Social media should be an essential part of every business. But in case you needed a visual representation of whether or not we are talking about your business, here is a flow chart we've put together.
The importance of Social media to every business is no longer a question of if it's necessary but of, why the heck aren't you doing more of it? Here are just some of the benefits.
Cost-Effective Targeting
If spending thousands of dollars on mailers, radio ads, or T.V. spots without any control over your audience sounds silly to you, then you need to be on social media. According to Statista, advertisers have to pay nearly $19.50 per 1000 views (CPM) on cable T.V. Compare that to Facebook's median CPM of only $7.00, and you start to see the benefit. The other benefit of social media advertising is the amount of audience control you have. If you don't need middle-age men to see your ad on Instagram, then you can exclude them from your audience. Looking to reach 20 something moms? Yep, you can target them too. By being both cost-effective and highly targetable, social media advertising is a win-win.
The Eyes are on Social Media
2.65 billion. That was the estimated number of people that were using social media in 2018, according to Statista. Don't you think that your customers might be part of that number? So why would you not be where your customers are? People are spending more and more of their days interacting on social media, and it's not going away. Facebook isn't a fad. The internet is transforming how we consume media, so jump on board and join the party!
Brand Awareness
If you're fun, informative, or entertaining on social media, the brand awareness potential is massive. If you can humanize your brand and begin to relate to your audience, you will be amazed at what happens. However, you won't be relatable with the tired tactic of shoving your logo and sales pitch into their face so much that they can't see anything else. Connect with your customers on a social level, don't be the attention-starved narcissist in the corner, yelling at everyone as they walk by. Then you will start to make fans. Fans consider your business their business and become ambassadors to everyone they know.
A Great Place to Listen to Your Market
Your entire market is on social media from your fans to your competition. Their needs and problems are there as well, being discussed and researched, complained about, and solved. As an expert in your field, shouldn't you be there answering their questions and coming up with solutions? Businesses that utilize social listening are the ones that stay ahead of their competitors. Make sure you are that business. Spend time on the platforms and make a point to engage with your market.
So, put away your mass mailers and print ads and cancel the commercial set to run during "Days of our Lives." Get on social media today and start realizing the benefits.
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