Did you know that the ad spend on Facebook grew by almost 30% in 2020? According to the same report, the trend indicated that budgets were tightened but more budget was allocated to digital channels and social media.
Furthermore, the trend is set to continue in 2021.
Image via Socialbakers
If you are still not investing in social media marketing, it’s time to get on board with the trends.
Still on the fence about the role of social media in growing your business?
Here are the benefits that you can get from it:
1. Boost Brand Awareness
One of the biggest advantages of having an active social media presence is that you can increase your brand awareness. Social media gives you a platform to reach out to users who may not have even heard about your brand before.
What’s more, social media platforms enable you to send targeted ads. When you send relevant ads based on a user’s tastes and preferences, they are more likely to be interested in your content.
Additionally, you can also target ads based on location, gender, age, and other criteria. All in all, you can boost your brand awareness among your target audience more easily.
2. Increase Website Traffic and Leads
As more people get to learn about what you have to offer, you are likely to see a surge in website traffic. Since you are reaching out to a targeted audience, you are also likely to see more traffic coming from qualified leads.
This, in turn, can give a boost to your lead generation efforts. Not just that, you’re also likely to see a boost in other metrics like average time spent on a website.
Pro Tip: To keep track of your leads coming from different platforms, use an advanced program specially designed for lead generation.
3. Improve Your Brand Recall
Don’t you want users to think of your brand first when they think about your niche? Of course, you do! A memorable social media marketing campaign can go a long way in creating a lasting impression in front of your target audience.
It’s okay if users don’t purchase your product right away. If users can recall your brand easily, you can move them down the sales funnel with a few more touchpoints.
Social media helps you boost your visibility and improve your ad recall. If you run a social media campaign for a long time, you can make sure that you are reaching out to more people and improving their ability to recognize your brand.
For example, LA CREMERIA, a Malaysian ice-cream brand, leveraged Instagram to run influencer campaign campaigns with popular celebrities. As a result, they were able to get a 5.6 point lift in their ad recall in the age group of 35-to-40-year-olds. Their ad recall among women saw a 4.5-point lift as well.
4. Get More Brand Credibility
Social media enables you to work with influencers to promote your products on different channels. Not only can you boost your reach and get more engagement, but also boost your brand credibility.
Not sure how?
Well, social media influencers work really hard to build a rapport with their followers. Because of their expertise, they also have a certain level of credibility in their field. In fact, their followers wait for their recommendations and advice.
When they vouch for your products, their followers may tend to establish some trust in your brand. It’s almost like you are piggybacking on their reputation.
In addition to influencer content, other sponsored content can also help you establish your brand as a thought leader in the industry. In fact, roadmap software company, Aha!, were able to leverage LinkedIn to gain audience trust by creating meaningful content on the platform.
5. Get More Engagement
When you upload content on social media that resonates with your audience, they are likely to respond to it. You’ll get more likes, shares, and comments if it strikes a chord with them. This, in turn, can boost your overall engagement.
What’s more, you can also host contests, create polls, and publish live videos to keep your audience entertained. In a nutshell, social media enables you to create content that can engage them.
Why does it matter?
Before you can turn a prospect into a customer, you need to keep them engaged. It’s a stepping stone in the right direction.
6. Get Detailed Customer Insights
One of the biggest advantages of advertising via social media is that you can get access to customer insights. All social media platforms collect user data. From user interests to demographics, these platforms record all kinds of behavioral data.
When you run an ad campaign, you can also get insights into how people are engaging with your content. This data can help you figure out which content your audience resonates with the most. Based on that, you can create a more robust content and marketing strategy. You can also use specialized tools for social media management to get detailed insights.
What’s more, this data can help you learn how to get the most out of your ad spend. In the long run, it can help your business save money and get the most out of your budget through campaign optimization.
Once you have data on what works, you can leverage retargeting to follow up multiple times with users who may be interested in your brand. This, in turn, can help you boost your conversion rate.
Regardless of your industry or business size, social media can be a powerful tool to grow your business. It can help you get more visibility, reach out to a broader audience, and generate more qualified leads.
Not only can it help you increase your sales and revenue, but it can also help you create more cost-effective campaigns. You can leverage social media to gain more credibility and improve your brand recall value.
By tracking your campaign results, you can optimize future social media campaigns for better results. All in all, it has multiple benefits, so you shouldn’t miss out.
Are you ready to create a social media strategy to grow your business?
Do you have any questions about the role of social media in growing businesses? Please feel free to mention them in the comments section.