Twitter has over 321 Million monthly users, Instagram has over 1 Billion monthly users, Facebook has over 1.5 Billion monthly users, and LinkedIn has 250 million monthly users. The total number of Social Media users has been growing every year, and they are expected to keep increasing.By 2021, the total number of Social Media users is expected to reach 3.09 Billion. These numbers tell you that the target audience for your product or service is available on these Social Media platforms. Which is why it is important to leverage social media as a marketing tool.
Targeting this audience through Social Media has become one of the essential aspects of Digital Marketing. 90% of businesses that do Social Media Marketing have observed a marked increase in their business exposure.
Let’s take an example of the automobile sector. The ‘The Drive to Decide 2018’ report by Google and Kantar TNS, which keeps track of customers’ car research and purchase journey, highlights a considerable shift in consumer behavior.
Almost 89 percent of auto sales in India were digitally influenced in 2018, up from 74 percent the previous year. Companies like Volkswagen, TATA, Maruti, Nissan, Toyota, Renault, Audi, and BMW have seen a significant increase in sales since they started leveraging the power of social media.
We can also take a look at Swiggy. It was at the top of its social media game during IPL 2019. At the beginning of the T20 cricket season, it launched “Match Day Mania,” a 51-day long food festival that gave discounts across 13000+ restaurant partners. The campaign was promoted across all Social Media platforms.
The brand saw a significant increase in orders and new user acquisitions during the IPL season.
Swiggy shared that with CSK winning the trophy, Chennai saw the highest growth in orders during IPL with a jump of 44% followed closely by Pune (40%) and Delhi (37%). Kings XI Punjab had a good season, and this increased the sales in the city of Chandigarh, with over 100% increase in orders for Punjabi dishes like Kadai Paneer, Dal Makhni and Butter Nan.
What we can take away from these examples is that Social Media is a minefield for lead generation as well as customer acquisition and there are plenty of benefits of marketing on social media. If these brands can benefit from it, so can you.
Benefits of Social Media Marketing
There is no denying the fact that Social Media Marketing has many advantages for established brands as well as start-ups. Imagine spending as little as 7 hours every week on increasing your business’s recognition, traffic, and sales with little to no cost. That can be a reality with Social Media Marketing. Here are a few advantages of using social media platforms for business marketing:
1. Increases brand awareness
If you want to syndicate content and improve your brand’s visibility, making use of Social Media is the most cost-effective method to do that. Each post or piece of content that you share will contribute towards introducing you to new networks of individuals. You will be able to engage with a broad audience, pitch your product or service to them, solve their queries, and keep them engaged until they convert.
2. Increases sales
It has been seen that social media has a higher lead-to-close rate than any other form of marketing. With more visibility that comes with being on social platforms, your company gets more opportunities for converting potential customers into actual customers. Therefore using social media in marketing can prove to be very beneficial for businesses.
3. Increases Inbound Traffic
If you do not market your brand on Social Media, the inbound traffic is limited to your usual customers. Only people who know your brand and are familiar with it will search for the keywords you are ranking for. If you want to reach out to new consumers who are outside your loyal customer circle, then Social Media Marketing is a necessity.
Social Media is a melting pot of various types of people with different backgrounds and behaviors. Posting your content on these platforms allows these individuals to reach your business organically.
By marketing on social media, you can effectively open your business to a wider variety of versatile consumers across the globe. Every social media profile visit that you get works as a gateway to your website, and every piece of content you post is one more opportunity to acquire a new customer.
4. Increases Brand Authority
One of the major benefits of Social Media Marketing Is The Increase in brand authority on various social media platforms. If your brand is interactive online, customers who follow your brand’s accounts often begin to trust your business.
People use these platforms to stay connected to their friends, family, colleagues, and communities. Since they are already talking, why not put your brand into the mix? They will likely mention your brand to others when they require your products or services. This leads to excellent social proofing.
Being visible on platforms where people are liking, sharing, and talking increases the number of people that can engage with your brand. These people can immediately check out your brand, allowing you to influence them with your content. Once they know that your company is one of the best ones to fulfill their need, they convert. This is bound to increase conversion rates on your existing traffic.
5. Helps you get Marketplace insights
One of the most significant benefits of social media is gaining marketplace insight. Is there a better way to learn what your customers think or what they need than by directly talking to them? We don’t think so. Being active on Social Media Platform allows you to know customers’ interests and opinions that you might not otherwise be aware of. This is one of the best research tools available to you.
One of the greatest social media advantages is that it also allows you to analyse the demographics of your consumers. You can get deep insights into who your customers are and can market your product or services accordingly to them.
Your competitors are already increasing their social media activities day by day. If you do not want to lose your customers to them, you need to step into the world of Social Media. The earlier you start, the faster you see the growth in your business.
If you want to train your workforce to leverage the power of Social Media for the benefit of your business, get in touch with us today!
If you know any examples of brands that have benefited a lot from social media, let us know in the comments below.