Why You Need a Social Media Marketing Strategy for Your Business

Why You Need a Social Media Marketing Strategy for Your Business
Social media has completely changed that marketing landscape.
Long gone are the days where businesses broadcast their message though advertisements and just hoped that they are being received in the way intended. Social media has opened up two way communication between businesses and their audience in a way never seen before. There is no denying that doing social media properly is time consuming and takes a lot of patience and knowledge. So professionals often ask themselves – why bother? In this article we take a look at why you need social media for your business.

Free marketing 

How many worthwhile marketing methods are there that require no or very little financial investment? Not many, but social media is one. Although time and effort will be of course be required to create compelling content, social is one of the few methods that is accessible to all businesses regardless of size or profitability – this massively levels the playing field. With businesses constantly trying to increase profitability, investing time in social media before pursuing more expensive methods is a no brainer. 

Grow reach & increase brand awareness

Recent statistics have shown that social media has 2.62 billion users worldwide in 2018. With so many people using social media, businesses that are not tapping into this in some way are missing a trick. You would be hard pushed to find a business whose customers or potential customers do not have some presence on social media. By getting your brand on social and using tools such as hashtags, creating shareable content and engaging with others you are ultimately making your brand discoverable to this vast audience. 

Communicate with customers

As we have already discussed, social media opens a two way channel between businesses and their customers. This brings a number of advantages. Firstly, it allows businesses to learn directly from those that are interested in them. For example, social media allows businesses to get real time feedback on their products and services and act on that information quickly. This effectively shortens the feedback loop and can make businesses substantially more efficient. This process also lets businesses show that they care about their customers and reply directly to them. In markets where customer increasingly demand ethical businesses this can become a serious competitive advantage.  Finally, social media lets your business communicate its personality to customers. This is often difficult in direct advertising, but facilitated by the two way conversation nature of social.

Learn about your competitors 

Regardless of the industry you work in it is likely that at least some of your competitors use social media. By having a presence on the various platforms available you can keep an eye on what your competition are doing, how they are interacting with their customers and ultimately use it as inspiration for your own social media and other marketing methods. This article has shown you exactly why, as a business, you should be using social media. As a cost effective method of reaching your target audience there is no excuse to be passing up on this prime opportunity
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