At present, it is impossible to live happily without social media. Social websites and applications have become an integral part of our lives. Globally, there are more than 3 billion social media users.
Social media is a relatively new technology and crucial part of any digital marketing strategy. This is computer-based technology that facilitates the sharing of ideas, thoughts, and information through the building of virtual networks and communities.
By design, social media is internet-based and gives users quick electronic communication of content. The importance of social media for your business can enhance your brand equity and trust in people.
The Most Popular Social Media Platforms
According to survey in 2020, the most popular platform was YouTube and Facebook which is used all over the world. Below are the stats Top 15 Social Media Platforms included in the survey:
- Facebook– 2.60 Billion Monthly Active Users
- YouTube– 2 Billion Monthly Active Users
- WhatsApp– 1.6 Billion Monthly Active Users
- Messenger – 1.3 Billion Monthly Active Users
- Instagram– 1 Billion Monthly Active Users
- Tumblr – 437 Million Monthly Active Users
- Reddit: 430 Million Monthly Active Users
- Twitter – 330 Million Monthly Active Users)
- LinkedIn – 303 Million Monthly Active Users
- Snapchat – 287 Million Monthly Active Users
- Viber – 260 Million Monthly Active Users
- Pinterest – 250 Million Monthly Active Users
- Telegram – 200 Million Monthly Active Users
- Medium – 60 Million Monthly Active Users
What is Social Media Marketing?
Social media marketing is the use of social media platforms to connect with your audience to build your brand, increase sales, and drive website traffic.
Social media marketing is the process of promoting your business to potential customers through social media platforms which leads to build your brand, drive website traffic, and increase sales.
Social media marketing can further be subdivided into two main forms: social media management and social media advertising. There is some overlap between these methods, but each focuses on different objectives.
If you are a business owner or newbie for social media marketing, it is important that you understand the difference between social media management and social media advertising.
People also think it as part of Social network marketing. Anytime a business uses social media, it could be considered as form of social network marketing.
Difference between Social Media Marketing and Social Media Advertisement
Social media management is the process of creating, publishing, promoting, and managing content across social media channels. All actions you take are unpaid. This is a building block component of social media marketing. The goal of this function is to reach your target audience and build trust through posting engaging content.
If you’re posting about your blogs, sharing info with your followers, or commenting in social media groups, you’re marketing.
The essence of sharing post over social media to engage people with your content are more likely to do business. Users engagement represents positive reactions that people have when they see your brand, and at high frequencies, it builds undeniable trust in your business.
Social media advertising is the process of advertising on social media platforms to direct traffic to an external destination, like your website. All actions you take on social media are paid. These ads often appear as promoted posts on whatever platform feed you’re looking through.
Some of popular platforms for promoting your post on social media are Facebook, Twitter, YouTube, Instagram, and LinkedIn.
Why Is Social Media Marketing Important For Your Business?
So now that we’ve defined social media advertising, you may be wondering – What’s the point of this? Why is this important for me?
The simple truth is that your customers are on social media every single day, and these platforms are not going away anytime soon. Consumer behavior has been greatly impacted by the internet, especially through social media’s ease of accessibility.
It’s important that you adapt to this new normal of marketing, because you may find your business on the decline, or even worse, out of business.
But the good news is you can leverage social media marketing to prevent this, as well as spark new growth in your business. Every business needs to use social media marketing if they want to stay in business, and yours is no different.
Social Media Marketing Goals
You can pursue a huge variety of goals with social media marketing — it depends on your overall marketing strategy. Here are some examples of popular goals for SMM:
- community engagement increase;
- sales and lead generation;
- customer retention;
- website traffic growth;
- audience growth;
- handling negative feedback;
- feedback search;
- competitors and trends monitoring;
- increasing brand awareness;
- Consumer demand research.
No matter what your goals are, you have to define them precisely — it will help create your SMM strategy and content.
Social Media Marketing Tools
Ten years ago, social networks were a small field, and it was easy for marketers to manage them manually. Today promoting your brand via social media is a tough job, which demands a lot of additional tools to make everything work.
Implements for social media marketing can be used for these purposes:
- mentions monitoring;
- posts creation and scheduling;
- brand-user communication;
- Performance analytics.
To find more info about useful SMM instruments, their implementation, key features, and pricing, check out our list of 10+ Best Social Media Marketing Tools for 2020.
What Are The Benefits Of Social Media Marketing?
We’ve gone over why social media marketing is important, but let’s discuss why this is worth the investment.
The reality is that social media is now too big to ignore. These sites have a huge influence on both consumers and their everyday lives. It’s not going anywhere any time soon, and if you don’t spend some time on it, your business can fall behind. The good news is that investing in social media marketing can reward you with a stronger business and more customers.
Still unsure if this is the right move for you? Let’s discuss four major benefits of social media marketing:
1. Your Customers Are On Social Media
While this one might seem obvious, we shouldn’t underestimate the impact of this! Social media has been adopted so widely that over 2 billion people are regularly active on it. And most of these people are spending 3-4 hours per day on it, meaning they are spending a large portion of their day scrolling through posts and ads that interest them.
Let’s do some quick math.
If we assume most people sleep 8 hours per day, leaving us with 16 hours of awake time, that means that people spend 25% of their awakened day on social media! And by the time their life is over, that could equate to over a quarter of their life spent on social media.
If your customers are spending that much of their time doing anything, you probably want to be around that thing, regardless of what it is.
Right now, that’s social media. And the sooner you focus on your social media efforts, the better your business will do.
2. It’s Inexpensive
Compared to traditional marketing methods, social media marketing has both a greater reach and a lower cost.
For example, you can spend 10 bucks on an Instagram Ad and reach over 1,000 people. Meanwhile 10 bucks in the traditional world won’t really get you anything.
The reason why social media is so inexpensive is because of the sheer volume of people using it and the lack of advertisers taking advantage of it. But this is changing everyday. More and more advertisers are using social media to grow their business, and as a result, advertising costs have been rising slightly over the last few years.
The sooner you start building your social media presence, the better. You can easily take advantage of the low costs and build up your brand now, instead of playing catch-up and paying too much later.
3. It’s Highly Targeted
Social media marketing isn’t just a new way of advertising, it’s an extremely useful strategy that can help you reach more qualified leads. Each major platform records a lot of data from their users, and this information makes their advertising better than most alternatives.
They know information such as what you like and dislike, if you’re married or single, where you work, what businesses you visited, what food you like, and so much more.
This data can help you target ads at those who are most likely to be interested in what you offer.
For example, let’s say you sell dog accessories. You can run an advertising campaign that targets adults over 25 years of age, that are women who are interested in dogs.
This level of precision is what makes social media marketing so unique. It allows brands to connect with people who are interested in things related to their products, and make their buying process a lot simpler.
4. Builds Trust
Consumers are more likely to engage with the accounts they trust, and that trust ultimately influences their purchasing process.
When done right, everything you do on social media has the power to build trust with your audience. Great content shows that your business is legitimate and that you understand your audience. Each platform acts as a space for you and your followers to engage with each other more directly, and this helps deepen their relationship with your brand.
So not only are you reaching a lot more people, you’re also creating an environment that nurtures leads into conversions.
How Does Social Network Marketing Work?
When successful, social network marketing helps a business:
- Increase referrals or sales leads
- Build word-of-mouth reputation
- Increase sales of products or services
- Provide a means of feedback
- Develop a reputation as an expert or thought-leader
- Drive traffic to a business website or blog
- Develop new products or services
- Keep people informed about special events, sales, and other newsworthy events
- Provide customer service