Social media is at the heart of marketing strategy. Given the time we live, it is important to frame a social marketing strategy to sustain business goals.
And, statistics has it,
Today, 62% of adults worldwide use some form of social media via computers, smartphones, tablets, game consoles, Internet-enabled TVs, handheld music players, and e-readers.
The evolving social media has offered small business owners another platform to promote their business online for almost no prior investment. And to be honest, time is the most basic cost when it comes to social media marketing.
If you have just started, you are busy planning all aspects of your business and would obviously have no time to spend on social media. Hence, it is important you create a marketing plan and set goals for social media to learn about your audience and reach out to them so you can reduce the learning curve and avoid wasting time.
Nielsen also states that four of five Americans are now leveraging social media to help and expand their client base and also build relationships with the customers. It is evident that social media is not going anywhere and it has a high stake in success or failure of the business.
As a Small business owner, you need to frame a social media strategy to reach and engage the existing and potential clients. In today’s connect world it crucial to research your customer’s purchases online and seek a recommendation for the same. It is in the best interest of your business to craft this data meticulously with your social media strategy.
The only challenge left is how do you plan your social media strategy? Since it's the first time you will be crafting your social media strategy here are the five things you should keep in mind while Devising a Social Media Strategy
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As per Statista, the worldwide social commerce sales growth revenue from 2011-2015 has seen a boom from 5 billion to 30 billion US dollars.
Below stats will show you the increasing growth sales growth rate generated from multiple social media platforms.
Boom of social media sales- 2015
Social media sites like “Pinterest,” “Facebook” have transformed the way of selling products online. Business owners are seen to be diverting audience more towards their social networking sites compared to their own websites. For those who have yet not taken an advantage of social media for selling products just because they do not know how it work, then this article is for you.
Today, we are going to explore the pros and cons of selling through social media that will help you make better decision.
Firstly, some pros
1. Cheaper marketing tactic
Selling through your website, means you need to take care of those constant updates and SEO tactics to ensure traffic is diverted to your shop. And, with the increasing competition it becomes very difficult to keep your brand and products up in search results. Social media offers a ready-made customer base that make it easy for your increasing your brand and product visibility without spending much on SEO tactics. Some social media sites allow you to list products for free and charges your a nominal amount, only when your receive a sale.
2. Improve SEO ranking
It takes a lot of time, effort and cost to increase your brand and product ranking in search engines. Social media sites already have millions of active users who regularly visit these sites for getting information and making purchases on-the-go. Selling through social media, there are more chances of getting more click-through rate compared to sponsored ads. The more click-through rate, the better visibility of your brand and products in search engines.
3. Immediate support
When a customer visits your website and while browsing or purchasing a product, is stuck up with something. Now, if you don’t have a real-time chat system, such customers will discontinue their action due to no immediate support available. Social media channels allow business owners to respond almost instantly via real-time chat and messages, helping you boom customer service.
Cons of selling through social media
1. No fixed returns on investment
Sales volume generated today, may not be the same tomorrow when selling through social media channels. The rapid change in customer’s demands, make it difficult to quantify the return in investments and the importance of one channel over another.
2. Permanent site management hassle
Simply listing products on social media channels and adopting an inventory management system to keep a track on them, is not all what you need to do. A dedicated commitment for managing your social media presence is a must. Responding to customer’s concern and produce regular content is one of major drawback when selling via social media.
With more benefits that loopholes, the trick is to spend more on social media and as per an infographic by“Marketing Tech blog,”8 out of 10 SMBs prefer to use social media to drive growth for their business.
Simple, yet powerful