Through the digitization era, social media has changed the traditional form of consumer behaviour. Social media platforms are a space that create opportunities for the brands to engage with consumers through content creation. In order to easily connect, interact and develop long-term relationships with their target consumers, brands first need to identify on which platforms these can be found.
Customers are relying on social media networks to review information about products. Since interaction on social media is public, brands are increasingly investing on these platforms to reach a wider audience. Marketers are shifting from traditional to online media for various reasons.
Firstly, is the ease of creating and tracking social media strategies when promoting online. These strategies vary between organic and paid social media. Organic social uses free posts to build and engage with an online following. Paid social refers to sponsored content targeting specific audiences who are likely to be interested. Cost-per-click (CPC) is one of the most common methods of charging for this type of promotion. Paid and organic social strategies work best collectively to simultaneously engage with and nurture your followers while extending the reach of your brand to a broader audience. Online marketing campaigns can easily be created, and their results measured almost on real time, therefore allowing to gauge their effectiveness and readjust budgets. Through the analysis of engagement metrics, marketers can easily understand the ROI from their respective campaigns and whether these are driving consumers to their online or brick and mortar stores.
The use of social media influencers
Companies worldwide are increasingly contracting social media influencers (SMIs) to advertise their brands. Through these endorsements, marketers aim to transfer the image of the endorser onto the brand. SMIs gain their fame on social media by uploading content related to their areas of expertise. Influencers use visual congruence to present their shared interest with their followers, sharing a sense of bond and intimacy.
Since SMIs are significantly trusted by consumers, they can significantly enhance the identity of a brand and generate ROI. Social media users can easily identify with micro influencers with whom they share a similar lifestyle and interests. When endorsers advertise a product in a way that it is associated with a realistic setting, they are seen as more credible in comparison to the typical commercial forms of endorsing.
Social media consumption with Millennials and Gen Z
Social media marketing is particularly effective with Millennials and Gen Z, two age cohorts which are more likely to buy products directly from their mobile devices.
According to Hootsuite, 95% of the Maltese population is now on social media in some form or other. Social media platforms include Instagram, Twitter, and YouTube and Tik Tok, with Facebook being the most popular platform, engaging around 93% of the population aged over 13. In 2020, Instagram was the fastest growing platform of 2020, used by 62% of the Maltese population aged over 13, 71% of which were male. However, females were twice more likely to engage and take action. Instagram also saw a 26% increase in advert reach and traffic.
Tik Tok closely follows Instagram in popularity increase amongst Gen X and Gen Z, with the hashtag #Malta being featured in Tik Tok videos over half a million times as at 2021.
Book your seat at our Social Media Masterclass
Join us on Friday 25 February for our online training ‘The social media masterclass’ to better understand how to create a digital marketing strategy using the correct tools and digital marketing mix. We will also be discussing case studies highlighting effective strategies and tactics to create audience engagement. Click on The social media masterclass | Grant Thornton Malta for more details.