Social media marketing has come a long way since the first recognisable social media network, Six Degrees, was created in 1997. Social media is now the leading force in digital marketing, having influenced businesses across the board to utilise it when distributing ads to their target audiences.
However, in 2019, you still find a few sceptical marketing managers that don’t see value in social media marketing. In this blog, we shed light on the key advantages of social media marketing and why businesses need it to stay relevant within their market space.
Brand awareness is an essential part of any marketing strategy, whether you are a new business or an existing business launching a new product or service. Social media boosts your brand visibility among prospective customers, letting you reach a broad audience using less time and effort. By using the targeting tools on Facebook, you can target your desired audience by age, location and interests. This helps to improve the effectiveness of your marketing efforts.
Companies across the world continue to complain about the cost of advertising, now that’s a thing of the past. Marketing on social media is possibly the most cost-effective way to market your business. Creating an account and signing up is free for most social networks. When you decide to use paid advertising on social media, it is advisable to start small to see what you should expect.
Losing a client is hard, and gaining a new one is harder. However, retaining an existing customer is ten times easier. Which is why customer service should be your priority.
By utilising social media to connect with your customers, you can interact with them and understand what they require from your business.
When you understand your clientele, you can leverage that to improve your customer service to fit their needs. Through replying to comments and responding to inbox messages, you also create an invaluable relationship with your customers.
As businesses across the board are competing over the same market share, what makes your business stand out? Through social media marketing, you can communicate your business values and expertise. By showing this, you create a brand that resonates with its target market and further solidifies your market authority.
Quantifying the returns on any marketing investment is critical to the success of your business. Unlike a traditional billboard on the highway, a majority of social media networks offer a reporting platform where you can see the real value of your social media marketing. Through this reporting, you can measure engagement, reach and more, making it easy to view your ROI.
The importance of social media marketing in business can only be understood once you start utilising the platforms. If applied correctly, in the long run, social media marketing can prove to be cost-effective. Because as of today, even the paid social media campaigns, such as Facebook Ads, are cost-effective compared to alternative advertising options such as traditional advertising.