Thursday, July 06, 2017

The Social Media Trifecta

According to this article, there are three components to a Social Media marketing strategy - the owned, paid, and earned.  Today, the performance of earned and owned social media is at an all time low, in spite of 80% of all social media being paid, and 70% of all social conversations about brands occurring on earned channels.  This article argues that with the new emphasis on paid social marketing, we must first understand how these three all work together to drive stronger engagement.

Here are the 5 steps they provide to amplify your social media marketing:

1) Use your owned and earned media to reveal your favorite audience sites, because the earned influences the owned
2) Create marketing campaigns with user-generated content, to turn earned into owned
3) Increase paid ROI through "owned content auditions", to turn owned into paid
4) Track brand reputation vs competitors to gauge your performance
5) Create better products with an eye for social sharing, using your product to create more earned

These steps certainly seem plausible, and I do believe that following them could increase the success of your social media strategy.  One thing, as we've learned in abundance, is clear - reaching the audience is the ultimate goal, so figuring out how to connect with them most effectively will influence the success of any strategy.

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