Today, social media is acting as a pivotal bridge between brands and customers. The mere fact that there are nearly 3.5 billion smartphone users in 2020 explains the vast and yet unexplored playground of social media marketing. With millennials steering the usage of social media to a whole new level, businesses need to look beyond their conventional marketing stints and come up with ways to engage the audience in a more convincing way.
With small businesses hesitating to dedicate a specific sum for marketing, advertising via social media can be the ideal way out in this scenario. And this is one of the primary reasons why 97% of marketers leverage social media to reach out to their target audience. Are you a business owner who’s wondering about the impact of social media marketing? This blog points out the importance of social media for today’s businesses.
- It paves the way for two-way engagement
Unlike conventional ads, wherein audiences remain spectators, social media ads can result in a two-way engagement platform. Brand owners can collaborate with their respective prospects, leading to better satisfaction at the end of the day. Besides, with customers sharing the brand product/services to their group or community, you get to grow your audience base without spending a dime on cold calls. According to a report by MarketingSherpa, 95% of adults aged between 18 and 34 are most likely to follow brands on social media.
- It makes it easier to gain attention and boost brand awareness
As simple as it may sound, businesses need to build a positive brand value to enhance their chances of sustaining in the highly competitive market space. While other marketing modes are pretty expensive, social media marketing provides an easier way to draw mass attention towards a brand. Besides, creating a business profile on social media inevitably boosts brand awareness among the general public.
- It is vast and has the best value for money
According to a report by Statista, nearly 3.6 billion people use social media marketing currently. These numbers are projected to increase to 4.41 billion within 2025. Leveraging such a marketing technique with a huge scope can yield better value for money than other marketing modes. Parallelly, there are numerous ways to market in social media, be it videos, images, links, etc. The Facebook network has nine million active advertisers in Q2 2020, with mobile accounting for 92% of its revenue.
- It helps brands build authenticity and authority
As the competition in the market increases, brands find increasingly challenging to build authenticity among customers. Build authoritativeness in social media can have a massive impact on businesses, especially in this digital era. Brands can engage with the audience in numerous ways that they may like, adapting different tones like informative, friendly, etc. Besides, with the right customer support team, brands can gain all-important authenticity among their prospects.
- It helps identify customer expectations and buying patterns
By making a presence in social media, brands get to understand what customers are expecting from them. This way, they can make informed business decisions rather than relying entirely on insights. Subsequently, with real-time data analytics, brands can identify customer patterns easily, narrowing down their search for the intended buyer-persona.
Now that you have identified the importance of social media marketing, it is time to take the all-important step of establishing your brand on social media. All you need is the right marketing agency to get started right away.