HOW DATA EXPLOITS PROGRESS
How most SMMA fall short in delivering any real value to their clients.
To be clear, most agencies don't really move the needle. Whether they realize it or not, their KPIs like ROAS, Likes, Reach, Impressions, etc. are all superficial. I've worked in this space for a while now, and I'm still taken aback by the agency's ability to pull in clients of reputable notoriety while falling short on providing any real value. I bet that if you're reading this, you have at some point had less than acceptable experiences. Have you worked with a freelancer or agency that you've realized doesn't support the back end in a way that provides growth, and it's left a second-hand conception that maybe social media isn't as valuable as they insist.
Social media in a way is very much like an island with autonomous metrics such as reach, shares, engagement rate, and the like. Powerful top-of-funnel metrics that can support brand awareness and keep you top of mind with your potential customers. But it's important to understand that social platforms are all RENTED spaces. You rent digital space in the hopes of making attempts to engage, inspire and ultimately convert your audiences into OWNED attention.
NOW, this is where data exploits the process and stifles growth. Let me explain, every month when you check in with our SMM to walk through performance. It's easy to walk away thinking "We are growing our followers," we reached XX and had XXX in content engagement growth this month." All good, right? Wrong...
Hello, Zero-Party Data
As I mentioned before, social media is very much like an island on which the data only matters there, on RENTED TURF. So relying on top-of-funnel metrics that don't explore how to bridge the gap to all aspects of the customer journey causes your brand to fall short and risk missing out on a tremendous opportunity.
So what can you do and how can you leverage data better? Well, first of let's talk about the upcoming "cookie-pocalypse." If you haven't heard, the marketing space is embarking on tremendous change. Gone are the days when third-party apps could freely collect broad and refined data to support advertisers, brands, and algorithms, at better playing on your pains, pleasures, and heartstrings. A new age is dawning during which zero-party data are a brand’s best bet for staying ahead of the curve by calling them to better understand their target audience.
So, enroll your marketers to not only seek top-of-funnel metrics but also leverage their space to collect and mine as much zero-party data as possible. Enroll your marketers to explore the best ways to ignite deeper engagement.
You Can't Rely on Rent Spaces
Secondly, work towards more robust conversions than likes and followers. Seek social conversions that move followers off-platform. Not too long ago, the world had a meltdown when Facebook went down on us for hours. This won't be the first time, and although it left us with a pleasant day offline, that seemingly short drop-off ultimately cost business revenue. A lesson we can all take into account when forecasting the pathway of the digital landscape.
We simply cannot rely on rented spaces while blackouts and platform trends create growing weaknesses & threats to your growth. It's not as sexy as trends but EMAIL and even SMS offer you a way to remain connected with your customers no matter what's trending, while hackers are taking their best shot at Facebook, or the like. Why? Because you OWN your space and that creates independence, strength, and opportunity.
At the end of the day, look to expand the context of your rented attention, high-level metrics that solely reflect the top-of-funnel limit and delude your view, leaving you vulnerable. When greenlit data reflects the "growth" and success, look to where the data isn't. This is how you can outwit the exploitation of data and the novice approach of agency partners.
Leverage these insights for growth and you will see a whole new world of possibilities and advantages in your niche. If you're not sure how to achieve this, or how to structure upcoming sprints with your team, shoot me an email. I’ll be happy to run over your front end and share new possibilities for growth.