Dictionary.com defines Social media as websites and other online means of communication that are used by large groups of people to share information and to develop social and professional contacts. And many businesses are utilizing social media to generate sales. Social media is absolutely critical in the advertising and promotion of any business these days. However you have to ask yourself, why is social media hugely successful for some people whilst it is, at best, a time drain for others? The answer is how you leverage the medium.
To some entrepreneurs, social media marketing is the “next big thing,” a temporary yet powerful fad that must be taken advantage of while it’s still in the spotlight. To others, it’s a buzzword with no practical advantages and a steep, complicated learning curve. Because it appeared quickly, social media has developed a reputation by some for being a passing marketing interest, and therefore, an unprofitable one. The statistics, however, illustrate a different picture. Around 92% of marketers in 2014 claimed that social media marketing was important for their business, with about 80% indicating their efforts increased traffic to their websites. And around 97% of marketers are currently participating in social media but 85% of participants aren’t sure what social media tools are the best to use. This demonstrates a huge potential for social media marketing to increase sales, but a lack of understanding on how to achieve those results. Here’s a look at just some of the ways social media marketing can improve your business: Increased Brand Recognition Every opportunity you have to syndicate your content and increase your visibility is valuable. Your social media networks are just new channels for your brand’s voice and content. This is important because it simultaneously makes you easier and more accessible for new customers, and makes you more familiar and recognizable for existing customers.
For example, a frequent Twitter user could hear about your company for the first time only after stumbling upon it in a news feed. Or, an otherwise apathetic customer might become better acquainted with your brand after seeing your presence on multiple networks.These days, it isn’t enough to have a website for your business – your digital storefront extends to social media marketing sites like Facebook and Twitter, and it’s time to start capitalizing on it. If your company still doesn’t have a Twitter account or a Facebook fan page, it’s time to get with the program and bring yourself up to speed (or risk falling behind your competition). You get to see your target market, up close and personal. You can respond to problems immediately. Your competition is Tweeting and Facebooking like crazy. People are receptive to your messages. It will get you more sales You will find customers you didn’t know existed. Customers you didn’t know existed will find (and buy from) you. It’s free and the social media marketing arena is a fairly level playing field! What’s in a social media profile? We say hidden opportunities for brand marketers to target a prospective customer based on his/her interests, behaviour, and much more. Emergence of data has empowered advertising partners with access to various trend curves, which helps optimise the efficiency and relevance of campaigns and add value to targeted advertising.
Modern businesses lean towards online advertising as a budget-friendly and quick medium to reach out to their target audience. With the emergence of social media, mobile Internet surfing, and usage of mobile applications, banner ads on the web saw a steady decline, with consumers turning a blind eye towards that spot, leading marketers to look out for alternative mediums to connect with their relevant active target audiences on digital. With a majority of Internet users spending time on social media platforms and browsing beautifully crafted interactive websites and mobile applications, online advertisers turned to platforms that provided them targeting based on consumer demographics and usage patterns. Mobile targeted ads have risen as the clear winner when trying to tap the on-the-move consumer.In short, social media advertising platforms make targeting more relevant and deliver more value when it comes to results.
With demographic level targeting, interest and behaviour level targeting, mobile level targeting; the effectiveness of the ads and the chances of them reaching interested customers is dramatically higher. It also allows the advertising networks to keep track of a large amount of data pertaining to a user’s online behaviour to targeted ads specifically. So, like everything else in the world, everything has its pros and cons, social media also has. However, turning a blind eye to it in today’s digital day and age, might prove greatly disadvantageous and even self-destructive because every advertiser desiring to make a mark in the market is now asking for a digital solution, a digital campaign. And the trend is increasing by the minute as you read.