Social media is not just any passing marketing strategy. It is a place of serious business. According to a Hubspot report, 92% of marketers in 2014 accepted that social media proved beneficial for them in some way or the other. According to another report by Social Media Examiner, 97% of marketers in 2014 participate in social media and 85% of them are not sure which tools are best to use. The scenario does not change in the next year as 66% of marketers plan to increase their use of certain social media platforms like Twitter, LinkedIn and YouTube.
The research summary indicates that social media marketing has got a huge potential for increasing sales and giving businesses the boost, they require. But there are people for whom the word ‘social media’ is just a buzzword with no real advantage. They must know the reasons why social media marketing proves to be an effective marketing strategy:
- Posts on the social media drive traffic: More than 2.5 billion people across the world have smartphones and a majority of them have accounts on one or the other social media platforms. When they see your company’s posts, which should be interesting and original, they are redirected to your company’s site. Great way to drive traffic, indeed!
- Social media marketing increases brand recognition and improves brand loyalty: Social media marketing makes you reach to a wider customer base. It gives ample opportunities to your existing customers to learn about your business. Brands who are consistent with marketing on different platforms earn greater loyalty from customers.
- It results in higher conversion rates: Although there are several ways in which brands get higher conversion rates, one of the important factors working is the humanization element. When people see your brands active on social media like other humans, they trust you more and want to build relationships with you. Again, some research also shows social media has a 100% higher lead-to-close rate than outbound marketing. Thus simply promoting your brand through meaningful ways can generate higher conversion rates.
- Social media helps you with targeting and retargeting: Social media ads are highly customizable. For example, Facebook ads allow you target audience/customers by certain characteristics like their location, education level, purchase history and also pages they liked. This makes easier for you to target and retarget your customers.
- It improves sales: Companies who promote their products/services for at least 2/3 yrs see growth in their sales as a result of increased exposure and recognition.
- It reduces marketing expenses: An analysis of a 2014 Social Media Examiner’s report that took into account 2500 marketers reveals that 57% of companies with less than 10 employees realized the difference in marketing expenses.
Social media marketing can leverage your presence and help you find customers you never know existed. This is the new form of marketing in the new millennium. If you are not representing your business across all social channels, it’s time you get ‘social’.