We hosted our first #CompassLaunchpad workshop, “Social Media Marketing for Business” at our spacious Compass center in Infinitus Plaza. Compass teamed up with BSD, a code and design academy in Hong Kong that provides in-depth technology education, a perfect pairing for the entrepreneurial crowd.
Sophia Nazer and Nickey Khemchandan, talented instructors from BSD, gave a compelling keynote theme to a packed audience about strategies to drive website traffic using social media.
Why is social media marketing is so important, and what can individuals and companies do to maximize their efforts?
First, the gurus tackled why social media matters. While it’s obvious that social media allows you to connect with your customers at a more intimate level compared to other forms of advertising, the level of impact has tremendously affected the traditional modes of marketing. It has not only made it cheaper to reach out to potential audiences but has made it possible to reach larger amounts of people; that is, if done correctly.
The gurus dived into some of the basics in marketing. Interruption marketing, as the name suggests, is when you disturb someone’s flow of activity in order to infiltrate with your brand – this includes TV / print ads, banners, as well as advertising on social media.
Then there’s inbound marketing, which is a more organic way of getting attention, such as through press or content creation. Inbound marketing is responsible for a staggering 90 percent of clicks on the web and comes at a lower cost, compared to the 10 percent that interruption marketing generates. Inbound marketing, much of which is done through social media, seeks out people’s attention instead of buying it directly, with a lower acquisition cost per customer. It is a win-win solution for any small business!
To develop a media campaign in the most cost efficient way possible, Nazer and Khemchandan advise planners to go with an agile campaign – one where the strategy, resources, plans, and campaign launches are not set in stone but are instead open to ideas and changes – as opposed to a traditional campaign they may be fixed over a 12 months.
But the most important part is to structure the campaign, a path that our instructors briefly laid out for us during their presentation This means examining who the prospective client is, possible pain points, channels to reach the audience, budgeting the promotion, ROI, and key metrics – all of which they explain in a clear and concise way.
What’s writing about social media without doing a little outreach of our own? You can follow Compass on Twitter here, like our Facebook here or connect with us on Linkedin. Keep connected to us to learn more about our upcoming Launchpad events, where we tackle all sorts of dilemmas and situations facing entrepreneurs today!