Sadly business continue to be impacted by the global pandemic and this has had a huge influence on Social Media usage. In this episode Lynsey breaks what has happened and who can be winning now on Social Media

Key take outs from this Episode

  • Facebook and Instagram usage is waaaaay up due to the crisis

  • Ad costs are lower due to big spend industries being restricted and there more stock left over to buy

  • eCommerce is booming

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(00:03):

All right, so it is the episode of the gospel of social media that I really didn’t want to have to make. But unfortunately we are in this crazy, crazy situation and the world has gone mad and I’m, I feel like I have to just kind of address everything that’s going on. So as much as I’m sure everybody’s sick of hearing about the words covered 19 and pandemic and crisis, but I need to help you address some of the stuff that’s going on in the social media platforms. There are some positives that there, and there are a lot of businesses out there that will need to be looking and pivoting and changing strategy so that they can, you know, obviously cope with the restrictions and the implications of what’s happening right now. So let me jump straight in guys into terms of what’s happening on the social media platforms now.

(00:50):

It’s a really interesting time for social because the growth and the usage rate of platforms like Facebook have absolutely skyrocketed, like almost 50% usage or increase in usage. Now on Facebook, Instagram obviously still a very, very popular platform. People are kind of discovering tick tock cause they’re just bored. Um, but Facebook really is the kind of center of light where we’re seeing a lot of the growth and a lot of the opportunities. Now Facebook is this kind of platform where when something really bad happens, it’s kind of like our town square. It’s a place where we can go to connect with our communities, with our friends, with our families. And it’s a place where we can go and seek out information and share. So it’s not surprising to see that the usage on the platform has really increased. The other thing that’s really happening on Facebook, and you’ll see this on Instagram as well, is the increase in usage and things like live video.

(01:42):

So we’re at home, we’re bored, we’re looking for information, we’re looking to connect and we’re looking to be heard. And so all of those behaviors are currently changing on the Facebook and Instagram platforms. Instagram is not getting as much content pumped out into the feed because people aren’t going out and you know, we’re not doing exciting things that we want to share as much in our lives. So, you know, that’s, that’s definitely pretty interesting as well. So what does this actually mean? Well, when there’s an increase of usage on the platform, now this combined with something else that’s happened, a lot of the large or high profile spending industries in Facebook and Instagram adverts, industries in travel, in entertainments and you know, events and sports events and things like that. They are very dormant at the moment because of the current crisis and therefore their spend has been massively, massively reduced.

(02:33):

So what’s happened is you’ve got the big players who are not spending as much combined with the fact that you’ve got an increase in usage on the platform, which means there’s an increase in the advert inventory that’s available. And so what that means is that you now have this, this kind of opportunity where there’s a lot of adverts stock that’s available to buy. And what that does is it reduces the cost of the advert platform way, way down. So that’s kind of what’s at the moment on Facebook. The cost of advertising on Facebook and Instagram has dropped dramatically. And that’s because of the increased usage and the decrease in competition. Now the other thing, interestingly, it’s happening at the moment is what we’re noticing is that we’re all inside, we’re all kind of bored. We’re not going out and seeing our friends. We’re not getting to, you know, be social.

(03:18):

So a lot of people are actually turning to online shopping for entertainment for a bit of a dopamine hit, you know, for something to look forward to. So what we have seen is an increase in a big spike up in E commerce. So when we call it, get out to the shops, if we can’t go and you know, see our friends, we are cheering ourselves up by shopping more online. Now this is happening in the lower to mid value purchase range. Obviously the high value ticket items given that the, the fragility of the economy at the moment or they’re really not moving but the lower the mid to low value sort of online items in things like lifestyle home where things in um, you know, skin care, beauty, entertainment, people are sat at home, they’re buying more scented candles, they’re buying more pajamas, they’re, you know, buying fitness equipment is flying out the door cause nobody can go to the gym.

(04:09):

So all of these industries are seeing massive, massive spikes in sales and in growth and in traffic to these platforms. So if you’re in one of those industries, it’s actually a really positive time for you and a real opportunity for you to actually invest into the platforms or even increase your spend on the platforms. Because if you combine the opportunity with the low advert costs, you can see some pretty sweet returns coming in from that. The other thing guys within that is that, you know, these trends are going to change and they’re going to move very, very quickly. So if you do have an opportunity to sell at the moment, I say make hay while the sun shines. Um, because in a couple of weeks time, if things change, if restrictions are lifted, we know that we’re going to see, you know, changes to the platforms, changes to our consumer behavior, and the opportunity might not be as rampant as it is right now.

(05:01):

So if you’re in e-commerce now is absolutely the time for you to embrace and for you to sell. All right? So what happens though, if you’re in an industry where you, you know, you are restricted from trading, you know, you can’t service clients, your people aren’t buying from you at the moment. You know, what do you actually do now and how do you actually, you know, future proof and help your business survive from this. So if, if you’re not in a position where you can trade, what I would encourage you to do is not turn off your adverts. You may need to reduce your spend down. But I’d want you to pivot your advert strategy and I say pivot your effort strategy. What I’m going to talk about is it’s not about that you turn off adverts or you move away from the platforms because as I said, there’s a lot of opportunity in the platforms right now.

(05:46):

People are using them. Ad costs very cheap, but if you’re unable to trade, if money’s a little bit tight, you don’t want to be going out there running big heavy campaigns right now. You want to be sort of lining, you know you’re filling your pipeline and getting things ready for when you count open the doors and trait again. So that’s what I would be encouraging you to do. If you are stuck in a place where your business is being very, very restricted. What I would suggest you do is to start building at the top of your funnel, start building out your pipeline of people so that when the doors do open up again and your business does have those opportunities, you’re ready to tackle them and embrace them. So when I say top of funnel, top of funnel activity guys is about making people aware of what you do.

(06:30):

It is educating people about your product or their service. They can’t buy it from you if they don’t know that it actually exists or that you do things in a certain way or your services unique or your product is unique. So it’s a great time to be advertising just simply for brand awareness. So grabbing hold of some of those cheap ad inventory grabbing hold of some of this video view ads grabbing hold of some of that attention that’s happening on the platform and making sure that your business is still top of mind. Um, and that you’re also building up an audience of people that you can potentially re target. It’s also a really good time to start nurturing relationships. Remembering that does this is temporary as much as it feels very big and very oppressive at the moment and how dramatically things have changed, there will be a lifting of restrictions.

(07:15):

Things will eventually go back to a new sense of normality. So what I think it’s really important that you do is keep nurturing the potential relationships that you could have, the potential customers that you could have and work on that. Now, one of the best ways you can nurture those relationships is the way that you produce content. This is your opportunity. Produce fallible content. If you have the time, and if you’ve got a little bit of the, know how you have got the opportunity to get your content under way. Okay? So when I say valuable content, you might not be able, let’s say your hairdresser right now, okay? You may not be able to think heritage is actually, no, you can still trade, but you may not be. Let’s say you’re a beautician. There we go. Um, let’s say your beautician and at the moment you can’t, you know, see clients and you can’t track.

(08:06):

What you can be doing is advertising the types of services you have. You can be explaining to people at the moment, you know, what happens in different treatments, what the benefits are of different ways, how to look after their selves and their skin or whatever it is that you do at home when they’re not able to see you. By offering value by key, you’re keeping top of mind, you’re keeping in front of them, you’re keeping an audience around your business. You then have a potential audience that you can tap into when the restrictions are lifted. So you want to keep building out your pipeline, your top of funnel activity to make more people aware of you and then your opportunity as well to be advertising to other people, um, within the opportunity arises. So that’s what I suggest you guys. If you’re not in a position right now where you can advertise, where you can really, really, um, you know, you know, sell and trade and, and take advantage of, you know, that the cheap ad placements, you can still be preparing your business for the bounceback and you can be getting ready so that when the doors do open, the restrictions are lifted, that you’ve got a rich audience that you can be retargeting and tapping into and that you spent this time wisely nurturing and you know, getting them ready to the point of purchase.

(09:22):

So it’s also an opportunity, guys, as well to be getting on top of your content calendars. To be getting on top of your opportunities to be getting on top of your content filming so that when, as I say, when things do start to return to normal, you can take your focus back on all the sales activities and things that you need to do there and know that you’ve got a good stock and supply of a couple months worth of content filmed and ready and scheduled and social media posts done and edited and in the systems ready to go that you don’t have to spend your focus on that stuff. You’re just there in the selling opportunity and actually making the most of that. So it is a tough and challenging time for businesses. It is a golden opportunity for certain areas. It’s also an opportunity for some businesses to pivot their strategies or to add digital or virtual services to their business.

(10:11):

And for some of us it is just a case of, you know, sitting tight, making sure we stay connected with our customers, and then getting ready for the day that we all can go back outside again and see our friends and hug people and give high fives and handshakes. Guys, I hope that helps. If you do have any questions around how to tackle this situation or if you want some help with your strategy, please feel free to reach out to me. Send me a DM, send me a PM, send me an email, contact us through the website flow, social.com Donahue, stay safe. Wash your hands, hug your kids, and I’ll talk to you next time. Yeah.

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