Companies are increasing their investments and marketing spend in social media more than ever. Many companies with these investments are seeking ways for more affordable / low cost social media marketing. Here are some ways to take a measured, cost-effective, approach.
Many marketers have realized that their companies don’t need to be on every social media platform. You just need to establish a strong presence on the few that best fit your business.
How do you determine that? For many companies, the answer is clear: Go where your competitors and customers are most active. You may need to pick a few different platforms and use them regularly until one or two emerge as clear favorites.
Simply getting a customer to “like” or “follow” your company may not generate sales or brand exposure. For example, whether Facebook posts will reach users’ “friends” is a function of the platform’s proprietary algorithm. And with so much news and other content flooding customers’ feeds, your updates may get lost in the shuffle.
In addition to posting on social media, your business can buy ads. Social media platforms sell ads (called “native ads”) that look like normal posts, not paid advertisements, and may appear at the top of customers’ feeds. Many businesses are buying these ads, but investing heavily in advertising reduces the cost advantages of social media marketing. Also, these ads may annoy some users.
Quantifying the results of social media marketing initiatives has historically been problematic. It’s easy to identify, at any given time, how many people follow you on Twitter or Instagram, but how many are likely to buy your products or services?
Software developers have responded by creating analytics programs that identify which platforms generate the most traffic to your website — and even more sophisticated programs that track an individual customer’s behaviors after viewing your posts. But, as with any software purchase, approach this one carefully. Ensure your employees will be able to use all necessary features and that you’ll be able to disseminate the data effectively.
When the time is right, your social media strategy may be for more than just marketing. The most direct way to link social media to revenue is to allow customers to buy products directly on your social media page or app, rather than requiring them to click through to your website or call a salesperson. Of course, this functionality requires an upfront investment in secure e-commerce technology.
Some companies are also using social media to facilitate customer service. People tend to appreciate the quick response, but some complaints may be too sensitive or complicated to discuss publicly. So, it’s generally best to allow employees to respond to simpler questions online but train them to channel more complex issues to phone calls, emails or private messages.
Cost-effective and low-cost social media marketing is possible and it can build brand awareness and customer loyalty. But it’s also an ever-evolving sphere that can become overwhelming. Contact us to learn how we can help you put together a good marketing plan with strong sales figures. We will help you learn how to implement a social media strategy, along with measuring and managing your financial investment.