Improving Digital Presence By Leveraging Benefits Of Social Media Marketing
There are several different marketing strategies that businesses use, but there is one that consumers face every day through advertising on social media. Social media marketing spending is estimated to reach and skyrocket in the United States alone, with Statista forecasting spending to exceed $56 billion by 2022 (that's an increase of almost $10 billion dollars from 2020!). Social media critically plays a key role in connecting consumers with brands, building brand awareness, building customer relationships, and stimulating online sales.
Social networks are an integral part of any marketing strategy today, and the benefits of using social media are so great that anyone who doesn't use this cost-effective resource is missing out on a great and robust marketing chance. It is seamless to see that social media marketing is a core element for digital marketing success, and many marketers now understand the potential for business growth with the platform. However, some of these experts are unsure what tactics to use and whether they are effective.
According to the Social Media Examiner, around 96% of marketers are currently engaged in social media marketing, but 85% of participants are unsure which tool is the best. We will help you clear up the confusion by detailing the benefits of using social media to market your business.
Benefits of social media advertising:
1. Brand awareness increase:
Social media is one of the effective digital marketing methods to promote content and boost your company's visibility. Developing & implementing a social media strategy will significantly increase your awareness of the brand as you will be connecting with a wide audience of users. First, create a social media account for your company and start interacting with other people. Let employees, business partners and sponsors "like" and "share" your page. Only interacting with your content will increase brand awareness and build your reputation as a company. Every post you share is served on a network of new people, which can turn them into potential customers and the more people who know about your business, the better. No doubt, just having a social media page will benefit your brand and, with regular use, can generate a wide audience for your business.
2. More incoming traffic:
Without promoting your business on social media, your inbound traffic will reach your potential customers. People who know about your brand likely looking for the same keywords you're already ranking for. Without utilizing social media as an element of your marketing strategy, you'll have difficulty reaching someone outside of your loyal customer base. Every social media account you add to your marketing list is a portal to your website, and any content you post is another way to get new customers. Social media is a mix of different types of people with different backgrounds and behaviours. If you syndicate your content across as many platforms as possible, these people can reach your company organically. For example, maybe an older demographic of users searched for your website with certain keywords on Facebook, but Millennials could start their search with a completely different social media platform because they search for products very differently. Social media marketing can effectively open up your business to more flexible users around the world.
3. Improved search engine ranking:
While posting on social media can bring website traffic to your business, it takes more effort to achieve significant success. SEO is very crucial to get a higher page rank and drive traffic to your company website. While social media does not directly increase search engine rankings, the HubSpot notes that more than 64% of marketers who have used social media for a year or more still see a boost in their search engine rankings. Being critically able to rank at the top of SERP on keywords will revolutionize traffic and bring positive output for the business.
Let's face it, everyone uses Google to search for information and probably won't go through page 1 because their answers are usually on the first page of results. If your company's website is not in the top rankings of search engine results, you may need to change your search engine optimization strategy. Create quality content that incorporates your target keywords for the best chance of ranking better on social media. Content like blogs, articles, Infographics, case studies, business intelligence, and office celebration photos make your social media business profile attractive and trustworthy. Once you start posting quality content, build a social media community where followers will "like" and "share" your content. Most importantly, you'll have more opportunities to meet industry influencers who write about your business and provide backlinks - which will directly help improve search engine rankings.
4. Higher conversion rate:
With increased visibility, your company has more options for the conversion. Any blog post, image, video or comment can drive viewers to your business website and increase traffic. Social media marketing allows your company to make a positive impression through the human factor. When brands are interactive, share content, comment and post status on social media, they embody a brand. The better you impress your visitors, the more likely they think of your business when a product or service need arises. According to optinmonster, social media has a 100% higher closing rate than outbound marketing. Often, when a brand is interactive online, consumers who follow your brand account begin to trust their company more. People who utilize social media platforms to be in touch with their friends, family and community. Since people are already talking about it, why not put your brand in it? They are more likely to mention your brand to friends when you need your product or service, which generally provides your business with social proof of its quality. According to the HubSpot, about 66% of marketers see the benefits of generating leads through social media platforms for at least 6 hours a week. Bringing your brand into an atmosphere where people share, like, and talk can only increase the conversion rate of your existing traffic.
5. Better customer satisfaction:
Social media is a networking and a great platform for creating communication. Creating a voice for your company through this platform is essential to humanizing your company. Customers love to know about your product and services; when they post a comment on your page, they will get a personalized response compared to an automated message. Being able to confirm each comment shows that you care about the needs of your visitors and offer the best experience.
Every interaction with a customer on your company's social media accounts is an opportunity to show your compassion for your customers publicly. Whether someone has a question or complaint, social media allows you to solve problems through interpersonal communication. A brand committed to customer satisfaction, which takes the time to write a personal message, is inherently positive even when responding to customer complaints.
6. Improved Brand Loyalty:
One of the main aims of almost any business is to build a loyal customer base. Since customer satisfaction and brand loyalty tend to go hand in hand, it's important to always be in touch with consumers. Social media is not limited to showcasing your brand's products and advertising campaigns. Customers see this platform as a channel to service through which they can communicate with the company directly. Millennials are considered the most loyal customers of the brand. Millennials born between the early 1980s and early 2000s are the largest generation in US history and have not entered the market. Surveys made by inc.com show that this customer segment is 62% more loyal to brands they interact with on social media. Because these tech natives need to communicate with their brands, businesses need to use social media marketing to attract customers.
7. More brand credibility:
Customer satisfaction & brand loyalty plays a critical role in increasing your company's credibility, but it all depends on communication. When users see your business posts on social media, especially by replying to customers and posting original content, you will appear more credible. Regular customer engagement shows that your company cares about customer satisfaction and can answer any questions you may have. Happy end-users are eager to spread the word about a great product or service and usually turn to social media to give their opinion. When customers mention your company on social media, your business will be promoted, and new visitors will be shown the value and credibility of your brand. Once you have a few happy customers sharing their positive buying experiences, you can run your ads by real customers who like your product or service.
8. Cost-Effective:
Social media marketing is indeed the cost-effective process of marketing strategy. Signing up and creating an account is free on almost any social networking platform. Any paid promotions you are looking forward to investing in are relatively inexpensive compared to other marketing tactics. Being profitable is one of those benefits as you can get a higher return on investment and save a bigger budget on marketing and other business expenses. When you choose to do paid social media advertising, always start small to see what to expect. When you feel more comfortable, refine your strategy and try to increase your budget. You can only significantly increase your conversion rate with minimal time and money and ultimately achieve a return on investment for the money initially invested.
9. Get Marketplace Insights:
One of the most important benefits of social media is market knowledge. What's a better way to get to know your users' thoughts and needs than by talking to them directly? By monitoring activity on your account, you can see customer interests and opinions that you might not have known if your business didn't have a social media presence. Using social media as a growth tool can help you obtain information that will help you understand your industry. Once you get a great following, you can use additional tools to analyze the demographics of your users. Another enlightening aspect of social media marketing is segmenting your content distribution lists by topic and determining which content types generate the most impressions. These tools allow you to measure conversions based on posts on various social media platforms to find the perfect revenue-generating combination.
10. Nurturing leadership:
Posting creative and well-written content on social media is a perfect way to attract users and become an expert in social media marketing. There is no single way to become a thought leader - it takes work that online networking tools can support. To establish yourself as an expert, make sure to use social media platforms and expand your presence. Be communicative, connect with your audience, share content, and develop your authority. Your skills will be highlighted when your social media campaigns align with other marketing efforts, and followers will see you. Interacting directly with customers creates a relationship that they will appreciate and allows you to become an influential organization.
How can you improve your social media advertising strategy?
Do the research and collect data:
Social media analytics provides valuable information related to how people interact with organic and paid company posts. It also gives you information about the types of people who are most engaged in your ad. Use analytics tools to understand better the shoppers interacting with your ads so you can better filter up the target audience to reach the exact people you're most likely to engage.
Measuring what types of social media posts perform best and what time your audience is online can help you boost reach and engagement. Using social media to track key performance metrics (KPIs) will help you identify accurate data to meet your marketing efforts. You'll better understand the different audiences on each platform and develop ways to reach them in the future. Also, check keywords and mentions to see what your audience is talking about. Search for hash tags and hot research topics to inspire your next social media ad campaign.
You may also collect and analyze user-generated content to engage with customers and respond to customer complaints or general comments. When you understand what customers are posting and sharing, the marketing team can develop a content strategy that engages your audience and addresses their concerns.
Create Shareable Content:
Post creative and original content on your social media accounts and promote it through paid advertising to increase visibility and conversions. Content creation helps businesses drive traffic and drive relevant visitors to their websites. We recommend making the content that is targeted at every stage of the buyer journey.
For example, the top of the funnel content attracts a wider audience and corresponds to the awareness stage of the marketing funnel. Top funnel content includes educational or entertainment content that will make customers aware of your brand. If you can get their email address here, it will be easier to feed them funnel content and simplify the buying process.
Amid the funnel content, manage a smaller and higher-quality segment of your audience and align it with the consideration phase of the marketing funnel. This type of content should demonstrate your brand expertise and help differentiate your brand from the competition.
Finally, the bottom of the funnel content is aligned with the decision-making phase of the marketing funnel. Buyers are primarily focused on branding at this stage and are looking for information about what value your solution will bring to them. It's about creating content that sets your business apart from the competition and improves your overall ecommerce marketing strategy.
If you are looking forward to have your personalized social media strategy for organization, then we would love to hear from your side. Digital Strategists at Katalyst are always ready to assist so that your business can achieve higher growth in this tech-driven market.
