Time to make the Transition?
Social Media has changed everything. Its reinvented the way we communicate, revolutionized public access to information, and – more relevantly – has leveled the playing-field for small and big businesses alike.
How you ask? Well, one of the hardest decisions any business owner has to make is how to market their products. Social media has now become one of the most popular places for businesses to market – and it has some marked benefits that make it no surprise.
As little as 30 years ago, mass media ruled supreme – with very large companies with very deep pockets being an insurmountable force. With the conception of social media, the playing field has somewhat evened.
Social media marketing is way less expensive. The prices paid and resources lost is fractional in comparison to traditional media’s (such as TV and radio). This is all down to the Cost-Per-Thousand Impressions (CPM) being as low as £2.50, as opposed to TV – usually averaging around the value of £22.
Metrics represent something tangible, physical and traceable. Its fundamental to running an adapting business – one such business that is honing their strategies in an ever-evolving corporate landscape.
Social media – as opposed to traditional media – provides rich metric data, perfect for adaptation in the acquisition of business intelligence. Websites such as Twitter and Facebook provide a digital analytics dashboard, allowing for the tracking of said data in real time. Everything from the time of day impressions were made, to click-through rates, to age demographics to geographical information; This provides any business with imperative actionable information.
Think of traditional marketing strategies like firing a shotgun: Its spread is huge, but they still remain very inaccurate – meaning less of a chance of hitting your target.
Social media websites represent the biggest collection of personal information on the planet. With the knowledge of everything from favorite foods to professions, from location to age, this becomes a very important utility in the targeting of specific customers.
Websites such as Facebook provide Ad-targeting services, allowing businesses to hone-In on the correct demographics with laser precision. You can fire advertisements with the guarantee that its reaching the correct demographic.
Remember that the market is one that changes on a dime. In order to stay competitive, smaller companies need to remain agile, adaptable and accurately targeting the correct demographics of people.
Traditional marketing campaigns remain longer setting up processes, with a lot more pre-production involved. This means that typically, advertising campaigns are set up quarterly, and remain unchanged throughout.
Because of the speed of social media advertising, you are able to quickly remove and place different types of ads to take advantage of the changing corporate landscape. Are there specific trends you want to take advantage of? Maybe a part of your campaign has become inappropriate in light of recent events? Now you have the chance to adapt.
Feedback and Trust
Social media marketing is a two-way street. You are able to actually hear back from your customers, and engage in an open dialogue with the people you are trying to connect with. Having this open dialogue allows us to carve out a particular image for your business, cultivating trust over time.
This gives the consumer ample opportunity to ask questions, and learn everything they need to know about a product before purchasing. This level of transparency can be the catalyst of a flourishing consumer-to-business relationship.
But there’s one big drawback…
Maintaining a presence on social media is a painstaking, time consuming process. Consistently keeping up to date with comments, producing new content and maintaining interaction is a full-time job – with one mistake being potentially image destroying.
This is where we could help. We have a deep network of veteran marketers that are readily available to help define your goals, and implement the perfect strategy to make your product way more profitable.
Come visit us and take your first steps towards a social media marketing transition.
Author: Ryan Southall