Post by mdsaikwat03 on Feb 18, 2024 11:19:49 GMT
One constant here, according to Elfend: you should spend about 4X as much on attracting new customers as you do on maintaining old ones. “The biggest thing would probably be having your accounts set up with the 80/20 rule,” she said. That means... 80% of your paid social budget should go towards prospecting for brand new customers 20% of your paid social budget should go towards reengaging and retargeting customers who've already heard of you Why so much on prospecting for brand new customers? “If you can capture people in that first interaction, that's incredible,” Elfend said. “That's the goal." "If you can capture people in that first interaction, that's incredible.
That's the goal." Some people need a few more latestdatabase.com touches — but they’re likely less enthusiastic, and they may have already decided against buying your product. You don’t want to over-invest in them. There’s no one optimal budget allocation. In special situations, experts will even choose to break the 80/20 rule, Elfend noted. “When Black Friday comes, you want your remarketing audience to be as big as possible,” she said. “You wouldn't be 80/20 anymore — you would probably be more 60/40.” 2. Data analysis. Because social media advertising comes with so much performance data that’s increasingly rooted in sampling and modeling, analytical skills are a must for paid social media marketers.
If you hire someone who doesn’t know how to use data for ad creative optimization, and broader social media strategy optimization, they'll burn money. “You have to be able to look at data, analyze data, take findings from data and then apply it to future campaigns,” Elfend said. To access relevant data on their marketing campaigns, your expert needs to know their way around Google Analytics, their paid social platforms of choice — and good old Excel, Reid noted. “I would say the number one skill I learned from the very beginning was understanding Excel and the nature of using pivot tables,” she said. “That really teaches you all the metrics and how those metrics are related.
That's the goal." Some people need a few more latestdatabase.com touches — but they’re likely less enthusiastic, and they may have already decided against buying your product. You don’t want to over-invest in them. There’s no one optimal budget allocation. In special situations, experts will even choose to break the 80/20 rule, Elfend noted. “When Black Friday comes, you want your remarketing audience to be as big as possible,” she said. “You wouldn't be 80/20 anymore — you would probably be more 60/40.” 2. Data analysis. Because social media advertising comes with so much performance data that’s increasingly rooted in sampling and modeling, analytical skills are a must for paid social media marketers.
If you hire someone who doesn’t know how to use data for ad creative optimization, and broader social media strategy optimization, they'll burn money. “You have to be able to look at data, analyze data, take findings from data and then apply it to future campaigns,” Elfend said. To access relevant data on their marketing campaigns, your expert needs to know their way around Google Analytics, their paid social platforms of choice — and good old Excel, Reid noted. “I would say the number one skill I learned from the very beginning was understanding Excel and the nature of using pivot tables,” she said. “That really teaches you all the metrics and how those metrics are related.
