There is no stopping growth for social media. As social media channels are evolving every year. New platforms are being introduced that are making more users sign up for social media. Several businesses are achieving huge growth through these portals. When we see all these trends, we often ask ourselves “Why social media marketing is important?”
Social media doesn’t limit just by providing information, it helps to network with a vast audience. This has given rise to influencers, social media marketing companies, and social media tools.
This has benefited brands, as they can easily reach out to their relevant target audience and scale revenues. There are multiple case studies where companies have increased their sales using social media marketing. This proves that social media marketing is important for small-scale to large-scale businesses.
It is not just that businesses are making money, even the social media companies are earning huge. This creates a Win-Win situation for everyone. First the end-users, then social media companies and businesses who are going to reap rewards.
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What is social media marketing?
The process of a series of advertisements that are promoted by a company on a social media channel is called social media marketing. The ads can be based on different visual formats – image, video and text-based.
The motive of social media marketing depends upon the company. Because there are diverse goals and objectives that can be achieved by a company through social media marketing.
Some of the verticals that companies can achieve through social media marketing are brand awareness, increasing sales, and engaging with their audience.
Brand awareness is suited for businesses that have entered the market recently. The purpose can also be for if they are introducing a new product that will be helpful for the audience. The social media platform is an excellent way to create brand awareness for the above purpose.
When your brand gets the required exposure, they automatically turn into customers. You can directly choose which products or services that you want to offer them. This is one of the best ways to scale revenues through the social media platform.
If any company wants to interact with its audience by listening to their thoughts and opinions, social media channels are a perfect way. Because various brands are actively engaging with their followers to understand their expectations from a product or service. This helps companies to improvise their product features and create value for their customers.
Why is it important for a company to market on social media?
When you can find the majority of people are active on social media, it is important for every business to utilize this opportunity. Irrespective of goals, whether it is for brand awareness or increasing sales. Investing in social media marketing is a much-required strategy for businesses to scale growth.
The power of social media is immense. You can’t predict whether your marketing campaign can go viral and reach people across verticals. This is something that companies would not like to miss out on an excellent opportunity to improve their business.
Let us now understand each of its benefits for why social media marketing is important for the company.
1. Explore untapped market
As you can find people from across regions, language and locations. There are billions of people who are actively engaging on social media platform. People can belong to any group. Irrespective of their caste, creed, ethnicity, or colour. Social media is not biassed towards anyone.
This gives the best opportunity for companies to explore untapped markets. Because even the businesses won’t be having an idea that they could reach such an audience. As the scenarios in social media marketing are completely unpredictable.
Companies can easily explore the untapped market through well-planned social strategies. Because every campaign can respond differently. It is important for companies to use a variety of ad campaigns to reach the untapped market.
This has been found resourceful by several brands. As they could easily scale their growth through social media platforms. It all lies in the goals and objectives that the businesses are going to set. And this correlates to the ad campaigns that they are going to execute. Everything should be perfectly aligned to get better results.
2. You can build followers and audience for your brand
Social media is the best place for you to build followers and an audience for your brand. When you are offering products and services to the audience that matters, this helps to bridge the gap between unknown users to known users. They instantly connect with your brand and they will automatically turn to a follower.
The best way to reach relevant followers and audiences would be by connecting with the right people. As social media channels have introduced an advanced platform for marketers, you can easily reach out to the relevant group.
Let us assume that your business is all about health and fitness products. You need to run advertising marketing campaigns that are relevant to the particular niche. You can target based on their interest level, demographic, geographical factors, and so on.
Ensure that all your campaign objectives and the promotional activities that you are going to execute should relate to each other. Through this technique, you can quickly build followers and an audience for your brand.
3. Achieve big by investing small
If we compare the costs between traditional marketing and social media, the cost incurred on social media is very less. It’s not only about the cost. When we compare the data effectiveness between traditional and social media, these channels have an upper hand. This not only makes it cost-effective but also result-oriented.
Several brands are cutting down costs on traditional media and are investing solely in social media. Because they are finding high ROI through social media advertising. This has become an essential part of every business, whether it can be a B2B or B2C company.
With the help of advanced social media tools and analytics, your work of advertising on social media gets easier.
But you need to have the right kind of strategy planned for your business. Depending upon the products or services that you are going to offer, it should be engaging enough for the end-users. Only through this, you can achieve better results with a limited ad budget.
4. Get traffic for a website
Social media is the best platform to get traffic for your website. There are two ways of getting traffic, one is organic and another is an inorganic method. The organic approach involves a non-paid ads budget. Whatever you post that doesn’t require any amount to promote, is known as an organic way of advertising. Inorganic way of advertising requires the budget to reach a wide group of people.
Both strategies have their own benefits. If your company has a budget to reach a larger group, then an inorganic way of advertising would be ideal. When your company objective is to regularly interact with your audience and frequently make them aware of your product or service, then an organic way of advertising is suited for this type.
Getting traffic for a website is crucial for any online business. Because through the traffic, you will be able to sell the product or service which you want to target your customers. This has helped several businesses to get relevant traffic and scale revenue through it.
5. Social media promotion influences your search ranking
This process can be based on a direct or indirect approach. Because Google and other search engines have suggested that social signals are one of the important factors for a website to rank on search engines. When we are considering this circumstance, each business needs to take an active role in social media.
One of the social signals that your brand is going to achieve through social media is link posting. When you regularly post the links of your web pages on social media channels, the search engine crawler starts to notice it. And when they find out that your links have been extensively promoted on social media channels. It influences your search ranking position.
As Google has more than hundreds of parameters for a website to rank. Social media signals are one of the best ways to achieve better backlinks as well as improving search engine results.
Social media not only helps in ranking your website but also boosts your domain authority and page authority score of your website. These are some of the important KPI for social media marketing campaigns.
6. Generate sales
This is one of the primary objectives of a business. Because revenue is everything. And when the companies find out that there is huge potential of advertising on social media. Then there is nothing stopping them from promoting on these platforms.
If your business is into e-commerce, social media marketing is one of the best ways to get effective results. Because e-commerce companies focus on the B2C segment, social media channels are the perfect way to achieve your goals.
As you can find a huge group of audience who are actively searching for products. Your business can enter into the scenario and pitch it to them. Through this technique, it is convenient for any business to generate sales and scale their revenue.
It is not just that only product companies are going to make money through social media. If your business is selling services that are helpful for consumers, social media marketing is the best way to get the targeted users.
7. Facilitate customer service
Did you know that many businesses are using social media platforms as customer service platforms? You heard it right. Businesses are heavily relying on social media to facilitate their customer support team. Because every other day, you can see people complaining about the faults in the product or service, social media is the best platform to engage with them.
This helps to build credibility amongst other consumers as well as your brand. This shows that your company is serious about customer’s opinions and thoughts.
Customer service is important for every business. It is not just selling a product to a customer and your work gets over. You need to maintain the customer for life long. For this to happen, you need to have an excellent platform for customer service.
When you can regularly engage with your audience, hear their opinions and take feedback. This makes them get connected more closely to your brand. This also helps in developing brand loyalty that is essential for today’s business. You can even share insights, trends, and your latest offerings to keep them regularly engaged.
How to do social media marketing?
Building your social presence in 2021 is crucial for every business. To connect with the audience effectively for increasing brand awareness, sales, and gaining traffic, you need to have a social media marketing strategy.
Let us understand briefly, what are the steps to be taken for social media marketing.
1. You need to set goals and objectives for social media promotion.
2. Based on the goals, you need to define the buyer persona for your brand.
3. Next is you need to do a competitor’s analysis and generate data.
4. You can use multiple social media tools to understand your industry for running better ads.
5. Decide what social media channel you want to promote for your business.
6. Regularly monitor and track your campaign performance. This can help you to optimize it for the better.
These are just a brief description of how to do social media marketing. You can read in detail about the social media marketing campaign.
Conclusion
Social media marketing is the best way to interact with your customer, get feedback and improvise your service. It helps to boost Your brand exposure and as well improve engagement with your target audience.
No doubt that social media marketing is important for every business. Whether it can be a B2B or B2C. You are going to get better results which is for sure. But for this to happen, you need to have the perfect strategies for online promotion. Many marketers fail in achieving this step and then easily give up when they don’t find good results.
Numerous brands have found that social media has heavily influenced their revenue and sales. You can be one amongst them. Just get all the activities and resources aligned to your company goals and objectives.
Let me know for what purpose you would use social media marketing.
Further, read:
What is social media advertising?
What is social media campaign?