Is Social Media the New Face of Advertising?
Nowadays, social media marketing is considered the “next big thing” and with good reason.
While first passed off as nothing more than a fleeting marketing fad, statistics however prove otherwise.
According to a Hubspot report, in 2014, an impressive 92 percent of marketers acknowledged the important role social media marketing played in their advertising campaigns. Eighty percent of the respondents also reported an increase in their website traffic.
Also, a Social Media Examiner report indicated that 97 percent of marketers today have integrated social media in their marketing campaigns, cementing its reputation as a force to be reckoned with when it comes to advertising.
Below are some of impressive ways social media marketing can help businesses:
Enhanced Brand Recognition
Every chance to increase visibility and syndicate content is considered crucial.
Fortunately, social media networks provide the ideal venue where brands can showcase both their content and voice.
In other words, social media makes it easier for customers and prospects to connect with brands and gain access to them.
For instance, a Twitter user might discover your brand through the news feed or a prospect might become interested (and more acquainted) in your brand if they get easy access through multiple social marketing channels.
Improved Brand Loyalty
A report by Texas Tech University indicated that brands that engage customers through social media channels get to enjoy higher patron loyalty.
The report also highlights the advantages social media provides for those brands who want to successfully and effectively connect with their audience.
Given that an open and strategic social media plan is in place, it is a lot easier for brands to convert customers into loyal patrons.
In addition, a study by Convince & Convert indicated that 53 percent of Americans who follow their favorite brands online become more loyal to the brand.
Higher Rates of Conversion
One of the most significant features of social media marketing is its ability to humanize brands.
Social media gives brands the perfect venue where they can act like people do.
This is highly important because it will make the brand more relatable, making customers feel like they are dealing with another human being, instead of a company.
In addition, social media has a lead-to-close rate that is 100 percent higher compared to outbound marketing.
A high number of social media followers can also dramatically improve credibility and brand trust, resulting in better conversion rates.
Improved Inbound Traffic
Sans social media, inbound traffic will be limited to individuals searching for keywords the brand rank for and the people already familiar with the brand.
With social media however, every profile and content syndicated can help bring in new visitors and prospects.
The more quality content syndicated, the higher chances there are of generating more inbound traffic.
That’s awesome news as more inbound traffic will always translate to new leads, and yes, likely conversions.
Reduced Marketing Cost
According to a Hubspot report, 84 percent of marketers noticed increased traffic with as little as 6 hours of social media effort each week.
While 6 hours is not exactly significant yet it already showed considerable promise, imagine what you can accomplish with an hour of social media daily.
Even paid advertising on Facebook or Twitter is considered cheap, considering all it offers and is capable of accomplishing.
As a general rule of thumb, it would be ideal to start small so you don’t have to worry about going over the marketing budget you’ve set.
Once you get a better feel of the campaign, you can increase both your budget and conversions accordingly.