Why social media is vital to your business

STILL NOT CONVINCED?

Come on.

Haven’t given into the social media craze yet? Or, maybe you have, but you’re not completely sure why. A study went out from Marketingsherpa, it read, “Broken down, 74% of people aged 55-64 years and 71% of people aged 65 and older said they used social media, compared to 95% of 18-34 year olds, 92% of 35-44 year olds and 85% of 45-54 year olds.” Okay, that’s a lot of people. Time to give in.

Gametime

You now have as much power as Nike, Coca-cola, and every other powerhouse brand to connect with consumers. Literally, you do. Big brands don’t get some exclusive features you don’t have– they’ve just invested time into learning how to be social.

Don’t you wanna…

Okay, I know you see this colossal opportunity waiting for you to take advantage of it. Time to do it.

TIME TO GO ALL IN

Did someone say customer engagement?

Regular customer vs engaged customers– huge difference. According to the Pareto (80/20 rule) 20% of your customers (your engaged customers) are giving you 80% of your sales. Time to grow that 20%. If only there were a way to reach thousands of people with content they’d like to see….oh wait, there is, and it’s social media.

Target..retarget..repeat

Social platforms, like Facebook and Instagram, give marketers the ability to launch “paid ad” campaigns to people to do things like increase conversions and generate awareness. Within these tools you have the opportunity to precisely target your ads at people who are most likely to purchase your product based on demographics and psychographics (attitudes and aspirations). You can do things, like split testing your ads, to ensure you are launching effective ads for maximum ROI.

Let’s get to know each other

Stop continuously posting about promotions and sales– you’re wrong. The true power of modern marketing lies in its ability to engage with people and “start the conversation.” It should be your priority for you to thoroughly research your audience and gather data that allows you to connect with them on a personal level. Then, your content is more likely going to be shared and spread like wildfire!

Here… take this…

Understand what it means to “give” before “asking.” For example if you’re an outdoors brand, upload tutorials and tips on things like fishing and camping much more often than you are promoting a sale.

Brands who overlook this are quickly passed up and left out of the social sphere; in turn, reaching a significant disadvantage. Amazon researched their customers for over four years before engaging in any marketing. Looks like that paid off.

Give back to your…

Create a loyal community (learn how, here). People want to belong to something unique and special. Nowadays, it’s all about the customer experience and less about the product. Social media gives the opportunity to create a community that people want to belong to. My three favorite ways to do this are: user generated content, encouraging participation and leveraging social media as a customer support platform.

A “leg up”

So many of your competitors STILL have not taken advantage of this opportunity. And even if they are on social media, there’s a good chance they aren’t correctly taking advantage of it. This means a disconnect between a large audience. Investing in your social media efforts and sharpening your message can put you far ahead of your competitors and result in a unique business-consumer emotional bond giving you a leg-up against your competitors.

Are you still not convinced enough to go all-in on your social media strategy? Or maybe you are, but you’re not completely sure why. Either way, this blog post is a must-read for you. Let’s start with something everyone can understand, according to Marketingsherpa, the accredited marketing research institute, “Broken down, 74% of people aged 55-64 years and 71% of people aged 65 and older said they used social media, compared to 95% of 18-34 year olds, 92% of 35-44 year olds and 85% of 45-54 year olds.” That’s a lot of people.

The digital age has given us a tremendous opportunity to connect with millions of consumers through social platforms. Interestingly, all brands from Coca-Cola to your small town diner are given the equal opportunity to become a social powerhouse. All it takes is correctly realizing the opportunity and connecting with people properly.

Below are 5 reasons why social media is vital to your business.

1.Increase Customer Engagement

There is a huge difference between your regular customers and your engaged customers. Truly engaged customers are those who visibly live and breathe your brand; it’s important to identify this group because, according to the Pareto Principle (the 80/20 rule), these customers more than likely generate 80% of your sales. Gallup Says, about engaged customers, “They shop more often, buy more, tell others about it, and — most importantly – are less price sensitive.”

Social media gives you the opportunity to generate content that your customers want to See and blend into their entertainment; therefore, increasing engagement. A few ways to this: video, guides, high quality imagery, encouraging participation.

2.Precision Targeting and Retargeting

Social platforms, like Facebook and Instagram, give marketers the ability to launch “paid Ad” campaigns to people to increase things like conversions and generate awareness.Within these tools you have the opportunity to precisely target your ads at people who are most likely to purchase your product based on demographics and psychographics (attitudes and aspirations). You can do things, like split testing your ads, to ensure you are launching effective ads for maximum ROI.

Once you do this you can analyze how your paid campaigns performed and use tools like Facebook’s “Pixel” to remarket your ads at people who are likely to engage with your brand if marketed to again.

3.Intimate Relationships

Many people see social media as a way to continuously launch promotions and sales–
They’re wrong. The true power of modern marketing lies in its ability to engage with people and “start the conversation.” It should be your priority for you to thoroughly research your audience and gather data that allows you to connect with them on a personal level. Then, your content is more likely going to be shared and spread like wildfire! Understand what it means to “give” before “asking.” For example if you’re an outdoors brand, upload tutorials and tips on things like fishing and camping much more often than you are promoting a sale.

Brands who overlook this are quickly passed up and left out of the social sphere; in turn, reaching a significant disadvantage. Amazon researched their customers for over four years before engaging in any marketing– looks like that paid off.

4.Create and Grow an Active community

People want to belong to something unique and special. Nowadays, it’s all about the customer experience and less about the product. Social media gives the opportunity to create a community that people want to belong to. My three favorite ways to do this are: user generated content, encouraging participation and leveraging social media as a customer support platform.

User generated Content

This is when you ask users to submit their own images and/or videos for the purpose of being featured on your account. A great example of this is Disney’s #shareyourears campaign. Disney asked people to send in a picture of themselves with their “Mickey Mouse Ears” with #Shareyourears in the text. In turn, with each submission, Disney would donate $5 to its Make-A-Wish foundation; Disney originally decided it would end donations once $1,000,000 was reached. The support was so overwhelming that Disney had no choice but to double its pledge to $2,000,000.

Encourage Participation

Social media is meant interactive content. For example, instead of just posting a picture of shoes, ask, “Comment with which ones are your favorite.” People are online to be interacted with in creative ways. Leverage interactive polls to encourage participation and to also gather data on your audience. Imagine if you had two products and you posted a “yes/no” poll on instagram saying, “Would you buy this?” This could unlock a great amount of data for your business but also be engaging for your audience at the same time.

Customer Support

According to Lyfe Marketing, “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”

With great power comes great responsibility. Once you gain traction on social media you can expect people to start reaching out to you with questions, comments, and concerns. Everytime a person interacts with your brand it’s imperative to respond in a timely, creative, and professional manner which also fits your brand personality. This type of engagement helps show your community that you care about them and are ready to assist them quickly. Have fun with your audience and watch your community grow exponentially!

5.Competitive Advantage

So many of your competitors STILL have not taken advantage of this opportunity. And even if they are on social media, there’s a good chance they aren’t correctly taking advantage of it. Resulting in a disconnect between a large audience. Investing in your social media efforts and sharpening your message can put you far ahead of your competitors and result in a unique business-consumer emotional bond giving you a leg-up with your customers.

So there are 5 reasons to invest in your social presence. It doesn’t have to be perfect at first, the best thing to do is start publishing content and create a consistent identity online.

 

Leave a Reply

Your email address will not be published. Required fields are marked *