Getting in the know! Three Mighty Social Media Tips For improving your ROI in Q4.
The social media landscape is changing and it’s not just the platforms that are being updated. As the way we use our online profiles changes and evolves, so does their incorporation into our everyday lives. So what’s next for the online world and how can you stay ahead of the curve and use your budgets wisely when coming into the busy Q4 period? Read on to find out more!
Social Media in 2022
Over the years, we have seen social media take on new shapes that are more immersive and interactive than ever before. The online world has become a significant part of our lives, with many people now using it as their main source of news, political events, current affairs and entertainment. Social media is no longer just a means of communication with friends or family, but instead has become an integral part of who we are and how we give and receive information.
Why is Q4 important to marketers?
The holiday season (aka MAYHEM!) is the most important time of the year for online retailers. It is a crucial period with the social media calendar because it is when brands are most likely to increase their budgets and spend more on advertising. But don’t get excited just yet… It is also when CPM, CPC, and CPA are at their peak.
Putting in the extra hours and preparing for this jolly old season will help marketers to keep their followers engaged and dipping into their pockets. Here are a few helpful tips from the Mighty Social marketing team that should help you to optimise your social media marketing campaigns.
Tip 1 - Consolidate! Consolidate! Consolidate!
Marketing trends are changing and in the digital era, marketers need to have a consolidated structure and set up to keep up. In order to achieve this, we recommend segmenting your marketing budget, setting clear goals and objectives and incorporating a learning-based approach to your posts.
In this new landscape, advertisers need to learn how to work with different teams in order to get their campaigns running smoothly. The learning process starts by understanding the assets that each team has and what they are good at. This should allow for the campaign objective to be achieved with the minimal amount of time (and cost!) as possible.
Tip 2 - Know your audience size
As we ultimately want to boost impressions (supply) it’s important to understand the size of the brands’ audienice. By not limiting the audience pool that the platform can explore and by adopting more automatic placements, content creators will be able to increase their impressions. We suggest taking advantage of new distribution channels and reaching out to broader audiences by exploring new markets. Just visualising how this will affect your overall reach!
Tip 3 - CBO is the way to go!
Campaign Budget Optimisation (CBO) is a technique that has been adopted by many digital marketers because it helps them to maximise their ROI. But what is CBO we hear you ask!
Put simply, CBO revolves around taking easing cost controls and allowing the advertising platforms' machine learning model to have greater control over budget allocation. By doing so, budget liquidity is increased, meaning we allow the platform to review all active adsets continuously and simultaneously within a campaign, then dynamically reallocate budget based on their performance. The end result is a campaign that dynamically reallocates its available budget to audiences that are most likely to generate desired outcomes.
If you would like a consultation on how to best prep your brand for Q4, get in touch with one of our experts today. We can help reduce the stress, help you set clear and achievable goals, and ultimately smash all those KPI’s. This could be your most successful Q4 yet!
