Just few decades ago, small and medium businesses (SMBs) had it much worse than they do today. The reason behind this is quite simple- social media have changed the game forever. Seeing how social media promotion is often completely free, it has become an extremely cost-effective way of raising your brand awareness.
Furthermore, it has been proven in the past that using social media to boost your sales usually results in great conversion rates. Therefore, here are few things SMBs need to have in mind when using social media in their marketing campaigns.
Just look at the social media marketing statistics for 2016. As of 2016, human population amounts to roughly 7.4 billion people of which 3.4 billion are internet users. Furthermore, 2.3 billion of users are active across social networks. This means that almost all of the people you are trying to reach out to are using the social media, mostly Facebook. Even though Facebook, the flagship of social networks, is on a steady decline amongst the teens and young adults, it still manages to dominate the social media landscape just by the sheer numbers.
Where’s the Money Coming From?
Although social networks may be popular, the number of users alone does not not mean much to a revenue- hungry business owner. What they are concerned about the most are the conversion rates that each of these networks may bring about. In other words, you need to know for sure which platforms drive the most sales.
As you could have guessed, 85% of all orders from social media can be attributed to Facebook alone. On the other hand, when talking about the average value of an order Facebook comes in fourth, right after Polyvore, Instagram and Pinterest. There are some variations depending on the industry though, so for example, Pinterest dominates in the antiques and collectibles purchases, while YouTube reigns supreme when it comes to digital products.
Competition is Fierce
It would be insincere to say that one can just make a few profiles, organize a few pages and have immediate return on investment. In order to succeed, one must have clear goals and course of action planned out in advance. Before one even starts paving their way to success, they should do a research on their target audience first. Afterwards, they need to discover their brand’s most effective keywords. They need to find an interesting way to present the brand to potential customers as well. One of the ways to get people engaged with the brand is by creating an application for customer/ brand interaction.
Social Media and Apps
Currently, there are approximately 2 billion active social network and mobile users in the world. Most (if not all) of them are accustomed to accessing social networks via applications, which means that building an app might be the right business move for achieving engagement.
Optimizing a website for mobile users is also absolutely necessary, but proved not to be nearly as effective. The biggest con of this method is that people are afraid of coding, but then again, one can always find an app maker that works without it. This approach allows for codeless app building, it is visual, and operates on a point-and-click basis.
From all of this, it is more than clear that utilization of social media for SMBs is no longer optional in 2016. Not so long a time ago, Bill Gates said that soon there will be two types of businesses in the world: those on the internet and those without work whatsoever. Today, a similar statement could be applied to social networks as well.