In this article we’re going to introduce you to the most current and impactful trends in social media marketing, along with the cost-effective marketing tips you need to keep up and get results.
Join our live webinar: “Thrive in 2024 with cost-effective marketing”
- Date: This Thursday, January 25th
- Time: 11:00 AM (CEST)
Do you want to succeed on social media in 2024? Here is what you need.
1. More posts
More posts = greater visibility
To stand out in 2024's crowded social media feed, frequent posting is essential. More content equals increased visibility and engagement.
2. Quality content
Quality content = lower costs in paid social
High-quality content wins on social media, costing less per engagement. Algorithms favor engaging content, so better content means more savings.
Video = more engagement
Video content is king for driving engagement. In 2024, incorporating video can significantly boost user interaction and interest x5.
Cost-effective marketing: 3 ways to save and thrive in 2024 with Storykit
So you need to do all the above. You need more content for your organic feed. You need to identify quality content for your ads. And you need all of that content to be in video form for ultimate engagement.
How can you possibly keep up with this demand and save money?
The answer’s easy. Storykit it.
Here are 3 ways Storykit can save you money and get you better results in 2024.
1. Time is money. Move video content production in-house with Storykit if you want to save both.
“Moving your content production in-house will save you time and money. If every content item needs to be revised, you’ll never be able to produce the volume you need. The only way to scale production is by letting the person producing make all editorial decisions.” -Peder Bonnier, CEO of Storykit
In the past, agencies and freelancers were the go-to for video content, especially when the social media landscape was less saturated and basic participation yielded results.
In addition, the threshold for video creation was also a lot higher. Expensive equipment and expert editing skills were a requirement.
However, with Storykit, the barriers to producing quality video content have significantly lowered. This means that businesses can now efficiently create what they need in-house with no prerequisites.
Why moving video production in-house with Storykit is the smart move:
- Cut down on costs: Agency fees are expensive. No other way to put it. By bringing video creation in-house, you avoid these excessive expenses and can create a lot more content.
- Reduce time spent on revisions: External collaborations often involve time-consuming briefings and revisions. When you understand your vision best, managing production internally can significantly streamline the process. This approach not only saves time but also ensures that the output aligns more closely with what you want.
- Eliminate bottlenecks by empowering multiple creators: With video platforms like Storykit, no editing skills are required meaning that video creation becomes accessible to everyone. It is literally as easy as pasting text, pressing generate, and getting out an on-brand video.
- Increase volume and flexibility: Success on social media requires more than a one-off video or ad; it demands a continuous stream of content and the ability to rapidly test and adapt. Outsourcing limits this flexibility and volume. In contrast, in-house production enables ongoing creation and experimentation, essential for staying competitive.
A case study - BKS Banks's shift to in-house production
In 2020, BKS Bank faced challenges with their external video production – high costs and slow turnaround times were hindering their ability to produce content at the needed scale. They needed the flexibility to make quick changes and produce a high volume of videos. The solution? Bringing their video production in-house. This strategic move allowed them to efficiently produce the quantity of content required, with the agility to adapt quickly.
2. Stop searching for ideas. Make repurposing with Storykit videos the foundation of your content plan.
“People are scared of boring their audience and posting too much of the same stuff. But the moment that you are getting tired of your message is just when it is starting to stick for your audience.” -Jonna Ekman, Marketing Director at Storykit
In the realm of social media, video content reigns supreme. Your audience craves a steady stream of engaging material, and keeping pace can seem daunting.
The solution? Transform your existing content (blogs, case studies, ebooks, reports, etc.) into video with Storykit.
All you have to do is simply copy your text and paste it into Storykit AI and you can turn one blog into an abundance of videos for your social media channels, allowing you to spread your messages more widely than you might have imagined.
Why repurposing is key according to Heidi Bordal, Community Manager at Storykit:
- Saves time on approval processes: By repurposing text content that has already been approved, you significantly cut down on the time typically lost in lengthy approval processes. This approach not only accelerates content rollout but also ensures consistency and adherence to brand standards.
- Increases repetition of key messages: Marketers often worry about repetitiveness, constantly seeking new ideas and fearing redundancy. However, this mindset overlooks a critical point: repetition is not only acceptable, it's effective. In reality, not everyone sees everything you post, and if they do, consistent messaging reinforces recall. If your content strikes a chord, it will engage; if not, viewers will simply move on.
- Improves efficiency and reach: You already possess a wealth of content – it's time to leverage it to its full potential. By converting existing material into videos, you're not just saving on resources; you're also extending your reach. This strategy allows you to maintain a robust presence on social media without the constant pressure to create something new.
- Helps gauge content quality and relevance: Repurposing allows for quick experimentation with different ideas in video format. This approach lets you test what resonates with your audience. Once you identify what works, you can focus on creating more of that content, optimizing both engagement and resource allocation.
Remember, the key to effective social media marketing isn't always about creating brand-new content. It's about smartly repurposing what you have to continuously engage and captivate your audience.
3. Don’t increase your ad spend for forced results. Use Storykit to identify high quality creatives for paid social faster.
“When you buy an ad in a magazine, it will always cost you the same amount of money no matter how good your ad is. This isn’t the case on social media platforms.” -Sofia, Performance Marketing Manager at Storykit
On social media platforms like Facebook and LinkedIn, the quality of your ad significantly impacts its performance and cost-efficiency. Unlike traditional ads, where you pay a set price for space, social media operates on a bidding system. Here, high-quality creatives gain more visibility and are more cost-effective.
While paid social media marketing can rapidly reach your target audience and generate results, it also poses the risk of quickly depleting your budget if not managed wisely. The key?
Focus on creating better quality creatives by testing different options quickly with Storykit.
How to identify high-quality creatives
Sofia Eriksson, Performance Marketing Manager at Storykit, offers these insights on finding high-quality creatives:
- Leverage organic success: Boost posts that have already performed well organically. This approach utilizes existing social proof and ensures your paid efforts are based on proven content.
- Test and refine your own ads: Quality is often discovered through trial and error. Rather than relying on industry benchmarks, continuously publish and test different approaches and compare your own results. The more you experiment, the better your understanding will be of what resonates with your audience.
If you find that your video ads on a platform like LinkedIn are expensive and underperforming, don't wait for it to improve. Act promptly by testing different text or assets. High-quality content is crucial for efficient and effective paid social media marketing.
Further reading: 4 top LinkedIn video ad examples and why they work
Final insights for cost-effective marketing in 2024
As we jump into 2024, the key to saving money in marketing hinges on working smarter, not just harder. Embracing in-house content creation with Storykit places you firmly in the driver's seat.
This approach empowers you to produce a higher volume of organic content, experiment with varied ad creatives for paid campaigns, and achieve success without the added stress and expense of external agencies.
Moreover, leveraging a platform like Storykit amplifies this efficiency. It equips your team to produce professional, brand-aligned content at scale, streamlining your content creation process.
By adopting these tactics, you're setting your business up for a more cost-effective and impactful marketing journey in the coming year.