According to data from Hootsuite, 4.62 billion people worldwide use social media, and the social media advertising market’s global revenue was US$153 billion last year.
While this data may seem an enormous prospect for marketers, it is becoming increasingly competitive. To succeed in this space, marketers must be innovative in their approach to stand out from the oversupply of brand competitors and competing influencers.
What is Social Media Marketing?
Social media marketing, or SMM, uses social media platforms to connect with your audience, build your brand, increase sales, and drive website traffic. These activities usually involve posting great content on your social media, engaging with your followers, analyzing your results, and running social media advertisements.
Although SMM may seem simple on the surface, it involves multiple factors and features that influence the performance and outcome of your social media strategies.
Hence, there are several components of social media strategies that marketers must understand and integrate into their MarTech stack.
The first is what business objectives you are trying to accomplish in your social media. It can be reaching new audiences, boosting brand awareness and engagement, or increasing sales.
Your social media strategy should also be tailored to the social networks your target audience spends most of their time on. Social media platforms like Instagram, Facebook, TikTok, Snapchat, and Pinterest are great for B2C marketing, while LinkedIn is good for B2B marketing.
Understanding what content to attract and engage your target audience is also essential. Studying your target audience and developing a marketing persona to help you accurately answer these matters might be helpful to give you a clear idea of your goals and how to reach them.
Secondly, when planning and publishing your content, you must know your audience, focus on the content quality, and be consistent with your brand image and values. A recurring publishing schedule and great content ensure prospective clients and consumers keep returning to your social media page for more.
The third is listening and engagement. As your social media page gains traction, people will comment and tag you on social media posts or even message you directly. So after planning and publishing your content, it is vital to take the time to engage with your audience as well.
While the feedback might not always be good, monitoring social media conversations about your brand is crucial. You should manage questions, thank people, share positive comments and recognize and offer support to negative ones to enhance the overall customer experience.
Lastly is analytics and reporting. It’s very important to operate social media analytics tools to track and assemble data. This involves understanding user behavior, finding which social media platform works best for your company, picking the best time and frequency to post, researching brand competitors, and refining your strategy.
Benefits of Social Media Marketing for your business
Enhanced Search Engine Rankings
Search engine optimization is significant to gain higher page rankings and increase traffic to your company website. Although social media may not be directly accountable for boosting your search engine rankings, some Social Media Examiners state that more than 58% of marketers using social media to market their product or services for more than a year have seen improved search engine rankings.
As a marketer, your aim should be to top the search results for your keywords, which can be done by producing high-quality content like blogs, infographics, case studies, and business information.
Improved Brand Loyalty
Developing a loyal customer base is the main goal for any company, and the best way to maintain communication with consumers is through social media. Regular interaction with customers can be done through posts or updates to ensure that your customers remain satisfied.
Affordable and Cost Effective
The best part of Social media marketing is the fact that it is cost-efficient. Any paid promotions are a meager cost as compared to other marketing platforms. Almost all social networking sites are free from signing up to accessing your profile.
This is the third in a series of MarTech Stack articles, and we hope that this has provided insight into the MarTech landscape.
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