6 Benefits Of Social Media Marketing For Your Business
The wonders of social media marketing! One of the best outbound marketing methods in today’s modern world. Most businesses that are looking to expand outwards, reach more people and make more profits should be looking to invest some time and resources into social media.
Statistics in 2016 shows there are 7.3 billion people in the world, 3.4 billion of those have internet and 2.3 billion of those are active social media users.
This indicates that there is a massive potential audience out there, no matter what type of industry you are operating within or whether you are B2B or B2C. Being able to successfully manage your company’s social media platforms and devise effective marketing strategies can really have a huge impact on your organization.
The following are the 6 important benefits of social media marketing for your business:
Generating leads through social media is a proven way to cut down costs while improving the number of sales. It is no surprise that roughly 45% of companies in the USA reported that they reduced their marketing costs when they started to increase their efforts with social media marketing.
You can get an understanding of what type of content, products or services your audience is into by starting to publish a variety of content to your audience in order to get engagement out of it and in turn, begin to build a following. The more comments, shares, and likes you are getting on a post, the more your followers are showing that they are into what you are posting, this is just one example of how you can refine followers into leads. Another way you can go about obtaining leads is by looking into your insights and analyzing the data provided and also by opting for advanced lead generation services and tools.
The benefits of this are quite clear, reports from various organizations have stated on an average, revenue increased by 24% of businesses when they utilized social media for lead generation.
2.Build Your Brand
Your company’s social media pages should act as a hub of information that relates to your company, what it does and it must be easily accessible so that customers can find your page and engage directly with you. 83% of marketers choose to invest into social media to help with brand exposure and to build a loyal following.
A lot of people who are interested in a product, service or organization will turn to social media to research a company further to find information about services, products and perhaps look into what you are sharing and posting.
Having great posts on your social media page that represent your company is a good way to attract impressions, followers/ fans, and exposure. There are a lot of different types of content that you can post on social media, the main platforms such as Facebook, Twitter and LinkedIn have options to allow you to post links, videos, pictures, polls and much more.
One of the best things about social media marketing is the fact that you can have a very successful campaign without even having to invest millions into it. There have been a lot of successful campaigns that massively increased brand awareness and ROI that started with a small budget.
One way you can save money in a campaign is to utilize the correct targeting of an audience alongside other advertising methods. By using PPC advertising you are only charged when the person clicks on your advert – meaning that if you target the correct audience for your social media campaigns then there is a higher chance that the person will stay on the page once they have clicked your ad and may make a purchase.
One example of a notable campaign that did not require much investment was the Coca Cola’s Share a coke campaign, the marketing team part behind this essentially created a campaign where the customers themselves were the main catalyst to contribute to the success of the campaign. This worked because customers would post pictures on social media when they bought a bottle of coke that simply had their name on it. This was a huge success for Coca-cola, with almost 1 Billion impressions on twitter alone, 730,000 personalized glass bottles sold on the online store, over 150 million personalized bottles sold. Impressive.
For such a simple campaign, the ROI and exposure the brand got through social media posts were incredible, it served as evidence that you don’t have to invest a load of money to have a successful campaign.
4.Better Understanding Of Your Audience
Another use of social media that can prove beneficial to your business is by analyzing the customer engagement and analytics to find out answers to questions you may have about your audience.
When operating a business, it is always very useful to know more basic information and the demographics of your audience, it can help improve further products or services and also gives you an understand of who your audience really are. One benefit that social media platforms offer is the ability to look at your specific demographics of your following base, such as what age they are, where they are from and much more.
5.Consumer Relations and PR
Social media is an amazing platform to improve your customer relations and PR due to the ability to connect with so many different people and the ability to post a message out to potentially tens of thousands of people instantly at the click of a button.
The ability to encourage, monitor and respond to feedback from your customers in real time is a big step forward to improve your product or service. Having a system set up where you can note down specific feedback and have it organized into a priority list is one way to keep on top of managing feedback.
With the correct social media marketing training, it is possible to train your staff so that they can be in a position to professionally handle a range of issues that may arise, also so that they are aware of any policy that may relate to the use of social media. The last thing anybody wants is a public blunder which gives the company negative PR.
What sort of article would this be without a mention of how insanely good viral ads can be for your company! Most companies dream of having their content going viral on the internet where it will be seen by millions of people. The return on investment you get is amazing, take a look at these 10 marketing campaigns that became viral hits.
There’s no formula that when used will instantly create a campaign that is destined to be viral, most of it is down to luck, right timing and the right place. However, there are factors in which you can control that will have some give your content some shareability factors that can propel it into going viral.
Keep it simple
It’s a well known fact that most people today have a significantly shorter attention span compared to what they used to have back in the day, when people are scrolling through their social media timelines the last thing they want to do is watch an unnecessarily long video, long essay or a picture that’s got way too much going on. Keep it simple.
While some campaigns only went viral down to chance, most of them were created with the intention of going viral. Marketers realized that having a powerful message that encouraged people to really engage with the content is enough to make it big time.
One of the major factors of whether a piece of content has a high shareability level is how well it can trigger certain emotions, whether it makes somebody happy, angry, sad, surprised or anticipation.
Social media is a relatively new platform for companies to be immersed in, however, it is becoming increasingly popular amongst businesses for a variety of reasons as posted above. If your social media marketing is done right, your business can reap the many benefits of social media marketing.
Author: Bhav Seera I have been working with London Management Centre since October 2015 and am a young aspiring digital marketer who is still eager to master the field. London Management Centre offers corporate training courses in London and Dubai in many areas, specializing in soft skills such as leadership, management, HR, PR, etc.