Sizing up the Social Media Platforms

Marketing experts discuss the value of various social media platforms for brands looking to convert followers into sales.  Learn more about the NG Omnichannel Summit. In our latest GDS Video Snack, Shawna Ryan, Editor at Meet The Boss TV, speaks to Lyle Stevens, the CEO and Founder of marketing company Maverick, about rating social media platforms for brands looking to gain followers whose purchase power can be measured.

Hey Retailers – with so many platforms now available for your social media marketing, where do you think is the best place to start, or focus most of your resources?
Sure, Snapchat seems to be the belle of the ball these days, but do experts think it’s the best place for retailers to focus their social media marketing? 

Lyle Stevens, CEO, Co-founder, Mavrck:
“My name is Lyle Stevens I’m the CEO and founder of a company called Mavrck”. 

Mavrck helps retailers understand which social networks are most useful to them based on their current customer base and social media following.  Now there are a ton of factors that go into choosing the best platform, but you might be surprised what those at Mavrck told retailers at our NG Omnichannel Summit is almost always the #1 first and best choice? 

Lyle Stevens, CEO, Co-founder, Mavrck:
“Facebook is #1. Twitter and Instagram are the two that battle it out for the #2 spot in the eyes of the customer, and Pinterest and Snapchat are fighting for #3.  So, it varies depending on whether you’re talking to a retail brand or CPG brand, but typically Facebook is always number 1, and the others are always battling it out”.

Surprising? Perhaps the reason is that while Snapchat was ranked in the Top 10 of most downloaded apps in over 100 countries worldwide with users watching an estimated 8 billion videos each day – it still has one important issue that might prove problematic to measuring its real influential value.

Lyle Stevens, CEO, Co-founder, Mavrck:
“A key part of being an influencer is being able to validate that you are one and see the results of their influence and Snapchat is difficult to measure that downstream. I’m watching a video but there’s no way to attribute my downstream purchase to watching that video and on top of that Snapchat doesn’t have out of the box reporting that other platforms offer so marketers can get access to their data via an API, but but they have to build their own reporting and analysts solution against that API, which costs a lot of money so Instagram and Facebook have a lot of reporting techniques that puts them above Snapchat in that capacity”.

Watch more videos by Shawna Ryan, here

 

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