Importance of Social Media Marketing for 21st-Century Entrepreneurs
by gardenpatch Insights on Dec 12, 2022 4:21:47 AM
Are you wondering how to promote your business in the modern age effectively? In the past, businesses relied on traditional methods such as newspapers, television, and radio to reach their target audience. These mass marketing efforts were designed to raise awareness and convince potential customers to buy their products or services.
However, the internet's rise has changed how businesses approach promotion. Instead of outbound marketing, which focuses on reaching customers through various channels, inbound marketing focuses on creating a two-way interactive connection with customers through search engines, social media, and content initiatives.
What Is Social Media Marketing?
Social media marketing uses platforms to promote a product, service, or brand. It involves creating and sharing content on social media and running paid advertisements on these platforms.
Social media marketing aims to increase brand awareness and engagement with customers, which can ultimately lead to increased sales and customer loyalty. Some examples of social media platforms commonly used for marketing include Facebook, Twitter, Instagram, LinkedIn, and Pinterest.
Align Marketing and Sales with HubSpot
Break down silos and align your teams on one integrated platform. HubSpot's software solutions seamlessly connect your departmental data to help you create an exceptional customer experience. Click here to learn more about HubSpot.
The Role Of Social Media Marketing In Business
In 2021, over 4.26 billion people were using social media worldwide. That number is projected to increase to almost six billion in 2027.
The internet has become a fundamental part of our lives, connecting us to people and information worldwide. Social media networks play a crucial role in this connection, with millions of people using them daily. Social media has become an essential aspect of digital marketing, allowing businesses to reach millions of potential customers.
By utilizing social media, businesses can connect with their customers more personally and engagingly. This can help to increase brand awareness, as well as boost leads and sales. Additionally, social media provides a wealth of data that can be used to understand customers' needs and preferences better, allowing businesses to tailor their marketing strategies to serve them better.
Why Every Business Needs a Digital Presence
A digital presence is essential for any business that wants to succeed in today's world. The Internet offers unprecedented opportunities for companies to acquire leads, promote themselves, sell their products and services, and manage their clients worldwide. A website is a must for any company that is serious about getting discovered by new customers in the 21st century.
But simply having a website isn’t enough. In today's digital age, most people use the internet to search for products and services. In fact, 54% of people use social media to research products.
If your business doesn't have a strong online and social media presence, you're missing out on a significant opportunity to connect with potential customers. Consider that 67% of consumers expect brands and companies to have a social media presence. More importantly, 71% of consumers are more likely to purchase products and services based on social media referrals.
Ultimately, by investing in an online presence, businesses can reach a wider audience, improve their visibility, and better connect with their customers.
However, businesses have many more reasons to invest in their online presence and social media marketing. In this blog, we’ll discuss seven reasons social media marketing is important for businesses.
7 Reasons Social Media Important Is For Businesses
1. Brand Awareness and Recognition
One advantage of social media over traditional media is that it allows you to get your brand in front of potential customers quickly and easily. It also lets you keep your brand in front of your audience even when they do not think about your brand or product.
46% of consumers buy from brands they recognize, and many even develop loyalty to those brands. So, gaining brand awareness and recognition is essential for businesses. Fortunately, social media provides an easy and effective way to build your brand.
Here are some tips to boost your brand awareness on social media:
- Find Your Audience: Before choosing which social media platform to use, research where your target audience is active. For example, a B2B company may find its audience on LinkedIn rather than Facebook.
- Use Visuals: Once you know where your audience is, grab their attention with eye-catching visuals such as images and videos. Not only do visuals promote engagement, but they also encourage social sharing.
- Build Conversations: Social media is all about conversations. One-way communication will only get you so far. Participate in conversations, listen to your audience, and engage with them.
- Measure Your Efforts: Take advantage of the tracking features on the social media platforms you use (e.g., Meta Page Insights) to track your activity. You can also use third-party solutions like URL shorteners and Google Analytics to gather data.
- Build Authority: To increase your engagement rate and brand exposure, focus on building your authority. Offer valuable content and include original content in your posts to increase credibility.
2. Social Advertising
Social advertising has exploded recently, with platforms like Facebook generating billions in ad revenue. This should be no surprise, as social advertising offers several key advantages over traditional channels like print media. For one, social ads are generally more affordable than other forms of advertising. They're also more trustworthy, giving you the opportunity to engage with your target demographic in a more meaningful way.
Overall, social advertising is a powerful tool that is here to stay. As more and more companies experiment with digital advertising, they find that social media is the way to go. With its low costs, real-time performance tracking, and targeted demographics, it's no wonder that social advertising is growing rapidly.
3. Increased Website Traffic
Social media marketing is a powerful tool for driving traffic to your business’ website. Using popular platforms like TikTok, Facebook, Twitter, and Instagram, you can reach a wider audience than you would through search engines alone. Relying too heavily on search results can limit the potential traffic to your site.
By sharing links to blog posts or product pages on social media, businesses can direct more potential customers to their websites. Almost nine in 10 marketers say increasing website traffic benefits social media marketing.
Ultimately, connecting with your customers and prospects through social media allows them to see the human side of your business and serves as a gateway to your company's website.
4. Improve Search Engine Optimization (SEO)
While Google says that social signals are not an official ranking factor, they affect SEO indirectly. Here are some of the ways social media marketing impacts SEO:
- Higher chances of being found through web search: Sharing on social media doesn't directly impact your website's ranking. However, social media platforms often dominate the first page of search engine results for brand names. This means your social media accounts have a good chance of ranking in the top ten search results.
- Ability to reach more people through social media search: People no longer rely solely on Google for searches. Social media sites have become search engines in their own right, with vast amounts of content being generated and exchanged. Users can easily find this information through keyword searches, hashtags, etc. When people search for the kind of content you're posting on your social media profile, they may come across your page. This can lead to new followers, connections, and potential business opportunities.
Search engines often consider the number of social media shares a website has when determining its ranking. By regularly sharing content on social media, businesses can improve their search engine rankings and make it more likely that their website will appear at the top of search results.
5. Increase Leads And Sales
Ultimately, social media marketing aims to generate more leads and sales for a business. By promoting products and services on social media and directing potential customers to the business's website, businesses can increase their sales and grow their customer base.
Businesses can also utilize social proof and user-generated content to connect with their audience effectively and lay the groundwork for increased sales.
This strategy involves showcasing the experiences and opinions of others who have used your product or service. For example, you could highlight a positive comment someone left on your Facebook page or retweet a tweet from a satisfied customer. This provides your prospects with a sense of comfort and serves as a reminder that others have successfully used and benefited from your product.
This involves leveraging the voices and experiences of your dedicated fans to create high-quality content that resonates with your audience. For example, you could encourage your followers to share their stories and experiences using your product and then feature this content on your social media profiles. 88% of consumers trust user reviews as much as personal recommendations.
6. Understand Your Target Audience’s Interests
Social listening is a powerful tool that can provide valuable insights into how people perceive your business. By monitoring online conversations about your brand, you can gain a more well-rounded view of what people say about your company, not just your followers or customers.
This information can have a significant impact on various aspects of your business. For example, by understanding what people say about your brand and the competition in your industry, your team can improve social selling, product positioning, content creation, and customer retention.
But social listening isn't just useful for improving your business. It can also help you identify potential problems or issues before they escalate. 96% of unhappy customers won’t tell you directly. But they will tell 15 friends about their disappointment with you. By monitoring conversations about your brand, you can quickly spot any negative feedback or concerns and take steps to address them before they become bigger issues.
Many social media platforms have built-in tools for monitoring specific keywords and hashtags, which can help you identify relevant conversations and trends.
7. Social Media Marketing Is Cost-effective
Finally, one of the biggest advantages of social media marketing is that it can be a cost-effective way to promote a business. Unlike other forms of advertising, social media marketing can be done at little to no cost, making it a great option for small businesses with limited marketing budgets.
By creating engaging and shareable content, you can also increase the reach of your business for free. Users will repost your content, meaning a wider audience will see your message without any additional cost to you.
Of course, if you want to take things to the next level, you can always invest in social media ads. By targeting your ads to users who are most likely to be interested in your products or services, you can increase the chances of your ads being seen by potential customers. Plus, the ability to track the results of your social media campaigns means that you can see a return on your investment and make data-driven decisions about your marketing efforts.
Traditional Marketing in the 21st Century
In the 21st century, businesses increasingly use digital marketing to attract customers and build their brand image. However, traditional marketing tactics, such as television and print advertising, are still widely used by large-scale firms.
Small businesses with limited budgets often rely on digital marketing strategies to reach their target audience. Small businesses can effectively connect with their customers and build a strong online presence by creating engaging and relevant content.
Whether a business chooses to use traditional or digital marketing methods, it is important to consider the type of products being sold, the size of the target market, and the buying patterns of potential customers. By understanding these factors, businesses can develop a marketing strategy tailored to their needs and goals.
In conclusion, social media marketing is crucial for 21st-century entrepreneurs for various reasons. It allows for the creation of a strong online presence and the ability to connect with a vast audience cost-effectively. Social media also allows for gathering valuable customer insights and engaging with them in real time.
However, it is important to remember that social media marketing is not a one-size-fits-all solution. To succeed, businesses need to carefully plan and execute their social media strategy, considering factors such as their target audience, the channels they will use, and the content they will create.
By leveraging the power of social media, businesses can connect with their customers in new and exciting ways, driving engagement and leading to increased sales and revenue.
Let Us Do The Heavy Lifting
Now that you understand the importance of social media marketing for 21st-century entrepreneurs, it's time to take action. If you want to grow your business and reach a wider audience, it's time to start incorporating social media marketing into your strategy.
Don't know where to start? Contact us today to start leveraging the power of social media marketing to grow your brand and revenue.