Most social media sites that are prevalent on the internet today started out with a simple premise: You could post your cat or food pictures, comment on your friend’s posts and perhaps send a private message. There wasn’t much more to it. However, as user counts grew into the hundreds of millions, the social media landscape has changed significantly.
These days, there are more features on Facebook, Twitter, and Instagram than you can wrap your head around. Most importantly are those that make it easier for businesses to do what is now considered an essential component of any marketing strategy, which is to advertise their products or services.
Here’s why social media is essential for businesses in 2019 and beyond.
Rich Advertising Opportunities
According to a report released by Statista, spending on display advertising in social media has steadily risen from $2.9 billion in 2012 to $6.8 billion in 2017. It’s clear that social media ads are here to stay – and for good reason. They’re effective, affordable, and perhaps most importantly, targeted.
Knowing whether your ads are working or not is key to adjusting your strategies in the future. With the real-time performance analysis that most social media hubs offer, you can keep tabs on just how well your ad campaign is going. Additionally, you can change your ads on the fly instead of having to wait and pay for a new campaign.
If you look at any traditional advertising method, whether it’s television, newspaper or radio, it’s always a one-way system. You get the word out and hope that someone listens. With social media, it’s the complete opposite case. You have the ability to communicate with every single one of your customers.
This provides immense value, as you can gain insights and feedback about your business. Even if it isn’t positive feedback, there’s something to be learned from every customer. Provided you ensure that every issue or complaint is handled properly, you can learn a lot from both your target audience and your competitors through social media.
Social media is a great way to drive traffic to your website. Many processes work hand-in-hand to benefit both sides of your business. For example, you can increase the quality of your social media profiles by sharing links to your blog posts. This gives your audience valuable information and puts your business in a positive light.
Google’s search engine ranking algorithms also happen to favor businesses that have a more prominent presence on the internet. If you have a few social media profiles in addition to a Google My Business and Yelp listing, your website will benefit from higher traffic and increased leads.
With the ability to share whatever you want with your followers, social media makes for a great place to post special offers, promos, and discounts.
If you garner a large enough following, you can then leverage this and increase sales by posting unique special offers that are only available through your social media channels.
This increases engagement with your business and improves customer loyalty while driving more traffic to both your social media profiles and website.
Easy to Learn
Unlike more complex topics such as web development or even search engine optimization, social media marketing is fairly straightforward and easy to understand. But even if you don’t have the slightest clue as to what’s going on, you can always hire a social media marketer to handle operations.
That said, one aspect of business that you do need to understand is running a business itself. While a number of online resources can help you get a grip of the basics, there’s not exactly a solid path to follow.
Instead, you can consider learning through a comprehensive online MBA course that offers not only the knowledge that you need as a business owner but also an esteemed certification that you can use in the future. You can choose from a variety of concentrations including accounting, finance, and business intelligence.
This is especially important if your brand only exists online. Studies show that people are wary of doing business with companies who don’t have a tangible presence. Since social media allows you to connect with your customers, you can benefit from improving the trust that people have in your business.
A strong social media presence will take some time to develop, but once you have yourself established on the major channels, your business will flourish. Be sure to take the time to engage with your followers, post high-quality content, and develop real, meaningful relationships with your customers.