determine conversion goals consider what you would like to see visitors do.

  • Do they have the option of signing up for a newsletter?
  • Are there areas of your company website with specific calls to action?
  • Does your website include tools for clients that could be launched or downloaded?

All of the above listed ideas are actionable activities that likely carry some weight within your company. Conversion goals therefore should be very specific to your business and include actions on a webpage, calls from ad extensions, or actions from a mobile app. Create good, strong conversion goals, and you will be amazed at what insights you may be able to see as a result.