Social Media: Your Business’ Biggest Asset
Let’s face it, the ROI is SO much sweeter when the investment is as low as possible. Can you imagine being able to spend a fraction of what your business currently pays for the same amount of outbound marketing exposure but being able to double your conversion rates. To put this into perspective, you can spend as little as five dollars a day on social media and achieve results for your business.
Whether you are there to participate or not, we’re willing to bet your customers are already talking about your brand on social media. This could be helping or hurting you depending on the sentiment… either way, you’re not reaping the benefits if you aren’t there to join in on the conversation.
Here are a few ways your brand can benefit from the social media world:
For most businesses, especially those just starting up, brand awareness is the number one goal when it comes to advertising. Social media is not only one of the easiest ways to achieve this, but also arguably the most cost effective.
With nearly half of the world’s population actively engaging on social media, you have a melting pot of potential customers at your fingertips. Each platform has its own unique purposes, target audiences and posting formats. With a bit of research, you’ll be able to find out which platforms best speak to your demographics.
Our philosophy is quality over quantity – rather than pointlessly mass posting on all platforms we believe it is more effective to post purposefully ensuring you are creating content that can really resonate with your audience ☺
Finely Tuned Targeting Capabilities
In the past, marketing ROI has been somewhat vague in terms of accuracy. Every billboard you put up, every flyer you pass out, every brochure you mail operates on not much more than the hope that you will reach your desired audience. There is no way to see which customers take this piece of marketing and turn it into a purchase.
Social media has some of the most advanced audience targeting techniques the marketing world has to offer. When setting up an advertisement on social media, you have the opportunity to target people by nearly every specific detail of demographic, geographic location, behavior and more. And when we say specific, we mean specific; down to their favourite colour.
Higher Conversion Rates
To preface, a conversion is any act a user takes on your website. Depending on your business, a conversion could be an online registration, a click, a purchase or anything in between. Bottom line: a conversion is any action that your company considers a lead. On average, conversion rates on social media hover between 3-6% when optimized properly.
As we explained above, social media gives your brand the opportunity to reach your exact desired audience. When you can reach those who are most likely to purchase your product, and not waste time on those who won’t, your conversion rates will naturally increase.
Not only that, but social media provides the ability to humanize brands and show consumers your brands persona. Humanization of your brand is one of the most important factors when it comes to building brand loyalty, credibility and ultimately turning fans into repeat customers.
Finally, retargeting provides a crucial chance to capitalize on prime potential customers who just need a little more convincing— an opportunity easily missed without the power of fast connection and communication provided by social media platforms.
Communication and Crisis Management
A great benefit of social media is in the power of two-way engagement. Unlike traditional media, your customers have the ability to respond to your content and engage with your brand.
However, this can also come with a risk. Very few things can be as damaging to a brand these days than a negative comment or post going viral online. Crisis management and reputation monitoring is crucial for all your social media platforms. Any and all negative sentiments should be addressed promptly and appropriately to minimize their impact and offer customers the ability to see your loyalty and compassion in real time. This will go a long way in turning a potentially harmful situation into an opportunity for new respect and growth among your consumer base.
Now, the only thing left to do is start. If you’re ready to open your brand to the world of social media and start producing high quality, beautiful digital content creation, Contact us—let’s start building the relationship!