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The holidays are… sort of upon us?
In my family, the annual joke is that if my mother starts asking about the holidays one month earlier than last year, we’ll eventually be giving her our gift wish lists in January!
If your world is anything like mine, the holidays seem to come earlier and earlier every year.
No more than 12 hours past Halloween, we’re flooded with December holiday themes, nearly bypassing Thanksgiving entirely.
The days get shorter, service providers get busier, and every company with a retail item has something they want you to buy.
And while no one wants to be a Scrooge, it can be tough to think about building a holiday strategy this far out.
Especially because the global pandemic has shown us that each day can either drag on, or circumstances can change in an instant.
But that’s exactly why you should be putting together your strategy now instead of taking the “wait and see” approach.
You should be thinking about why you need to start earlier and what you can do to stand out.
And know the things to keep in mind as we move closer to the holiday season alongside a thick air of global uncertainty.
Here are a few ways this year is a little bit different.Earlier Online & More Spread Out
We all have seen the numbers.
People are spending a lot more time on the Internet than usual these days.
After all, what else is there to do when you’re stuck at home on quarantine or you’re working and/or studying from home all day?
But more than that, people are understandably concerned about in-person touchpoints in their shopping experience.
This is driving more people to online purchases than ever before.
Suddenly, you’ve got a lot more lingering eyes on your shopping cart page than a year ago at this same time.
And people are finding themselves doing a lot more online shopping than usual.
You could say it’s due to a need for dopamine.
And the relatively new concept of “anxiety shopping” – anxiety over what the future holds and a need for present-moment comfort.
That is if you still needed validation for the new impulse buying habit you’ve picked up in the last six months.
People are also being encouraged to complete their holiday shopping earlier this year.
Brought about by concerns over COVID-related delays in shipping or supply chain issues.
All this compounded by the uncertainty over the future of the pandemic and whether jobs will stay secure.
This means that the shopping may start early and actually may be spread out throughout the holiday season, as changes materialize.
But the moral of the story is this: People are online and they’re buying so you need to get your brand in front of them.
And you need to do it now.
Tip: If you’ve been uncertain over whether or not to add a commerce function to your site, now is the time to make that happen.
People will be buying online.
And there is no way to guarantee that, two or three months from now, brick-and-mortar shops will even be able to stay open for in-person shopping (as we saw five months ago).
Salesforce research shows that 50% of all seasonal retail revenue is complete by December 3, meaning you can’t afford to delay.
If the first quarantine and decline of in-person shoppers caught you unawares, don’t let it happen again.
Invest in a commerce function on your website now, or at least start listing your products or services on Instagram, Pinterest, or another third-party shoppable site.
Make sure you don’t miss out on major online sales and all your shopping revenue.DYK?
Recent studies show that the pandemic has changed our Internet behavior.
Desktop use is back on the rise, while mobile app use has suffered a bit of a dip.
If you’ve been taking great pains to fine-tune your mobile strategy, you don’t need to take the effort away from it (people are still using their phones).
But you do need to spend time to make sure your desktop experience is just as beautifully optimized for all the incoming traffic.Why Spend Twice as Much for Just as Many
This is one preparation that never changes; but this year, it might just be amplified.
Every year in September, we start preparing our clients for the upcoming holiday season.
There are more and more businesses spending money for the first time, and more of them spending more money than they did all year long.
What does that mean for you?
Greater competition for the same eyes.
Prepare for things to cost more – and expect to get poorer results overall, on average.
But that’s every year.
Here’s where this year is different:
First of all, we’re in an election year in the U.S.
While there is always more competition for eyes during this time of year, it’s compounded by the amount of competition that only comes out once every two to four years.
There are policy changes or ballot measures as well as publishers reporting breaking news stories or running election guides.
You’re competing with far more than just other businesses. You’re competing with the fabric of governing structures.
And I don’t know if you’ve noticed, or if I’ve mentioned it enough in this article, but we’re in a pandemic.
So don’t be surprised if you have to spend more than twice your normal ad budget to get the same results.
Tip: Get in touch with your deeply creative side for this holiday season strategy.
You’re competing with a lot of noise that makes people nervous, afraid, exhausted – or it makes them feel assaulted with demands to buy products or donate money.
Give your audience something fun and lighthearted.
People need more happiness to hold onto.
Be the brand that gives it to them!Don’t Feel Like You Need to Push Sales Right Now
Ah, but you don’t need to offer sales right now – it’s about so much more than that.
Think about it:
What do people know about your brand?
Do they know your brand at all?
What better time to start telling them all about your fabulous brand with its fabulous products and services than right now, before your holiday sales kick-off.
Even if the concept of the marketing funnel is supposed to be dead or something, it still serves a purpose.
You know that you have to keep the funnel full by adding more people at the top, unless you want it to eventually be empty.
So, run your Instagram Reels.
Make engaging Facebook (and now LinkedIn) stories.
Experiment and A/B test with carousels and GIFs and videos – but just make sure you’re in the game.
You’re getting people interested in your brand and leaving breadcrumbs along the way for your big holiday reveal.
And also, any sales you make in the meantime is gravy.
Today, more than ever, people are buying from companies that share their values.
So don’t be afraid to talk about them!
People are more likely to buy from a brand that has a message they care about.
Whether it’s supporting a nonprofit for Giving Tuesday or letting people know about the care that goes into designing and manufacturing or selecting products for sale.Be Ready to Pivot
As a marketer, I know it’s en vogue to roll our eyes and groan about every new change delivered to us from the Advertising Platform Gods.
I get it.
But also, I get really tired of hearing the complaints, especially when they’re connected to stubbornness and a general refusal to make the changes necessary.
Pivoting, adjusting, and adapting is literally the job.
Right now, we’re in a constant global PR crisis of sorts.
There are fires and a pandemic, a general election, and justifiable civil unrest.
Every day is a new exercise in how our brand should respond to the current happenings, especially this year.
And then you should be prepared to completely scrap it at a moment’s notice.
We have zero idea what the last quarter of the year holds for us.
The business owners and marketers I’ve seen thrive this year have had one thing in common:
They pivoted early, often, and were ready to make changes at a moment’s notice.
They gave themselves a moment to grieve their previous plans, and then they got to work.
Conversely, I saw a lot of businesses and marketers struggle because they sat around doing the “wait and see.”
They stayed frozen and indecisive, hoping and praying day after day that the winds would change course and blow in their favor.
Don’t wait for a virus or a civil movement, or a natural disaster to tell you what to do.
It’s your job to figure it out early and quickly, and adapt.
So make the plan.
Just be prepared to scrap it on a dime.
Tip: Build pivots into your plan.
It’s good common practice to have a plan in crisis for both internal and external communications.
And this is a great time to flex that muscle.
No, seriously, what could go wrong?
Then plan for each possible thing.
If there is another quarantine and we have to move to ecommerce only, how will we adjust our language? Our retail partner strategy? Our own ecommerce strategy?
If there are more layoffs and fewer people can afford to make purchases, how will we change our messaging?
How will we respond with compassion, but also so that we can salvage our own business?
What happens if the Advertising Platform Gods change rules, regulations, or algorithms?
Force yourself to see the worst-case scenarios unfolding before your very eyes.
This holiday season will be fraught, no question.
Don’t stand by and wait to see if things work out the way you want them to so you can launch the strategy you normally do.
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Here are a few transcribed excerpts from our discussion, but make sure to listen to the podcast to hear everything!How Social Media Advertising has Evolved
Within digital media, it’s always interesting to see how consumer habits change over time.
Looking at the pace of change, it always seems like the thing that pops up this weekend becomes popular where it’s completely unexpected. Of course, it’s very hard to look into that crystal ball and see where things will be in five or seven years.
I think where we are today is really the age of platforms, as everyone is saying.
It’s been really interesting to see what’s happened. Again, I think where we are is less transactional, more relational.Distinguishing Good Content
Smartphones being ubiquitous, what’s the right ad experience on mobile? It’s not going to be that kind of display banner from desktops shrunk down into a smaller space. How do we build something that’s immersive and full-screen and engaging and get somebody to raise their hand while they’re looking for that dopamine fix and scrolling through Facebook? Let’s give them a good experience here and let them go further on their own.
I think it’s an interesting way to look at it. We’ve seen success with that for some of our clients and not repurposing creative, but really building something that’s native to the platform.
It even plays into digital video. When you look at digital video and you’re going to run it in the Facebook environment, I think everybody now realizes it’s auto-play, it’s silent, it’s subtitled. What’s the right approach for that? How do we load our branding front end?Finding the Most Accessible Platform for Your Content
There was Kodak. Now there’s really no longer Kodak, but there’s Instagram.
We’re still interested in photography and photos and sharing things and creating memories and preserving them. I think that’s the overall point that there’s some innate human things that are going to continue. It’s just what is the platform.
It may be fluid and it might be Facebook. It might be a little bit different. It might be something new that’s still in development.
The tricky thing with digital is really overall tracking. That’s a question that comes up from clients all the time is what is the overall spend. What percentage of our budget should be in digital? How do we decide that for social media? Social can be very hard to track and digital as well.Transformation in Media Usage
I guess in the overall industry trend over the last five years there’s was sort of a race in marketing tech and ad tech to add more tracking, to go deeper and understand these discreet segments and hyper-targeting populations and looking at everything at the most granular level.
Now we’re hearing Procter & Gamble’s pulling back in a sense. Some of this could be a negotiating power as they’re looking at their overall budget with Facebook. I think the point can also be true that as they’re looking at Facebook overall and saying here is two hundred data points against each of these people, how do we then want to divide up our brand spend for direct response?
Everything is infinitely measurable, but is that really the way to invest in the platform and the way to approach the audience in that transactional manner? Whatever happens, we’re still going to be looking at a sales funnel to some degree.Is Social Media Worth Investing Your Time and Money?
I think it’s really talking to the client about their own goals, their target, understanding within that full target analysis, who are these people, what are their typical media behaviors, weighing social media against everything else that they’re doing in their daily lives and then the budget. How much budget is there and how far can we stretch it?
If we look at those priorities, the audience might be fifty-five and older. They’re primarily broadcast, primetime viewers with a little bit of light online. Maybe they’re checking their bank statements and the weather or Facebook to follow-up with the grandkids, whatever it is. Again, it’s unique to each budget, each brand, each target.Making Your Brand Constantly Top of Mind
Everybody has been talking about Olympics for the last week since it wrapped [a few weeks ago].
I think NBC is learning some hard lessons about trying to force fit content into the traditional broadcast primetime model and looking at an opportunity that was served up for a multitude of sports where people can go as deep as they want and follow everything as it’s happening.
We do live in that world now where everybody gets breaking updates in their smartphones. If you’ve downloaded the app, you’ve opted in for the notifications; you’re going to see the notifications throughout the day. This broadcast partner has decided that they’re going to repackage the content and air it in primetime. I think there’s a limitation there in what they were expecting to happen with the TV viewership that didn’t really match what they were doing online.
I think that just allowing the user to be free to engage where they want to and on their own terms and to go as deep as they want. What are you going to lose by having them go further in digital? You’re giving them the content they want.
It’s going to trend on social regardless. Don’t fight it. Go with it.To listen to this Marketing Nerds Podcast with Caitlin Rulien and Boz Boschen:
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Our financial services social media strategy recommendations and best-practice case studies put you in the driving seat to accelerate your financial services’ ROI from digital marketing
Social media is sometimes perceived as less relevant in financial services compared to other channels such as search, display, and aggregators. There are well-rehearsed objections to investing more in social media in financial services. However, we will see by the examples in this section that creative options are possible within the constraints of compliance.
Companies are recognizing that social media provides a wealth of value, enabling differentiation through human communication. They are driving value by integrating this with their CRM systems, tracking ROI, and ensuring compliance. To drive such value, organizations expect solutions to help them track ROI, integrate with CRM solutions, provide compliance, and offer best-in-class publishing tools. To address this, we have covered a number of trends and innovations in the financial services industry which, alongside social media trends featured in this blog, help marketers and managers an integrated marketing strategy for their financial services businesses.Financial services social media for the affluent millennial audience
The rise and rise of affluent millennials has led to a trend of lower-funnel-focused programs where FS companies deploying a wide range of successful marketing tactics, as part of a full-funnel strategy to acquire new clients create a specialized program for investments that specifically targets the highest-value and most profitable customers.
Reflecting on their choice to use LinkedIn to achieve this one company Digital Advertising Manager said “LinkedIn provides us with the opportunity to target these potential prospects with self-identifying information through profile targeting, we can target these prospects based on post-secondary affiliations, their job functions, and also their job titles.”Financial services marketing strategy
Below, we’ve put together our social media strategy recommendations for financial services marketers based on the current trends and innovations in the sector. Social media is a huge part of your business’s online presence, that’s why we’ve broken it down, channel by channel.
Moreover, Smart Insights offers financial services marketing strategy across all aspects of the marketing mix, plus strategy and planning for marketing leaders. You can download our free financial services marketing trends 2023 report to discover 8 further industry trends which we recommend considering as part of your integrated marketing strategy. Find out more.
Financial Services marketing trends 2023
Accelerate your growth in 2023 with trends, examples, and practical strategy integrated with our RACE Framework
Get Started TodayInstagram SoFi uses Instagram A cautionary tale – Influencer marketing on Instagram
There is a wide variety of different influencers that you could engage with, so focus your engagement on certain types of people that you feel will best communicate your message to your target audience. According to Onalytica, there are four key measures of influence that you should analyze to find the key influencers in your market.
While these elements are important you need to consider the message they will be sending in the wider context of your audience.
An example of where this balance was deemed to be “not in the best interests of the public” was an Instagram influencer campaign conducted by Klarna, the Swedish firm which allows staggered payments for products with no fees or interest and has proved popular among millennials.
The company ran a social media campaign on Facebook-owned Instagram in April and May of 2023 using four influencers to encourage people to use Klarna to shop to “boost their mood”.
While it was acknowledged that “treating oneself can elevate mood” the regulator felt that the promotion of deferred payments was not compatible with the intended message. As a result of this campaign and similar ones, the Financial Conduct Authority is looking at operators in the “buy now, pay later” sector as part of a wider inquiry into the unsecured credit market.LinkedIn
LinkedIn remains the central social channel for financial services organizations, now reaching 590+ million professionals. 98% of the Forbes Fortune 500 list are using LinkedIn, with content amplification and connecting with prospective clients continuing to be the top reasons for use. FinTech companies, who have typically invested in Facebook as their primary channel, are investing more in LinkedIn with FS organizations increasingly using their CEO or senior leadership figures to amplify their content through personal insights and thought leadership articles.Facebook
Owing to financial services organizations being rich in customer data, we are seeing an increase in the uptake of custom and lookalike audience modeling on Facebook. Mobile video is popular, including brand discovery via the Explore tab and the use of Facebook Groups, with encouragement from the use of AI. Messenger can also be used for one-to-one communication and branded Facebook Groups relating to personal finance and career topics.YouTube Snapchat Twitter
Twitter is commonly used by financial services organizations for amplifying content, monitoring brand mentions and customer complaints, and locating buyer-buyer-ready signals. All of the Fortune 500 insurance companies, commercial banks, and financial data service companies have a presence on Twitter.Financial services social media videos
Financial Services marketing trends 2023
Accelerate your growth in 2023 with trends, examples, and practical strategy integrated with our RACE Framework
Get Started TodayConsumer privacy laws: GDPR and ePrivacy
You will be aware that the General Data Protection Regulation (GDPR) (Regulation (EU) 2023/679) came into force in all 28 countries in Europe in 2023. It is a regulation agreed by the European Union, which seeks to improve transparency and the effectiveness of data protection activities. The legislation highlights the importance of obtaining consent from new and existing customers, who subscribe to mailing lists and have their data stored in CRM and other systems.
Social media campaigns are most effective when each platform is working together consistently under a common theme, with the unique messaging and content types customized for each channel. Appreciating the strengths of each major social media platform assists financial marketers in establishing a focused and manageable social media strategy. A good example is TSB who has used social channels with a consistent tone of voice and frequent messaging promoting its brand position.
Our financial services trends report covers a great number of trends and innovations in the sector so you can implement an effective, integrated marketing strategy.
Financial Services marketing trends 2023
Accelerate your growth in 2023 with trends, examples, and practical strategy integrated with our RACE Framework
Get Started Today
Bad Password Etiquette You Need To Do Away With Right Now Finding It Hard To Remember Passwords? Worry Not! We’ve Got The Solution
For each wrong password etiquette mentioned above, a password manager is a solution you are looking for. And, trust us on this, there are some great password managers out there to choose from. Let’s talk in brief about two of the best password managers – (i) TweakPass (ii) LastPass
Also Read: TweakPass Vs LastPass Vs Dashlane – Which One Should You Choose?
Feature You Can Expect Significance of The Feature TweakPass LastPass
Strong Password Generator You won’t have to remember passwords and each website/ account can now have separate strong complex passwords. You can choose the password length, character length, character types, and many such elements and even save yourself from remembering passwords every single time ✔️ ✔️
Passwords and Other Data Can Be Synced On Various Devices Your passwords and data are secured and can be accessed from everywhere. You can access them from your computer, smartphone, browser, and other devices as well ✔️ ✔️
Impenetrable Multi-Layered Security The password managers are backed with military-grade security that prevents you from all kinds of online threats ✔️ ✔️
Auto-fill Forms You don’t have to enter the same details again. The feature lets you auto-fill the details ✔️ ✔️
Secure Vault Not just passwords, you can secure other crucial credentials such as SSNs, credit/debit card details, bank account details, and the likes in a master vault ✔️ ✔️Things You Might Be Doing Wrong To Remember Passwords
Let’s have a look at some of the wrong password etiquettes that you need to put down immediately and prevent your online presence from cyber attacks –
1. One Single Password Doesn’t Fit All
2. Sharing Passwords Is A Big No
When it comes to passwords – sharing is not caring.
Immaterial of who it is you are sharing your passwords with – your best friend, your most trusted colleague, your family member, or anyone else, the act of sharing passwords is a big no! We are not saying that the person you have trusted your password with will deliberately disclose it to the world but, he or she may not use it with the same care as you do. Let’s say, they might key-in your password for logging into an account on public Wi-Fi and then forget to logout. Or, they might accidentally disclose it to an onlooker. Other security dangers that sharing password poses include –
The other person may use your accounts for something illegal or non-permissible
You might lose ownership of all your accounts
Your accounts will become more prone to phishing attacks
3. “Remember Me” Is Not The Right Way Of Remembering Passwords
It is so convenient to check the “Remember me” option and save yourself from the plight of remembering passwords. And, you would probably find this option on all major email accounts, social media platforms, and all major websites that require you to log-in frequently. Where can this option be dangerous? Let’s say – you are not the only one using your computer and there are other users too who have direct access to your computer. They’ll easily be able to access your account, using this option.
4. Not Updating Passwords Frequently
You have created strong passwords for all your accounts once, but shouldn’t you change them once in a while? Many of us have a habit of not changing passwords across the board. Whether it be the passwords for our social media accounts, online banking accounts, email accounts, or any other platform, we hardly care to change them. It is highly recommended that you change your passwords across all your accounts every 2-3 months.
Now, here’s how frequently changing passwords can save you from a probable cyber attack –
Prevents keystroke logger attack
Multiple accounts can be safeguarded
If you use saved password and change computers, another user won’t be able to use saved passwords
5. Using Passwords That Are Not Complex Or That Are Too Short
Again, it is quite understandable that remembering long passwords is not an easy task. But, until your password isn’t complex enough, your accounts are vulnerable to hacking. This is why security experts suggest that you create a password with a specified number of character lengths (e.g. 14 characters) or mix it up with several characters. One of the reasons why you are told to do so is because the more complex your password, the harder it will be for even password cracking software to crack your password.Wrapping Up
The need of the hour is to break the aforementioned bad password habits so that your information across the web can be saved. We’d again like to reinstate that using a password manager is one of the best things to safeguard your online identity. If you liked the blog, do give it a thumbs up and for more such content, keep reading Tweak Library. You can also connect with us on Facebook, Twitter, Linkedin, Pinterest, Flipboard, YouTube, and Tumblr to stay updated on all the new content that we frequently churn out.
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About the author
What is Media Plan?
Digital marketing, conversion rate optimization, customer relationship management & others
Media planning is making a decision to choose the right way of putting your message across to the target audience. The message of introducing the new product to your existing customer and also targeting new prospective customers. This needs to be done correctly in order to make it extremely effective.
During the process of the media plan, a few questions need to be answered.
Who are the target audiences?
What types of media can reach out to how many target audiences?
Which media should be used to place the ad to reach out to the audiences effectively?
What should be the frequency of the ad placed in various ad vehicles?
What should be the budget for each ad vehicle?
Marketing has budget constraints for every organization. Advertising for promoting the goods and services of an organization is mandatory in any competitive market.
Try using local newspapers with limited reach. Local magazines, even in the local language, are perfect, cheaper, or no-cost social media to reach a less targeted audience to spread awareness.
Choosing the right media plan will help you effectively convey your message to your target audience through the right ad vehicle. A media plan is a process that is successful only if planned well.
Of course, social media planning needs many analyzes, objectives, and strategies to implement in order to get the right output. The motive needs to be achieved.
Marketing always aims to create a need for the product and service amongst the target audience through effective content. And that is not it. The content must be displayed and flashed through the correct ad vehicle within the given budget to maximize profits and avoid losses.Process of building an effective media plan
Look at the process of building an effective media plan noted below:
To choose the correct media plan vehicle to promote a product and service, you need to make sure you do1. Market Analyses
Before entering the market with a new product or service, you research the market, the types of audience in the set or given market, their description, preferences, etc.
What is important is to know the market or analysis the market before you introduce a product or a service in that market. In short, you will analyze the market. Once you analyze the market, you will know how to create awareness amongst your target audiences.2. Create an effective media objective.
Your main objective will be to reach out and create awareness about tour products and services amongst your target audiences to increase your sales and profitability within a budget.
Remember that your media objective is very important as it is the goal of your media plan. Your goal should answer the following questions.
How many audiences should your media vehicle reach out to?
How and how much should the ad circulate to be effective enough to meet your promotion and sales expectations?
How much should you spend on what media vehicle?
Remember, your goals that your media objective need to be appropriate to attain the correct profitability by spending as less as you can. It is only about promoting correcting.3. List down marketing issues.
You might face hurdles in different business stages, from production to selling and servicing. Some hurdles might be huge, and some small. However, every problem has solutions, and not one may be more than one.
All you need to do is choose the correct solution and implement it. Like other stages, you will face issues or problems even in marketing. List all the issues you can encounter while promoting your product and services.
Look for solutions. You can solve these problems and hurdles in a number of ways. However, the motive is to get the most effective solution.4. Strategize
These media plan options include television, radio, newspaper, interactive media platform, magazines, and digital media. Choose the media bases on the set media objective; remember that is your goal. Your ad vehicle should be able to meet your social media planning goal.
You should be able to differentiate
Which option reaches the maximum target audience?
How many times will your target audience be able to view it?5. Your media vehicle should be able to do the following
Reach out to<
You have a set number or a certain percentage of audiences you would want to focus on. Your media vehicle should be able to reach that number or that percentage of people. The reaching out can be reaching out to individuals or homes and families in a specified period of time.
You need to know how often the media vehicle flashes your ad, the average daily flashes, or a set period to expose it to your target audiences.
Averagely for a consumer to realize and take action, it takes more than 3 times. Hence considering and knowing the frequency is important.
Cost per thousand customers
The impact that it will create
Degree of selection
You aim to reach out to most of your prospective audience. Now this is true that anyone can be your next prospective customer. However, how many and who can be your most logical prospect, and up to what degree can you select to target your logical prospect audiences?6. Implement your strategies 7. Evaluate the results
After you reach the implementation stage, you must sit and wait for the results. These results can be in sales and profits, as mentioned earlier. However, is it meeting your expectations, was the effort enough, and were your analyses correct? You are aware of your media plan objectives and your media goals.
You need to understand if you successfully met your goals and objectives. Were your strategies successful? If this media plan of yours works out well, it will help you determine your other media plans.8. Follow up and continue promoting
Promoting a product and a service at its launch to introduce it to the public and then not promoting increased sales or publicizing it is incorrect.
You want to reach out to your target audiences in different ways, and discontinuing promotions of your goods and services wastes all the effort you put into understanding the market and promoting accordingly.
Ensure you are in touch with your customers and know them better as you deal with them. Knowing your audiences better will help you promote and expose yourself to your goods and services better than you promoted before.
Keep the follow-ups on and continue to promote your goods and services to get more exposure to gain better publicity and more business.Conclusion
Knowing the market and marketing accordingly is extremely important to be successful in your business. You can sell better only if your products and services are exposed to your target audiences better.
Target audiences can be your existing prospect or logical prospect customers.Recommended Articles
Here are some articles that will help you to get more detail about the Media Plan, so just go through the link
Some time ago, I stopped listening to the same, tired Spotify playlist every morning and began listening to podcasts.
Packed with information and the perfect sprinkle of entertainment and light-hearted banter, podcasts are incredibly engaging and a useful medium for businesses and listeners alike. They are the sleeping giant of content types, though.
Most businesses don’t understand the true potential behind podcasts. And there’s a huge number of reasons why they are the perfect addition to any existing content strategy.
Let’s explore ten of the top reasons to add podcasting to your content assets.1. Podcasts Have Low Competition
The content marketplace is competitive, like really competitive.
Successful digital marketers find big wins with their content when they find a content type or topic with high engagement and low competition. That’s exactly what a podcast provides.
While there are around 80 million Facebook business pages, there’s only 700,000 podcasts airing. This number shrinks when you search by topics.
There may be only a handful of other podcasts discussing the topics relevant to your business, with hundreds-to-thousands of listeners.
With this low competition, it’s far easier to have your podcast stand out and gain listeners!2. Engaging & Convenient for Listeners
Podcasts require little effort to engage with, on the listener’s behalf.
Unlike written blog content, which has to be read, or even videos that require audiences to sit and watch. All a podcast listener has to do is hit play and listen.
It’s the perfect content type for multi-tasking, which most of us are doing on a constant basis anyways.
If content is too demanding of time or attention, it’s hard for audiences to want to engage.3. Another Mobile-Friendly Content Option
Part of the low-effort, multi-tasking richness of podcasts is due to how mobile-friendly this medium is.
As I mentioned, I enjoy listening to my favorite podcasts during my commute, through my smartphone. And, I’m not alone; 69% of podcast listeners are on their mobile devices.
As we increasingly choose mobile devices over other technologies, adopting mobile-friendly content types is important.
It’s easy for podcast listeners to consume this content while they are on the move, whether at the gym, in the car, relaxing at home, or elsewhere.4. Growing in Popularity
The number of podcast listeners is growing.
There were 48 million weekly podcast listeners in 2023, according to Statista data. This audience is expected to grow to 115 million by 2023.
This is a big turning point for podcasts and an important time period for marketers looking to begin creating a podcast.
Now is the time to get started, since more businesses are going to begin creating this content and developing their audiences.
Getting into the podcast game now will allow you to beat the crowd and begin developing an audience before the heavier competition sets in.5. Podcast Audiences Are Extremely Loyal
Developing a podcast audience ahead of the competition is incredibly important because listeners are loyal to their favorite programs.
They establish relationships with the host(s) and want to check back each time there is a new podcast episode.
If you can establish a strong audience before the podcast boom, it will be hard for your competitors to attract those listeners to their own shows.
This loyalty also translates to other marketing channels. For example, podcast listeners are 20% more likely to connect with a brand on social media.
When the podcast is over, audiences will turn to channels like social media to continue the conversations and interact with each other and your business.6. Interactive Options for the Audience
One of the reasons that podcasts are so engaging and foster such loyal audiences is because they are very interactive.
Hosts can create audience polls, answer questions, and take “calls,” just like a traditional radio show. This helps pull listeners into the show and makes consuming the content feel more like an interactive experience, rather than simply listening to audio.
This interactivity helps solidify that connection with audiences. Very few content types offer this level of brand-customer interaction.
You can also interview other experts in your industry, which helps build your professional network and establishes credibility in your field.7. Scalable Costs for the Creators
In terms of creation costs, podcasts are scalable. Like photo and video content, the cost to create is really dependent on quality.
Smartphones shoot exceptional videos and photos, but if you want to raise that content to the next level, then you need to invest in more expensive equipment.
The same is true for podcasts. You can capture good audio with relatively cheap equipment bought on Amazon. However, the quality may not be up to par with what audiences are used to from long-established podcasts.
As you develop your audience, you may decide to increase your podcast budget to include more expensive equipment. Luckily, this is totally controllable; you can scale costs to meet the demands of your audience.8. Establishing Thought Leadership
Aside from offering customers value, one of the primary reasons that we develop content is to establish credibility and a reputation as a thought leader in the market.
This is why informative articles, case studies, guides and all manner of other well-research content assets are so valuable.
They help showcase to audiences that you provide helpful information and solutions to their questions and problems.
Podcasts are very impactful at growing this reputation as a credible, expert source because audiences get to hear it right from your own mouth.
If you’re passionate and invested in what you do, as most business owners and marketers are, then it should be no problem conveying these emotions across in a podcast.
Audiences will hear it in your voice!9. Disposable Income Demographics
The average listener earns around $10,000 more than the average U.S. consumer, according to a 2023 report on podcast consumers. And, 15% of listeners earn over $150,000.
These individuals are also more likely to be college-educated than the typical consumer, as well. Thus, they are more open to absorbing new information, learning about complex ideas and purchasing decisions.10. Content Publishing Consistency
All of your blog posts and other content pieces should be scheduled, but audiences may not ever take notice, like they will with a podcast.
If your podcast airs on the same day each week (or same time each day), listeners will get used to the schedule. They’ll expect and anticipate the release of each podcast episode.
Not only does this help build buzz surrounding your show, but it also guarantees that your business’ name stays on the minds of audiences all week long. This does wonders for brand awareness,Conclusions
Podcasts bring a lot of benefits to a business’ posting strategy.
Some of these benefits, however, are dwindling, as these online, radio-like shows become more popular. The competition for podcast audiences is heating up.
If you’ve ever thought about beginning to record a weekly, or even monthly, podcast for your customer to listen to, now is the time to start!
You’ll be able to establish that loyal audience, before your competitors enter the podcasting space.
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