You may have a personal Facebook or Instagram account to connect with loved ones, relax while laughing at memes, or keep up with the news. Odds are you interact with brands you’re a fan of while on social media as well. This is exactly why it’s important your business has a social presence.
There are three main reasons why a strong social media presence is important for your business – building brand awareness, growing your following, and it’s cost-effective.
Brand awareness is crucial because it is the initial stage of discovery. It’s in brand awareness that customers first learn about your company. In this phase, you are not only trying to generate an awareness that your product or service exists but trying to create an authority in that field. Brand awareness leads your customers down the marketing funnel towards sales!
You can achieve brand awareness utilizing a well-executed social media strategy. In this strategy, focus on what your brand stands for, your brand differentiators, product offerings and customer reviews. Make an impact for your business by developing brand loyalty through customer interactions and constant on-brand content.
Grow your following
The more followers you have on social media, the more people will see your products or services. This means more viable opportunities to reach your target audience and deliver your message. Make sure to grow your audience organically- through a strategic social media marketing campaign. A common misstep business owners make on the internet is purchasing their social media following. While this may achieve large followership numbers, they’re only a vanity metric and not truly valuable to your business in the long run.
Also, social media platforms have caught on to this tactic and have put up safeguards to prevent fraudulent use. Instagram even has an algorithm that hunts bot likes and follows and, if discovered, could end up getting your account suspended.
Social media is F-R-E-E. There is no cost associated with executing on an organic social media strategy, although there are advertising capabilities on most platforms. And advertising on social media allows you to be more targeted with way less cost than traditional advertising options.
Curious just how cost-effective social media advertising is? Here’s an example – the average CPM (cost per one thousand views) for TV advertising is $19.50. The average CPM across social media advertising is $4.30. Meaning social media outlets are about $15 cheaper than running a TV ad. Crazy, right?!
Also with social media advertising, you have the opportunity to hyper-target ads to people who will most likely be interested in your product or service based on age, gender, location, and interests. This way, you are speaking directly to your target audience, every time. Social media advertising is great because you can adjust your budget and reallocate on the fly- another way to get you the most bang for your buck!
If you’re ready for an award-winning digital marketing agency to help build your brand and develop a strong social media presence, give us a call!