Social Media Dynamics on a digital media

How to build its digital channel in social media

I firstly would like to give detailed statistics about social media and then according to my working experience, I will be talking about how to manage its channel effectively on social media.

The world has been gone into a notable change for the last 15 years with the advent of technology. Digital platforms that appeared on the internet offer many opportunities to people such as reading news, playing games, listening to music, chatting, watching films and videos. The essential part of digital platforms is that they bring higher accessibility and speed at any location and time. In addition, fast consumption and curiosity of people have boosted usage of social media. This caused the traditional media, specifically television, to lose its influence in the world.

There are social media statistics you can’t ignore:

• The average internet user has accounts on 8 different social and messaging services in 2019.(GlobalWebIndex)
• Social media ad spending is estimated to grow from US$ 98.2bn in 2019 to US$ 187.6bn in 2023, with a CAGR of 17.6%. (Statista)
• YouTube, with 1.9 billion users worldwide, is the second-largest social network.(Statista)
• From YouTube’s 9 billion active monthly users, there are more than 30 million people who use it every day.(OmniCoreAgency)
• People spend an average of 2 hours and 22 minutes a day on messaging and social media networks.(GlobalWebIndex)

Figure 1: Digital World Breakdown

As Figure 1 points, there have been slightly above 5 billion unique mobile users and just over 3 billion people have been active on social media platforms. In terms of social media, Facebook have more than 2 million active users. While 895 million people have been using Instagram, Whatsapp has 251 million users around the world based on Figure 2. [1]

Figure 2: Social Media Audience

As social media enables spreading its ideas, products, and vision into the bigger audience, social media has been the most powerful tool of creating brand value on people. Benefits of social media for business are as follows of:

1.Build brand awareness

2.Humanize your brand

3.Communicate authority

To take advantage above, the institutions in social media should answer questions below to build their business.

• How to measure success in digital marketing?
• How to position its resources and business units?

How to measure success in digital marketing?

There are three key important metrics to measure success on social media and these KPI’s are as follows:

1.Impression

An impression is counted as the number of times your content is displayed, no matter if it was clicked or not.

2.Engagement

Engagement is calculated based on the number of likes, comments, shares, and clicks your posts are generating.

3.Subscription

Subscribers represent a loyal audience to channels in social media. They can see the post of the channel they follow in their “News Feed”.

This pyramid summarizes the road of success in digital media step by step. I consider “Impression” metrics to see whether the channel reaches more audiences on social media. Then, I check the “Engagement” score to ensure growing engaged users. Finally, I observe “Net Subscribers” to understand the growth of the loyal audience.

Figure 3: Performance Pyramid

How to position its resources and business units?

To reach success in digital, media companies should follow the chain systematically as Figure 4 summarizes. Firstly, you should build attractive content by regarding the audience’s desire, then determine the right marketing strategy and finally extract valuable insights from data in order to enhance the business.

Figure 4: Business Flow

1.Content

Content team shapes their content by understanding the needs of the audience. “Keeping audience interested” is a vital key to sustainability in social media platforms. Hence, they should think outside of the box and attach importance to creativity. Your mission should be to enrich your life by informing and entertaining your audience.

In addition, they should follow trends what it’s going on the world since trends demonstrate what type of content is popular among people. There are several steps to curate content in digital media are as follows of:

— Develop your voice

— Be positive

— Keep it short and simple

— Add a call to action

2.Marketing

Many social media platforms such as Google, Facebook and Youtube have built-in analytics tools, which facilitate companies to track the progress, success, and engagement of ad campaigns. Social media platforms offer different marketing objectives based on what you want your ad to achieve. Micro-targeting features that allow you to reach your target audience based on demographics, location, interests, and even behaviors. You have also a chance to place your paid advertisements in specific locations (device type or operating systems).

Cost per Click and Click-Through Rate are two key performance indicators in digital marketing. Whilst CPC shows the cost of advertising, CTR measures its efficiency. In detail, Cost per Click(CPC) value become reliant on how popular your chosen keywords are, your quality scores as influenced by Click-Through Rates(CTR). Besides, Click-Through Rate(CTR) measures how many users clicked on your Ads. The higher CTR allows you to lower your PPC costs by receiving pricing discounts from Search Engine platforms such as Google Ads.

3.Data

Social media data refers to all of the information collected from individuals’ social media activity and this results in big data. By analyzing big data, we can understand the audience’s behavior and needs. Several advanced analytics algorithms (Natural Language Processing, Sentiment Analysis) help the organization understanding the audience’s behavior and reaction. Time series analysis of KPI’s can give valuable insights into business in terms of understanding trends and patterns.

Social media data sheds light on the needs, interests, and pain points of every individual who interacts with your content and profile. Using these behavioral insights, you can build a rich content experience.

Limitations of Social Data

Social data is not sometimes perfect for several reasons. It is limited to the information that users decide to share about themselves. For instance, many users may not share their location or gender, giving advertisers an incomplete profile to work with. Another problem is that some users on social media are not real users but a fake robot, or bot. Attempting to understand their feelings about a brand or political candidate based on the comments is not always possible since many of their comments are neutral and algorithms can incorrectly label comments as positive or negative.

References

[1] HootSuite, We Are Social, 2019

Closing Thoughts

This was a quick analysis of social media management. Please leave any feedback you have and also if you want me to explain something specific!

Stay tuned…