As you are likely already aware, Social Media Marketing has become a huge aspect of modern day life and is constantly growing!
As a result of this, the majority of businesses have now begun to utilise this strategy.
Thus, I will explain why it is absolutely imperative to do so in order for your business to survive and scale up.
Just to put this into perspective, research shows that it is estimated in 2019, around 2.77 billion Social Media users will be active on social media. This is up from 2.46 billion in 2017.
In 2018, the average person had 7 social media accounts, this is an increase from just 3 accounts five years before!
Below is a visual representation of the growth in Social Media users over the years. A forecast going forward evidencing that now is the perfect time to take advantage of such platforms.
Statistics from December 2018 showed that 2.23 billion people are active users of Facebook with 1.52 billion of these on logging onto Facebook every day, being considered Daily Active Users (DAU).
With the worldwide population being 7.5 billion now this shows that over 1 in 4 people are active users of Facebook which is staggering!
…and whilst Facebook has endless potential there are still plenty of other Social Media platforms which can be utilised to boost your business growth!
The below chart shows the top 10 most popular Social Networks worldwide as of October 2018, ranked by number of active users (in millions).
Now that I have told you about the never-ending growth of Social Media, I am going to explain the top 10 reasons why utilising the platforms can benefit your business.
10 reasons why it is imperative to have a strong Social Media Marketing strategy
1. The ability to reach consumers where they spend their time and money
As aforementioned, it is established that a huge percentage of the population are now using these platforms.
The current trend is that the average person spends over 2 hours a day on Social Media with teenagers spending on average 9 hours!
Would you not be silly not to utilise these platforms effectively with people spending such a large proportion of their time on them?
Moreover, not only do people spend their time on these platforms, but also their money! Which is often what we want as a business right?
Statistics show that 57% of millennials say that seeing an ad on Social Media builds trust with the brand and makes it feel more relevant to them.
In addition, 48% of people say that they made their last online purchase as a direct result of a Facebook Ad!
However, with all of this mentioned, Social Media Marketing is competitive and businesses cannot always succeed without having a rigorous plan in place
2. Greater ability to target your chosen audience
Whilst newspaper, magazines, leaflets and other forms of direct marketing can be extremely effective at bringing in revenue to your business.
You do not have as much control over who sees the ad which could potentially minimise your Return on Investment (ROI).
Your ad may reach 1 million readers, but what percentage of those are actually your target demographic?
Of course, you will first need to understand your target audience and which demographic it is in particular that you want to reach with your ad.
However once you have done this Social Media Marketing enables us the ability to take huge consumer groups and narrow them down to direct your ad to a very specific type of consumer.
As seen above, Facebook Business Manager allows businesses to create a target audience for your ad and base it on location, age, gender and interests of the people you want to reach.
You can even go as far as directing your ad at people who like specific pages, apps or have responded to specific events!
As a result, you can be more certain that your ad is reaching the right people and ultimately increase your Return on Investment!
3. Social Media Marketing levels the playing field between small and big businesses
For all small businesses, it is extremely difficult to compete with big names such as Amazon, Starbucks and Tesco.
For example which have all built up an established reputation and invested millions into their marketing operations.
This is where Social Media Marketing and Digital Marketing in general can offer endless opportunities to small businesses trying to build a name without the huge marketing budget.
Social Media generally doesn’t require an enormous financial outlay and utilising marketing techniques such as AdWords, backlinks and cornerstone content can help your brand rank above big brands on Search Engines such as Google.
4. Fostering trust
One of the biggest benefits to any business that aspires to build a strong Social Media presence is fostering trust amongst consumers.
With 60% of Instagram users saying they discover new products on the platform. A recent UK study evidencing that over half of adults in the UK do not trust a brand until they see proof that the brand is sticking to their promises. This highlights how essential it is to have an effective Social Media Marketing strategy in this day in age!
Through Social Media, brands are able to create a real connection with their customers through regular communication, showcasing products and/or services, testimonials and curating a tone of vouce.
It is widely recognised among marketers that consumers are now becoming more loyal to brands which they feel they have a true connection with!
Click here to find out more about how brands can use Social Media Marketing to build trust.
5. Increase your brand awareness and recognition
If there is another method available to create awareness amongst your target market then why not take advantage of it?
Social Media Marketing is a valuable tool for promoting your brands content and voice.
Familiarity is key to increasing your brand's awareness and recognition while building trust in the brand.
It is widely recognised that the more methods of touchpoints established by a brand makes with a consumer make them more likely to take action.
For example, a typical consumer is likely to feel a greater connection with a brand after seeing your presence on multiple platforms.
6. More opportunities to convert viewers
Every time you post a blog, image, video or interact with consumers over Social Media platforms there is an opportunity for somebody to react to that content.
Which could potentially lead to referral website traffic, phone calls and ultimately a sale!
Once you have built up a Social Media following you can use the platforms to your advantage to interact with potential new customers and old customers.
Which, if utilised effectively, will massively help to boost sales, retention and connections to the brand.
7. Enhance your ability to provide excellent customer service
Consumers are becoming increasingly demanding in the current market with competition on the rise.
Customers can simply shop elsewhere if you do not satisfy their needs and wants.
This reinforces the need to provide not just average, but exceptional customer service!
Social Media platforms allow current or potential customers to contact your business with ease, at the same time as being easily managed by the business and also more cost effective than other methods!
Not only does Social Media provide ease of communication but businesses can also use the platforms to obtain valuable customer feedback on their products and/or services which can be used to boost company performance.
With a huge proportion of consumers in the UK now choosing to use Social Media to ask questions to businesses this shows the importance of having a Social Media Marketing strategy in place.
One method that businesses should opt to use to promote customer service is via Facebook Messenger Chatbots.
My colleague, Marcus Langmaid wrote a 'How-to guide' in implementing chatbots to booster your user experience. Marcus guides you step-by-step on how to curate a fundamental artificial intelligence system for your brand.
8. Increase your inbound traffic
Without the use of Social Media, inbound traffic to your website is limited to people who are already familiar with your brand or people who search for keywords that you currently rank for in the search engines.
Every Social Media platform is a valuable asset to your brand as it gives users a route back to your website and all content shared on your platforms provides another opportunity to increase traffic.
When quality content is created and used effectively across platforms, the more traffic you will likely generate, resulting in increased leads and conversions.
9. Greater customer insights through Social Listening and Data
Social listening involves monitoring social conversations around specific topics. Which ultimately helps you to understand what is important to your target audience and realise current trends they are following.
For example, you could segment the content you post across platforms into different topics and see what generates the most engagement. Then go and create more content on that topic!
User content can be monitored to see what people think of your business directly.
You can learn what customers are struggling with and create content to address those issues and you could even identify a tone and language that your target audience use to foster a closer connection.
Social Media platforms can also be used to gather data on your customers for example, keywords they will be using and topics they are currently interested in through the use of tools such as Facebook Insights.
Tools such as Facebook insights allow you to see a variety of data ranging from demographics interacting with your ads and locations, to click-through and engagement stats.
This valuable data can be used to your brands advantage to learn from and tailor your ads more effectively.
10. Higher brand authority
70% of teens now trust influencers more than traditional celebrities. Whereas, 49% depend on influencer recommendations before making a purchase according to the Digital Marketing Institute.
If you can interact with major influencers on Social Media or get them to promote your product/service then your brand authority and reach is likely to go through the roof!
However, Influencer marketing is not a necessity in order to achieve greater brand authority.
Simply interacting with your customers on a regular basis shows that you care for them. As a result, customers will use Social Media platforms to speak about and interact with your brand, thus creating higher brand authority.
The more people you have speaking about your brand on Social Media, the more valuable and authoritative it will seem to new consumers.
Moreover, nowadays when consumers want to leave good feedback or brag about a product/service. They do this through Social Media which encourages people to follow your page and again increases your brand authority.
- Marcuslangmaid.com - 5 ways to monetise your social media campaigns
- Marconconsulting.co.uk - 3 ultimate recipes to ensure your social media strategies are a success