It may surprise one to find out what implementing a digital marketing strategy is fast becoming an essential element for any modern business. This may be a bold statement to make, but the statistics speak for themselves. In 2016, it was reported that 72% of any brand’s Twitter followers are likely to make a purchase from them at some point, while 75% of Instagram users will shop for a product or spread the word after seeing a post.
Contrary to popular opinion, these figures do not just include large national or international companies, as research has also shown that 97% of consumers use the internet to look for local businesses and services.
In order to compete in today’s increasingly digital and mobile-driven world, businesses must be prepared to invest in social media and take the time to create relationships with their customers. Still not convinced?
Higher Customer Reach
2016 was the year of the mobile phone, as for the first time, internet access via mobile overtook desktop computers. For any form of marketing to be a success, you need to consider where your target audience goes. Therefore, with young people spending up to a third of the day on their mobile devices and with the use of social media continuing to grow, getting involved on social media is a worthwhile investment for any business.
Forges Real Relationships
From a business point of view, social media can be a fantastic form of free marketing. However, from the perspective of your customers and followers, it is a place to relax, post updates, talk to friends and find inspiration. This means that users will typically view your posts as more of a social interaction and less of an advertisement, which can lead to a more genuine relationship and inspire greater level of brand trust.
Increases Brand Loyalty
Unlike traditional forms of marketing, where a company churns out advertisements, newsletters and emails in the hope that potential customers will see them and take notice, embracing social media allows your business to directly engage with followers, seeing instant results in the form of likes and shares. Research has also shown that the more active you are on social media, the more loyal your customer base, helping to generate sales.
Feedback and Improvement
By interacting with customers on Instagram, Twitter and Facebook, you can see their posts, retweets and shares, helping you find out what makes them tick. This is a fantastic tool, providing feedback on the success of your posts and allowing you to quickly tweek your marketing strategy. This instant communication platform also allows businesses to resolve any issues and hone your customer service skills, enhancing customer experience.
Popularity and Visibility
Almost everyone has seen infamous viral posts, that have gained millions of shares and likes and been viewed across the globe. While only a handful of posts go viral, every share your photo or tweet receives, means hundreds of new social media users will see your message. This can help to generate more followers and even drive sales. Although do be aware that Facebook, for example, does limit how many users can view posts and you may need to pay to increase visibility.
Competition is Online
Lastly, if nothing else will convince you, then how about your competition? 91% of retail brands are now using at least two forms of social media, meaning your biggest competitors are in all likelihood, already online. Social media is also a great tool to get compete with industry leaders, as while you can pay to increase visibility of posts, these platforms provide an equal starting point no matter the size of your business, where success relies on tactics and frequent interaction.
More and more businesses are utilising social media as a central part of their marketing strategies. While you need to spend time finding the right employees and carefully investing (with the likes of ETX Capital), social media is fast becoming a vital tool for all businesses in order to form relationships, generate sales and compete within the market.