A Simple Guide on How to Harness the Power of Social Media
The internet landscape is rapidly changing in the backdrop of cutting-edge innovations. Over the last decade, more businesses have adopted internet marketing to reach the growing number of users on this platform. The days when print and electronic media ruled the marketing world are long gone and instead, the internet has become the new frontier. This new marketing platform has spawned a new sphere of marketing in form of social media.
While internet usage has always been social, the emergence of social media networks such as Facebook, MySpace, Google+ and LinkedIn among others has revolutionized modern communication. Business owners are now leveraging the popularity of social media as a branding and marketing tool. In fact, any business which does not have a social media presence is as good as dead.
This is how powerful social media has become over the last few years. While these networks were primarily started to create easier interaction between family and friends, things have now changed and social media is now an integral part of modern business marketing strategies.
Social Media Statistics
- Facebook: This is the most popular social media network with over 86 billion monthly active users (MAUs) and 1.15 billion daily active users (DAUs). 43% of marketers interviewed by Forrester Research say Facebook is integral in their marketing strategies.
- Twitter: Launched by Jack Dorsey, Evan Williams, Biz Stone, and Noah Glass in 2006, Twitter now boasts 310 million monthly active users (MAUs), over 1.3 billion accounts, 80% mobile users and 65.8% of US companies use the platform for marketing.
- WhatsApp: This social media app founded in 2009 before being bought by Facebook boasts over 1 billion users, 100 million calls, and 1 million new registered users daily.
- Instagram: This is one of the newer kids on the block but still boasts an impressive 500 million monthly active users (MAUs), over 40 billion photos shared by users, over 4.2 billion likes daily, and 43% of U.S brands have embraced it for branding.
- LinkedIn: This is one of the most popular professional social media platforms and boasts over 450 million users with 2 new members joining every second. 106 million unique users visit this platform and the social network owns 4% of global social sharing.
These are just a few of the hundreds of social media networks including Snapchat, YouTube, MySpace, Periscope, Wechat, Weibo, Flickr, Airbnb, and Tumblr among others. All these social networks have unique users which any brand can target in order to boost its operations.
Benefits of Social Media for Business
Both big and small businesses have a lot to gain from social media marketing. The power of social media cannot be ignored in the contemporary business world. Below are some highlights on how social media can turn around the fortunes of your business venture:
- Enhancing brand recognition: The more brand mentions you enjoy on social media the more recognizable it becomes. It is easier for new customers to relate to a brand that is in the limelight than one that is not.
- Building brand loyalty: Social media networks allow easier engagement with both new and old customers. It is easier to give real-time feedback which builds customer loyalty. A study by Convince & Convert shows that 52% of customers following a brand on social media feel closer to it and remain loyal.
- Increased conversion: Whether you are launching a new product, rebranding or introducing a promotional campaign, there is no better place to get leads than on social media. Your message will be rapidly shared and this increases the chances of conversion. Positive interactions on social media increase sales conversion.
- Reducing marketing costs: Implementing a social media marketing campaign is cheaper compared to other inbound marketing options such as print. There are multiple platforms to use. A study by HubSpot shows 84% of marketers find this strategy less time-consuming and more affordable.
- Boosting search engine ranking: With social media networks, it is easy to attract relevant traffic and the fact that Google is now using social media content in its ranking signals makes this a great SEO tool.
There are many other reasons to harness the power of social media including building brand authority, enhancing customer experiences, getting better customer insight, faster sharing of content, and building invaluable relations among others. The bottom line is that your business must leverage the power of social media in order to remain competitive in its niche.
Strategies for Harnessing the Power of Social Media
With this hindsight, it now behooves upon you to build a strategy aimed at exploiting the potential latent in social media. You might already have a strategy on social media marketing in place but it is advisable to always integrate new thinking to fully leverage the available potential.
Below are some of the tips you can incorporate into your social media marketing strategy:
- Build a roadmap: You can’t start a journey if you don’t know your strategy. This maxim should apply when you are planning your social media campaign. To fully leverage the power of social media, you have to set objectives; for instance, do you want to popularize your brand or products, or are you after reputation management? You should have both short-term and long-term goals which will guide your campaign.
- Invest in media training: While your staff might be well versed in using social media, it is important to appreciate that using these networks for business is a different kettle of fish altogether. Your team will learn how to influence using social media and tips on avoiding social media pitfalls. You will also learn how to build professional networks and how to manage them. Such training also helps you identify influencers in your niche and also learn how you can use them to build your online presence.
- Identify the right networks: Not all social media networks will work for your brand. The network you choose depends on your niche, target audience and your objective. Always find a social media platform that helps you reach your audience easily.
There you have it; social media can revolutionize your business by enabling you to grow your brand, boost traffic, increase conversion and cut marketing costs. It is the ultimate marketing strategy.