The Benefits of Social Media Marketing Might Appear Hidden At First.
Businesses that are looking to dabble in social media may have a hard time seeing the benefits of social media marketing. Most businesses and their owners venture into social media with the expectation of seeing a big return on investment (ROI). The hope of venturing into social media is that new customers will flood to your site or through your doors, resulting in a huge revenue generation. However, this is rarely the case. It takes time to build a solid foundation in social media and start gaining momentum. The benefits of social media marketing are not always as obvious as we would like or believe them to be. Now you’re probably wondering, “Why would a company who offers social media marketing be telling me that social media marketing rarely results in a big return on investment?” Well, if that is the case, and you are feeling a bit skeptical about the benefits of social media marketing and whether or not it’s worth the effort, below are some reasons for why it is worth the effort, and how your company can leverage its hidden benefits.
Brand Recognition
One of the best and most powerful ways to utilize social media is as a brand awareness tool. With social media, YOU get to decide how you want to position your company in the eyes of the consumer. You also determine what you want people to know about what it is that you do. With compelling content and consistency, you can build a reputation for your brand around your company’s values, advantages, and benefits.
Community
Social Media is your best friend when it comes to cultivating a community. When followers (consumers) join your community, you instantly gain access to them. What does this mean? It means that you can find out what they like and don’t like about your company. You can engage with them which can be more valuable than any kind of paid market research. Building a community and learning from them is key.
Repeat Exposure
Sometimes a consumer needs to look at a product or service more than once before investing in it. The benefit of social media is that you’re able to utilize repeat exposure and remind them over and over again about what you have to offer.
Authority
When it comes to coaches, consultants, and other service based businesses, social media can be a powerful weapon in your arsenal when it comes to establishing authority in your field. By establishing yourself as an authority in your field, you make it known that you are the go-to person for this reliable, relevant information.
Influence.
As your followers increases and your community grows, your influence grows as well. Having a substantial influence to your social media audience can create a snowball effect that can attract new customers, media, and all kinds of other opportunities. A Large audience will only attract more interest.
Website Traffic
What many people don’t realize is that social media can be a leading traffic generator. With that said it’s also very important that your site is functioning and your website design is not dated. When you share blogs, videos and other content from your website, you are giving your audience a reason to click through and visit your website. Once they’re on your site, you have the opportunity to convert these readers and visitors into leads, customers, and purchases. Having clear calls-to-action on your site will help to convert these readers and visitors.
Ahead of the Curve
We are in the 21st century, and whether you realize it or not, your prospective and clients are checking to see if you’re engaging in social media. I always look to follow or like a company after hearing about them, purchasing something from them or reading about them. Why? Because I’m looking to see what they are up to, receive notifications about future sales, and product information. It goes back to the repeat exposure benefit. If you’re on social media but it looks like the Sahara desert, I’m going to assume that you lack an interest in engaging with your customers. Even if it’s not your top priority, if you stay current with your social network(s) activity, your consumers will notice.
Social Media Lurkers
There are going to be days–and plenty of them–when you feel as if no one is paying attention to your social media accounts. But if you keep up your efforts and you are consistent, I guarantee that more people are paying attention than you think; you just have to give it some time. You will eventually start to understand what’s happening behind the scenes of social media and the internet.
Competitive Advantage
Reality Check: I guarantee many of your competitors likely are not doing a very good job maintaining their social media–most companies aren’t, which gives you the chance to shine! Now, the flip side of this: If you avoid social media, you are leaving an open playing field for your competitors to capture your audience.
Big Wins
Many businesses, large and small, are trying to justify the cost and time investment for managing social media marketing. Often an important benefit gets overlooked: Big Wins. If someone you’ve connected on LinkedIn or someone who likes you on Facebook connects you with a significant client or contract, well, that certainly go on the board for Big Wins. If a major news source, or online news source, sees your efforts on social media and decides to interview you about how you utilize social media, mark that publication on the Big Wins bored as well. Although Big Wins don’t happen often, when they do, they make all that effort and time well worth it. It’s easy to forget results like these six months down the road when you’re assessing whether or not your social media marketing efforts are paying off, but keep in mind that one client or contract you that you pick up from social media could potentially cover your social media marketing costs for the entire year. Never forget to factor in the Big Wins when assessing your social media. They are called Big Wins for a reason.
