Is Social Media Marketing Right for Your Business?

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Whenever a new marketing channel comes along, there are always marketers and business owners who immediately jump on the bandwagon. Sometimes this works out in their favor, but other times, they just wind up wasting their time and energy on a tactic that is short-lived. On the other hand, some marketers and business owners are hesitant to invest in any channel outside their tried-and-true methods.

If you’re in the latter category, you may be on the fence about social media marketing—and that’s completely understandable. Marketing on social platforms has exploded in popularity in the past few years, but popularity isn’t always the best metric to base business decisions on.

So if you’re one of the many business owners wondering, “Is social media marketing right for my business?” you’ve come to the right place.

We have a video on how B2B companies can use social media, so check it out if you want to learn how to grow your B2B business through social media

What are the benefits of social media marketing?

One of the reasons so many businesses have implemented social media marketing is because it can help them reach a number of goals simultaneously. It’s an effective channel in its own right, but it can also boost other channels to make them even more effective.

Some of the most common reason to use social media services include:

Brand building

Wherever your business is in a potential customer’s mind, social media can make it more prominent. Those who have never heard of your company may be introduced through a post in their news feed when one of their friends likes it, and those who have heard your name in passing have the opportunity to learn more about your products and services on a platform they already spend time on.

Website traffic

Your website is your online home, and almost all of your Internet marketing efforts are intended to drive traffic to it. And although we don’t recommend using overly “salesy” techniques or language on social platforms, your profiles and some posts should include links to it. When mixed with the right amount of brand-building content, these links can drive qualified traffic from people who already like and trust your business. If you want to be sure that you consistently create and post beneficial content that your users will love, try creating a social media content calendar!

Lower marketing costs

No marketing activity is free, but social media marketing costs much less than traditional marketing methods. What’s more, a loyal customer can introduce your business to new audiences and expand your reach for no cost at all.

Increased sales

Today’s consumers prefer to purchase from businesses that they like and trust, and social media can be a great way to build those positive associations. As a result, social media can lead to an increase in sales—even if the sales don’t appear to be directly related to a specific platform. More than half of all businesses that have used social media for more than two years reported an increase in sales.

How can you tell if social media marketing is right for your business?

Because social media is so versatile and can help achieve a wide range of business objectives, it’s hard to imagine a scenario where it would be an impediment to a business. However, it does require a significant investment of time and resources, so it’s wise to wait until you have enough of both before taking on the task. It may also help to ask yourself the following questions.

What are my business goals?

You can accomplish a lot with social media, but certain tactics are better at achieving some goals than others.

  • Linking to blog posts and articles or posting stories of past successes can help you raise awareness of your business and establish credibility among potential customers.
  • If you want to increase loyalty and engagement, you might try hosting a contest or inviting followers to submit content.
  • If your goals are purely financial, paid ads with special discounts and promotions are likely your best bet.

One you’ve defined your marketing goals, you’ll have a better sense of how social media fits into your marketing plan and how large a role it should play.