Countless research reports and case studies have shown that social media is not just important, but is essential to the success of your brand today. It’s rapidly evolving, with new channels and concepts continually emerging that vie for the attention of both consumers and marketers.
Why does social media deserve to be a top priority for brands of every size and scope? For one, it has overwhelming influence on most demographic markets and often drives purchase, brand loyalty, and social advocacy.
In 2017, marketers have a healthy assortment of tools and channels to reach, target, and directly connect with consumers. But healthcare marketers are faced with many more obstacles than marketers in other industries, which makes it extremely difficult to leverage their many of their marketing opportunities. From stringent regulations to a lack of technological understanding, healthcare marketers deal with serious rules and limitations every single day. While the healthcare industry is finally becoming more open to many of the latest marketing advances, marketers still have a way to go to gain the flexibility and access they need for the most effective communications. To shed light on the many challenges afflicting healthcare marketers this year, we’ve shared seven of the biggest problems they’ll need to endure.
1. Ailing Digital Marketing Investment Most U.S. consumer industries spend billions of dollars on digital marketing. But Econsultancy.com reported that healthcare and pharma marketers only spend approximately $1.4 billion on digital advertising. This demonstrates how the healthcare industry lags far behind other industries in digital marketing investment.
When it comes to increasing brand recognition and expanding your online audience, Facebook is an unparalleled social media marketing platform. The network previously offered ad placements on Facebook, Instagram, and their “Audience Network.” Now, the company has added a new and powerful advertising feature into the mix: allowing businesses to place ads on Facebook Messenger.
After successful tests in Australia and Thailand, Messenger Ads will soon be available to all advertisers across the globe. The goal of the rollout is to help businesses increase both customer satisfaction and brand awareness when marketing on Facebook. Users still will be able to hide or report ads they don’t wish to see, while marketers will be able to reach current and potential customers more easily.
According to the “State of Marketing” report from Salesforce, 82% percent of marketers think that social media marketing is central to their business. And 75% were generating ROI from the channel. Over the past year, the perception and usage of social media marketing has tripled among marketers surveyed for the report. This has been attributed to savvier strategic planning, smarter social platform use, and better paid media capabilities. Yet credit unions and other financial institutions still have a difficult time adopting and adapting to social media. But when it’s properly planned and executed, social media can be a very effective and efficient means of customer acquisition, member engagement, and community outreach. CreditUnionTimes.com shared six strategic ways for credit unions to cash in on social media.
1. Invest in a Proper Plan If you fail to plan, then plan to fail. Don’t bother getting started with social media if your credit union only plans to post an occasional social link because you won’t get anything out of it. Social media doesn’t happen on its own. It takes consistent attention and quality content. Most of all, social media demands a proper plan that aligns it with business goal and then continuously support them. If your credit union is committed to increasing member growth, driving loan opportunities, or improving the brand’s standing, then social media is well worth the time and effort.
Even though Pinterest only started offering paid advertising two-and-a-half years ago, the social platform is already ready to rival social powerhouses like Google and Facebook for the attention of big-brand advertisers. And as the popular platform gets in on the advertising action, Pinterest’s president Tim Kendall shared a sneak peek at what the channel has in store for brands and marketers in 2017. Adweek.com featured the details of Pinterest’s plans for earning the business of marketers and brands.
Quality Is More Important Than Quantityfor Pinterest Pinterest looks forward to continuing its popularity and increasing its success this year. While some marketers and brands may assume that the platform isn’t as strong as Facebook or Instagram, because it has fewer active users, the company thinks that quality is more important than quantity when it comes to user base. That’s because research repeatedly shows that women are the primary decision-makers in the household. And with Pinterest’s huge female audience of all ages, Pinterest reaches a full 80% of Facebook’s female monthly audience and more women than other platforms like Snapchat and Instagram.
By now, it’s old news that Facebook dominates media, but now TV stations are increasingly becoming aware that the social media powerhouse might take complete control of their TV news audience. Before digital media, TV stations were one of the only sources people had for the latest news coverage. But with the explosion of digital media and it’s real-time reporting nature, TV news viewers have been increasingly tuning out TV for their news coverage. Instead, they’re getting most of their national, regional, and local news from the social media giant. As Facebook continues to grow, TV stations are worrying and wondering if Facebook will become the only channel people choose for news. MediaPost shared more on Facebook’s massive threat to both ratings and ad revenue for TV station news.
Most TV stations have only developed a mediocre online presence. They haven’t embraced digital, social, and mobile channels as much as they probably should have. As a result, they’re constantly losing market share as more and more people are depending on digital for everything in their lives, including their news coverage.
Digital marketing is getting an update. Today’s advanced tracking and targeting technology delivers a huge amount of data that offers outstanding insight into campaign performance. As a result, marketers can now reach the right consumers on the right digital devices, and then measure their engagement at every possible touch point. All of this data lets marketers customize the online experience and drive consumers toward conversion. And every step of the way, marketers can be aware of what’s working and what needs improvement. Data has clearly driven the shift in digital marketing, but some marketers are still unsure about how to properly use this insight for smarter targeting. Luckily, HubSpot cleared up any confusion by sharing the top four ways for marketers to use data to target real results.
1. Get with the Program About Programmatic Media Buying
Say goodbye to your old media-buying practices. Programmatic buying has changed the purchasing process for the better. It’s an automated and adjustable method of purchasing digital media in real time. It offers increased flexibility for fast campaign updates, all the benefits of regular message testing, and the ease of instant scaling.
Loyalty programs and social media are each incredibly effective channels for business. Both allow brands to strengthen customer relationships and achieve important goals in a highly efficient, targeted way. But how do you connect the two?
What are the keys to developing a loyalty program that makes use of the powerful opportunities provided by social networks?
We all remember the days when media planners rated the respect of every agency. But today, the widespread popularity of algorithms has ushered in the programmatic age and completely redefined when, where, and how online ads are placed. While programmatic has its merits, it will never have many of the personal strengths that can only be possessed by media professionals. Even the most advanced machines lack the vital human side of media planning, which is more important to campaigns than ever. The only difference is that it now requires a totally different timeframe and tools than it used before. But the need for intuition, talent, and vision in media planning still remains. Highly skilled media planners will retain a solid advantage over algorithms. Digiday.com explained why media planners have a personal advantage over programmatic tactics.
A Human View A media professional can make the personal connections and insightful predictions that machines can’t. These people have a deep understanding of their clients’ unique business problems and know the right questions to ask at the right times. But perhaps most importantly, they’re able to personally relate to and empathize with audiences. By integrating their empathy, intuition, and insight into programmatic buying, their media plans are more sophisticated than what an algorithm could ever produce.
Credit unions looking to drive revenue should give big data the credit it’s due. Big data is the term for the collection and utilization of a large sum of information from various sources that highlight the important trends and patterns of a person’s interactions and behaviors. Big data can serve as a valuable tool and should be incorporated into every aspect of a credit union’s strategy, from customer experience to product offerings and the development of marketing campaigns. CUTimes shared tips on how credit unions can leverage big data to gain profitability and improve member relationships.
1. Collect Big Data from Current Members There’s a wealth of member information already available to credit unions that can be easily analyzed to provide a better understanding of members. These insights can be used to create member profiles, new products and services, targeted incentives based on members’ shopping preferences, and marketing campaigns to strengthen current member loyalty and attract new members. Additionally, this information can be used as a way to cross-sell other financial products and services offered by the credit union. Altogether, these initiatives can offer many benefits to both members and the credit union.