For some companies, social media appears to be simply the latest marketing trend that is a useful but temporary tool for executing marketing promotions and advertising. To others, it seems social media marketing is difficult to learn and offers no real benefits. We’re here to prove that social media advertising is a tool you should have in your digital marketing arsenal in 2017 and moving forward.
While it did appear relatively recently, social media advertising has already established itself as an extremely valuable, cost-effective marketing tool. According to Statistica, US companies spent 4.3 billion dollars in social media advertising in 2012, which nearly doubled to 8.2 billion dollars in 2014. They estimate that 24.6 billion dollars will be spent on social media in 2019.
Clearly, advertising through social media has proven to be effective in increasing sales, yet not many marketers understand the best ways to implement social media to improve their businesses. Our article explains some of the benefits of social media and some of the best tools and practices in executing social media.
Each opportunity you improve visibility and increase recognition of your company’s brand is valuable. Social media channels are an excellent way to present your brand’s voice and content. It makes you more accessible to new customers and more familiar to current ones. For example, a Twitter user could hear about your company for the first time only after seeing it in a Tweet. A neutral customer might be more likely to choose your brand simply by seeing on multiple social media.
According to a study published by Texas Tech University, brands who engage on social media channels receive more loyalty from their customers. Other studies have found that over half of Americans who follow brands through social media are much more loyal to those brands. When all else is equal, they are much more likely to select a particular brand of candy, beer, or car when they’ve improved their brand loyalty.
Every time you post something on social media, you have an opportunity to convert a customer. Whether you are posting a blog, image, or video, you provide your customers, both old and new, an opportunity to react. This could lead to a site visit, completion of a form, or a decision to purchase. Not every social media post will result in a conversion, but the more positive reactions you have, the more likely it will result in a conversion. The sheer volume of opportunities to react on social media increases the likelihood of a desired response.
Studies on advertising on social media have shown that it results in higher conversion rates. One reason is because on social media, brands can become more “humanized”, and people prefer to do business with people rather than businesses. Other studies have shown that social media has a 100% higher lead-to-close rate than traditional marketing. Companies who advertise on social media are more likely to develop credibility and trust among their followers, important in leading to that final sale.
Without social media, your incoming traffic is limited to those who are already familiar with your brand and who happen to be searching for keywords you rank for. Each social media profile you add becomes another way to lead back to your website. With more high-quality content placed on social media, you’ll bring more incoming traffic to your site, which will ultimately lead to more leads and more sales.
According to a study by Hubspot, 84% of marketers found as little as six hours of effort per week was enough to generate increased traffic. Think about that, devoting just one hour per day to develop your content and sales strategy would result in measurable results. While paid advertising on social media is relatively inexpensive, starting out simple requires little investment. When you start seeing results, you might want to increase your budget and pay for pay-per-click advertising.
SEO is the best way to obtain relevant search engine traffic. At one time, having an SEO strategy of updating blogs, using keywords, having links, and optimizing title tags and meta descriptions was enough. Today, major search engines not only base their rankings on your website but also take into account your social media presence. It is well-known that strong brands use more social media, so increased use of social media will also provide a signal to the search engines that your brand is legitimate and trustworthy. In other words, if you want to rank for certain keywords, having a strong social media presence is essential.
While advertising on social media is simply another way to interact with your customers like an email or phone call, it has the potential of providing a richer customer experience because you are able to demonstrate your level of customer service and establish a direct relationship with your customers. For example, if a customer complains about your product or service on Twitter, you have an opportunity to immediately address the comment and take appropriate action. On the other hand, if a customer compliments you, and you respond, this reinforces the idea that you care about them.
One of the most valuable rewards of using social media is that it gives you a chance to gain powerful insights about your customers’ interests, behaviors, and buying patterns. Information from social media can be segmented into customers with specific demographics or areas of interest. This allows you to produce more content geared toward each segment. It also helps you decide which media channels are most effective so that you can generate the perfect media mix to maximize your revenue.
Because of the close relationship between branding, SEO, social media posts, measuring conversions, and utilizing feedback from social media, it is extremely important that the agency you select for social media advertising has the ability to provide all of these services. POGO Marketing offers the entire package of social media advertising services and customizes them to both your needs and budget. Contact us today and get started with a social media advertising strategy.