In today’s world, brands and industries are continuously pushing towards using social media as a marketing outlet, but there are fears that the investment returns from social media marketing cannot be strategically measured. So the real question is, should all the industries be pushing to use social media for marketing purposes and more importantly, does it really provide your business with a return on your investment?
The move towards social media marketing makes total sense. It is a fact that more and more people spend increasing amount of time in the social networks. The truth is that it is hard to measure just how much return it can bring you. This is the prime argument of business owners who do not see a correlation between Social Media Presence and ROI.
Even though it may be hard to measure, one cannot refute the fact that using social media is a promising tactic, yet you must have a plan and it must be done right!
You must analyze if it will work for you by seeing if your target market is engaging in social media (it is almost guaranteed that they are) and specifically which platforms are they using? You may think that because you are targeting a 50+ crowd you won’t reach them on the Internet but the truth is, you most likely will. The fastest growing age group on Twitter alone is in the 55-64 age range.
It is clear that any business that deals with the mass public and attempts to offer a service or a product to the masses should most definitely engage in social media marketing. Obviously you cannot expect overnight results. It is a slow, long-term process that requires constant monitoring, an ongoing plan with clear goals set, and knowledgeable implementation with educated staff who can provide the value added benefits via content and communication they put out.
There is a ton of marketing literature available on the topic of how to optimize the use of Social Media marketing, however this is not the task of this article. The dilemma lies in the understanding realistic goals for the Social Media Campaign and having pragmatic expectation.
It is difficult to break down which industries can benefit the most from using social media because if done right, most industries will see some sort of benefit; The general consensus however that Social Media marketing strategies work for businesses who target the end user. Such way of thinking could be refuted via references to “branding strategies” and overall legitimacy that a developed social network of followers can bring. Hence the real question is what kind of a return one is looking for?
Maybe for your particular sector it may not lead to immediate monetary returns, but it definitely gives you a lot of impact and reach, and helps to place you and your brand in front of your audience. This is particularly true for manufacturers, B2B resellers, and distributors. Their target market is usually a relatively narrow niche of potential clients which require a sales effort. The decision makers in such organizations usually yield to one of the three camps.
A) Ones that boldly want “Social Media” because everyone talks about its importance. These individuals usually lack a perspective on realistic expectations that Social Media Marketing can bring. They simply desire it because it is “hot” now. Once properly consulted by a Social Media Marketing professional their opinion quickly deviates into one of the other groups mentioned below. They realize the amount of effort involved and the cost of such an undertaking with no realistic monetary figures as ROI to support such an effort.
B) Another large group of business owners are of the opinion that for their niche clientele Social Media will not bring any business. They are acquainted personally with a large number of their customers and are convinced that these people do not access Social Media. While this is drastically changing across many Social platforms, they negate the overall branding effect of Social Media Marketing. Being more visible, and involved in the industry on the Social Media level allows for better brand awareness and recognition which brings us to the last group.
C) These individuals are fully aware of long term benefits of a thorough Social Media Marketing campaign. They despite their age can foresee the way human interactions are going and invest into a well planned, long term effort to build audience, provide useful content and establish their company as an authority in the industry. Such individuals more often than not, hire Social Media Consultants and Marketeers for such effort.
Whether or not you can place yourself into one category or the other, we at Nova are always willing to help. Please visit our Social Media Marketing page for more information or contact us for a free consultation !
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