Is Social Media Marketing Worth it for the Business Promotion?

Is Social Media Marketing Worth it for the Business Promotion?

Do you know, the number of active monthly social media users worldwide is projected to reach 3.02 billion by 2021? Amazingly, it is one-third of the world’s population accessible from your screens.

And with the unprecedented growing population on various social media platforms, brands need to maintain their hardcore digital presence on every platform. Today, the digital presence is not confined to ensure your survival in the market. But it ensures your legitimacy as a business, and if a business harnesses these social channels with proper optimization, it can result in exponential business growth. 

So here are some tips to help your business, reap the benefits of good social media marketing:

1) Engage with the Trends

Businesses tend to restrict their content strategy and are very scared to tweak it. But if they analyze the latest social media strategy, all are pointing towards the importance of engaging with the trends and applicable current affairs. 

By following the same content strategy, the consumer believes that the business is engaging in a meaningful conversation with them and not just trying to sell them products. Such sort of engaging and personalized content receives a lot of engagement organically and has the potential to get viral, giving your brand a massive exposure at minimal to no cost.  

2) Start selling online

Creating an online marketplace for prospective customers to easily browse through your products, services, and easy placing of an order with your company can be a game-changer in your business plan. 

And if you don’t have much capital to invest in your e-commerce website. Consider selling your products, services on platforms like Facebook Marketplace, Instagram, Amazon, and more. 

54% of social browsers use social media to research products (GlobalWebIndex, 2018).

3) Integration and Cross-platform Marketing

Driving traffic from one social media profile/page to another is one of the most effective ways to grow your business organically. One can link all the profiles to the website, emails, and other social media profiles. Always focus on creating content that drives your followers from one platform, to interact with you on another platform. 

Use the right keywords and hashtags to increase your brand image and some word of mouth can give your brand an initial organic push that it needs. 

cross platform marketing

4) Create content that drives engagement

It has been considered as one of the prominent and easiest ways to create and maintain a responsive base through engaging content strategies like contests or polls. It can garner the attention of the followers if you complement these contests with some discounts or gifts. Contests are a good opportunity to create user-generated content as well. The participants can be encouraged to provide reviews, feedback, pictures of them using the product, etc.

73% of marketers believe that their efforts through social media marketing have been “somewhat effective” or “very effective” for their business (Buffer, 2019).

5) Paid Marketing

Organic reach is always considered significant when it comes to reaching. But, unfortunately, organic reach and engagement have declined drastically, as the new algorithm heavily supports and promotes paid engagements. All the major social media platforms are offering paid ad spaces. These platforms also allow one to carefully curate and customize a target audience to reap maximum value for their money.  

Through these paid campaigns, audiences can be targeted based on general factors such as gender, age, geography, demography, and more. Apart from these, some advanced factors such as preferences, hobbies, profession, institution, and more are also there. One must understand that a general or a bad target audience often leads to less or bad leads. And every badly managed targeted campaign is a missed opportunity and a waste of money. To identify your targeted audience and it is important to strike a balance between a too generic vs a too targeted audience.

6) The importance of retargeting campaigns

Once a brand awareness is created, one can focus on lead generation campaigns. But despite the quality of the campaigns, a large number of leads drop out and do not convert into customers. Many consumer behavior studies suggest that most people don’t tend to make a purchase when visiting your website for the first time. 

They might add some stuff to their Wishlist/ Cart but leave the website without making any purchase. This is where lead nurturing is a good way for regaining old cold leads and converting them into customers.

The process of retargeting involves tracking cookies that save a user’s activity on distinct web pages. For instance, if a lead clicks on your website through a Facebook ad, visits the product page, and then leaves. The applications such as Facebook Pixel track this activity and will start to display targeted ads to that specific customer.

The ads will likely be centered on the product of interest to the customer. This overtime nurturing will pave the way for the extra nudge they need to finally make a purchase. 

The importance of retargeting campaigns

7) Analyze, Learn and Apply

Invest in tools that help with tracking and analyzing your consumer behavior, providing valuable insights for your business. Most social media platforms today have analytics tools at no additional cost. 

These insights can assist you to understand what kind of content your audience is and is not responding well to helping you to modify future content accordingly.

Social media strategies cannot be uniform across companies and industries. No one solution fits all. However, more often than not, the application of these few tips has shown promising results in the past. 

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