Social media is a great way to gain momentum, but paying for amplification across so many social networks can be complicated, expensive—and pointless, if your strategy isn’t sound. Enter digital guru Rachel Mack, the founder and CEO of Digital Matter, a digital marketing consultancy that empowers brands to drive sustainable growth through performance marketing. In our “Retail 101” package in the Winter issue of BOH, we caught up with her to get the scoop on how to harness social media in a meaningful way.
What’s the biggest mistake brands are making on social media right now? If I get one more generic retargeting ad from a multi-brand website, I’m going to throw my laptop out the window. If I’ve searched for six Klismos chairs on a site, then why am I being served a retargeting ad featuring generic sconces with generic copy? You should be serving me ads containing the products that I looked at, with copy that speaks to those items being limited edition or one of a kind. Maybe also serve me ads for Regency chairs, and see what happens. A lot of established brands still haven’t done this type of segmentation.
What kind of returns can a brand reasonably expect to see through performance marketing? Our clients often ask, ‘How much money can you make me?’ (The answer: A lot, if you listen.) Once we’ve realized a material return at scale, we utilize platforms like Facebook and Instagram as always-on focus groups. These platforms can be used to validate partnerships, explore the demand for adjacent business lines, and to forecast better, all while making a material return on ad spend. Ultimately, every dollar spent should answer a question or validate an assumption.
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