As a business, you’ve likely set aside time to create a social media profile on at least one platform.
Now, with that squared done, you’ve moved on to more ‘important’ tasks in your marketing plan.
A social media post doesn’t make a difference in your bottom line, so it’s not a priority in your busy day. Sound familiar?
Like them or loathe them, social channels are a major presence in people’s lives today:
- There are 96 billion total social media users across all platforms.
- 43% of all internet users cite social media content as a major source of information on what to buy.
- And social media users overwhelmingly trust other users when it comes to product recommendations.
Here are even more reasons why it’s time to take your company’s social media platforms seriously.
Boosted Brand Awareness
It’s all about getting in front of your target audience. When you use a social network to its fullest capacity, your company will be seen by potential customers across the country. As they browse their feeds, they can interact directly with your brand.
It’s also common for people to learn about new brands from friends or influencers on social media, which increases traffic to your website where you can convert visitors into customers.
Better Customer Engagement
It’s Business 101: great communication with your consumers is key to closing a sale. Traditional marketing like print ads is a one-way street. Social media encourages two-way dialogue and offers unique ways to engage, such as liking posts or creating user-generated content.
When you take the time to post and interact with your audience, your audience comes to trust your company. This leads to higher customer engagement, which translates to increased sales. Customers who have enjoyed positive social media interactions with brands recommend the brand to social contacts at a rate of 71%.
Stronger Return on Investment (ROI)
Social media platforms are free to use, unlike other traditional advertising. And while social media marketing strategies do require some dedicated time to maintain, it requires fewer hours than other marketing projects overall. HubSpot reports that 84% of marketers were able to generate increased traffic with as little as six hours of effort spent on social media per week!
Social media also has the power to target your ideal customer far more efficiently when done correctly. Plus, social media advertising is inexpensive in comparison to other strategies. Small marketing budgets can go far with a strong social media campaign!
Deeper Connection with Millennials and Gen Z
Millennials (ages 26-41) and Gen Zers (up to age 25) are on track to be the dominant consumer groups in the country.
An Adobe study indicates that for 50% of Gen Z and 42% of Millennials, social media platforms are the advertising channel they find most relevant. Among consumers between 18 and 29, 49% admit to buying something in response to a social media ad.
Bottom line: if your target market is a younger audience, you need to develop a presence on the same social platforms they use.
Better Insight into your Competition
As mentioned earlier, social media channels are free for everyone to use, and that includes your competitors.
Social profiles are prime research for understanding how other businesses are marketing their wares. Take note of their social media presence and their customer base. Review their posts and types of content. Take note of user comments and their engagement rate; did the company answer, and could you answer their needs better?
Most importantly, take a look at their customer service: how do they respond to customer feedback?
Whether you adore social media sites or hate them with a passion, Facebook, Twitter, LinkedIn, Instagram, and other social channels offer incredible opportunities to connect with your target audience.
In today’s competitive world, smart business owners know that investing time, money, resources, and energy into a social media strategy is a must.
Looking for more guidance on how to build a strong social media marketing strategy to meet your business goals? Reach out to Elevato’s social media marketers!