Have you ever wondered why all businesses are using social media for marketing?
Social media, in its early days, was used only for sharing personal stories and live videos, but now it is extensively used by businesses and brands to promote their service and products online. Inevitably social media is important for marketing.
Do you know there are several brands out there in the market that started their entire business on social media and are thriving? Social media will continue to be an important marketing strategy, and companies can always find ways to advance their approach.
- Learn what Businesses are Missing Out on by Not Using Social Media.
- The real Importance of Social Media in Business Marketing.
- Case study of Bewakoof brand’s Social Media Reach.
Disadvantages of not having social media
So, what do the social media platforms have, to offer for business marketing, anyway? The answer to this lies in the volume of people who use social media and the current number is 3.2 billion people userbase approximately.
It does not really matter whether you are a small business or a mega corporation. Those businesses that are not integrating social media into their marketing strategy are missing out on a big chunk of organic sales and paid ad sales.
There are billions and gazillions of examples of brands that were built solely on social media. The soul store, Bewakoof clothing, Fashionova literally started just on Instagram.
7 reasons why social media is important for marketing?
1. Reach your target audience
It can be tricky for businesses to understand the target audience, but social media platforms can help understand and reach the right audience in the long term. British Museum extended its marketing in two streams for social media, one for new content and another one for monitoring, engaging, and reporting on audience insights.
This resulted in 126% more audience engagement and gained 2M+ followers on all platforms.
2. Consumer Data
In current times, data is key, and data is everything. Social media gathers detailed data about the audience that follows or interacts in its accounts. That helps businesses to analyse the audience’s buying behaviour and tendencies, which can be immensely beneficial in marketing efforts.
3. Long-term Partnership
Social media helps to create long-term relationships with their customers through daily content posting and interactions with the audience. It promotes a sense of connection and familiarity in people for account pages.
4. Organic Sales
People follow other accounts to consume content that they can enjoy. Through consuming social media content, they get information about brands, their products, how to use them, etc. Because of online connections, when users like some products and brands, they purchase products directly through social media. Hence generating organic sales for brands.
USA’s Galaxy Theatres created separate Instagram accounts for each theatre location to promote themselves organically. Galaxy theatre chain’s ticket sales increased by 72%.
5. Brand Collaboration
On Instagram alone, there are 80000+ posts for #brandcollaboration. Businesses can collaborate with others brands and influencers on every social media platform and can reach more customers.
Levi’s & Pinterest collaborated and created a joint campaign called– “Styled by Levi’s”
6. Optimised Ads
Social media platforms like; Facebook, Instagram, YouTube, and LinkedIn run ads too. Which gives better ROI than traditional advertising.
But that’s not the best part. The best part is that you can measure the detailed results of social media campaigns and improvise future campaigns based on the past campaigns’ measured data.
Vamplets– a baby vampire doll business, gained 300%+ ROI from running ads on Facebook.
7. Social Listening
Earlier, there used to be a disconnect between brands and customers in terms of receiving feedback and calculating public sentiment.
There are many platforms, such as Awario, where businesses can listen to what people are saying about their brands, both positive and negative, across all social media platforms. All of it gets updated in near real-time.
Fitbit’s famous ‘Reminders to Move’ feature was inspired by customers’ reviews on social listening platforms. Through comprehensive social listening, they found what customers were looking for, and they introduced this feature.
Case Study of Bewakoof clothing brand
We are all aware of Instagram and Facebook shops. They are driving major business.
Bewakoof clothing brand’s entire business is online. They have a reach of 1.7 million people.
It made them a 28.33 million dollar business in FY2020. Those days are gone when the business model used to sell offline only or customer retargeting was done by giving discounts or credits.
Now it is done online; It is done on Social Media Platforms.
Social media has become an influential and important virtual platform for all business owners. The reason being its reach to thousands of people across the globe.
We all know that social media platforms like YouTube are creating new social media stars and also adding new dimensions to marketing, like influencer marketing.
Social media drives massive sales and brand awareness for brands and businesses directly through content marketing or through paid marketing like ads and influencer marketing.
Also Read: Cool Business Marketing Strategies
Frequently Asked Questions (FAQs)
What is the difference between marketing and sales?
Marketing is the tool that raises public awareness of products and services. But selling is the end goal in which potential customers convert into real customers and the product is sold.
What are 3 examples of marketing activities?
2. Social media marketing
3. Brand alliance
What are the 4 main types of marketing?
Product, price, place, and promotion are 4 main types of marketing, also known as the marketing mix.
What are some examples of great marketing?
1. Starbucks writing wrong names on cups instigated social media buzz.
2. Nike’s tagline, Just Do It.
3. Sephora maximises consumer retention through loyalty programs.
4. Starbucks made drinking coffee a luxury experience and lifestyle.