In recent times, social media networks have evolved from simply being platforms where people go to socialize to being necessary tools that businesses use to achieve serious monetary growth. To ensure your business stay ahead of the pack, we have highlighted the best practices of those successful in executing social media marketing.
1. Generating Brand Awareness
Different social media platforms have different users characterized by certain demographics. An effective brand awareness strategy requires a solid understanding of your target audience. Attaching high-quality photos and videos to your updates boosts your visibility by grabbing potential customers’ attention. Today, according to Vidyard statistics, 86% of businesses use videos on their websites and 77% use them on their social media platforms to increase their online presence.
2. Driving High Conversion Rates
Merely generating leads is futile if they are not being converted. Businesses can design appealing "call-to-action" strategies and post on their online profiles, motivating followers to purchase more. For example, Domino's pizza's message on their Facebook cover page encouraging followers to order online to gain points that will get them free pizzas. Using this strategy directs and motivates prospects to visit their website and purchase. Some companies can offer inviting discounts while also offering giveaways, such as trips to the overseas as "bait" to lure potential customers to make purchases.
3. Improve Search Engine Ranking
Businesses can use social media channels to improve their online search engine ranking by increasing their posts share rate. As a result, more customers are able to visit the brand pages, not to mention, the customers are able to understand the brand before making a purchase decision. More visits to the profiles boost the ranking of their social media pages that also serves to improve their appeal to potential consumers.
4. Reputation and Crisis Management
Businesses use social media to highlight the positive aspects in the form of praises and address the negatives before they evolve into a major crisis. A good example of this is Starbucks. When two black men were arrested in a Philadelphia Starbucks store, the hashtag #BoycottStarbucks went viral with more than 100K shares in three days! As a result, Starbucks released statements via social media to explain the incident in a bid to curtail damage to its reputation. They also announced they would close its’ stores for a day to put employees through racial-bias training in response to the situation.
5. Voice of the Customer / Market Research
Businesses can capture the sentiments, good or bad, of their customers through social media as well. With tools such as, Hootsuite and Sysomos (now Meltwater), businesses can turn data-driven insights across various social media channels into actionable customer engagement opportunities. Using social listening, brands can adapt quickly to unpredictable market trends, identify critical moments for the brand, monitor the issues that may have an impact on their business, and focus on the analytics that matters the most. These tools make it easier to engage with customers, schedule posts, and enhance customer experience with the brand.
6. Competitive Analysis
Lastly, businesses can use social media networks to monitor the performance of their competitors, view content they post and even draw inspiration from their content. They can learn their rivals' strategies based on what they post and see how they interact with their customers, tweak the methods, and practice them in a way to achieve better results! Not only that, but it is also a great way to see what people are saying about the competition, so you will know what to do and what NOT to do.
Globally, businesses today will not be able to survive for the long-term without the important input of social media in their day-to-day operations. Effective incorporation of social media marketing drives customer loyalty and boosts the chances of success in the marketplace.
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