Does the thought of spending money on social media marketing make your stomach churn? If so, you’re not alone. Check out these 5 reasons to invest in social media marketing and find out how your brand can benefit from reallocating your marketing budget away from traditional media, towards a digital channel that delivers awesome.
A reality check: It’s not 2008 anymore, and social media isn’t some shiny new toy. This year alone, marketers have spent tens of billions of dollars on social advertisements. And, sure, that’s a lot of money. But beyond the financial aspect is a clear statement for contemporary marketers.
What is social media marketing?
Social media marketing is a form of digital marketing that involves using platforms such as Instagram, Facebook, Snapchat, TikTok, and other platforms to interact with people. You may use it for nearly anything. From hiring influencers to gushing about your company and items to establishing internet communities to leveraging it as a platform for customer support operations, the possibilities are endless.
Is social media marketing worth it?
Are you a small business owner who is looking to invest in social media? You’re not alone. In 2019, nearly three-quarters of small businesses invested in some form of social media marketing. And by 2021, that number is expected to increase to 92%. But just because everyone else is doing it doesn’t mean you should too. Here’s what you need to consider before making the jump into social media marketing.
It aids in the formation and amplification of your company’s personality. Your brand is more relatable through social media. Customers can have a back-and-forth conversation with companies via social media, unlike with television advertisements. If you establish a brand voice guide, social media marketing may assist you in developing your brand personality as you engage with consumers and broadcast messages.
You’ll get quick feedback. In-depth market research can be quite slow, often taking days or weeks to gather customer feedback and uncover insights. However, social media platforms allow you to post polls or ask questions that will generate responses much faster.
Have fun with other brands while being creative. Social media provides your firm with a lot of unique marketing opportunities that weren’t previously feasible. Heinz’s beans topping Weetabix, for example, generated a stir on Twitter recently (early 2021).
It’s not a simple, quick win. Because you’ll need to answer every customer’s questions, handle compliments, and attend to complaints, social media marketing can take up quite a bit of time. It’s also not something where you put in minimal effort and gain maximum rewards – success will come after investing energy and time over an extended period.
The voice of your brand may become muddled. If you plan to hire one or more people to help manage your social media accounts, it’s important to have a brand voice guide. This will ensure that the overall tone and style of your content remain consistent, even with multiple authors.
Social media can be a risk. The use of social media for marketing has both advantages and disadvantages. You may reach customers far more easily using social media, but your brand opens itself up to criticism and reputational risk because it exposes lines of communication to the public.
1. Your Target Audience Is Probably Present
Since most people are on social media for at least a couple of hours every day, it’s safe to say your customers are too. Therefore, rather than waiting around for customers to come to you, take advantage of social media and approach them directly. Whether it be through remarketing ads or shoutouts on Instagram, people usually enjoy hearing from the brands they support.
2 .Advertising that is cost-effective
TV advertising is expensive, averaging around $105,000 for a 30-second commercial. If you’re a small business owner, this probably isn’t affordable for you. Social media marketing is much cheaper and there are many ways to do it effectively. Two examples are running Facebook sponsored messages or using the Facebook ads JSON method.
With Facebook sponsored messages, you can pay to send a direct message through Messenger to anyone who has messaged your business Page. This includes people who have unsubscribed from your page. Each opened message will cost approximately 10 cents.
3. Brand Recognition Through Content Marketing
A spoiler alert for you: social media marketing is not entirely about traffic. The benefits of having a strong social media game center around branding and awareness–two things potential customers want to see before they commit to your product or service. Local businesses, in particular, can benefit from keeping up their social media presence because people often look up business hours and contact info on sites like Facebook and Google Maps. Furthermore, sometimes your social media profiles will show up ahead of search results for your website.
4. Find new customers
Social media is a great way to connect with new customers and business opportunities. If you’re looking for new customers, post about your product or service on social media and offer a discount for people who mention your post. If you’re looking for business opportunities, search hashtags related to your industry on Twitter or LinkedIn. For example, if you’re a web developer, you could search “#webdevelopment” or “#startup”.
5. Increase consumer loyalty by fostering a brand's identity.
A significant social media benefit is that it strengthens customer loyalty to your company. What does this mean? Customers who are loyal to you means they’re less likely to shop with your competitors and more likely to remain faithful even during tough times. Also, research shows that social networking sites have a profound effect on turning satisfied customers into lifelong friends of the brand, subsequently increasing customer value.
Although many brand loyalty benefits are shared with brand awareness, such as customers conveying positive word-of-mouth and increased trustworthiness, there are a few advantages that distinguish it. For example, positive WOM has double the effect on customer acquisition than retention. Nevertheless, here are some other benefits associated with loyal customers:
There are numerous benefits to having loyal customers, such as increased frequency of purchase and business growth through word-of-mouth. Furthermore, if your brand ever experiences changes or struggles, these dedicated individuals are more likely to stick by you.
As you can see, investing in social media marketing isn’t only about vanity metrics like follower count or mindless content promotion without regard for whom it may be most beneficial to. Furthermore, all about being genuine and personal with your audience and adding value to their lives.