Social Media Marketing presents a great opportunity for businesses to connect with customers in a way that is faster, more direct, and responsive than ever before. Understanding the benefits of social media marketing will give you a better grasp of why this evolved form of customer communication is an absolute must for any business owner look to prosper online. Below, you will find the top 5 reasons for establishing a presence on social media:
- Free Distribution of Content: Traditional advertising, from conception to production, can be extremely expensive. It isn’t always a realistic alternative for firms with a relatively low capital capacity. If you’re searching for an inexpensive way to get your message heard, social media will not disappoint. Whatever content you have produced and feel should be shared with your consumers can be done for free on a wide variety of social networks. Paid online advertising is also an option that is relatively inexpensive. If you’re looking for guaranteed results, consider using the Google Adwords online advertising program. They offer a (PPC) Pay-Per-Click option where payment is only required given consumers click on ads.
- Improved Recognition: The internet is a great way to acquire new customers and communicate with current ones. New customers can come from a variety of sources online. Facebook shares, advertisements and referrals are some of the many ways establishing social media accounts can lead to customer acquisitions. Current customers may also benefit from your online presence by having a more efficient way to communicate with your brand and learn things they were previously unaware of. Establishing an online portfolio through social media exposes your business in ways that are new and exciting.
- Mobile Presence: Generally, users do not download a company’s mobile application unless they have a high degree of loyalty associated with the brand. Facebook now has over 1 billion monthly active mobile users. Social Media Marketing is a great way to indirectly reach potential customers. Although your customers may not be looking for your company on Facebook, any business can establish a profile. Customers are much more likely to become a fan of your business page than downloading your mobile app while it is just as effective given the average mobile user will check their Facebook newsfeed an average of 4 times a day.
- Studying Your Audience: Over time, it is important that you establish a proper target market profile and conduct research that allows for a better understanding of your consumers. Many firms pay for this research by outsourcing the tasks to marketing research companies who often charge high-priced fees. There is a vast amount of relevant information that is discussed and documented on your own social media pages. With tools like HootSuite, which are designed to convert social media information into relevant analytics, you can begin a whole new approach to reach your audience. Facebook Insights, in HootSuite is able to determine the most popular language, age, gender, and other important demographics that are present on your Facebook page. This information can then be used to create more specific and effective advertising campaigns.
- Competitor Monitoring: It isn’t difficult to study competitors closely through social media. Your major competitors, their offerings, and their promotions are only a click away. In competitive industries where you are required to keep tabs on your major rivals, social media is extremely helpful. For example, two competitors in the makeup industry such as Maybelline and Covergirl are able to monitor each other’s Facebook page for indication on which makeup products are being promoted. If Maybelline is selling foundation at a low price, Covergirl may begin promoting some of their own foundations.
Social Media Marketing has become an inevitable path for any business looking to get ahead. It has provided those with limited capital an efficient way to target customers and establish an identity. Remember that establishing a brand online will take consistent time and effort. The benefits will outweigh any inconvenience. The evolution of customer interaction has dramatically changed and the only way to fulfill the immediate response expectation of consumers is through social media.
At concept9, we believe that no single part of the online marketing funnel exists in isolation – we formulate end-to-end strategies that take advantage of every weapon in our arsenal. Social media marketing is definitely high on that list, but it must work in tandem with other aspects of your online presence to truly benefit your business. Contact us today to find out more!