What Is Social Media Marketing and Its Benefits?
A business depends on marketing to garner new customers and establish its brand. The businesses spend a heavy amount on marketing activities. The online marketing is increasingly becoming a major part of marketing campaigns. After all, you cannot ignore a medium that has over 3.5 billion users. Also, the cost component of online marketing is a fraction of traditional practices. So, why do you need to use the social media platforms as a marketing tool?
What is social media marketing?
SSM or Social media marketing is the most important part of internet or online marketing. The SSM uses social media platforms as a marketing tool. It involves promoting your product or your brand through these social media platforms. This is a content driven marketing practice. The first necessary thing is quality content. The content should be interesting and beneficial to your target audience. Another important thing is customizing your content to suit different social media platforms. These points are key to a successful SSM.
Why is it important for a business?
The number of social media users in 2017 was 2.77 billion. This amounts to about one-third of the world population. As a marketer, you cannot ignore an opportunity of engaging with such a huge audience.
The engagement levels of social media platforms are higher than any other medium. Social media enhances the potential for interaction between your brand and target audience. The next best part is content sharing. The content shared by you can be shared by people that find it interesting or beneficial. This allows you access to untapped audiences.
The benefits of social media marketing
It helps you in providing maximum exposure to your brand. You will also be easily accessible to new and existing customers. Your social media presence makes it easier for your customers to find and interact with you. Easy accessibility improves the familiarity and recognizability of a brand to existing customers. It also provides opportunities for repeat business.
According to various studies, The presence of a brand on social media improves their customer's loyalty. The easy accessibility and improved interaction play a crucial role in this regard. A study indicates that over 50% of your customers that follow your brand on social media are more loyal to your brand.
The inbound traffic
The search engine rankings are crucial for your business. The inbound traffic depends on the SEO content on your website and the usual customers. Your social media presence gives a powerful means of driving traffic to your website.
Your social media presence and activities improve your search engine rankings. The search rankings improve with the number of social media shares of your content. The higher the number of social media shares, the higher will be your search engine rankings.
Social media facilitates identifying the needs of your customers. It also helps in identifying their response to your content. This allows you to design content that garners maximum engagement and shares. The social media also have tools that identify the conversion rates.
Your business gets more conversion opportunities through social media. This is due to an increase in exposure and visibility of your business. When a business or brand interacts on social media platforms they appear more human.
The personification of business or brands results in better business opportunities and conversion. This is due to the fact that people prefer to do business with other people. According to various studies, the lead-to-close rates of social media is 100% higher than outbound marketing.
Cost-effective means of marketing
The SSM provides a cost-effective way of marketing your product or brand. The social media advertising is also cheaper than traditional methods of advertisement. It costs considerably less both in terms of time and money to maintain and run a social media campaign.
The social media platforms have customer demographics based advertising opportunities. The social media platforms are the biggest source of demographic data. They gather tons of data on their users on a daily basis.
The social media platforms use this data to provide targeted advertising opportunities. This allows you to focus on your target audience to get much better results from ads. You can also track the reception of your advertisement and audience response.
It's beneficial and critical for a business to engage in SSM. It quite possible that your competitors are already engaged in SSM and reaping its benefits. This could be affecting your business and your potential customer base.
A well designed and executed Social Media Marketing Campaign can help you in establishing and promoting your brand. It can enhance your exposure, visibility, website traffic, and conversions. It helps you to level the playing field and in some cases gain an edge over your competition.