Paid Social Media Will Save Yeti!

Ready to see Yeti make a splash back into the social media scene? In this blog I will describe the ins and outs of paid social media and how it can attract existing and new customers to increase engagement, boost leads, and improve sales. Then I will tie these concepts back to Yeti and how they can improve!

Agenda

1. What is Paid Social Media?
2. Key Components of Paid Social Media
3. Strategies Used for Paid Social Media
4. Tying Back To Yeti!
5. Wrap Up

What is Paid Social Media?

Paid Social Media leverages social media channels like Instagram, TikTok, and YouTube to advertise to new audiences very effectively. Unlike organic social media, which relies on unpaid content to engage followers over time, paid social media delivers immediate visibility and precise targeting. This method not only boosts awareness but also increases leads and sales. By casting a wide net, paid social media is an extremely useful tool to attract potential customers.

Key Components of Paid Social Media

• Boosting Posts: This is a paid service that enhances the visibility of content to reach a larger audience beyond current followers. Which increases engagement and awareness.
• Sponsored Posts: This involves paying to promote specific content, which is often done with the help of influencers (check out this blog to see the many types of influencers) which leverages their audience and credibility. This helps the brands reach and engagement.
• Targeted Ad Campaigns: Create tailored advertisements directed at specific audiences based on their demographics, interests, and behaviors. This helps with reach, engagement, and conversions.
• A/B Testing: AB testing involves the comparison between a control group using the original version "A" of the website vs the experimental group "B", which uses a modified version of the website to test whether the modified version leads to statistically significant improvements. A/B testing allows for continuous improvement, which ensures that paid social media efforts are effective, for instance this helps companies understand the right amount of ads to post before it annoys consumers. (To Learn more check out my blog on A/B Testing).

Strategies!

Prospecting, Retargeting, and Remarketing are essential strategies in paid social media. Prospecting is a technique used to search and find potential customers, providing them content that they could be interested in, this can be done with no prior engagement with them. Retargeting is a technique that is used to show ads to users who has had prior engagement with your website but did not make any conversions, this tactic is trying to pull them back in to get them to make the desired action. Remarketing is a technique used to reconnect past website or app visitors after they have done a desired action and provided you with their information.

Custom and lookalike audiences are essential for target advertising. Custom audiences allow brands to segment users based on specific preferences, this is done on previous website visitors, email subscribers, or cell phone information, aka people who have previously interacted with the brand. Lookalike audiences are able to expand reach by targeting new users who resemble existing customers.

Tying Back To Yeti!

Yeti can enhance its paid social media by utilizing existing customer data to create custom audiences. By using targeted ads to users who are familiar with the brand, Yeti can increase engagement and conversion rates. After using these custom audiences they can start to establish lookalike audiences to reach new customers who share similarities with other existing customers. Yeti can run a variety of targeted ad campaigns using paid social media, on channels like Instagram, Facebook, and TikTok, focusing on raising brand awareness, driving more traffic to the website, and improving conversion rates. Yeti has proven in the past that this tactic works, between 2020 to 2021 Yeti was able to successfully grow their web traffic by 71%. Since 2021 Yeti has slowly lost market share and it is time to revamp the company with the power of paid social media.

To maximize its efforts after establishing its target market they should track their metrics using KPI's like:

• Cost Per Click (CPC): When an advertiser pays a cost to a publisher when their desired medium was clicked on.?
• Cost Per Action (CPA): Cost Per Action is the total cost spent to receive the required actions from your customers.
• Return on Ad Spend (ROAS): ROAS is a metric used to show the effectiveness of an advertising campaign by comparing ad costs to ad revenue.
• Return on Investment (ROI): This is a very important metric used to measure how well an investment paid off.

This can all be done through Google Analytics (Read my blog to learn more about Google Analytics). This will track campaign effectiveness where they can refine their strategies.

By effectively using custom and lookalike audiences, running target paid social media campaigns and closely monitoring performance, Yeti can improve its digital marketing strategy. This will give them a new opportunity to reconnect with existing customers but keep growing and build new customers.

Feel free to share how paid social media has played a role for you!

Thank You For Reading!