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3 Reasons You Should Switch Your Budget To Social Media Marketing

3 Reasons You Should Switch Your Budget To Social Media Marketing - CEOWORLD magazine

Pivoting to social media can feel overwhelming, but it doesn’t have to. Whether you’ve been in the game a long time, or you’re starting a brand new company, it’s expected that brands have a social media presence these days. It’s important to have a public face on the internet, for communicating with new and existing clients.

And it can feel strange to think spending money on free platforms as a smart thing to do. But a social media marketing expert can really give your company and your online campaigns a boost, and help you reach new heights.

Cost versus benefit

A study found that businesses spend an average of 12% of their marketing budget on social media. Making space in your marketing budget to accommodate just this amount may still have a profound impact on your brand’s reach.

A social media manager with the right skills and expertise will be able to use this portion of your budget to create a meaningful connection with your customer base. This might include things such as targeted ads on Facebook, or sponsored posts on Twitter. Some of that budget may go towards getting an Instagram influencer on side. You social media manager will keep you right.

The statistics speak for themselves: after following a brand on social media, the majority (up to 90%) of customers visit their website and almost as many follow up by making a purchase. Getting customers to follow your accounts is so good for business.

You may be surprised to see just what value you get for 10 to 15% of your overall marketing budget. While print ads can be costly, a well-timed post on the right platform is almost free. It just takes the right person in the role, keeping an eye on what’s going on, to make sure to take advantage of any opportunities that may arise.

Real-time statistical analysis

Social media marketing gives a brand a real degree of flexibility. It’s possible to see that a trend is rising on the Monday and have a brilliant, appropriate response ready to go on the Tuesday, as long as you have the right team in place.

And the right team will include someone who is able to analyse the data available to see what works best with your customers. This includes knowing just when to post to hit the biggest audience, whether that’s for morning tea break or during the commute home.

Software and platforms such as Hootsuite can help social media managers with a rounded view of what’s going on and how they can improve their approach to social media.

Making space in your budget for this process is what makes it work. It’s what separates a successful social media campaign from a failed one. Plenty of brands have had a bad time on social media after not putting enough care and consideration into their posts.

When asked why they unfollowed brands, around 49% of customers said it was due to poor customer service. What you post is important too: 45% said they didn’t like irrelevant content, and 45% were also unhappy if the main content posted was advertising.

This shows that what social media users want from their brands is interesting content, appropriate to the account it is posted from, alongside great customer service and support. And while that may sound like the basics, it’s easy to make a mis-step. That’s why allocating a good portion of your marketing budget to social media marketing, and trusting in your social media manager, will yield the best results.

Return on investment

When looking at marketing tactics, business owners like to talk about return on investment (ROI). With social media marketing, you might be surprised to find that the ROI is high. It is a cost-effective way of reaching out to your customers.

Measuring the impact of marketing via social media is best done not just by looking at sales, but by taking other actions into account. These include signing up for newsletters and increasing email subscriptions, sharing your posts on their own feeds, or reading your blogs. These are all ways in which you build your connection with your customers and potential customers, and lead to increased satisfaction and brand loyalty.

That’s a return on investment we can get behind!

To sum up

Hiring a social media marketing expert, a freelancer, consultant or working with an agency, is the first step in addressing your budget for social media marketing. There are tools that you’ll need to invest in to get the most out of your social media platforms. With the right social media marketer.

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