If you own a small business and aren’t actively using social media marketing, you’re leaving a lot of money on the table. This is because, in spite of the fact that some business owners consider social media advertising a fad, lots of firms and organizations are reaping huge benefits from consistently and actively using social media advertising.
Studies by eMarketer, a leading market research and consulting firm, showed more than over 35 percent of the American adult populace with a social media account – that’s over 80 million people – used the social media platforms for their product and service research before making a purchase or hiring a service.
This means that if someone was looking for businesses in your industry and your business was talked about in favorable terms, chances are that they might have gone with your business. The advantages of advertising on social media platforms are huge:
Cheaper Advertising Costs
Advertising on social media platforms are nowhere near as expensive as doing the same on pay per click advertising platforms. You can often pay a fraction of the costs particularly if you were to accurately identify your target demography and select them alone to see your ads.
If you decide to go the free route, you can also save a lot of money on advertising. In fact, if you are patient and able to consistently share epic content, you will be amazed at just how many people are going to identify with your brand, hire your service and buy your products.
Faster Brand Recognition
Building your brand is not a small feat. It can also be very expensive if you were to use traditional marketing mediums too. However, because of repeated exposure and relatively cheaper costs, it is easier for people to identify your brand after a few exposures.
It’s often easier to access new customers and stay in the minds of existing buyers using social media marketing through the use of multiple social media platforms.
Enhances Brand Loyalty
Multiple studies have shown that companies with a significant presence on social media platforms tend to enjoy more loyalty from their customers and clients when compared to other firms who don’t use social media as much.
This is not surprising seeing as social media provides the opportunity for brands to continually interact with their audience and forge a bond with them.
Possibly Higher Conversion Rates
In marketing, we know that people sometimes need to be exposed to a product or service at least 7 times before they even take notice of that product or service.
Social media advertising helps make this easier through the use of technologies like retargeting and consistent feed updates. In fact, studies have shown that social media advertising has a 100 percent conversion rate compared to other outbound marketing efforts.
Now, we’re not saying that you should spam other people’s feeds. That would be in bad form. But consistent feed updates and postings – preferably 2-5 times a day – in the form of images, blog posts, videos, podcasts, and articles, will increase your chances of getting more people to visit your website and eventually go on to take some sort of action there.
Enhanced Insight into Customer Behavior and Desires
It’s now easier for brands and organizations to have some insight into what their target audiences desire.
In fact, with a quick poll, contest, Q&A and survey, brands can quickly find out what products their customers want to see more of, those they don’t like and why they don’t. Brands can then use this information to improve on their products, roll out new products, beta test their new products and drum up far more business in the process.
Social media advertising can be a gold mine for businesses who know how to use it. If you don’t know how to maximize social media advertising and need help, you should get in touch with social media experts at Kreativa. They’ll help create an effective social media campaign for your business that is bound to generate significant ROI.