importance of social media

Key Takeaways From Social Media Week London 2019

Launchmetrics Content Team

Last week, we attended Social Media Week London at the Queen Elizabeth II Centre to listen to speakers from some of the industry's top brands such as TikTok, Google and Twitter, as they explored the state and importance of social media marketing. The conference also featured intimate workshops led by industry experts to help attendees learn more in-depth about best practices and tricks when it came to paid social, creating content that converts and story-selling on Instagram. If you weren't able to make it, we've rounded up the key takeaways from the event, that help provide a better understanding of what you should be doing as a brand to improve your social media practices.

Key Takeaways From Social Media Week London 2019

Create conversational marketing

An overarching theme during Social Media Week was the changing digital landscape, and how this alters where and how we connect with consumers as brands. Unlike traditional 'sales pitches', selling on social media is different, because it allows brands to become part of a public, natural dialogue online with both their consumers and prospects. Although most recognize this difference in platform and tone of voice, a lot of brands still have a strong opinion to remain professional on these platforms, and heavily implement message control regulations.

However, Grad Con, CMO of Sprinklr, noted that if you "connect with people where they are you get this really interesting connection", citing their ability to win a million-dollar deal by connecting with the CMO of a fast-food industry giant via a playful exchange on Twitter, after traditional tactics had failed. Being unafraid of switching up message control and going slightly more creative with social media marketing tactics can in some instances create large payoffs, so this is something brands should consider.

Use data to predict and monitor social media trends

Using data to improve and implement better social media practices is something that has consistently increased as social media has been solidified as an essential marketing asset. Most of the speakers at Social Media Week London touched on the need for data insights and analytics at least once, which provided some clue into where everyone is looking for the future.

Software solutions that can be paired with brand strategies are important for companies in the industry who want to stay ahead of their competitors. Platforms like Insights provide a deeper look into which influencers and celebrities are generating the most media value in any given time period or campaign period, which brand competitors are performing the best in terms of their strategies and efficiency, and can also provide a guide as to where brands should (or shouldn't) be investing their budget on social media. The importance of analytical platforms for social media has meant that brands have completely overhauled their marketing strategies and investments in recent years in order to keep up.

Pay attention to new platforms

One of the headline sponsors at the event was the Chinese-owned phenomenon, TikTok, which has seen increased popularity by Generation Z users in recent years. The platform has since been reported to be worth $75 billion and hosts over 500 million active monthly users. Inam Mahmood, European Director of Partnerships at TikTok, explained in his fireside chat session, that TikTok was designed for creators to "create" and not just "influence" describing it as a creative, lighthearted and viral platform.

Mahmood also spoke with Rachel Waller, Global VP of Digital Marketing for Burberry, TikTok creator, Holly H, and Toyin Mustapha, Music Content & Artist Partnerships Manager of TikTok. Rachel explained the benefits of the platform for connecting brands in an authentic way with newer audiences and consumers of the future, as a method of building brand affinity before they start shopping. The importance of growing social media apps like TikTok is continuously growing, as brands are investing more and more in alternative channels and strategies, to stay ahead of the curve.

First-party data and will shape the future of social media advertising

First-Party Data has proved indispensable in social media advertising, with companies putting a large part of their efforts into obtaining it. However, research suggests that on average, marketers feel they have only tapped into 47% of first-party data's potential. First-party data is essential when it comes to reaching consumers and answering their needs before they realize they have them, as it can drive personalized campaigns that drive long-term customer loyalty. Becky Owen, Digital Partnerships and Branded Entertainment at Facebook, Caspar Lee, Co-Founder of Influencer and Margravine Management and Ben Jeffries, Co-Founder and CEO of Influencer, discussed the best tips and trips for combining traditional advertising and user-generated content to get the most out of first-party data.

Do you want to use data to improve your social media strategy and efficiency? 

importance of social media

Images courtesy of Social Media Week.

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