For a business, marketing is but one of the most important ingredients in attracting and maintaining new customers. With competition continuously increasing each day, it’s crucial that your marketing strategies are effective and gives you return of investments – and efforts – as well.
As time has evolved, means of marketing has drastically changed. From traditional marketing, today, technology has already given any business a vast set of tools to efficiently grow their business. On the marketing side, one of these is social media marketing.
For those who haven’t delved into it yet, as the word denotes, it’s the new means of reaching to your existing and possible customers – through the likes of Facebook, Twitter and Instagram.
While in the past decades, advertising through television, radio and print media (such as newspapers, magazines and catalogues) have worked, it’s about time for you, as a business to know how your consumers are changing the way they want to get information. Internet is the new way to interact. And to be more specific, here are the advantages of social media marketing versus traditional marketing.
Ease of setup
With creating an advertisement for television, radio or print, how many departments or people from the media company did you have to go through to fulfill a minute’s worth of advertisement? That span of time plus the preparation you or your marketing team made in creating the ad itself can get so time consuming. With social media marketing, all you need is a few minutes to create your accounts. Of course, it would still need creativity to engage your target customers, but everything is under your control.
A minute or two of advertisement on television or radio, or a quarter of a page of a newspaper or magazine can cost you hundreds or thousands of dollars. That even depends if you are advertising on a primetime show or not, or if your print ad will appear on the banner or on the inside pages. The cost varies and fluctuates. Meanwhile, with social media, setting up an account is free and your costs can focus on how you can create an engaging content.
So you’ve placed an advertisement during the superbowl, and a lot of people has seen it. Did it work? How do you know it worked? Were you sure that you captured your specific audience? The disadvantage with traditional marketing is its lack of capability to measure results, and you are doing this at a costly price. On the other hand, with social media, you can see how many people liked or retweeted a post, and through analytics, you can see how many clicks a link has earned. Apart from that, such kind of marketing can also bring traffic to your website.
When a viewer sees an advertisement of your business, they get to know your brand and your products, but there is really no form of interaction. Today, that gap is being addressed by social media. Brands on social media get the chance to quickly respond to customers’ queries. Like if they ask about your next sale, you can quickly respond. Or, also, you would get instant feedbacks or requests. Take for example, through such platforms, you will find out that a number of customers in a specific city wants your services. Through these forms of interaction, you would also get to act on the needs and wants of your customers and promote loyalty.