How Social Media Changed Marketing & Advertising
Undoubtedly, social media has changed the marketing and advertising landscape. In the past, companies would have to rely on more traditional methods to reach their target audiences, such as television commercials, radio ads, and print ads.
In 2005, only 5% of the American population was active on social media. Today, social media use has become ubiquitous, and the figure has risen to 72%, an exponential growth that gave birth to social media marketing.
What Is Social Media Marketing?
It is the act of marketing to consumers through social media channels, including creating and publishing content, engaging with customers, and monitoring feedback.
While new platforms and technologies have made it easier for businesses to reach larger audiences, social media marketing still presents some challenges.
Marketing Before Social Media
Marketing before social media was all about reaching people through traditional methods. TV, radio, and print ads were the primary means to communicate a message to the masses.
Companies must craft their messages carefully and hope they resonate with consumers. However, with such a limited way to reach potential customers, there was always a risk that messages could fall on deaf ears.
Additionally, without any interactivity or two-way communication, it was difficult for customers to provide feedback on marketing campaigns. As a result, businesses often had no idea whether their ad campaigns were successful.
Why is Social Media Important to Your Marketing Strategies?
Social media is one of the most important aspects of marketing today, allowing businesses to reach a larger audience than ever before and continues to evolve and change.
It is essential for businesses to stay up-to-date on the latest social media trends and platforms and to create content that resonates with their target audiences.
Social media has three main benefits for businesses:
Social media is one of the most effective digital marketing platforms that help boost your brand visibility among potential clients, allowing you to reach out to a larger market. By applying a social networking strategy, you significantly improve your brand awareness.
Research shows that 60 per cent of U.S. Millennials expect consistent experiences across digital, social, mobile, and physical channels. Social media strategies increase user engagement across channels to engage consumers and deliver a better omnichannel customer experience.
Social Interaction between business and customers is a growing trend that increases sales and improves brand Loyalty. SMM reports say more than 65 per cent of businesses are on social media to increase leads.
Impacts Of Social Media On Marketing And Advertising
Social media has multiple business benefits, including brand recognition, customer engagement, sales, and customer service. Also, it’s an excellent way to compare your business against your competitor.
Here are five ways social media has changed marketing and advertising nowadays:
- Social Media opens an avenue to reach out to a bigger audience.
Social media marketing has proven to be an effective tool for increasing brand awareness and staying in touch with your customers.
Social media platforms are increasingly becoming the main sources for people to get up-to-date information about businesses – including their newest products, service offerings, advertisements, offers, etc.
- Social media allows collecting first-hand customer feedback.
Social media also allows businesses to collect first-hand customer feedback, which can be used to improve their marketing and advertising strategies.
Feedback and comments monitoring on social media platforms help businesses better understand what their customers like and don’t like and what they want to see more or less of. This feedback can help businesses fine-tune their marketing strategies and make advertising more effective.
So, respond to every post, comment, and suggestion, and make the most out of them for your business’ success. Businesses that engage their customers through social media earn 20-40% more profit per client.
- Social Media improves user engagement.
If you’re not already doing so, you’ll want to set up a social media presence for your business to allow you to interact with your customers directly and provide them with information about your products and services.
Here are some best practice tips for engaging users:
- Regularly posting witty and engaging content keeps your business at the top of the social media news feed.
- Use images to improve user engagement.
- Try being personal with your audience by making them feel there are real people behind the brand.
- Social Media is an excellent driving force for growth tools.
According to Hubspot research, social media marketing has a 100% higher lead-to-close rate than outbound marketing.
This data proves that social media marketing is crucial for any brand, regardless of size, aiming to boost its sales revenue.
Here are some best practice tips:
- Understand what is happening in your business, and use focused social media listening.
- Start a social selling strategy (social selling combines the elements of social listening, social media lead generation, and sales practices).
- Social Media Boost your brand loyalty.
One of the main benefits of social media marketing is that it can help improve brand loyalty. By interacting with customers directly on social media, businesses can create a personal connection with them that can help strengthen loyalty to the brand.
Brand loyalty matters due to the following reasons:
- Meaningful engagement: When customers feel their suggestions are heard and valued, they’re more likely to be engaged with the brand.
- Word-of-mouth marketing: Happy customers usually tell their friends and family about their experiences, leading to more sales.
- Customer engagement & retention: Engaged customers stick with your brand, even when cheaper or better alternatives are available.
The use of social media in marketing and advertising has changed how businesses interact with their customers, allowing businesses to:
- reach a larger audience
- collect first-hand customer feedback
- improve user engagement
- be a driving force for growth tools, and improve brand loyalty.
If you’re not utilizing social media yet for your business, now is the time to start. However, use social media wisely and sparingly to avoid its negative effects. It would also be best to utilize a trusted and experienced marketing agency like BrandLume to fully leverage the power of social media marketing.