The world is on social media! It is not simply a hyperbolic statement now but a fact validated by experts. According to some studies, currently, over 59% of the world population is on social media. For businesses, social media is not just an important ingredient for success anymore but rather an indispensable element in creating their brand presence.
Is Social Media Marketing Effective for B2C or B2B?
The simple answer is that it helps both. No matter if it is a B2B or a B2C model, social media marketing enables businesses to build, nurture and sustain a loyal customer base by allowing them to interact with their audience on a more personal level. In fact, recent statistics show that about 91% of businesses use some form of social media marketing, and about 83% of marketing professionals report using Linkedin as a tool for networking, along with other major platforms such as YouTube, Instagram, Twitter, and Pinterest.
Advantages of Social Media Marketing
Social media is an excellent way to cut marketing expenses. Marketing on social media is significantly less expensive than traditional advertising channels and can enable businesses to build a wider audience base on a lower budget. All these factors ultimately lead to a better return on investment.
Businesses need to make consumers aware of their offerings and constantly keep them engaged to sustain brand awareness. With most individuals and businesses spending a considerable amount of time on their social media platforms, it has become the most potent tool to create awareness about brands in an increasingly competitive world. When communicated using the right social media platforms, relevant, visually appealing content and campaigns become an effective strategy to successfully acquire and retain the target audience.
It can be frustrating to put maximum effort into running a campaign without having a proper channel to measure the effectiveness of those endeavors. With social media marketing, one gets access to tools that help easily monitor engagements and other dynamics of the marketing campaign. This takes the guesswork out of the game and allows businesses to re-direct the marketing strategies on time, thus minimizing the waste of precious resources.
Building a Community
Marketing is essentially about nurturing human relationships. Social media allows an easy way to interact with potential end consumers personally and enables businesses to tell their stories. In doing so, it helps build a community of like-minded individuals who come together to realize a vision and convince more and more people to be a part of their brand story.