Is social media marketing effective?
Social media marketing CAN be a very effective way to reach prospective customers. Whether or not it makes sense for your business depends on your goals. It also depends on other priorities you may have for your business and the resources at your disposal. In today’s day and age, every business has what I call a “digital footprint”. This is the sum total of your entire online presence. It includes your website, social media accounts, local business listings and proprietary technology (think apps in app stores). Every business will be different depending on who their customers are and where they spend their time. Social media marketing may be a great strategy for you; however, you have have five other things you would benefit from working on first.
When clients ask these type of questions, we typically begin discussions around customer segmentation and personas. We talk about Ideal Customer Profiles (ICPs) and evaluate how effective they have been so far in acquiring new customers. We also look at client retention and repeat usage patterns. This helps us to pick the right platforms and set the right goals.
Most customers make the mistake of trying to do this on their own. Without a solid strategy, a lot of time and money can be wasted quickly. When it comes to digital marketing, constant monitoring of campaign performance is also required for good results. Most business owners (especially small business owners) do not have the time to sit and monitor campaigns. This is why I recommend they work with an experienced digital marketing or SEO partner as soon as they are able to afford it.
More established businesses who are looking to reach more customers may stand to benefit more from social media. Keep in mind that social media includes ALL social networks. It isn’t only Facebook and Twitter. Instagram, Pinterest, YouTube, LinkedIn and TikTok are all in the same category. Younger users use social in ways older demographics don’t understand. LinkedIn remains a highly trafficked platform for business-to-business sales. There are too many variables to list here but working with an expert will protect your investment.