Read the original newsletter on Linkedin
Did you know that the majority of subscribers to this newsletter are either SME owners or senior executives?
This means that almost everyone who receives this newsletter has to wear many hats throughout their day.
Gone are the days when you are only a financier or a researcher. In today’s world, you need to be at the very least knowledgeable of the basics of every task taking place inside your organization.
That’s why I’m shifting this newsletter a bit to narrow the focus on one topic per issue. Please let me know if you want me to maintain a well-rounded newsletter or if you support the new direction 🙂 I’m always interested in what you want to read about.
With that, let’s jump in!
Marketing Strategies to Implement in 2022
This blog post by AppSumo, a software developer company, shares eight marketing strategies to follow. The focus here is more on growth marketing as both: management philosophy and business practice.
For example, companies like Airbnb and Uber prioritized aggressive growth, reach, and influence in their earlier years over traditional business metrics like profitability and having a positive balance sheet. However, the point is to strike the right balance between the two to achieve long-term goals
I’d like to highlight here only the easiest ideas you can implement today. But, please read the entire article to get even better ideas:
1- Leverage user-generated content. The best example here is making use of customer reviews. You can simply turn them into a series of posts. Share and promote images taken by average-joes of your business. You can even ask followers to send you content such as quotes they love.
2- Offer genuine, authentic, and culturally relatable content. This point translates to sharing reels that help show users that you relate to them culturally and build familiarity with them.
3- Repurpose content. Many small business executives view creating content as a necessary evil, but what if I told you that you already have tons of content on your laptop? Educate your followers on your services; how you can help them; your story; divide old articles and share them on social media; combine social media posts into a blog post.
Do you sell physical products? Here’s how 3 companies grew their revenue with social media shopping tools
According to HubSpot, a marketing platform, 57% of consumers report social media as their preferred method for discovering new products. While the data is from the platform’s US Trends study, it makes sense, that the figure is probably the same for the MENA and EU regions.
Here’s the full article summarizing the findings, and here’s my take:
1-Facebook is the most popular social site for purchasing products, with 36% of consumers reporting they have purchased a product directly from the platform.
The post featured, as an example of Facebook Shops’ impact, Pink Tag Boutique, a Kentucky-based clothing and accessories boutique. Facebook alone secured $44,448 in incremental sales. Not only that, but the average order value of shoppers on the platform is 66% greater than that of shoppers who bought directly from the website.
2-For Instagram, the research showed that 26% of consumers prefer to discover new products via short-form videos like Instagram Reels.
3- TikTok is the right tool if GenZ is your main audience. Abbott Lyon, a fashion accessories brand, saw huge success with TikTok’s value-Based Optimization (VBO) bidding strategy. The company increased its return-on-ad-spend by 31%, and an increased order value by 13%.
Speaking of return on investment in marketing, I shared on Instagram a few tips to increase your newsletter open rate and generate more leads.
Shifting to advertisements, Click-through rates (CTR) can be your core indication of how your advertisement is performing.
hashtagCTR = (clicks / Impressions) x 100
Or in simpler terms, CTR is It’s the number of people who clicked on your ad (clicks) divided by the number of times your ad was seen (impressions).
There are many ways to interpret CTR performance, but I like to keep things simple, and for me when you are advertising on a website directly, not through GoogleAds, your CTR performance means two things:
1- If your CTR is high it means that you’re grabbing attention with the right message and visuals, and more importantly your advert is in the right place.
2-If it’s low it means you may be at the right place, but your message isn’t making an impact. Either way, in that case, you need to either change the message or where you are advertising.
What about GoogleAds average CTR?
For display ads, the ones placed on websites it’s 0.35%, while for search it’s 1.91%.
What about CTR for specific industries?
Here are the global averages per sector. Data is from WordStream by LocaliQ.
P.S: If you like this type of content, follow our Instagram we share informational bits like these all the time.
For more in-depth information, follow The Business Storyteller on Linkedin
Finally, here are some awesome downloadable guides that will help you grow your business’ social media reach: