There are 4.8 billion social media users worldwide. In percentage terms, it translates to 59.9% of the total global population and 92.7% of all Internet users. Social media marketing involves targeting your audience in the vast realm of social media, promoting your product or services to them, and selling. Its evolution is also no less dramatic. From the 80s, and 90s fledgling social media platform Myspace to contemporary TikTok or FaceBook, a tactonic change has taken place in person-to-person communication.
Social media has seen such rapid expansion because it facilitates people’s inherent demand-making contact with friends or family members. Leveraging its enormous ability to reach numerous contacts, digital marketers started a new digital marketing approach- social media marketing, along with other approaches like SEO, content marketing, and PPC. This post will cover Unlocking Business Success through social media marketing.
The Impact of Social Media on Business Growth
Digital marketing is becoming a new normal in the business world.In this reality, social media has quite a significant impact on the changing business landscape. Social networks can influence business in the following ways:
Increased Brand visibility
Have you ever noticed that whenever a city street in a country is shown on a television channel, you are likely to see an advertisement of Coca-Cola beside the street? It is a good example of brand visibility. The company Coca-Cola spends a good amount of marketing budget to set up the advertisement billboard beside the street. The billboard is seen by local consumers as well as foreigners on television. So brand visibility is the maximum exposure of your brand by all means whether it by television commercials, print media, billboards, or of course, omnipresent social media.
Leveraging Social Media Platforms for Maximum Exposure
Social media is an amazing place to reach your target audience by posting and sharing content that is important and relevant to them. Since many people have a sharing tendency, sharing your content within your audience will push your content in front of a wider audience. The utilization of influencer marketers is also at your disposal. They have a large audience to disseminate your brand’s message.
Building a Strong Online Presence
Building a strong online presence is possible by posting valuable, and engaging content for your target audience. In addition, social media like Facebook enable you direct communication with your customers. You can reply to a query, or receive feedback in real time. This direct communication with your customers certainly boosts your trust among customers which will ultimately increase your sales. Establishing a firm online presence is indispensable since billions of people spend a hack of time on social media. If they don’t find you there, they will go elsewhere.
Enhanced Customer Engagement
Engagement with customers has reached a new height thanks to the power of social media’s communication channels. A brand’s reputation, customer retention, and business’s overall success depend on enhanced customer engagement, How social media helps brands to engage with customers more closely are
Real-time Interaction with Customers
Social media allows marketers to interact with customers in real time which is unthinkable in traditional marketing. In traditional marketing, marketers rely on advertisements. In this approach, companies cannot make direct communication with the customers. However, things turn a dramatic turn when it comes about social media marketing, Here, by using different avenues, customers can ask a question about a problem or leave a comment. These all can happen in real-time. Direct communication enhances trust between customers and businesses. And, there is no alternative to trust for business to survive and thrive.
Precision in Audience Targeting
By utilizing social media analytics, you can analyze data like users demographic, interest, and behaviors. These data will help identifying your audience with much precision. Finding your audience that is relevant to your business and conveying your business message to them is essential for better conversion rates. The way social media can help you to reach your audience is not possible by traditional marketing approach.
Cost efficiency and better ROI
Running an Ad on a social media platform like Facebook requires $1.00 to $ 500. However, depending on the advertisement budget, it could also be as high as $3000. But comparing television advertisements, this amount is far below. Running a 30-second television commercials on a national level channel requires more than $100,000. Apart from the advertising budget, the social media Ad campaigns are quite effective since they appear in the right audience, at the right moment leading to good conversion rates. Traditional marketing campaigns cover a broad audience. But there is no guarantee that a significant number of customers would convert.
Social Media as a Business Growth Tool
Since each business is unique, operating in its niche, the term ” business growth” is somewhat ambiguous. However, expansion of customer base, increase in revenue earning, and market share indicates that a business is growing. Social media plays a significant role in reaching existing or new customers, and generating revenue. In short, social media becomes an indispensable business strategy in today’s era of digital marketing.
The Future of Social Media Marketing
While predicting a future is difficult, however, based on peoples behavior. anticipating a few changes is possible. Replacement of text content by videos is highly probable. Social media platforms like TikTok, Snapchat, and Instagram are already inclined to more videos than text content.
Social media’s dominance in the marketing world will not ebb. Rather, joining hands with AI, it will become more essential for business. So no business cannot afford to lose the bandwagon of social media marketing.