Can Social Media Marketing help your business? 8 Pros and 3 Cons.
For the past decade, social media has gotten a lot of attention. Businesses of all sizes are asking themselves if they would benefit by entering the social arena. Many are time poor and constrained by a limited marketing budget. They wonder if investing in social media will have a solid financial return. The answer? It depends. It hinges on your business and the social media platform.
There are dozens of online social platforms- Facebook, Twitter, Instagram and YouTube remain giants in the field. Snapchat, Pinterest, Tumblr, LinkedIn, Reddit, and Behance are all social platforms gaining ground. The change is monumental and happens swiftly. What does a business need to do to stay relent in today’s ever-changing digital landscape?
First, let us be clear. Social media is not obligatory for every business to be (or stay) successful. Having a digital presence, making sure your website is well designed, user-friendly, and searchable is critical for every business. Social media is different. The success of a social media campaign depends on the creativity and imagination used, as well as the type of business. Some business are inherently social, others are inherently less so. For some businesses, ad spend will have increased conversions on other social platforms. For others, going social is dynamite.
In a poll reported by Hubspot, 92% of marketers said that social media generated more exposure to their businesses and 80% of marketers said the amount of traffic to their website increased through the use of social media. Social is generating noise for a reason.
Why Invest in Social Media Marketing:
- Increased customer feedback
- Better customer service
- Distribute content easily through multiple channels
- Increased influence in the industry- with 50,000 fans, you’re a formidable force
- Increased Search Engine Optimisation
- Increased website traffic
- Widen the entrance into the sales funnel
- Cost effective brand awareness
The Cons: There is no such thing as a free lunch.
There are limits to what social can achieve. First of all, social is not free. For most companies, increasing followers will come only through a well-planned marketing plan and ad spend. Additionally, it can be time-consuming. Unlike a website, social channels need to be feed and monitored regularly. The expectation is that social will be updated regularly, sometimes daily, to remain relevant. Generating content takes time and resources.
Why social can be dangerous.
The user is king. The audience decides if they will raise you up and cause your content to go viral. Alternatively, if the user has been offended or feels they have been mistreated, they will pull you down and feed you to the dogs. A user can write reviews and comment on your social page 24/7. Comments and reviews increase consumer dialogue, brand awareness, and loyalty. Comments must be carefully monitored prevent a tarnished image.
With all that said, a Facebook Ad Campaign can dramatically increase brand awareness and traffic to your website for a nominal sum. Plus, although it takes time and commitment to get 20,000 Likes on your Facebook page, once you have a large fan base, organic and free publicity is at your fingertips.
If you would like to explore the feasibility of Social Media Marketing (SMM) for your company, let us know! Our seasoned social media experts will be happy to discuss, during a complimentary consultation, the specific pros and cons of diverse social platforms for your business.