Having a comprehensive strategy in digital marketing is essential for every brand success.
Working with an engaged customer base, which not only consider itself as a brand follower but as a part of brand success is now key to a successful marketing program.
Increasingly, people pay attention to a brand values and role in the society, and often, purchase choices lay on the perception a brand gives to the public.
In this environment, creating a wide base of people who support a brand is essential to engage and connect with the public and drive results.
Customers are the true fan of your brands and often benefit a brand utilizing the most effective marketing way: word of mouth.
The majority of the people is actually influenced in their purchasing decisions by suggestions from family and friends rather than from advertisement or other tools.
One effective tool that has been used in recent times are Influencer.
Influencers help the brands to market their products to engaged audience and specific niches, and have the power to be perceived more authentic and trustworthy than brand produced ads.
Influencer marketing nowadays stands as one of the most effective and adopted marketing tool, with a huge monetary expenditure assessed at $13 billion a year in the US alone (2018, Statista).
However, even if Influencer marketing is a good way to engage with your public, it still misses uninterested nature of advises given by the personal inner circles and it is becoming really competitive.
Macro influencers (people with up to 500K followers), above all, are now facing some difficulties in sponsoring products and keep their audience interested, resulting in lower than usual engagement rates in addition to high costs.
Data show how currently macro influencer average ER is around 2%, while an average person profile (people with 500 to 2000 followers) can stand at a 10% to 30% ER.
Macro influencer are still able to cover a large number of people with their content but given the large nature of their follower base they might fail to engage their audience on a particular product or niche. Unlike them, micro influencers and normal people profiles have less difficulties in keeping their audience engaged, being the audience usually composed of real friends or connections.
Taking advantage of this kind of profiles for the purposes of advertising might lead to better conversion rates on a lower budget.
The use of an automated marketing platform such as SnapCoin, can help drastically any brand in easily build a large base of engaged customers.
The nature of the platform gives the user the choice to undertake campaign of the brands they like more, while gives the brands the tools to target the right audience.
The users on SnapCoin get asked to perform simple brand campaign based on social media which always lead to an action, which can be to create a video or to buy a product and review it, or simply to spend some time on a website registering to some program or newsletter. User are then rewarded automatically through our digital coin.
The brands are able to effectively target their preferred audience based on several criteria.
Brands get from our user sales, contents and highly engaging impression on social media.
The service is based on commission on the rewards distributed to users and has no recurring or subscription fees.
For example, in the case the aim of the campaign is to sell a product and get UGC contents of it, the brands would doble benefit from the sale and from the advertisement generated through the UGC, which is the closer as possible to the friend and family recommendation.
While in the case the aim of the campaign is to let the audience subscribe to a newsletter or to a web service, the brands will benefit from the time spent on the website by the potential new customer and from a new lead.
The purpose of every marketing campaign is the generation of lead and metrics. Digital marketing KPI’s are now the most discussed theme by every marketer and the effectiveness of a marketing campaign is measured on the evidence these metrics reports.
The actual digital marketing campaign are sold by the greater amount by Facebook, which given its community size is able to sell impressions to the advertisers.
Impressions are currently the main objective when buying a FB campaign and the primary KPIs.
Cost per mille (CPM) is a common KPIs and calculate the cost of thousand impression.
In Q3 2020 the median CPM on Facebook was €4,40.
The number gets lower on higher based on many criteria as the public dimension, action required and target audience. The more those criteria are specific, the more the CPM is expected to be.
On SnapCoin a brand can decide in advance the cost of impressions, setting the value to distribute to the users.
The impressions on SnapCoin are generated through ‘user generated contents’ and their follower base. On the platform, an advertiser can decide to give away 2€ worth of coins to every user with a follower base of at least 600 followers if he posts an original branded content.
In this case, the CPM would be similar to what is usually paid through sponsored Facebook Ads, but the adv will benefit from being an original content, which as we saw earlier, has better ER, statistically around 5 times better.
In conclusion, SnapCoin allows advertiser to spend differently their marketing budget, leveraging original user contents to generate impressions and lead, which might result in a better budget allocation given the higher expected conversion rates.