Many people are wondering who will win the advertising war between TV and social media. It seems like TV is as popular as ever and yet so many people have their eyes glued to their Facebook, Twitter or Instagram accounts? So who will win? Which has more impact on sales and customer engagement ? Where should you put your advertising dollars?
The truth is that neither will win as they are very quickly merging to create what is called Social TV. Here are three ways that the TV and social media are merging and what it means for your business.
First, more televisions, Pay TV channels and mobile apps are providing smaller, second screens within the larger picture that allow you to make comments on what you are watching and to share these with friends. These second screens are important because they also allow you to buy what you see on the show and then share that purchase with friends and peers across social channels.
Second, more advertisers are starting to create their own shows much like there was in the 1950’s and 60’s and that’s partly because the cost of creating a high quality video shows is so low. For instance, McDonald’s just announced it will be creating its own content that integrates advertising that will then be shared across social channels.
Third, since viewers are how sharing what they buy across their own social media channels, there’s a new opportunity to not only make sales through second screens but also to have existing customers brings in new customers. This can be accelerated by making offers that customers can extend to their network that benefit them, their friends and your business.
So here are 3 keys ways that every small business owner can take advantage of Social TV to build their business:
1. Use product placement to allow customers to buy your products inside a program, webisode or branded content.
2. Leverage the cost efficiencies of digital content to make your own online program that features your products and services.
3. Create a social shopping experience that lets customers share what they bought with their own friends, family and colleagues.
This way no matter who wins the battle for customer eyeballs and advertising dollars between the studios, networks, Pay TV providers, Google, Apple, Hulu or a host of new players, you’ll stay touch in with your customers and leverage how they like to buy and share their purchases to build your business.
Simon Mainwaring is the founder of We First, a leading brand consultancy that provides purpose-driven strategy, content, and training that empowers companies to lead business, shape culture, and better our world.