Performance Marketing focuses on social media as a conversion tool. (Generation / Adobe inventory)
Insurance companies have long viewed social media efforts as brand marketing light and have used it for creative messaging and company recognition. This is a worthwhile endeavor, but it’s time insurance marketers added another layer to their social media strategies: performance marketing.
Performance marketing focuses on social media as a conversion tool that drives lead generation and sales, not just vanity metrics. For example, instead of tracking a post’s comments or reach, marketers can track how many readers click through to custom landing pages.
This change can be difficult for those involved to understand and accept at first. Larger companies may have separate marketing teams for different product lines that support the overall brand. Within these teams, employees can have different roles for organic and paid social media. For a successful performance marketing strategy, all teams must share a vision and commitment to increase conversions through social media. Not every post has to turn readers into leads, but it should be part of the way to get them there.
If you’re at the beginning of this cultural shift to look at social media from a performance-driven perspective that puts conversion metrics first, try the following techniques to steer the conversation in the right direction.
No. 1: Prioritize internal team building.
Digital marketing is constantly changing – and changing quickly. Marketing leaders need to give teams the opportunity, time, and space to catch up on the latest trends, tools, and social media marketing strategies. The more they know, the more likely they are to apply out-of-the-box thinking to social media in general.
An excellent resource is Facebook Blueprint, which offers free courses and certifications related to marketing on Facebook. Make sure you complement dedicated social media training with analytics training to make sure everyone knows how to measure the success of social media efforts. The Google Analytics Academy is an excellent resource for getting to grips with basic analytics and diving into further insights from there. These courses will help everyone get on the same page and better understand the range of options available on Facebook and other social media platforms.
# 2: Emphasize that everyone has a role to play.
Regardless of title or job description, everyone in your company should be working towards the same sales goals and understand that both brand marketing and performance marketing are required to achieve those goals.
Marketers should work with all departments to ensure that everyone understands their roles and responsibilities when it comes to brand building and revenue conversion. When creating social media marketing campaigns, marketers should also seek insights from the specific departments that the campaigns are driving traffic into to determine the right content, messages, and metrics for each campaign.
Additionally, agents who also share branded content on social media should understand how their efforts are intertwined with other content to get users through the sales funnel and closer to conversions. By including all stakeholders in the performance marketing strategy, marketers can help anyone see themselves as an extension of the sales team and increase the focus on increasing conversions.
# 3: combine social branding with tactical messaging.
Any social media marketing campaign should be cohesive and have consistent topics, words, and images. Also, any promises made in the branding copy should be more tactically highlighted Performance marketing Contents. Essentially, the brand message sets the tone and the performance message closes the deal by delivering on promises.
How does this work? Let’s say your insurance company has launched a social media branding campaign that highlights how easy it is to work with your company rather than your competitors. The performance marketing aspect of the campaign includes a white paper that outlines your specific value propositions and customer testimonials to back them up. You link from the social media branding campaign posts to the whitepaper landing page, viewers enter their contact information in a form on the landing page to download the whitepaper, and your sales team has direct access to prepared leads. Brand and performance marketing work together to drive sales.
Social media is more difficult than it was a decade ago. Platforms have changed their algorithms to make organic content less visible, and social media marketing strategies that rely only on brand messages and vanity metrics aren’t going to get through the noise. Instead, financial marketers need to employ performance marketing measures that offer real, tangible value to drive sales.
Gregory Bailey ([email protected]) is President and CPO at Denim Social. He is an entrepreneur, angel investor and former company director with more than 25 years of experience in positions with a focus on product leadership, innovation, strategic marketing, marketing communication, P&L management, cross-functional leadership, strategic planning, sales, sales and division management. He is experienced in leading digital, social media and mobile experiences at the intersection of marketing and technology.
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