The Social Currency Sampler Platter

Episode #002 really kick things off for the Social Currency podcast. Tuck and I provide an overview of multiple topics all aimed at providing you with clear reasons why digital marketing and social media matter. Here’s a sampler platter:

  • Why has video become such a juggernaut in the online space?

  • Does the notion of “earned” attention really exists anymore?

  • The need for paid social media and capitalizing on commerce occurring on platform.

  • The power of retargeting.

  • With the pendulum swinging back to “people-first” content, brands are partnering with social influencers and positioning their executives as brand ambassadors.

Social media has become the fabric through which so much of our lives, businesses and brands are shared. Many are saying it is the new internet. More than ever before, business owners and leaders should understand it and embrace it as a tool to drive your business.

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Building Trust is an Executive's #1 Job.

What do you want to be known for?

  • Generosity.

  • Humor.

  • Business acumen.

  • Success.

  • Innovation.

  • Environmental activism.

This list goes on and on.

The existential question is one many of us have spent some time on but may never fully answer. But as a leader, it is mission critical. In 2019, it’s not enough to be a good “businessman” or to drive profit for the shareholders. Employees, journalists, Wall Street- they all want to know what you stand for.

Edelman releases an annual study called the Trust Barometer. In it, they state that a CEO’s #1 job is building trust. Trust comes from transparency, clear principles, and consistency. There is no more powerful stage than social media for articulating what it is you stand for and building rapport and trust with those that look up to you.

In episode #005, we cover the reasons an executive must be on social media. We don’t think he or she needs to talk about everything or be on every platform, but we focus on where a leader can have the most impact. We also discuss the operations behind making an executive successful on social media. This includes an editorial calendar, training and education, and time management. Focus on what matters and do it well, as they say.

This is a topic we are very passionate about as the role of a leader has shifted since our parents’ generation. No longer untouchable, removed, and stoic. Social media is one of the most fundamental (and underutilized) tools we have to build personality, humanity and trust for leaders and their organizations. Which in turn drives long-term value for the brand, shareholders and employees.

Listen on if you are someone interested in getting started.

Money, money, money, money!

Money. Something many of us do a lot of planning around in the beginning of a new year. I know I do it for my personal life and we often do it as part of our annual planning at work. There are only two primary figures that matter when building a budget: What’s coming in and What’s getting spent. For many businesses, marketing begins as a cost center, falling under the category of what’s going out. Over time, as marketing spend demonstrates correlation with revenue increase or business leads, it transitions to be a fully functioning driver of the business.

Wherever you are, philosophically, with your marketing budget; there are a few key tenants to follow when allocating it and validating its worth.

In this blog post, we discuss the macro trends around digital marketing budgets growing year over year. One clear reason is the vast majority of marketing is trending toward the digital space. Another factor is that paid social media is increasingly a larger part of the spend due to what’s often referred to as the plummeting of “organic” reach. As it becomes harder to reach followers “for free,” inherently businesses feel compelled to increase funding. Nurture the house they’ve built, if you will.

We also discuss the yin and yang of your production budget vs. your distribution budget. Paid media falls under the distribution side but content creation falls under the production column. How can you stretch you production dollars further than you have in the past? It often comes down to planning and repurposing a core asset into many smaller pieces. An approach we refer to as atomization.

Lastly, we share a few ways of measuring success. While not every business lends itself nicely to a clean ROI model for marketing, especially those in early start up phases or in the B2B verticals, there are ways to illustrate effectiveness that can be meaningful to leadership and assist in growing the pie for subsequent years.

If you are interesting in how to better manage your digital marketing budget in 2019, this is the episode for you.

Digital Jargon Decoded! #finally

Jargon sucks.

In fact, some say it is nothing but a covert way to exclude many from understanding things that are very simple. Alas, in every industry, there is vocabulary. Episode #006 kicks off this discussion of Decoding Digital Jargon.

We tackle the digital marketing words that fly around one by one. There are so many, terms it actually took us two episodes (#006 & #007) to cover them. What is the true meaning of an algorithm, what is really meant by the insanely overused word of engagement, and how do I describe a blog to my Dad? We got you. We also dig into the always hot topic of Content Marketing and discuss the many many ways a conversion can be defined. And it’s not always putting something in your Amazon shopping cart.

Rather than Google all of these terms, we hope you’ll have more fun listening to us banter about them, deconstruct their origins (e.g. hashtags) and walk away feeling more confident talking shop with your marketing team.

Take a listen and please let us know if this was helpful. You can email us with your ideas and feedback at info@socialcurrencyshow.com.

Do I Really Need Both Facebook & Instagram?

Everyone listening to this podcast is familiar with Facebook and Instagram. But not everyone is using both, nor is it clear how these two powerhouses differentiate themselves. This episode digs into the topic: Facebook vs. Instagram.

In many ways, Instagram is Facebook’s younger sibling, heavily prioritizing visuals and rooted in mobile culture. It is a simpler, more immersive experience. When we say immersive, that means figuratively (takes up almost your entire smartphone’s screen) AND functionally (you can’t click out to a website save for only a few exceptions). Guess what? We shouldn’t be surprised that Instagram kills Facebook in engagement stats. People want to stay there.

But this doesn’t mean that we abandon Facebook. Facebook still has more options, customization tools and success driving traffic to company websites vs. any other social platform. Facebook is, in many ways, a media platform whereas Instagram still has elements of a social platform. Neither is better or worse, but they are just different.

Where we’re seeing similarities between Facebook and Instagram is their priority on authenticity. The individual over the brand. The content that gets engagement over the post that leverages paid for pure reach. The words authenticity and engagement are highly overused but the reality is that they are perceived as “triggers” for both Instagram and Facebook and they directly impact which content will be seen by followers.

So much more on this topic. If you want to hear our thoughts on stories, pages, influencers and more- listen to the full episode above. Send us an email and let us know your opinion on this topic or new areas you’d like us to explore in 2019 at info@socialcurrencyshow.com.

Thanks for listening!