1. That’s Where All the Customers Are!
Despite the industry to which a business belongs, its customers are likely on social media. With almost 60% of the world’s population using social media, it has become imperative for businesses to use this medium to reach out to their target audience. Building a brand on social media will help your potential customers find your business easily. People are using social media pages to find and research brands and products, read reviews, post queries, give feedback, and help them with their buying decisions. For example, if a customer is looking for a poolside restaurant offering a candlelight dinner, they may search for it on Instagram or Facebook. Not having a Facebook and Instagram page will make the restaurant lose this customer’s business. Ideally, businesses should regularly post offers, information about new products and engaging messages that will help them gain new customers.
2. Moving with the Times
The world around us is changing and so should we. History has shown us how those who didn’t adapt to changing technology and trends lost momentous opportunities and were thrown out of the game in some cases. If this dynamic environment has taught us something, it is adapting to the latest technology and keeping oneself abreast of changing times. While traditional media is in no way obsolete, the technological age that we are living in demands the use of social media marketing. With cell phones or handheld computers in the hands of most people, social media is just a click away. Social media has over 4 billion users, which is expected to grow to 6 billion by 2027. This makes it a formidable tool to be used by marketers.
3. Engagement, Engagement, Engagement!
Customers are the key to any business’ survival and growth. Any business looking to generate brand awareness, brand loyalty, and customer satisfaction needs to be able to engage its customers. Customer engagement means delivering personal experiences to your customers by cultivating relationships with them through active communication instead of single, one-off, or fleeting transactions.
In this modern era, where technology is at our fingertips, engaging with customers has never been easier. Traditional media doesn’t provide much scope for customer engagement. Social media, on the other hand, is all about engagement. Social media marketing strategies must be designed keeping this in mind and businesses must develop social media marketing content that will attract their customers’ interest and help build a long relationship with them through continued communication.
Engagement is one of the most important social media metrics used to measure the effectiveness of social media marketing campaigns. Therefore, brands build social communities to increase customer engagement, which if done correctly, can result in increased brand awareness and loyalty.
4. Social Media Helps Target Ideal Customers
Using social media advertising, businesses can target their advertising campaigns towards users who are most likely to buy their products. Businesses need to define their target customers and understand their behavior. Social media platforms provide valuable data on customers looking to buy products, e.g. their age, gender, location, web page history, transactional data, and much more. This can be used by businesses to optimize their advertising, make it more effective, and target the ideal customers. This translates into increased website traffic, brand recognition, and conversions. The cookies from customers’ browsers are also used to gain insights into their search history, likes, dislikes, and buying habits. With so much data and information, social media is, indeed, a valuable tool that businesses cannot afford to ignore if they want to cash in on its benefits.
5. It is Cost-Effective
Social media marketing helps cut costs compared to other media like print and television. Running advertising campaigns on TV, newspapers, radio, hoardings, and other traditional media incurs huge advertising costs. Social media, on the other hand, is relatively cost-effective. Just by investing a few hours per week on social media, businesses can yield great results. The CPM (Cost Per Thousand) on social media is almost 3 times less than traditional media, making it an extremely cost-effective medium. It is especially beneficial for small businesses having limited advertising budgets and manpower. Even if a business decides to use social media marketing extensively as an important part of its media mix and social media marketing strategy, it still remains significantly cost-effective. So even with small budgets and fewer resources, businesses can run social media advertising campaigns on Facebook, X, Instagram (Read Instagram for Small Businesses: A Short Guide to Leveraging Instagram), YouTube, LinkedIn, Pinterest, and other social media platforms, have the desired impact on their target audience, and increase their inbound webpage traffic, and convert new leads.
Social Media Marketing Essentials You Always Wanted To Know is an all-encompassing guide to get your social media marketing fundamentals in line.
Also read:
- How to Create a Marketing Plan
- Ethics in Market Research
- 4 Relationship Marketing Strategies Successfully Used by Big Brands
