31 March 2011 5 Comments

Social media investment:How to make informed decision

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

Social media offers individuals, brands and marketer technology platform where group of people working together for a common goal can interact. When we examine social media as a platform it allows people and brand to interact online within different avenues, meeting points among many other names it may assume.How to make informed decision in social media investment

Despite late adoption of the social media in Nigeria and Africa (compare to western world),  the rise of the use of Smartphones is helping social media to grow as consumers turn to the social Web for connection, opinion exchange and sharing.

Because of this, many Nigeria and Africa brands are now making frantic effort with regards to how best to connect with their consumers online. While few are getting it right, many have fallen into the hands of quacks that helped them to waste their resources. This reason accounts for why many laggards do not want to touch the media with a long rope. They feel it may not bring expected returns.

This piece is therefore for those who understand the need to get involved but are either sceptical about it or do not know what to do. It is on record that internet access is becoming commonplace in Nigeria as its price is daily crashing through the use of Smartphones among other devices. The numbers of those who daily use the social media for enquiries, connection, social marketing, opinion sharing as well as propaganda, electioneering campaigns are also in the increasing.

As good as this may seem, a recent annual report by Deloitte will help in planning investment on this platform.

Some of focal points of this report show:

-71% of Americans rate watching TV on any device among their favourite media activities.

-Meanwhile, the use of smartphones and social networking continues to increase as consumers turn to the social Web to help them shop.

-TV viewing varies by generation, with older adults the most enthusiastic, according to 

Deloitte’s State of the Media Democracy study:

– Boomers (now age 45-66) and Matures (now age 64-75) prefer TV at higher levels than the general population, 81% and 76%, respectively.

-Younger generations such as Trailing Millennials (now age 14-21) and Leading Millennials (now age 22-27) rely less on TV, 59% and 62%, respectively.

 The report continued:

The social Web is becoming a more powerful factor in shaping consumers’ purchasing decisions:

  • 59% of consumers (82% of Leading Millennials) say online consumer reviews and ratings influence their buying decisions more than any type of online advertising.
  • 58% of consumers have decided not to buy a product based on an online review.
  • 54% have decided to make a purchase based on such a review (both professional as well as consumer-based reviews and recommendations).

 If the above is true for Americans (who are early adopter) what lessons cue should Nigeria and Africa social marketing players take:

 Understand the audience: There is need to check out audience attitude to social marketing strategy you intend to use. If this is not given enough consideration, it may amount to investment wastages.

 People still watch Television: We should never assume people do not watch Television again. People still stay glued to their televisions- especially to most TV reality shows, international Football tournaments and some TV soaps. The clause here is that they do not trust adverts. But if you want brand exposure and brand recollection, awareness, you may buy advert during those special moment.

 Listening, dialogue and brand engagement: If the motive of a brand is to do any of these, investment in social marketing you gets the larger sum of the budget. What is your opinion? Share your views at the comment section

5 Responses to “Social media investment:How to make informed decision”

  1. freelance graphic design jobs 3 April 2011 at 5:23 am #

    For marketers and advertisers, therefore, the right behavior within the social medium is critical. Marketers need to understand their target audience and its social medium tolerances. That means the type of campaign chosen, a balance among branding, advertising messages and virtual and real events and causes, requires multiple strategies.

  2. freelance translation jobs 4 April 2011 at 2:02 am #

    An effective business strategy to help you with your business and do social media marketing to promote your products and sales and also to get more customer and clients.

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