Simply put, businesses need a social media strategy like plants need water. Social media has become a fundamental component of our lives, making it an imperative component of any company’s business and marketing plan. While many companies still question the ROI of using social media as an effective marketing tactic, others are obtaining great benefits from it. Here’s what you need to know.
Social media delivers
If you’re concerned with return on investment, a recent survey revealed that 52% of marketers have found a customer via Facebook, 36% of marketers have found a customer via Twitter, and 43% of marketers have found a customer via LinkedIn¹. However, it’s not as simple as just creating a page on these social media platforms. Achieving such results requires the development of a defined social media presence, which involves great strategy, commitment and creativity.
You must have a strategic plan
In order to develop an effective social media strategy, it’s imperative that you consider a number of factors including your target audience, the tool(s) in which you will be utilizing, as well as your overall business and marketing goals. All of these parameters will help determine the social media platforms that will be most effective, the type of content you should post and more.
Maintaining your strategy requires hard work
If you don’t have an employee dedicated to social media management, it can be rather challenging to maintain a valuable social media presence. A successful social media presence requires regularly posting content, engaging with followers and monitoring the landscape, all of which can be incredibly time consuming. Employing a social media agency to help source and create content, make posts on your behalf and relay important information can be a huge time and budget saver.
Social media can help your company
Social media can help your company achieve its business and marketing goals in a multitude of ways.
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- Generate brand awareness: If used appropriately, social media can help your company increase brand awareness. Certain content naturally produces higher levels of engagement and increases social sharing, so posting these types of content heightens your exposure to individuals not currently on your list of friends and followers. The logic being that as individuals like, share, re-tweet, or re-post your content, it extends your company brand to a wider network.
- Retain existing customers: According to research from TARP Worldwide, it is five times cheaper to keep an existing customer than it is to obtain a new one. Social media can help companies better manage existing relationships and retain customers by providing opportunities for customer service and public relations efforts. There is nothing your company can do to prevent social media users from commenting about a negative experience with your company online. But, with a proper social media monitoring strategy in place, you can quickly identify these individuals, potentially mend a damaged relationship and preserve your company’s name and reputation.
- Obtain new customers: As search engine algorithms evolve, they continue to consider an increasing number of factors when determining if a site is useful to a particular search and if it deserves prime realty on the results page. Social media can now significantly contribute to your company’s ranking on search engines for key terms and phrases associated with your business. If algorithms detect a keyword-rich company description along with high levels of positive social engagement and interaction, your ranking in search results could improve, increasing your company’s online visibility and providing opportunities to obtain new customers.
There are endless factors that contribute to the success of a social media strategy, and it requires constant monitoring and fine-tuning in order to achieve truly meaningful results. However, it is important for businesses to understand and take advantage of social media as an effective and absolutely necessary marketing tool.
Contact ZAG Interactive for more information about developing and maintaining a powerful social media strategy for your business.