The Reasons Why Marketplaces Struggle With Social Media

Many marketplaces are looking to be the next big thing in the industry and go through get lengths to achieve it. One of the most popular trends marketplaces have adapted to is leveraging social media. What better way to reach your potential customers than interacting on a more personal level but are marketplace actually doing so? You may ask yourself, what am I doing wrong? With so little time to get things done, automation, and lack of being “social” it can really hurt your marketplace. Let’s take a deeper look at why your marketplace is struggling with social media.

1. You Leave Your Account On Autopilot.

Many social media coordinators and managers use auto publishers or schedulers such as Hootsuite and Buffer.  Many have grown to love these automation tools and get into the mentality of “set it and forget it”. While there is nothing wrong with that as you want to have content pushed out on a consistent basis, but getting too comfortable with that is the issue. Using automation should be used as a leveraging tool to help build upon your strategy, not your whole strategy.

Articles and images that are being published on your social media accounts are meant to spark conversation and engagement. Don’t let it run on autopilot, and jump in on the conversations. If comments are being left, be sure to respond and thank members for contributing. Let your channels be a place where your community can voice and share their opinions. Encourage those who share and take part when the opportunity is there. Where’s the fun with social media if people aren’t being “social”?

2. You Talk Too Much About Yourself.

Everyone has that one friend who likes to talk about themselves and their problems. That is someone you probably can spend only a certain amount of time with or don’t see very often. Think of your marketplace’s social media channels the same way. Talking too much about yourselves will get stale and boring. People will start to tune you out, forget what you are saying, and even unfollow if it gets to that point. Engagement will start to decrease and your channels will soon start to be a thing of the past.

If you aren’t sharing posts about your marketplace, share things relevant to your industry and audience. Take a look at your analytics to see what is most popular with your audience and attracts the most engagement. A good rule of thumb is sharing 80/20. 80 percent of the time you are sharing content that is not about your business and things that can help your audience with their decisions. It can range from professional to non-professional to shed some light on your marketplace’s personality. Get creative with your content and think outside of the box!

3. You Worry Too Much About Your Ratio.

A big misconception many marketplaces have is they must have a bigger ratio of followers to following. While that does make your platform look good at first glance if there is no engagement then what good is that? Stop worrying about your ratio of who to follow and who not to follow. If they are relevant to your industry and are active users, then why not? We all want to have millions of followers while only following a selective amount but let’s face it, we are not celebrities.

The success of your social media accounts starts with the community you build around it. Concentrate on making new connections and interacting with new users. Show the personality of your marketplace and be welcoming. Establish relationships with users even if they are not customers of yours. If they are following your page, they are still supporting your marketplace. They may need or know someone who does need your services down the line.

4. You Don’t Measure Your Success.

Creating new campaigns are always a fun yet a tough challenge. How can I increase my email lists, gain more followers, or gain new sales leads?. Have you run a similar campaign previously and if so, what were those results? Set those as your benchmark and aim to improve on those numbers. Look at what worked and what didn’t. No data is bad data, there is always something you can learn from it.

In our eyes, a successful campaign is one that creates the most engagement. Whether that is by comments, shares, likes, and in some cases impressions. No matter what your goals are for the campaign, it must be measured. Once the campaign is over take a look at the data. Did you surpass your benchmark goals or did something go wrong? Many marketers simply run campaigns and move onto the next one. Don’t make that same mistake and take the time to review with your team and build upon the momentum you have created.

5. You Lack Relationship Skills.

I don’t mean to hurt your feelings but it’s true. If you are reading this then you are more than likely looking to improve your marketplace. Nothing creates brand loyalty more than building relationships with your audience. Why should someone purchase from a brand that does not care one bit about them? Take a second to think about some of the topic successful businesses: Airbnb, Amazon, Slack, Zoom. What do all these companies have in common? They have established relationships with their users and continue to listen what people are saying. They’re not sitting up their offices thinking “Oh we’re making great money now, no need to make any changes”. They are continuing to put their customers first by making it an easy and painless experience.

If you have ever dealt with any of those companies, you understand how great their customer service is. The employees genuinely take the time to help you solve your issues and you are not stuck on hold for a long period of time. They care what kind of experience you have and that helps further build the relationship with you. The company understands your happiness today can make all the difference down the road.

As you continue to look for ways to improve your marketplace, just remember to stick with the basic fundamentals. Don’t make these common mistakes and fall to become one of “those marketplaces”. Help make yours stand out from the crowd and be the one everyone loves to go to.

Do you have stories about your struggle you’d like to share? Give us a shout on social media how you were able to get through it.

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