You start your business and you are thinking of improving the sales, what will be your first move?
Well, technically most people think about marketing, and more than marketing, they go for the traditional form of marketing. Maybe if you started a business in the Mad Men era, this was your go-to marketing strategy but not anymore.
Now, from local businesses to multi-national companies use social media for marketing. The cost is less, their reach is better and they can track down the audience as well.
If you own a business in 2024, going for a fruitful marketing plan without considering social media marketing is impossible. To quote some numbers from the perspective, nearly 92% of marketers rely heavily on social media marketing. Moreover, 78% of the businesses relying on social media for sales end up outselling their competitors. This is not just for boosting sales but is also an incredible tool for awareness, learning about the behavior of the audience, and then incorporating this behavior into business.
While most people believe that big companies with a lot of money are investing heavily in social media, experts believe social media is acting as an equalizer, offering everyone a level playing field regardless of their budget. Now thanks to the internet, you can start a business at any point regardless of the location. As long as you have a solid internet connection like Cox that offers affordable Cox planes de internet and your smart device, you can start a business right now.
Top 8 Pros of Social Media Marketing
As a business owner, here are some of the pros that will convince you to bet your money on social media and prefer it to other possible marketing options.
1- Affordability
Mass media will eat your profit if you even think of using it. This is not coming from me but directly from the marketing experts.
Traditional marketing is not just expensive but also less effective, so unless you are not a brand that is catering to billions you don’t have to waste money on an ineffective and outdated method of marketing.
Another important thing to keep in mind here is that the majority of traditional marketing brands are big sharks, which means you will be spending billions to reach people who are not your targeted audience.
2- Access to Valuable Data
Just a few years ago, before the social media world, big brands would be sending billions on customer data, understanding the requirements of customers, and more.
They should spend resources on collecting data via surveys. These surveys would later be analyzed, which would take even longer and the chance of human error was more than ever.
Now, with social media marketing, you can access the data that is cleaner and it will offer you valuable insight, which might otherwise cost a lot of money if collected manually.
3- Ability to Spy on Your Competition
Most marketers are very keen on understanding why their competitors can earn more. Of course, when you are in the same market the competitor analysis will offer you valuable insight.
Now, with just a few clicks you can filter out your audience based on your competitors’ data. From selecting the audience of your competition to copying their high-performing ads, you can do it all.
4- Instant Engagement Boost
You are spending money but your ROI is as low as the patience of a disappointed client. Well, social media can help you laser-focus on the goal of each campaign.
With just the right filter and selecting the audience, you can instantly boost engagement. Through this engagement, you can learn about the changing expectations of your customers and a lot more.
5 – Fetching Data in Real Time
Trends are changing and so are user expectations. Do you think your old selling methods can stand a chance? Before an analysis or scanning, even a five-year-old can tell you the answer is NO.
This is where social media marketing can help you. Since social media has more than millions of active ads per day, it fetches, assembles, and updates data every day. Eventually, you get more refined results that match the ongoing trends.
6 – Boost Web Traffic
Web traffic is one of the biggest issues right now. You have a good website but the bounce rate is so high that you have lost everything.
Well, social media offers you real-time data from your website offering you a much better insight into what you lack. With simple automated tools like Facebook Pixel that can be installed within just a few seconds, you can track down the user behavior on your website.
7- Retarget Your Customers
Your customer likes your product and adds it to the cart but never completes the transaction. Well, this is not just your problem but also a nightmare for many business owners.
To resolve this issue, social media offers you retargeting options so your ad can work as a reminder for anyone willing to buy or looking for a similar product.
8- Instant Social Listening
Interaction with the customer goes a long way when done right. However, in some cases, although the company is willing they do not have access to effective avenues. This is mostly common in the case of small businesses with limited budgets.
However, social media works as an effective bridge between you and your customers. You cannot just learn everything about the expectations of your customers but also address their complaints in the long run.
Wrap Up
There is no doubt that marketing is more than social media but we can all agree that the biggest profitable chunk lies on social media. The above-mentioned pros will prove that through social media you can easily run your business more effectively.