Mimic Social: Simulation Notes
Buhi's spending on social media, when compared to other marketing efforts, has grown from its original 12% to around _____________.
25%
_______________ prospects lead to more awareness, which leads to more engaged prospects.
Engaged
February, followed by May, and then December are peak social media months. They have 15,303 followers between the ages 30-60 that are 95% male and 5% female, and the ideal number of posts per day is 1.
TWO Costs associated with Social Media Marketing:
1) PRODUCTION BUDGET: Buhi relies on high-quality photography to engage and attract its social media audience across all platforms. It dedicates a large portion of money to positioning its brand and products as aesthetically pleasing. 2) PROMOTION BUDGET: The annual amount of budget spent promoting content on different platforms has varied. Buhi has seen good results and engagements from platforms like Facebook and Instagram, but it is still testing other platforms for opportunities to increase followers, reach, branding and conversions (i.e., sales).
Goals
1) Spend Your Entire Budget!!! 2) Spend Your Budget Wisely: It is commonly recommended to spend 25% of your budget on content and 75% on promotion. Spend the money on the content, advertising and platforms that will help you reach the rest of your goals. Promoted posts have a maximum budget that you choose to allocate. The simulation will promote these posts until the budget is exhausted. Your reports are based on what has been spent, not allocated. You only pay for the Cost-per-Click of each post, even though you may have allocated more. 3) Grow Your Brand Awareness: The number of followers, fans, etc. across each network needs to grow significantly. The boss will give you specific areas to focus on but you should consistently work on increasing your follower count. This will allow you to reach more people. 4) Increase Engagement: If you grow your reach, engagements will follow (likes, comments, shares etc.), but only if the content you write and share is engaging. Just like building brand awareness, the boss may have you focus on different areas each week but he always wants to see the number of engagements going up. 5) Increase Sales: All of the above goals are focused on branding. The goals for your social media marketing campaign are, first and foremost, about building the Buhi brand. The following goal is about return on investment. The boss wants to see a 10% increase in annual sales over the previous year. How can you drive more conversions with the content you post? How many times can you push product to your followers before they start unsubscribing? You'll have to find the right mix, just be certain that you drive sales. 7) Outperform Your Peers: In the end, you have to outperform the peers in your class. They have been given the same scenario and your goal will be to beat them in each of the above categories. The ranking you see in the simulation is based on revenue because this is what keeps Buhi in business but you should focus on doing well in all of the above areas, not revenue alone.
Primary Market
90% of all Buhi customers fall into the age category of 19-32. SEVEN types of segments: 1) Back-To-School Molly - "Molly is going back to school and needs a unique look for the fall." 20% of the market. Age ranges of 18-26, Female customer base with income between $12-$20k. 2) City Hopper Sue - "Sue is planning a vacation to Thailand and needs fashionable but practical travel bags for her trip." 12% of the market, age ranges of 18-35, Female customer base with income between $28-$40k. 3) Up-and-Comer Raj - Raj is starting his new job at a law firm and is looking for something professional and stylish for his laptop and documents." 16% of the market, age ranges of 18-26, Male customer base with income between $30-$45k. 4) Energetic Jill - "Jill has started teaching a Zumba class and needs something that looks good to carry her gear in." 10% of market share, age ranges between 18-27, Female customer base with income between $13-$23k. 5) Seaside Sally - "Sally needs a new bag for the beach." 8% of the market, age ranges of 18-26, Female customer base with income between $20-$30k. 6) Daypacker Tom - "Tom is looking for a multi-purpose bag for his next trip to his friend's cabin." 29% market share, age range of 18-26, Male customer base with income between $22-$28k. . 7) Hipster Mommy Kami - "Kami's twin daughters are starting junior high and she wants some sturdy but trendy bags for school." 5% market share, age range of 32-45, Female customer base with income between $35-$70k.
To post the SAME content on multiple platforms....
After selecting the budget for a post on one platform and before clicking "schedule", simply click the icon for another platform and select the budget and targeting for that platform.
August, followed by December, are the peak social media months. They have 556,766 page likes, by those who are 18-50 years old that are 46% male and 54% female, and the ideal number of posts per day is 1-2.
August, followed by a VERY CLOSE December, are the peak social media months. They have 50,251 followers between the ages of 14-25 that are 53% male and 47% female, and the ideal number of posts per day is 15-46.
Company Information
Buhi Supply Co. An e-commerce and retail bag supplier that specializes in backpack, purse, wallet, satchel and duffel products. Business GOALS are to find bags that resonate with design-conscious audience, manufacture them at affordable costs, and sell them for a profit at competitive prices. Buhi aims to design functional bags that evoke nostalgia, bags with enough personality for even the choosiest of Millennials. **This goal has been a driving factor that has helped Buhi's sales grow significantly since it was founded in 2009.
Products
Buhi prides itself on creating elegant, durable and affordable bags; available in a variety of colors. MANTRA: "Create a timeless product with fine regard for detail". PRICE RANGES: $35-$75 ie; Backpacks $40, Duffel Bags $20, Messenger Bags $42, Pouches $39, Totes $20, & travel bags $100.
What is Social Media Marketing all about?
Connecting with your audience, joining the customer conversation, and sharing content that keeps your audience engaged.
__________________ can engage with you in person, on your website or through social media.
Customers
Reactions
Includes likes, loves or other reaction buttons clicked on your posts.
Buhi considers itself to be a __________________ brand/company.
Lifestyle
No data regarding peak social media months, however, they have 20,241 followers between the ages of 18-64 that are 24% male and 76% female, and the ideal number of posts per day is 11-27.
If none of your posts are about selling, you'll miss an opportunity to give your audience the products they want and boost _________________ through the sales that naturally follow.
Revenue
ROUND 1: Social Media Metrics
Scenario: Your boss comes into your office and says, "I'm so excited for you to get started today! I know that you have a lot on your plate and it might be hard to know where to focus your energy. Go check out this article (linked below) on my friend's blog to see what metrics we need to monitor. We are really trying to build awareness and get more people to know about our company so let's focus on that this week." It looks like you'll need to read that blog post and see what you need to do to build awareness for your brand. Now go make your boss happy and make Buhi money! Notes from Blog "What Metrics Matter?" Success with social media comes down to setting clear objectives and creating a strategy to achieve those objectives. Social Media Marketing Objectives for a traditional marketing funnel is awareness, engagement, and sales. AWARENESS can be measured by followers, impressions, and mentions. ENGAGEMENT can be measured by comments, reactions, shares, and clicks. SALES can be measured by conversions, purchases, and revenue.
For Hootsuite, you should generate AT LEAST ___________ posts per week (one per day) on each platform before you run the simulation.
Seven
Buhi relies substantially on its __________ ____________ efforts to build the brand, and equally important, sell products.
Social Media
Our Role:
Social Media Manager GOAL: To help Buhi reach this goal by increasing the number of visitors on its website.
Life Style Brand
Tend to see much higher returns from social media efforts, therefore, they spend a larger percentage of their ad dollars on social media than other companies.
Revenue
The amount of money that you receive for your products or services, not including sales tax.
Mentions
The number of comments and posts made by other people that mention your business.
Comments
The number of comments made on your posts.
Followers
The number of people who have liked your page, subscribed to your channel, or otherwise chosen to get updates from you.
Conversions
The number of times a customer completes a desired action on your site.
Purchase
The number of times a customer gives you money for your product.
Shares
The number of times people have shared your post with others.
Clicks
The number of times someone has clicked on your post.
Impressions
The number of views your content has received.
Content Planning
There are several tools out there to simplify your job as a social media marketing manager. The two most popular are HOOTSUITE and BUFFER. STEPS TO PLANNING CONTENT: 1) Select content to post. 2) Write a clever and engaging caption. 3) Select which channels you will post your content to. 4) Select your targeting inputs. 5) Decide if you will promote the post. 6) Decide how much money to spend promoting the post. 7) Schedule your post* 8) Run the simulation to publish your posts.
YouTube
They have 1,105 subscribers between the ages of 10-28 that are 62% male and 38% female, and the ideal number of posts per day is 1-3.
As a social media marketing manager, your first step in achieving social media success is to familiarize yourself with the company's ________________________.
background
Gross Revenue
$15M
2017 Year End Goal
$17M in gross revenue, as well as, 0.30% marketshare.
Budget
$240,000 is allocated towards social media marketing efforts per year. Weekly Budget = $5,000
Marketshare
0.25% of all retail bag sales.
December, followed by August, are the peak social media months. They have 421,233 followers between the ages 18-29 that are 43% male and 57% female, and the ideal number of posts per day is 2-3.