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Why Is Social Media Marketing Important Today?

Today's consumers rush to browse social media when they want to know more about an organization or product because that’s where they’ll find others talking about that business.

What if you don’t have a social media presence? You’ll miss a great opportunity to make an impression.

Take a look at these stats from Oberlo to have a feel of why having a sound social media marketing strategy is imperative to business success in 2020 and beyond:

  • 71% of consumers who have had a positive experience with a brand on social media are likely to recommend the brand to their friends and family.

  • 90.4% of Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active social media users.

  • Facebook alone has over 2.7 billion monthly active users.

Your customers and prospects are using social media channels every single day, multiple times a day. Check out this blog to know how much time an average person spends on social media.

Social media is an ideal place for brands looking to gain insights into their audience’s interests and tastes. The way experts see it, smart companies will continue to invest in social media to achieve sustainable business growth.

Whether you want to launch a new product or a business, social media is the perfect launchpad to create a buzz around your initiatives. As we move further into the future of e-commerce, it’s clear that social media marketing isn’t just an option. Your business can’t afford to miss out on social media in an increasingly competitive environment.

It's especially competitive in the social media influencer space, where there are thousands of new influencers starting a brand every day. If you're trying to build more of an online presence to become a social media influencer, make sure to Connect 1928 Creative Studio.

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5 Benefits Of Social Media Marketing

The concept of social media marketing has evolved over the years. A few years ago, the sole purpose of using social media channels was to generate website traffic. Today, it has developed into something more than just a place to broadcast content. You can have a social media marketing strategy in place to achieve a broad range of benefits from creating two-way conversations with potential customers to expanding the reach of whatever you’re selling. I am going to mention the top 5 benefits of social media marketing:

1. SMM Consistently Warms Up A New Audience For Your Business

There’s nothing worse than facing a cold audience or people who haven't interacted with your brand before. Social media marketing opens doors to tools and tactics that make it easy to warm up a new audience for your business. Facebook and other social platforms allow you to use content to connect with the potential audience and warm them up. While it’s hard to get people’s attention, you can easily break through the noise with engaging content. For example, creating an interesting Facebook video ad can drive people to know more about you.

2. SMM Builds Stronger Relationships With Customers

If you think social media marketing is all about selling and promoting, rethink. Successful brands connect and engage with their social media audiences to build lasting relationships.

For instance, when they share something on a platform, they respond to whoever leaves a comment or question to provide them with any assistance they may need. Rather than selling your products or services, you can simply ask your social media followers questions about your products or share something that could make life easier for your audience. This way, you build trust and show them how much you care about their needs and opinions. It's always a must to serve people first before asking them to invest with you. For example, one of the best social media strategies that we use is our Entrepreneur Cooperative Facebook Community.

We use this Facebook group as a place to talk about life and business, share cool thoughts and strategies, and just get to know other like-minded people like us. A Facebook group is a great way to use social media to grow a loyal audience of people who will advocate for your business or brand for a lifetime.

3. SMM Generates More Leads & Conversions

Platforms like Facebook, Instagram, Twitter, and Linkedin allow companies to generate leads. You can use a mix of paid and organic tactics to boost conversions. Video marketing, paid ad campaigns, giveaways, and email opt-ins are some of the leading strategies to get prospects into your sales funnel. For example, running a giveaway campaign on Facebook can help you boost your list of qualified email addresses. Since everything happens online, SMM is a measurable, quicker, and easier way to build a database of prospects. With increased visibility, your business finds plenty of opportunities for conversion. Compelling content can lead your social media followers to your company’s website and turn them into loyal customers.

4. SMM Gives You A Leg Up On Competitors

There’s a lot to learn from your competitor’s social media presence, especially if you have just started exploring social media and lack good marketing ideas. Progressive companies always monitor their competition to see what’s working for them and whatnot. Tracking what your competitors are up should be a key part of your social media marketing strategy. You can start experimenting with things that are working for your competitors. For example, if paid Facebook ads are generating good results for your competitors, you should try them too. However, you shouldn’t copy your competition in a way that could hurt your reputation. Make sure to stand out. If you would like to see what type of Facebook ads your competitors are showing their audience, you can see everything they are doing by visiting the Facebooks ad library, here. The ad library provides advertising transparency by offering a comprehensive, searchable collection of all ads currently running across Facebook apps and services, including Instagram.

5. SMM Is Cost-Effective

Social media marketing is probably the most cost-efficient and diverse way of promoting a business. It doesn’t cost anything to create a profile on most social networking sites. If you want to run a paid campaign to boost your content, the cost is relatively low compared to other advertising platforms. When done well, your chances of producing greater returns on your investment are higher. If paid advertising is a part of your social media marketing strategy, be sure to start small and work your way up as you become more comfortable.

There’s always something you can do to improve your digital advertising results. One of the benefits of social media marketing is that it allows you to track your performance and fine-tune your strategy using real-time data.

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