Marketing = Social Media, right?!
What we find is that businesses often automatically think of social media when they think of marketing. Had you been asked the same question ten years ago in business, we guess your answer would have been different. Indeed, in another ten years the answer may very well be different again!
But why do so many businesses rely on social media?
Popularity and Reach:
Social media platforms have gained immense popularity and many of the platforms have billions of active users worldwide. It seems like an easy enough way to reach a vast audience.
Targeted Advertising:
Social media platforms offer sophisticated targeting options that allow businesses to reach specific demographics, interests, behaviours, and locations. Sure, what is not to like?!
Cost-Effective:
Social media marketing can be cost-effective, especially when compared to traditional advertising methods like TV or print ads. Many social media platforms offer advertising options that allow businesses to set their budgets.
Engagement and Interaction:
Social media allows businesses to engage with their audience directly through comments, likes, shares, and direct messaging. Sometimes, this interactive nature of social media helps build relationships and brand loyalty.
Data and Analytics:
Social media platforms provide detailed analytics and insights into campaign performance. This data allows businesses to measure the effectiveness of their marketing efforts and make data-driven decisions to optimize their strategies.
Honestly, the list of benefits can go on and on. It might go viral. You can build brand awareness. The real-time communication is prompt in dealing with customer queries. Businesses can choose to engage with influencers. Not only that, you can run competitions and polls too!
However, there is a big “BUT” that you can hear coming!
While social media is a powerful marketing tool, it’s important to note that it may not be the best fit for every business or marketing goal. The choice of marketing channels should align with the specific target audience, objectives, and resources of the business. A well-rounded marketing strategy often includes a mix of online and offline channels.
Some of the downsides of social media to remember include:
- Algorithm changes – this happens all too frequently! What used to work before, all of a sudden might stop to work or not be as effective as before.
- “Pay to play” model – anyone in training courses that we deliver will have heard Jill highlight the pros and cons of this. The social media giants want your money!
- Negative publicity or comments – this can be so damaging for any business and it is how you react can swing the pendulum one way or the other.
We’re not going to dwell on the downside. However, we do want you to remember that there surely is more to marketing than just social media!
If you are struggling to see further than social media in your marketing strategy, then reach out to set up your 15 minute complimentary consultation.