Most savvy business ow
ners have realized that in today’s business environment they need to be leveraging social media in some way. They are not always or entirely sure precisely why they need to be there or what they hope to derive from it, but some forge ahead nonetheless with a “presence”.
Simply having one or more social media accounts is not the same as actually managing them based on a clear strategy that will effectively market your business and grow your brand. And that’s the trick! How can we leverage social media to generate more customers?
As soon as Facebook became a publicly traded company and had to become profitable, free exposure for business ended. Today, to reach your targeted customers and grow your following, you need to pay to play, or risk being left on the social media sidelines.
A common misconception of Facebook is that all your followers can automatically be reached just by making a post to a company page. Facebook has adjusted its algorithms such that when a company does post content, it generally reaches only about 1% of followers. Facebook has forced businesses to pay to reach them.
There are 2 options to reach existing and potential customers . Your first choice is to create an ad targeted to followers, friends of followers or a specific demographic group. The second option is to “boost” a post by paying to reach a targeted, larger percentage of your followers and their connections.
Boosting posts is very cost efficient and easily done. For a few dollars a day you can target more accurately than is possible with traditional media, and this can be accomplished based on a plethora of preferences. Incidentally, it’s not only Facebook that has begun to monetize its platforms. Instagram, Twitter and LinkedIn have begun to offer several new advertising methods to reach consumers.
The result of social media machines like Facebook, Instagram, Twitter & LinkedIn needing to turn a profit has resulted in a new era of social media marketing where businesses must dedicate an advertising budget if they hope to have a successful presence. For companies that choose not to allocate ad spending to their pages, organic growth will be at a snail’s pace, as your content will be seen by very few people. Regardless of the route you choose, the basic rules of social media still apply. Your content must be compelling, engaging, interactive and entertaining.
Social media platforms are no different than any other marketing vehicle. You’ll have to pay to reach your demographic or risk being invisible. It is, however, far more cost effective than traditional media and offers the opportunity of maintaining an ongoing relationship with your consumers.
Social media is word of mouth on steroids. To be successful at it where you increase your customer base, create brand recognition, generate sales and repeat business, well… you must be willing to put your money where your mouth is!