Benefits of Social Media Marketing
2023 was a turnaround year for everyone. COVID changed everything and we are slowly getting into a new normal. But during the phase of COVID, a new way was adopted widely-The Digital Way. Everything was digital and most of them found it as an easy way of doing several things. As everything changed, the marketing industry also had an upshift! Social Media Marketing was widely adopted and preferred more than Traditional Marketing. And the future of Social Media Marketing is thereby written!
10 Key Benefits of Social Media Marketing
1. Grow Your Audience Using Social Media
Almost 63.5% of people in the world use the internet and it’s increasing daily. Nowadays we can also gather information like what people like and what they want. The impact owill be huge and can help the business at a large. The thumb rule of business is always same. Business grow when the demand exceeds supply.
2. Social Media Content Creation & Promotion
Social media is an important way of promoting the contents of your business.
Nowadays people spend a considerable amount of time daily on social media. So clickbaits will definitbely reqceive large amount of attention
3. Build Brand Awareness Using Different Social Media Channels
Traditional way of brand awareness was through TV’s, Newspapers, Boardings etc.. But the amount for those was outrageous. Nowadays with Social Media Marketing, the brand could reach a wider audience too at a minimal cost.
4. Referral Increase Using Social Media Networks
Nowadays most of the people refer to the one they like to their friends! So more referral traffic will be generated with growing client base.Referrals are mostly d one via contests on social media.
5. Generate Genuine Leads
Interacting with customers on Social Medias with blogging, posting images and videos not only increases integrity but also generates business leads.
6. Build a Social Media Community
Posting unique contents and interacting with the customers could help the business build a community that stays loyal to it forever! They will always be an asset for the business.
7. Measuring Social Media Marketing Endeavors
You can get a track of the marketing strategies and its implements and how effective that was. It is easy to get a track of the organic engagement, also the paid engagements including paid ads and its results.
8. Keeping your Clients ‘Upto the Minute’
Social Media Marketing can keep your clients up to date! In case you’re planning to release a new product or to make some announcements, social media helps to reach a large set of audience!
9. Trustworthy Communication
Since there is a lot of competition, customers read reviews of all the business many times before approaching the right one. One of the easiest and trustworthy ways of doing this in the present world is through social media and websites. So the websites and social media platforms has to be updated regularly.
10. Easy to reach the Customer Support
In old times, it wasn’t easy to reach customer support. It was a hard task to find the phone number and was also time consuming. Nowadays with the use of the internet, the customer can find the number directly from websites and social media. Customer support can be given to the customers through social media just by having a chat with the Customer Care Executive. A tracking system can be created to listen to the customer complaints and reviews.The only thing to be noted is that, the customer care executive should be helpful, respectful and patient enough to queries of the customers.
Social Media is booming day by day and they’re reaching tons of people. It’s an easy way of reaching a large number of people. The only concern is how?
B2B marketing strategy on Social Media Marketing
How to use B2B marketing strategy on Social Media Marketing?
"Let us help you grow your Business faster by using these B2B Social Media Strategies"
If you are reading this, you are responsible for your company's B2B social media marketing. These strategies are for growth-stage startups, established small businesses, and large complex enterprises.
Your social media strategy should align more with your business goals, and for that, you need more than just content to build a bond with your customers. With longer sale cycles and a less clear path, it is a challenge to determine which B2B strategy can lead to greater success and the best result!
In this social media world, businesses are winning by leveraging their brands to connect with their customers, by using different channels for different stages of the funnel, and by syncing first-party CRM data for paid ads
Here is what we can say about how to build a B2B social media marketing strategy,
First, we need a framework for:
- An effective B2B strategy leverages growth, and reaches and sustains your customer.
- B2B social media goal- different ways to achieve your marketing, customer, success and talent attraction.
- Audience clarity – better clarity to grow, influence and understand your followers.
- B2B social media channel strategy- choose your own social media platform and generates results
- Content strategy- create better content for a purpose and valuable emotions
- Paid & Amplification- A strategic amplification for successful campaigns.
- Implementation and Analysis- Get a better understanding of the execution process, reporting and tools.
- Budget and ROI for B2B social media – Measure your ROI from social media and set the right platform of KPIs that match our budget
- Hiring – About how to outsource it with an agency.
You should define your social media goal by:
Your customers should know who you are, what you do, and how you can help. It is an essential part of the B2B marketing strategy that creates excitement around your people and product, which helps to build a loyal community and funnel new leads. Increase-
- Awareness of new products
- Knowledge of new products
- Purchasing frequency
- Attractiveness of product
Metrics that measure brand awareness:
- Direct traffic- Users can access your website by typing in your URL directly to their browser.
- Mentions – The number of times your brand or product has been mentioned on social media is a benefit for your business. You can count on tagged mentions and mentions without tags.
- Brand search volume- Each time your customer types your brand name on a search engine it becomes a keyword. You can measure the search volume and clicks using google search console.
- Reach – Total number of times people watch to social media posts through Facebook, LinkedIn, Instagram and Twitter will give a possibility to track your reach and give impressions
The algorithm on social media can reward engagement and interactions, which results in the visibility of your content to a larger audience. One of the keys to successful digital marketing is solid engagement. It's often associated with the consideration and interest-building stages of the funnel in content marketing.
You can measure your engagement through:
- Conversion/Comment Rate- The average number of comments and responses for each post. The social feed algorithms will reward your post with comments with an organic reach. A high conversion rate signals meaningful conversations with your audience and requires a brand to add value to your followers.
- Applause Rate- The number of likes and interactions per post
- Amplification / Share Rate- How many times your post has been shared? This metric is powerful as you can understand that your content contains a message that’s worth sharing which results in earned shared rates.
- Video views / Duration- The number of plays for your video and how long the viewer was stuck around. Explains whether or not your video was exciting.
- Clicks Per Post- Measures the number of times the viewer has clicked on your link, which helps to determine if your headline or article was exciting or not.
Lead Generation and Conversions
Demand and lead generation define the first stage of intent on the prospect's path to becoming a customer- the most important aspect of a successful digital marketing program. There is a good chance the B2B marketing team will track demand and lead metrics internally, so social media can be held accountable.
The metrics to measure social media lead-generation efforts:
- Cost Per Lead(CPL)- This metric aggregates for all social networks but works best as a comparison metric across paid campaigns and channels. It helps to calculate approximately how much it costs you to attain one lead. If your CPL is higher than your benchmark then you need to reconsider the channels and approaches.
- Marketing Qualified Leads(MQL)- Ensures you are targeting the right audience and it matches your lead qualifying criteria. Companies have their definition for MQL and SQL.
- Customer Lifetime Value- Predicting the net profit a prospect will generate over some time and assigning a value to each new customer is integral to measuring social media ROI.
- Close Rate Per Channel- A good way to determine which platform generates the best leads for your brand is by carefully examining which are worth pursuing and which aren’t.
- Average Close Rate- It helps you to determine whether or not you are attracting leads with high conversion potential by keeping track of the quality of your lead.
Linking B2B social media goals to Operations
Adds value to other departments in an organization, as social media is a customer-facing channel. Separating those goals, budgets, and resources from marketing/sales is the best practice among them.
- Hiring – acquire new candidates and employees better or faster. The KPIs come from the talent acquisition or HR team to measure social media’s role inapplication pipeline.
- Experience /Service- Solving customers’ problems on social media better or faster. KPIs are set by customer services or customer success teams. It measures social media’s role in closing tickets and retaining customers.
Focus on the most B2B friendly platforms-
- Facebook: B2B markets around ads, also a good hub for employee-centric, non-promotional content.
- Instagram: Ideal for visuals such as infographics, brief how-to and culture-centric content.
- Youtube: Perfect for tutorials, interviews, presentations and commercials.
- Twitter: A prime place to spot trends and interact with customers & business influencers alike.
- LinkedIn: a B2B network known for the thought of leadership content, employee engagement and a robust ad platform.