Majority of Brands trust these platforms with having full control and ownership of the data regarding their community engagement for FREE. We don’t believe many Brands understand the power that they are lending away to these platforms, so let us break it down for you. You are Brand X, you’re inviting your customers to follow your social media account on x.com or you’re going to x.com to find customers, most of your engagement with your community is conducted on x.com. In other words, Brand X is providing x.com the permission to measure, store, and SELL their data for FREE. Now, Brand X does not have access to their community data unless they pay via social media advertising. Social media advertising specifically provides brands with limited access to a Brands social media data & analytics. The result of brands engaging with customers full-time on x.com leads to equity erosion because:
- Their customers are being sold to the highest bidder on public social media platforms. Public social media is a cesspool where brands are forced to buy social media ads to remain relevant and grow their customer base.
- Decrease of Lifetime Value (LTV) for a brand because they are spending most of their time engaging with their customers on social media platforms.
- Brands are bringing in more business for these platforms and their competitors because the platforms own & sell off their data while their competitors have the opportunity to sell them their product via social media advertising.
- Social media isn’t built for Brands to inclusively engage with their customers.
The longer your customers stay on social media it increases the chances of them buying a product from your competitors. A brand’s social media data and analytics is essential for their growth. With a rise in social media advertising cost and Customer Acquisition cost, Brands are continuously making a way to allocate funding to cover their social media advertising cost for the year to remain relevant. If this is your brand, you are hustling backwards! For free, social media provides you access to simple raw data points such as comments, shares, likes, views, and mentions. These are basically vanity metrics, it looks good on paper however it will not get you to your goal of acquiring revenue. Without having access to the buyer journey, brands don’t have the data points to understand how they should make the next move or where to invest their resources.
How Brands Can Hustle the Right Way:
Brands should be allocating funding into a solution that allows them to inclusively engage with their community inside their platform. Through this approach they are able to engage with their community in private and have full ownership of this engagement. With this approach Brands have an understanding of what their customers think about their products and services. This provides Brands the ability to hustle on social media the right way by leveraging social media as a feed to convert your prospect customers to customers and retain them inside your inclusive community that you own and have control of!
For more information to learn how AllPeep can help your brand integrate your social network experience inside your platform, please visit www.AllPeep.com