@Uduak wrote:
Some days back, I happened to meet with someone who had a lot of funds invested in an online travel agency. Actually we met because he wanted to give his travel agency clients international travel recharge form quickairtime.com just like wakanow.com deals international travel SIM. So while discussing, he told me about how much challenge he had in building the company and how his Social media consultant just resigned. As usual, my first question to him was If the staff were well paid. He said he was paying them 1.5million naira every month and they came experienced from Konga so they were “very sound”.
So I was thinking of N1.5million naira every month for social media campaign and I decided to edit and share this presentation I made for my Team and hopefully some other bosses will think differently before pushing out funds for advertising.
Below is typical advertising screenshot from facebook.
As you can see, $21 delivers 705page likes. So with 1.5million naira every month, you can earn 251,000likes(Unique) customers every month.
*Note that you will get closer to 340,000 because the social media interactive world takes the cubic curve. During my research, we ran a facebook ad where $2330.62 produced 113,840 likes. Note that I am not even looking at people reached because that is not traceable.
Base case is that NGN1.5million can push 250,000 Facebook Page Likes.YOUTUBE
As you can see $1,797.06 delivers 125,439video views.
So If I spent NGN1.5 million, I would get 550,000youtube views.
*THOSE MUSIC VIDEOS THAT GET TO 1MILLION VERY QUICK? YES THEY PUT MONEY ON IT
Note that youtube has a frequency interval combination which delivers to only unique viewers and will ensure that nobody sees your video more than once. I am not a big fan of youtube because it is not traceable but I will still leave it on quote as Data of 550,000 views for NGN1.5million. (70view for every $1)
Twitter is the most overrated and most expensive advertising platform in the world. First of all below is the cost of advertising.
As you can see; $47.48 gives you 23followers on twitter. So If you are a great social media evangelist, you can get 3,833followers with 1.5million naira. At least that is traceable regardless of the span of any budget.
However, in twitter I want to share my “Handshake Experiment”. This is a soiled solution for twitter and I am still building the script for it.
On the streets, 90% of the people will stretch their hand out If you stretch yours out. On twitter my research shows 35%. This implies that for every 100people you follow, 35will follow back. To test this, you should try and follow 2000people and wait 4days.
Below is a period under which we did the handshake experiment for 1week.
As you can see, only 4 tweets and 1780followers gained in the 28days under review by just following and unfollowing 2000people for 7 days.
So my strategy, I would hire an intern for NGN50,000/month and his only job would be to follow 2000people every day unfollow all of them 36hrs later and follow a new 2000. (Twitter limit is 2000followings per account. This would average 200-300twitter followers/day and 30months later, I would be looking at 180,000-270,000 twitter followers.
SUMMARY
The best proposition of facebook, youtube, and twitter is the 30month twitter. That delivers 270,000 followers after 30months. Because after that, the twitter page would take home about 200new followers/day naturally. But consider that the intern would have had to click the follow button about 1.8million times, that is very ineffective.
I would love to talk about how shareapps.net was built to fix the cost element of this but that would be better on a whole new article, because from a cost perspective, these social media platforms are pushing NGN6-7/view_result.
So we still haven’t got social media advertising efficiency but that is still not a good justification for blowing 1.5million/month on an agenc of a tagged position.
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