Reflection 2 Rounds 4-9

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Feb 20, 2024

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Reflection 2 Rounds 4-9 John Heacock MK-375 Social Media Marketing  Which audiences did you choose to target? Please describe each audience in detail including age range, interests, etc. The audience I have been using is labeled “Target Market for All Genders”. I picked the age group of 18-40. I also picked both genders, not singling one out. That is because in today’s society, men and women do a lot of the same activities. I chose the interest of professionalism.  Why did you choose each of these audiences to target? I chose this audience because most people that buy the product are people that are at the age that are able to hike, and do other adventurous activities. There also people in this age group that choose bags because they are in school and need a backpack to carry their school supplies in. The last reason I chose this age group is because parents that have kids in school have to buy their children backpacks for their school. Most parents that are still supporting their children are in the age group I have chosen. I chose the interest of professionalism because of the type of ads I create include a professional style type of media. There are pictures and videos of people in the classroom and big cities using the Buhi bags.  Which audience performed best for you overall? My audience of “Target Market for All Genders”, has been performing well. My revenue has continued to rise throughout all of my weeks. All of the categories that stem from social media posts have risen every week, with not one week of falling to below what they were in previous weeks.  Which platform gave the overall best performance for each audience? Why? The platform that has been producing the best for me has been TikTok. This is because, in the age group I have chosen, there are a lot of people who use the app. In the beginning, (weeks 1-4), Twitter was my biggest platform. As weeks went on however, I started to post more on the other accounts, as well as posting on Twitter. Since then, TikTok has become my main source of attention.

 Which type of content performed best for each audience segment? Why do you think this content was best for this audience? The type of content that has performed best for me is nature videos. I mainly post these on TikTok and YouTube. I post these videos on these platforms because they are made for videos. In my experience with talking to different people who post sponsored ads, videos are better than pictures for engagement. In the real world, videos produce better revenue because people get to see the product actually getting used, instead of a picture where it just shows the product.  Which type of content performed worst for each audience segment? Why do you think this content was worse for this audience? The type of content that performed worst for me were ads on Pinterest. I believe this is because, in my target audience, less people use this platform. I need to create a new audience that specifically targets people who use this platform. I will work on that as I continue to go through the simulation.  How did you use the ads in this round? In round 4, I used mostly professional type ads. The platform I did the best in was Twitter. I posted pictures of people in business and school settings. I mainly focused on Twitter in this round. I realized after round 4 that the more you post on a specific platform, the better it does. After this round, I started to equal out the posts on each platform, so that the other accounts would be able to catch up with Twitter. Overall, my ads performed very well, I made significant jumps in each category of the statistics. Revenue made a very big jump as well. My most successful ad was a picture I posted on Twitter, which produced $17,800 in total revenue. This is the screenshot of the statistics of the ad.

I believe this ad was the most successful because it cost a lot more than the other ads. In the simulation, I have noticed that the more expensive the ad is, the better it does.  Were you most successful overall in generating awareness, consideration, or conversions? Why do you think this was? I was most successful in producing awareness. I believe this was because it was still early in the simulation. The longer the simulation has gone on, my conversions and consideration have grown.  What was your average CPC on each platform? I found my CPC, (cost per click), by adding up my costs and clicks, and dividing costs by clicks. My average CPC on Facebook was $0.40. My average CPC on Twitter was $0.29. My average CPC on Instagram was $0.08. My average CPC on Pinterest was $0.16. My average CPC on YouTube was $0.10. Lastly, my average CPC on TikTok was $0.24.  Why was the cost-per-click on some posts higher than others?

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The reason I found that effected to CPC the most was the platform I was posting the ad on. On certain platforms, if you want to post a paid ad, it is going to cost more than other platforms. For example, on TikTok the paid ads cost a lot more than on Instagram. The most I spent on an ad on Instagram was $95, while the highest I spent on a paid ad on TikTok was $3,000. However, because I spent more on TikTok, that was the platform I got the most clicks on by far.  Does allocating more of your budget toward a post make it perform better for every post? Why do you think this is or is not the case? Spending more money on an ad significantly helps it perform better than ads that are not paid for. For example, on my TikTok ad I spent $3,000 on, I received 10,354 clicks. On another ad on TikTok that I did not pay for, I only received 361 clicks. I believe this is because of the quality of the ad. If you pay more for an ad, then the ad will be of higher quality, therefore it will receive more interest than an ad you do not pay for.  How much revenue (total) did you earn in rounds 4 - 6? In round 4 I earned $54,800. In round 5 I earned $135,120. Lastly, in round 6, I earned $214,720. In total, through rounds 4-6, my social media posts earned $404,640 for Buhi.  What were the 3 main ads that helped you achieve that revenue? Why do you think these posts were so successful in driving revenue? My three best ads throughout rounds 4-6 were on TikTok and Twitter. My top two ads were on TikTok, with the third best being on Twitter. These posts were more successful because they were also the ones’ I spent the most money on. I spent $3,000 and $2,000 on my top two ads from TikTok. My third best ad on Twitter I spent $350. It has been a pattern that the more I spend on ads, the better they do in terms of every statistical aspect on the simulation.  Do you think there are instances where it is better not to target a specific audience (or to target multiple audiences)? Why or why not? I do believe it is important to always target an audience, but it does not always have to be specific depending on various factors. For example, if it is Christmas time, you may expand you age group because of grandparents wanting to get presents for their kids and grandkids. So, although you still need to target an audience, the audience can be broader in certain situations.

 In your own words , describe the difference between micro, macro, and mega influencers. You should include pros and cons. Micro influencers tend to have anywhere between 10,000 – 50,000 followers on their social media platforms. They also are the cheapest influencer to hire, with an average cost of $400 - $1000. The cheaper aspect of a micro influencer is a pro, but the con is that you do not reach as large of number of people compared to the other two types of influencers. Macro influencers average around 500,000 – 1,000,000 followers. They cost a good bit more than micro influencers, with an average cost of $1,000 - $3,000. They cost more than a micro influencer, which may steer some companies away from using them, but they also have a lot more followers than a micro influencer, so that helps more people see your product. Mega influencers have the largest following out of the three types. They have over 1,000,000 followers on their social media pages. They also cost the most, with an average of $2,000 - $5,000. They cost the most out of any social media influencer. However, you can reach a very large audience which gets your product out to a very large number of people. I believe that as your company grows, you should start using more expensive influencers. It makes sense to move up in levels of influencers as your company grows and gets bigger.  Which influencers did you end up using in each round? Describe your negotiation processes. Did you end up with the influencers that you initially wanted to use? Why or why not? In round 7, I chose 2 influencers. Missy Meegan is a macro influencer who costs $2,500 per post. The other influencer I chose was Jerry Gee. He is also a macro influencer who costs $2,500 per post. In round 8, I also chose 2 influencers, but different ones then I chose in round 7. This time, I chose one mega influencer and one micro influencer. The mega influencer was called Kathy Berry who cost $4,000 per post. The micro influencer was a group called World Travelers who cost $1,000 per post. In round 9, I chose two influencers. I chose the same group World Travelers and paid $1,000 per post. This time, however, I scheduled them for two posts which cost me a total of $2,000. I chose a new macro influencer named Ryan Ball who cost $2,500 per post. In the simulation, it gives you a rough estimate for how much each type of influencer cost. I started out with the lowest number you could offer, and every time they requested more money. I noticed after a couple rounds that you have to offer them about 80% of the max cost. This percentage worked consistently with every influencer I talked to. Once I figured this out, I ended up with every influencer that I wanted to use.  For rounds 7-9, on which platform did your influencer(s) have the greatest impact on total impressions? In round 7, my influencers dominated on Twitter compared to any other platform. In round 8, Twitter also dominated, even with two new influencers. Lastly, in round 9, Twitter once again was the most successful in terms of impressions.

 For rounds 7-9, on which platform did your influencer(s) have the greatest impact on engagement? In round 7, Twitter was still the most impactful platform. In round 8, Twitter was the leader in terms of engagement. In round 9, nothing changed. Twitter was still the most dominant.  For rounds 7-9, on which platform did your influencer(s) have the greatest impact on revenue? In rounds 7-9, in every round, Twitter brought me the most revenue out of every platform. Twitter was the most impactful platform that I had in all of my statistical categories in every single round that involved social media influencers.  What is the total revenue generated from the influencer campaign? The total revenue generated from my influencers in round 7 was $12,020. In round 8, it was $7,093. In round 9, the total revenue generated was $17,261. In total, through all rounds, the total revenue from my influencers was $36,374.  Which influencer type did you find to work best for Buhi Supply and why? The influencer type that worked the best for Buhi was macro influencers. This was primarily because this type of influencer is what I hired the most. Based on my budget, I believe this was my best option in order to get the product out there. I wanted multiple influencers to post the product so that more people would see the post. It also helped to present the product to different audiences.  If you could only choose one influencer (influencer or group) to work with again, who would it be and why? I would choose the influencer called Jerry Gee. This is because he brought me more revenue in a single round than any other influencer. He brought in $10,639 in revenue, while the second closest to him was the group World Travelers who brought in $9,620 in round 9.  Which influencer strategy type (takeover, ambassador, etc.) did you find to work best for Buhi Supply and why do you think this strategy was most effective?

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I used the strategy of affiliate marketing the most in the simulation. Looking back, I should have used more brand ambassadors. I found that brand ambassadors brought me more revenue than affiliate marketing. In future rounds I plan on using more brand ambassadors than affiliate marketing.  Now that you have experience using organic posts, ads, and influencers, what is your plan to incorporate these three elements together for the remaining 3 rounds? Explain your logic. Since I now have experience using all of the different types of marketing involved in the simulation. I plan on focusing on paid advertisements the most. These have brought me more revenue than any other type of marketing strategy. I will also focus on TikTok more than any other social media platform. It has brought me the most revenue out of every platform. I will also continue to place ads on YouTube and Twitter, as those have done very well for me. I will not focus as much on ads that are free. I will use the ads I have already purchased as well as other paid-for ads. I will continue to use influencers, and mainly influencers I have already used. As I used an influencer once, if I used them again, I gained more revenue the second time. I found that the more I schedule an influencer, the more revenue I receive from their post. I also learned that the more you post on a specific platform, the more revenue you will receive from that platform. I will continue to use my already successful platforms, as well as promote my other ones.

Reflection 2 Rounds 4-9

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