Social Media is changing the way we communicate and the way we are perceived, both positively and negatively. Every time you post a photo, or update your status, you are contributing to your own digital footprint and personal brand. It has grown from being a space for personal interaction into an exciting MARKETING CHANNEL for business; if used wisely, social media can be a powerful business tool available to business of all sizes.
Dan Gilbert, Founder/Chairman of Quicken Loans Owner of the Cleveland Cavaliers, says “those who seem to be motivated by taking a great idea and turning it into reality are the ones who end up acquiring significant wealth.” Social media has become essential for any business to compete successfully in the marketplace.
Research shows that social media delivers measurable results in BRANDING, LEADS and SALES for any business that is consistent in creatively using the social media as a major source of marketing, social media helps such business to reach a large number of people at a low cost and give them an edge over other businesses not using the social media heavily. The world of social media networks is dynamic, constantly changing and making big impact on small businesses. Socialmediatoday reports that Lead-to-close rate is 100% on social media than traditional marketing methods and that 80% of small businesses use social media websites for monitoring and collecting information about competitors to their businesses.
- 80% of customers on social networks prefer to connect themselves to brands through Facebook (Source: Socialmediatoday).
- 53% of small businesses use social media as an engagement tool for providing 2-way conversation customer support (Source: Socialmediatoday).
- It might also be surprising to know that 86% of social referrals are done by Facebook, while 11% and 3% are done by Pinterest and Twitter respectively (Source: Socialmediatoday).
The above report shows that Social Media marketing is getting increasingly popular because of its ability to connect and reach customers virtually, within less time, and less effort. eMarketer reported that 24% of small businesses have integrated social media in a structured way into their business. So as a business owner , the following is how you can create a structure for the integration of Social media to grow your business.
- Understand your audience,
- Create more effective content to engage and grow your customer base, and
- Frequently measure social media’s impact on your business goals for re-strategizing.
Now that you have this much information about social media marketing, it’s time to go evaluate your current performance across all social media platforms, make a plan for your new commitment, and continue to take advantage of the great idea and turn it into reality for your business.