Social media strategy and planning essentials series
The social media landscape is constantly evolving. New networks rise to prominence (e.g. Snapchat), new technology increases user participation and real-time content (e.g. Periscope) and existing networks enhance their platform and product (e.g. Facebook,Twitter, Pinterest and Instagram launching ‘buy’ buttons). Organic reach is also shrinking as the leading networks ramp up their paid channels to monetise platform investment.
If the first era of social was engagement, the new era is acquisition and conversion. Social commerce is growing much faster than retail ecommerce, although it’s early days. The top 500 retailers earned $3.3bn from social commerce in 2014, up 26%. Many retailers I work with are seeing social driving bigger % increases in retail traffic than any other channel.
Social is no longer just about conversation and content; it’s now an established channel for customer acquisition,…