16 Dec 4 Reasons why social media marketing forms a back bone for any startup
“We don’t have a choice on whether we do social media. The question is how well we do it.”
Facebook, Instagram, Snapchat, YouTube and the likes of them have quite rapidly overshadowed traditional mediums when it comes to marketing. Today, Facebook alone has 1.5 billion active users every day and 93% of all marketers use Facebook today. This translates to roughly 3 million businesses being active on Facebook alone to market their products and services excluding other platforms and their reach.
Social media in general and Facebook, in particular, has helped many startups grow and develop into huge ventures. So, what are the benefits that social media marketing brings to newly established businesses? Here are a few:
1. The cost-effectiveness helps
A startup usually has limited finances which mean that they can’t pursue extensive marketing efforts. Social media provides them with a cost-effective way to promote their products and services without having to spend large amounts of money. Facebook, Instagram and YouTube provide businesses with a large potential customer base and it all comes down to how well a business can target its respective audience. At the beginning of its life, a business requires to save as much money as it can and social media is one of the best answers available for communication and promotion.
2. The ability to try different things
The type of content and marketing strategies that you can use on social media is enormous. The platform allows you to try different types of posts and see which ones are most popular with the users. Social media can also serve as a pilot platform for launching various campaigns that might be aimed at niches or towards the general public.
3. Gathering insights innovatively
In the 21st century, the winners in terms of business are the ones who have understood the importance of “big data”. Data and insights might be collected from any platform where users interact with the business but the depth of information regarding consumer behaviour and attitudes that one receives from social media is unparalleled. People on social media interact more openly and reveal more elaborate information about what they like and dislike. Furthermore, the technology available today can even track where a user hovers, where they scroll quickly and where they click instantly. As a result, companies are able to see how effective and interesting areas are on their websites.
4. Efficient customer engagement
Research and statistics reveal that customers feel more interactive and engaged through effective social media marketing. Unlike blog comments or website queries, social media is instant and precise in terms of answering customer questions or helping them find what they want. These exceptionally high levels of customer engagement influence customers to prefer social media over other marketing types.
As the penetration of technology grows, social media will continue to rise and evolve through time. It has shown strong trends and will continue to reshape global marketing perspectives for a long time. Therefore, start-ups must learn to productively use it in their favour and reap the benefits these platforms can offer them.