In order for businesses to grow quickly, they need to be able to reach a wide targeted audience. Social media is one of the most important aspects of digital marketing. Social Media provides incredible benefits that help reach millions of customers worldwide. Without an active social media presence, an incredible marketing opportunity is being missed. 69% of U.S. adults are now social media users (according to Pew Research Center) and is only expected to grow. Yet, like every marketing strategy, social media marketing has some truths and myths on how effective it can be for B2B and B2C businesses. Here are 5 facts to keep in mind when getting into social media marketing:
- A successful social media marketing strategy takes time & effort
- Social media marketing works for some industries better than others
- Earning a positive ROI with social media marketing is challenging
- Social Media ROI Depends on Other Marketing Strategies
- Growth in social media marketing, like traditional marketing, requires some luck
1. A Successful Social Media Marketing Strategy takes Time & Effort
You cannot simply “turn on” any social media platform, set-up a cookie cutter marketing strategy, and expect to see dramatic increases in conversions immediately. The time and effort it takes to build a successful social media presence is underrated. Every successful business who is running a social media marketing strategy must understand their target market. Often times, it's difficult to break even within the first month of social media marketing. This is due to the amount of the time it takes to generate a presence while factoring in trial and error time. However, social media is a crucial part of your business marketing and it doesn’t have to be stressful to manage. A solid content management plan builds brand awareness and creates conversions. Social media marketing has the potential to be a very effective marketing tool.
2. Social Media Marketing Works for Some Industries Better than Others
Something to clarify before getting into this point too much: all industries can be successful on social media, and almost any company has the potential to see a positive ROI using social media marketing. Yet, some industries are going to have an easier time when it comes to social media marketing. Often times, B2C industries (retail, restaurants, etc.) perform better than B2B industries (like those that offer restaurant-style pagers) simply because there are more consumers actively searching for businesses they can patronize. A B2B business looking for other businesses to solicit will still use social media but may be more apt to use a platform like LinkedIn rather than Facebook, for example. Something to keep in mind though, for both B2C and B2B industries and across different platforms, is using strong visuals and interesting content topics will help set you apart from your competitors and intrigue your audience. Companies that provide mass-marketing to their demographic in multiple ways (SEO, Google Ads, traditional advertising and social media marketing) will almost always outperform a business or company that uses marketing strategies sparingly.
3. Earning a Positive ROI with Social Media Marketing is Challenging
A positive social media marketing ROI is harder to earn today than it was a few years ago. We see the difficulty of obtaining a positive ROI because of a decline in organic reach a brand can achieve on social media platforms. Social media apps like Facebook, Instagram, Twitter, LinkedIn, and Foursquare have intentionally changed their algorithms and have become more strict on the amount of visibility a company page can get for free. This was done to ensure that users have less commercial experiences when browsing newsfeeds and to drive more companies to paid advertising. Also, some social media sites have placed guidelines on how much text can be shown in an ad, further limiting the amount of real estate on an already tiny display ad to entice a user to click on it and ultimately make a purchase. These are just a few of the challenges companies face while advertising on social media.
4. Social Media ROI Depends on Other Marketing Strategies
For the most part, the strength of your social media campaign is dependent on the strength of your efforts in other marketing strategies. For example, let’s say there are two companies selling the same product, but Company #1 has both a social media marketing strategy and an organic SEO marketing strategy, whereas Company #2 only has a social media marketing strategy. In order for Company #2 to retain as much traffic as Company #1 has in a month, Company #2 would have to spend in upwards of anywhere from 3 to 10 times as much money due to Company #2 only investing their marketing on social media platforms. Generally speaking, just about all marketing efforts will perform better with a comprehensive marketing approach by blasting out a consistent message across multiple advertising distribution channels, while also keeping up with business best practices with their online assets.
5. Growth in Social Media Marketing Requires Some Luck
Everyone hears about that one video of the little boy singing like Luke Bryan that went viral. Viral content can quickly scale your social media presence from “amateur” to “professional,” but there is not much strategy behind producing viral content. Even if you have all the “right” ingredients, there’s still an element of timing and luck that must come into play. A piece of content from your competitors might be seen 10 times more than yours just because it was timed differently, or because the right person happened to see it first. And while luck plays a part in content going “viral,” it often takes a large upfront push to get that particular post or video to gain momentum. That upfront push might start by simply boosting the post and encouraging others to share it, or offering some type of incentive for others to share it such as entry to a contest (though sites like Facebook have strict rules when it comes to contests) or a moral call to action. But often times a funny or cute video is just that and does fine organically in today’s social media-centric world.
These facts aren’t meant to discourage you from pursuing a social media marketing campaign. There are so many scientific analyses that stand behind the idea that social media is still one of the best and cost-efficient marketing strategies available. However, to be successful you need to set realistic expectations and understand the potential of your social media marketing strategy and the industry in which you're involved.
Properly Implement Your Social Media Marketing Strategy–Meets Your Marketing Goals
Social media marketing–when done correctly–can help with a number of goals, including:
- Raising brand awareness
- Creating a brand identity
- Create communication with target audiences
- Increasing website traffic
- & more
Creating a strong user fan base is crucial when implementing an effective social media marketing campaign. If a potential follower does not trust or believe in what you are bringing to the table, they will not engage with your company. In order to make sure your business is obtaining that engagement and acquiring that trust, many companies use marketing influencers to help. Business can benefit from the help of agencies like ApexDrop–a micro-influencer company. ApexDrop is a service agency that provides a turn-key solution and makes sending hundreds of product samples to influencers easy with guaranteed results. Learn more about ApexDrop and how they can take your social media marketing strategy to the next level with micro influencer marketing.