Social Media Marketing appears to be the latest buzz word for anybody seeking to increase their online existence and sales, however is Social Media Marketing (SMM) all it is cracked up to be?
S.M.M companies are now emerging all over the place nowadays and they are telling anybody that will listen about how extremely crucial social media like Facebook twitter and YouTube are to your service but, for the average small to medium sized company, does marketing to socials media truly measure up to all the hype? Is spending a small fortune on employing a SMM business actually worth it? And has anyone actually done their research study on this prior to they worked with somebody to establish there Facebook business page? Some SMM companies are establishing things like Facebook company pages (which are totally free) for $600 to $1,000 or more and telling their customers that they do not require a website due to the fact that Facebook is the greatest social media worldwide and everyone has a Facebook account. Now while it might hold true that Facebook is the biggest social media network in the world and yes, Facebook's members are potential consumers, the real question is are they in fact purchasing? Social media marketing business are all too pleased to explain the positives of social media like the number of people utilize Facebook or the number of tweets were sent in 2015 and how many individuals enjoy YouTube videos etc. but are you getting the full image? I as soon as sat beside a SMM "expert" at a business workshop who was spruiking to anybody who came within earshot about the amazing benefits of setting up a Facebook service page for small company (with him of course) and selling on Facebook. Intrigued by the previously mentioned "professionals" advice I looked him up on Facebook just to find he had only 11 Facebook friends (not a good start). Being the research nut that I am, I chose to take a great look into SMM in regard to selling to see if it really worked, who did it work for and if it did why did Social Media Marketing work for them? And should company rely so greatly on socials media for sales?
As a web developer I was continuously (and now progressively) confronted with a number of social networking difficulties when potential customers would say that having a website sounds great but they had a Facebook business page and had actually been informed by numerous sources (the ever present yet confidential "they") that social networks were the thing to do, but after discussing their needs it became rather clear that those potential customers didn't actually understand why they required social networks or SMM to produce online sales, They just wanted it. Well it's simple really due to the fact that social media is Social Media, and social Networks are Social Networks they are not company media and organisation networks (that would be more like LinkedIn). In a current study done by the IBM Institute for Service Value around 55% of all social media users stated that they do not engage with brand names over social media at all and just around 23% in fact actively use social media to engage with brands.
So how do you use social media marketing? And is it even worth doing?
Well firstly I would say that having a well enhanced website is still going to bring you even more company that social media for the most parts especially if you are a little to medium sized regional business due to the fact that much more people are going to key in "hair stylist Port Macquarie" into an online search engine like Google, Yahoo and Bing than they ever will on any Social Media Website and if you don't have a website you're losing out on all of that possible business. Nevertheless despite all the (not so excellent) statistics I still think it is still a smart idea for business to use social media simply not in the same way that a lot of SMM experts are today, Why? Since it's plainly not working in the method they claim it does. Basically SMM Companies and Business as a whole looked at socials media like Facebook as a fresh market ripe for the selecting and when Facebook began getting users measured by the millions PayPal co-founder Peter Thiel invested US$ 500,000 for 7% of the business (in June 2004) and because them a few equity capital firms have actually made investments into Facebook and in October 2007, Microsoft revealed that it had actually purchased a 1.6% share of Facebook for $240 million. Given that Facebook's simple starts up until now (2012) both SMM Companies and Organisation have failed to truly capitalise on the big number of Facebook users online. The reality is numbers does not equivalent purchasers. Is it in a Social Media Marketing business's best interest to talk social media networks up? Absolutely. Is it in a Social Media Network like Facebook's best interests for people to believe that business can offer en masse by advertising and marketing with them? Of course it is. In early 2012, Facebook revealed that its revenues had leapt 65% to $1 billion in the previous year as its earnings which is mainly from advertising had jumped practically 90% to $3.71 billion so plainly the concept of SMM is working out for them but it is exercising for you? Well ... statistically no, however that does not always suggest that it never will.
One of the biggest issues service face with social networks and SMM is perception. The primary reason most individuals give for connecting with brands or business on social media is to receive discounts, yet the brand names and service themselves believe the main factor people engage with them on social media is to learn about brand-new products. The majority of companies believe social media will increase advocacy, however only 38 % of consumers concur.
If they want to see some sort of outcome from it, business require to discover more innovative ways to connect with social media. There were some excellent efforts displayed in the IBM research study of companies that had gotten some sort of a handle on the best ways to utilize social media to their benefit, bearing in mind that when asked what they do when they communicate with services or brands by means of social media, consumers note "getting discounts or discount coupons" and "purchasing product or services" as the top 2 activities, respectively an U.S ice cream company called Cold Stone Creamery used discounts on their items on their Facebook page. Alternatively there is a great program released by Best Purchases in the U.S called Twelpforce where workers can respond to consumer's concerns via Twitter. With both Cold Stone Creamery and Twelpforce the advantage is clearly in the favour of the great trick & the prospective consumer to social media marketing is to sell without trying to offer (or appearing like your selling) unfortunately most social media marketing is focused the wrong way.
Constructing a concrete purchaser to consumer relationship by means of social media is difficult and probably the most benefit to business' using social media to enhance their websites Google rankings. Business' need to comprehend that you cannot just setup a Facebook service page and hope for the finest. SMM requires effort and possible customers have to see worth in exactly what you have to use via your social media efforts provide something worth their social interaction and time then you may improve results.
Now just as a footnote Facebook shares have actually dropped to under $20 per share, that's half their initial price ... and the claims are flying
As a web developer I was constantly (and now significantly) confronted with a number of social networking obstacles when possible clients would say that having a website sounds great however they had a Facebook business page and had been informed by various sources (the ever present yet anonymous "they") that social networks were the thing to do, however after discussing their requirements it became quite clear that those possible customers didn't actually understand why they required social networks or SMM to produce online sales, They simply wanted it. Well it's easy actually since social media is Social Media, and social Networks are Social Networks they are not service media and company networks (that would be more like LinkedIn). In a current research study done by the IBM Institute for Company Value around 55% of all social media users specified that they do not engage with brands over social media at all and only around 23% in fact purposefully utilize social media to communicate with brands. Well first of all I would say that having actually a well enhanced website is still going to bring you far more business that social media in the majority of cases particularly Elite Digital Marketing agency if you are a little to medium sized local service due to the fact that far more people are going to type in "hairdresser Port Macquarie" into a search engine like Google, Yahoo and Bing than they ever will on any Social Media Website and if you do not have a site you're missing out on all of that possible organisation. The primary factor the majority of individuals give for communicating with brands or organisation on social media is to receive discount rates, yet the brands and service themselves think the primary reason people connect with them on social media is to learn about brand-new products.