It is slightly shocking that social media, as we know it, has only been around for a little over a decade. For some it’s hard to imagine what life was like before we could go on Facebook to share pictures or tweet about what Zoey Deschanel wore to the Grammy’s. Though it’s obvious that social media has had a major effect on our social lives, what has it really done for the business world? Whether you are trying to create brand awareness, boost sales, cut marketing costs, or create customer loyalty, social media could be the answer to many of your marketing dilemmas.
Brand awareness has to be one of the biggest perks social media has on marketing. If you know anything about marketing a brand you should know that word of mouth is key. Social media is like one big high school hallway. If one-person tweets or writes a post about your brand within minutes hundreds of users could be reading it and wondering what exactly your brand is all about.
According to Bazaar Voice, the generation that will soon have the most spending power happens to also be the generation that spends the most time on social media sites. The “millennials” are known for having a huge social media presence and soon they will be outspending every other generation. Millennials also trust customer reviews over any other information or research. So if someone is talking about your brand on a social media site you know that someone is taking that review highly into account. I personally have spent hours researching people’s opinions on everything from what hotel I should stay at to what juicer I should purchase. If you plan on targeting and selling your brand to the generation with the most purchasing power, you should have some sort of social media presence.
Creating Customer Loyalty
Social media platforms can be the perfect way for your business to get in touch with your customers on a personal level. By figuring out what platform is right for you, you can connect with your customers by listening and responding to any questions or concerns they may have. With social media you also have the opportunity to show how much you appreciate your customers by offering coupons, promotions, and even drawings.
Cutting Marketing Costs
The idea that businesses and their customers would be able to connect on such a personal level, for virtually free, is something that most business professionals would never have deemed possible. Even though websites and Internet ads may cost your company money. Many social media platforms such as Facebook and Twitter are free, which may be a great thing for consumers but is huge for marketers. Every year businesses spend anywhere from thousands to millions on advertising which may be counterproductive. With free Internet tools like Google Analytics, businesses are even able to track how often their website has been visited, how it was found, and even what words were searched to get to there. If you are looking to connect, search and even hire LinkedIn is available and has made engaging in ones community and networking easier than ever.
So instead of asking IF your business should be utilizing social media the question you should be asking yourself is HOW you should be utilizing it. Did I mention k101 does a pretty amazing job managing our clients’ social media platforms.