Social media is a widely recognized platform for sharing opinions, communicating with others, and showcasing creative content. The revolution started in 2004 with MySpace, Facebook, and LinkedIn launch. Although Facebook was initially created to allow communication among Harvard students, it quickly went viral, connecting millions worldwide.
Businesses swiftly realized the potential of this technology to their advantage and started using social media marketing to reach a broader audience. Social media quickly became the primary means for businesses to promote their products and services. If you want to learn more about social media marketing, you're in the right place.
In this article, we will explain why businesses must use social media marketing. So, without further delay, let's dive into the top five reasons why social media marketing is essential for all businesses:
Social Media Marketing Tactic #1:
Increasing Brand Awareness
Image Source: Spottydog Communications
Today's wide variety of social media platforms gives businesses more opportunities to reach out to different target audiences with creative content.
“Customers would be able to communicate directly to businesses, allowing businesses to build relationships with their customers and potential customers.”
Social media platforms like Instagram and Facebook also allow businesses to create brand awareness through content. Anyone with an internet connection can access social media, enabling businesses to target larger audiences.
“Businesses could utilize social media to create buzz around the brand name. Since social media such as Instagram, Facebook, and Twitter already allow people to share information, businesses could also use social media to create hype so that people would talk about the business and its products.”
For social media marketing to be effective, the business should also be able to create the appropriate content on the right platform to suit the demographics.
Like the UK-based fashion retail company, Boohoo garnered its success through social media marketing despite the ongoing pandemic. Relying on its online social media marketing through influencers, Boohoo increased its sales by 45% at the end of May 2020.
Social Media Marketing #2:
Building Customer Relationship
A successful business requires building a solid customer relationship, regardless of the business size. To ensure a steady stream of income, businesses must prioritize their customers. Many businesses engage their audience to foster a good customer relationship.
“For example, the fashion retail MGPLabel uses Instagram to promote their products while also regularly hosting Q&A sessions with their customers. This approach makes the business appear more approachable and helps customers feel closer to the brand.”
MGPLabel's Instagram live streams are particularly effective. During these live streams, the brand's models showcase the details and fit of their clothes while viewers can ask questions about the products. Business owners and models provide their opinions and answers about the products, which helps build trust with the audience.
“With this approach, MGPLabel has successfully opened retail stores in Malaysia and Singapore, and has amassed over 120,000 loyal fans on Facebook and 76,000 followers on Instagram. By effectively using social media marketing, MGPLabel has managed to grow their business from an online store to a successful brand with a strong following.”
Social Media Marketing #3:
Brand Storytelling
In today's world, where equality matters, differences are clean, equality is essential, and differences are celebrated, businesses need to be careful with their social media posts. Brand storytelling can help people connect with the brand on a deeper level. This approach is practical because people are naturally drawn to stories they can relate to.
“Dove demonstrated this perfectly with its ‘Real Beauty' campaign, mainly through the ‘Dove Real Beauty Sketches' video. This campaign became very popular on Facebook and was widely discussed on Twitter and Instagram. It resonated with many because it addressed societal beauty standards and the common issue of self-comparison that diminishes confidence despite everyone's inherent beauty.”
The campaign reached a broad audience and significantly impacted many women thanks to strategic social media marketing. Dove gained popularity and saw its sales increase from $2.5 billion to $4 billion in the decade following the campaign's launch in 2004.
The success of Dove's storytelling spread through social media because people watched, liked, and shared the content, showcasing the power of social media marketing in amplifying a campaign's reach. Berated and cultures are honored, and businesses must be mindful of their social media posts.
“Using brand storytelling to spark interest helps people connect with the brand on a deeper level. This approach is practical because people are naturally drawn to stories they can relate to.”
Social Media Marketing #4:
Gaining Customer Loyalty and Exceptional Customer Service
Communicating with the target audience through social media has made it easy for businesses to improve and provide better customer service.
“Consumers often give their feedback or ask questions directly through the business' social media because it is a more convenient approach than sending in an e-mail or calling in.”
This allows businesses to gather feedback from their consumers and continue to improve. Replying quickly to the consumers' feedback and questions also helps businesses gain customer loyalty and trust.
Social Media Marketing Is a Great Tool for Businesses
To Provide Customers Better Customer Service
Brands could also use social media platforms to engage with their consumers and ask open-ended questions and opinions using social media features that allow people to leave comments so that consumers would be able to give feedback, giving consumers the benefit to be part of the business' decision-making process.
Customers would then feel closer to the brand, be satisfied with its choices, and be more loyal to it.
Social Media Marketing #5.
Driving Conversions at a Lower Cost
Social media users vary across different platforms. This allows businesses to target a wider range of demographics, and therefore, more people can view the content that the business has uploaded. Yet, aside from advertising costs, posting content on social media costs almost nothing.
Social media marketing also gives brands a chance for trial and error as the cost is not as high as other traditional advertising methods. For example, if a business advertised one item of clothing and it did not drive enough traffic to their website, it would be easy for the business to tweak the advertisement to attract more viewers.
Driving viewers to profiles and websites is the first step, but the main reason businesses want more clicks is to increase the chance of conversions to sales. In this case, social media could also be used for businesses to promote their products to drive consumer action.
“Businesses could promote free trials, giveaways, or contests that would not only attract more consumers but also increase the chances of purchase. People tend to be more afraid to purchase new products with an unfamiliar brand.”
If they have tried or received free trials, there is a higher chance that the consumers will repurchase the products and start using the brand. If the customer is satisfied, there is even a chance for the customers to post a review of the products on their own social media platform, which is free publicity for the business!
While it could be confusing and scary to take new marketing strategies, especially for already established businesses, social media has also proven highly effective for big and small businesses.
With the current economic condition where businesses are striving to survive during this pandemic, brick and mortar become less efficient, and social media marketing would be a great solution for all businesses looking to target more demographics and improve their marketing strategies.
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