Social Media Marketing (SMM) has become an effective way to interact with potential customers and provide value for a brand. Although there is not yet a definitive science to SMM, there are clear benefits in setting up a basic company presence on the major social networks. Here is a list of major benefits.
Branding – The first major asset in SMM is branding. Current consumers are utilizing the Web as a research tool to learn about new products and services. Therefore, it is essential to have an online presence. This is not accomplished simply by having a website. With the use of brand profiles on social networks, companies can increase brand equity by simply being available to share new information about products and provide a gateway to their website.
Customer Engagement – With new competitors rising up daily, brands need a way to keep customers engaged. Social media is a relatively unobtrusive marketing communication platform that allows potential buyers to voluntarily interact with brands. Positive consumer interaction increases the chances of future sales and mitigates lost revenue from emerging competitors.
Increased Web Traffic and Search Engine Rankings – Brand websites live or die by targeted Web traffic. SMM works to increase Web traffic in three ways. First, effectively managed social media campaigns will produce referral traffic from the various brand profiles that have been linked to the site. Second, the increased branding from social media presence increases direct traffic. Lastly, SMM acts to increase link equity which in turn increases organic rankings on major search engines.
Low Cost – Social media marketing is an affordable option for companies looking to market on a tight budget. In contrast to traditional media buys, social media campaigns mostly involve in-house labor. The overhead involved in a campaign is comprised of initial setup costs and hourly pay for employees running the campaign. The benefits involved can greatly outweigh the ongoing maintenance and cost.
Market Research – In addition to customer engagement, SMM can provide useful insight on preference for specific products and services. By tracking comments and feedback on social networks, companies can determine if customers are happy with their services. Social media can also be used to track emerging buyer trends for future product offerings.
In summary, social media marketing can be a valuable asset for growth, PR, and marketing strategies. With networks like Facebook growing to over 400 million users, there is an immense opportunity for businesses to effectively capture new buyers. NetBiz will be offering multiple levels of social media services to accommodate this growing need. If you’re interested in learning more, feel free to fill out the NetBiz inquiry form here.