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Effectiveness of Social Media as a Marketing tool

Introduction

Social media is among the most significant and more recent E-marketing tools in the current generation. It offers customer accessibility in order to know their needs, interests, and what affects their purchasing decisions. Social media refers to websites connecting users worldwide who share the same interest, hobbies, and points of view. Twitter, YouTube, and Facebook are some of the prominent examples of social media platforms popular with a large number of consumers. The tools are used as a medium of exchanging ideas and reviewing certain products and services, or a particular brand to get information, formation of ideas, and make the right purchasing decisions. Social media is a modern electronic marketing tool different from other forms of traditional marketing. As such, marketing through social media today is a broad, fast, cheap, and effective marketing channel in which consumers can easily obtain information and feature of goods they have an interest in. This helps them complete their sales and purchasing process without having to go places where those goods and items are sold. Hence, social media marketing is one type of internet marketing that utilizes social networking sites. The number of internet users has significantly increased worldwide.

Effectiveness of Social Media as a Marketing tool

Social media marketing remains an important online marketing tool where companies market their brands, products, or services through social media platforms such as Twitter, Facebook, YouTube, LinkedIn among others. Recent scientific studies have confirmed how social media networks are important in the marketing of products and services for small businesses. From the studies, 46% of all internet users rely on social networks in making purchasing decisions. If your company considers these networks in its digital combination, the proliferation and number of reaches for your product and services could be immense. The following points demonstrate the role of social media as a key marketing tool:-

  1. Social media is inexpensive and effective. It works well for small businesses because it’s inexpensive and can reach a large target audience promptly and with minimal effort.
  2. Branding is undertaken better via social media. Essentially, social media marketing remains one of the best tools that businesses can use to brand themselves. 83% of all customers would prefer connecting to brands through Facebook while 53 percent on Twitter.
  3. Customer acquisitions are easier when done via social media. About half of the population in the world today is registered on various social media sites. It means the chance to acquire new customers are higher on social media websites. Social media plays a critical role in the acquisition of customers to your businesses.  
  4. Social media facilitates direct interaction with customers. Businesses through social media can directly interact with clients. Small businesses attract customers through social media engagements. This can be achieved through interactive methods such as polls, Questions and Answers, etc.

Moreover, social media is an effective marketing tool because:-

  • It can help generate more sales/leads. A recent study by Socialmediatoday showed more than 71 percent of all social media users would most likely buy products from those brands with social media websites. In essence, social media can produce more than double the number of marketing leads compared to other marketing methods. Again, in social media, the lead-to-close rate is 100% higher.
  • It increases brand recognition. All opportunities that can syndicate your content as a marketer and increase visibility remain valuable. Again, social media network is the news channel of your brand’s content and voice. It makes the brand accessible to new clients as well as familiar or recognizable to the current customers.
  • It improves brand loyalty. Those brands engaging on social media often have higher brand loyalty from consumers. As such your company should take that advantage of various tools offered through social media to connect to the audience. An open and strategic social media approach can be influential when morphing up consumers to become loyal.
  • Offers better opportunities for conversion. Each post done on social media platforms is another chance to convert customers. After building a substantial following, you will have access to the new, recent, and even old customers. It is an opportunity to interact with all. Every image, blog post, comment, and video you have shared provides an opportunity for someone to respond or react upon. Consequently, every reaction can lead to a site visit, and eventually a conversion. However, interactions may not all result in conversion but each positive reaction increases the likelihood that conversion will eventually happen.
  • Leads to a higher conversion rate. Social media can result in higher conversion rates because of its humanization element. Brands are known to become humanized through interactions in social media channels. In the channels, brands act like people, which is significant since people prefer a business with others, but not companies. Additionally, social media records a 100% more leads-to-close rate compared to outbound marketing. Further, substantial following on social media improves credibility and trust people have in a brand. Therefore, building an audience in social media improves the conversion rate on your current or the existing traffic.
  • Increase in inbound traffic. With no social media, your inbound traffic would be limited to those who know your brand or people in search of keywords you rank for. Any profile added on social media is a new path to your site and content syndicated on your profile is an opportunity towards getting new visitors. And the more you syndicate quality content on social media, the more inbound traffic you will generate. Increased traffic implies more leads as well as conversions.

Conclusion

Generally, consumers admire or belong to different groups online and the groups can change their behavior as they make purchasing decisions. Joint decision-making implies consumers make their decisions based on the environment they interact with such as friends, family, and even co-workers. Traditionally, consumers make purchasing decisions based on information from the mass media for example newspaper, advertising, and television comment. Today, the online social network has the power to influence customer purchasing decisions. They can search for the information they require and share experiences on products and services. Again, consumers buy based on social media recommendations.

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