Social MEDIA MARKETING: IS IT EFFECTIVE?

21-11-2022

Social Media Marketing: Is It Effective?

Introduction:

With extensive ongoing research on marketing tactics, social media marketing has emerged to be the most effective tool. So, if you are struggling with business growth and lead conversions, it is high time to utilize social media marketing services. Exploring social media marketing will not only provide a boost that your business needs but will also help you implore possibilities earlier unknown to you. It is mandatory for businesses of all sizes and types to adapt to changing times to stay relevant in their respective industries. Social media marketing is a tool to embrace this change. And if you are still wondering whether you should invest in it, you’re in just the right place. In this post, we will highlight the advantages of social media marketing and how it can help your business flourish in questionable times. 

Does social media marketing really work?

This is an open question for you as a reader. We have curated a list of pointers that describe the advantages of social media marketing. Hopefully, it will help you understand the potential of social media marketing for your business. 

Social media marketing – advantages for your business:

Here are the advantages of social media marketing services that make it totally worth the investment – 

  • Builds brand visibility:

More than half of the current 8 billion population is on social media. Among this, one-third of active users report checking their social media accounts five to six times a day. So, with social media, you get the chance to appear in front of your customers and prospects ample times each day! This increases your brand visibility, so, more people are aware of your brand and business. As a result, the bandwidth of your consumer base increases. You connect with more people than you could have done with traditional marketing. Although higher brand visibility does not straightaway guarantee increased lead conversions, it’s still a good point to start. Read the 2022 SMM statistics report by Hubspot. It will give you an insight into the potential of different social media platforms.

  • Builds brand awareness:

Your business social media profiles portray your brand logo and brand values. Hence, people who search for similar products and services will look up your profile. This increases your brand awareness. Moreover, when you post content related to your industry regularly, consumers look up to your brand. Your brand authority increases and brand value improves. This is especially so when industry leaders backlink to your website. It happens when you post quality content that enriches the reader’s knowledge. 

  • Increases website traffic:

One of the major advantages of social media marketing services is that it helps increase traffic to your website. It complements your SEO strategy. Social media marketing counts as a part of off-page SEO. By including your website link to a social media post, you prompt users to visit your website. A smooth landing page ensures users view your website and learn more about your brand and the products and services it offers.

  • Promotes engagement:

Nearly 82% of the global population looks for product recommendations on the Internet, specifically on social media. So, engaging with a wide range of audience ensures a higher chance of conversions. Social media marketing provides exclusive advantages like engaging with both your existing clients and those who may be interested in your product. Engagement with both clients and candidates allows the highlight of your products and services. Additionally, interacting with your customers at various stages of their product journey enables progress through the sales pipeline most of the time.

  • Boosts customer loyalty:

Multinational companies offer customer loyalty programs to build interpersonal relationships with their customers. While this is necessary for the long run, SMEs may not be able to afford customer loyalty programs. In this scenario, social media marketing offers advantages in terms of building a loyal consumer base and boosting customer loyalty. This is primarily because of the following reasons:
  • User-focused content helps customers make an informed choice. 
  • Customer reviews and testimonials serve as guidance for new customers. 
  • Review forms offer customers a place to express their views, advantages, and drawbacks about your services and products.
Customers value your business when they learn that their suggestions are taken into consideration. Modify and upgrade your products and services according to their feedback. This sparks their willingness to make another purchase.

  • Higher conversion rates and increased ROI:

Social media marketing offers advanced metric analysis. As a result, you get valuable insights for both your existing customers and hot leads. This enables you to group target audience members based on things like age, gender, activity level, choices, etc. This helps you personalize content according to their preferences. As a result, conversion rates from hot leads to sales are higher. Moreover, another important factor is consumer receptivity. Since social media provides interesting and easily understandable content, consumers are more receptive to brand ideas. Short videos or reels garner maximum engagement.   On average, the use of social media marketing services gives a return on ad investment (ROAI) of more than 25 times that of the initial expenditure.

  • Cost-effective:

Social media ads target specific user groups. You are in control of modulating these parameters. Different analytical tools give you demographic data. Hence, the amount you spend on ads focuses on promoting your content to consumers who are genuinely interested in your products and services. Tracking your results also help you know which campaigns are working for you and which ones aren’t. Accordingly, you can immediately stop the campaigns not giving a positive result and invest more in worthy campaigns. This helps in efficient budget management and reduces wasted ad spending. 

What is the success rate of social media marketing?

90% of marketers have gotten positive results in terms of brand exposure. 75% of businesses have gained increased website traffic through social media marketing. For more details on consumer reactions to social media marketing, read the statistics report by Review 42. 

Key takeaway:

Social media marketing is really the impetus for your business growth. Given the times, social media marketing adds stability to your business. But remember that it is not a one-size-fits-all approach. And, you have to be regularly involved in the process. To know more about how social media marketing can help your business, contact us. We Love Digital Marketing provides result-oriented social marketing services. Visit our website for more details. 

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