Marketing channels and strategies have changed remarkably over the years, thanks to advances in technology. In 2019 there were an estimated 2.82 billion people on social media. With such high numbers and penetration, businesses can no longer ignore the power of digital marketing. In particular, social media has become the sensation of the online world. Today, these platforms are used for more than simply communicating and sharing photos and videos with loved ones. They are an important part of marketing, with more and more businesses using them to promote products and services as well as to keep customers engaged. However, if you are to be successful with social media marketing, you have to utilize the right strategies. Here are a few things you should know as you prepare to take advantage of the opportunities that social media presents.
What is Social Media Marketing?
Social media marketing is a form of internet marketing that makes use of social networking sites as a marketing tool. Businesses utilize the platforms to promote products or services, drive website traffic, build brand awareness and identity, or to engage with customers. Today, social media is seen as a powerful way for firms to reach prospects and customers, a factor that has made this form of marketing popular among businesses. Another reason why social media marketing has become popular is that it is seen as a more targeted type of advertising. As such, it is perceived to be an effective way of building brand awareness. The main social media platforms at the moment are Facebook, Twitter, Instagram, YouTube, LinkedIn, Snapchat, and Pinterest.
Customers around the world are spending more time on social media networks than ever before. The increase in the consumption of digital media presents a huge audience for businesses. However, brands and companies that want to reach this online audience have to develop effective social media strategies to help them achieve their goals. To have a successful social media marketing campaign, brands have to work on establishing a social media presence on the major platforms, creating content and advertorials that can be shared easily and requesting customers feedback through contests and surveys throughout the campaign.
Before investing in social media marketing, you should understand how this form of advertising differs from traditional marketing, the reasons why it is effective, and the cost. For information on social media management pricing, visit BizIQ for details.
How is This Different from Traditional Marketing?
Social media marketing differs from traditional marketing in a number of ways. While the two types of marketing can be used together, it is important to understand the differences so you can create the most appropriate strategies.
Level of Customer Engagement
While traditional marketing is a one-way street where businesses provide the target with information, social media marketing offers instant connection for engagement and interaction. The engagement helps to build better and long-lasting relationships, ensuring your business performs better.
Ease of Measuring Results
Unlike traditional marketing, social media makes it easy to establish whether your marketing efforts will be successful. By allowing you to measure results from time to time, digital marketing helps you to know whether you are headed in the right direction. Measuring results also gives you a chance to make the necessary changes and adjustments so you can achieve your marketing goals.
With traditional marketing, one of the limitations that brands face is the inability to go beyond a local or regional audience. On the other hand, social media marketing allows you to create a customized so you can reach a much wider audience. By altering your campaign, your content can go viral, effectively letting you reach more customers and increase your sales.
The modern customer is informed and discerning, a factor that makes it important to create advertisements that target the specific ideal customer you want to reach. Traditional marketing has limited customization options, making it difficult to go after targeted customers. Using social media for marketing not only lets you reach the right customers but also show them offers that are tailored for them.
Cost and Effectiveness
In terms of cost, social media is more cost-effective than traditional marketing. For example, paid ads are way cheaper and more convenient to manage compared to billboards. Also, with the customization options available through social media, your marketing campaign is likely to be effective, provided you use the right strategy.
Timing and Updating
Traditional marketing does not give you control over timing since the only way to change the information on your advert is to replace it with a new one. Social media marketing offers more flexibility by allowing you to edit and update your ads so you can make a significant impact on sales numbers.
Is it Effective?
When it comes to marketing, social media is a powerful and effective way to reach your target audience. By 2021, it is expected that the number of social media users around the world will be about 3.01 billion people. With such a high number of people using social media every day, your customers are definitely on these platforms. You will only need to find the channels that they use often and connect with them.
When you market through social media, consumers will be more receptive to your message. This makes it easy to interact with them and show the personal side of your business. Sharing your content on social media not only helps to spread your marketing message but also increases your visibility. Such visibility makes social networks great platforms for building brand awareness and identity. In addition, your efforts are likely to increase inbound traffic and present opportunities to engage new leads and convert them into customers.
Compared to other forms of marketing, social media helps you to reach specific customers. Instead of broadcasting general messages for everyone to see, social media lets you create customized messages that your target audience will relate with. This type of marketing is cost-effective, will help to improve your search engine rankings, and will help to ensure brand loyalty.
The effectiveness of social media marketing is also evident in its ability to connect your brand with customers you never knew existed. When your post or advertisement goes viral, more people will see it. This will help you reach a wider online audience than you may have thought at the beginning of your campaign.
Any brand that is keen on growing its online presence and visibility should consider making social media marketing part of the larger marketing strategy. However, to be successful with social media marketing, you should understand what it is, the opportunities available, and the right strategies to use.