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The Social Media Marketing Importance in 2023

How Social Media Marketing Help Business?

Importance Of Social Media Marketing For Business

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Social media has evolved into the most prominent and vital virtual arena, where the platform is utilized not only for social networking but also as a powerful tool for digitally advertising your brand and products.

The power of social media is undeniable, as you can reach a big number of people within seconds of publishing an ad, reduce your costs and ensure that your adverts reach your target demographic with these social media advertisements

With the huge number of online users, which is almost 59% of the world’s population, marketers must not miss out on their chance of marketing on these digital forums where they can reach the maximum number of potential buyers compared with print or television media marketing.

social media marketing

How Social Media Marketing Helps Businesses?

Even though B2B companies seek to sell products to other businesses, B2B marketing is still built on human relationships. Social media has long been used to help grow these relationships, but its importance accelerated last year.

Without in-person events, B2B marketers needed an outlet to connect with prospects and partners. And they found they could do this most effectively via social platforms.

Build Brand Awareness

Across different platforms, companies can tell their story, why they provide the services they offer and keep audiences updated with customer and employee stories.

If B2B leaders are able to leverage the voice of their employees, they can extend their brand reach even further. Every employee has a personal network, and each network has potentially hundreds of contacts. In turn, each of those contacts is connected to hundreds of other people.

Generate Leads With Social Media Marketing

Create meaningful conversations and engagement within their target industry by posting videos, news, data, and interesting trends. Not only do you build credibility with potential customers, but these strategies can result in gaining leads.

Nurture Leads

Social selling enables sales professionals to build relationships with leads. By leveraging their thought leadership pieces, social proofing, and other content, they can help potential customers solve problems. In turn, this allows your sales team to build trust and credibility.

Implement Social Listening

Listen to customers and what people are saying about their company. This gives you a chance to get candid feedback about how others view your brand. It opens a window into improving the weaker areas of your business while reinforcing aspects that already resonate with people.

Measure Marketing Efforts

Social media platforms and management tools enable you to track key performance metrics. You can even assign a monetary value to organic social media engagement. Earned media value (EMV) offers an idea of how much organic social engagement and reach would have cost if you paid in ads.

Build Brand Authenticity

Engaging on social media marketing gives brands the opportunity to build trust with potential customers, partners, and talent/employees. This is especially true if other people are promoting your brand or products/services to other people. People are almost three times as likely to trust advice or recommendations from family and friends than official brand channels.

Increase Your Overall ROI Through Social Media Marketing

Social media marketing helps businesses to increase your return on investment, as the cost of advertising on these social media forums is often less than the return, giving you more revenue.

Because you use digital marketing, you can reach hundreds and thousands of people by simply targeting ads, reducing your advertisement costs.

Facebook and Instagram help you in attracting your potential buyers, and at the same time, they aim to keep the potential customers engaged on their specific social media networks so that you and they both can benefit from this. 

This increased user time on their social media networks increases the possibility of users seeing your ad or your profile, and therefore visiting your profile and then eventually becoming buyers.

Grow Your Audience

In 2021, 4.48 billion people were using social media. Not only does social give you a window into the largest addressable market online, but it shows you what actual people talk about or like. Once you learn how to solve this market’s problems with thought leadership content, you can build an audience that believes in your brand and products and services.

Build Relationships With Your Target Consumers

A business that connects the most with its customers is a business that grows immensely on all possible levels.

Why? 

This is because the customers not only trust you with the product or service you offer but get to know you as a business on a much deeper level. Customers like being heard and feel more privileged when their service providers offer them the aid they seek and create a more friendly and easily accessible communication procedure, where they can post complaints, or learn more about your brand.

Communicate with them, interact on all possible posts, learn what they want and what they like, and then use it to implement a much stronger marketing strategy so that you can transform them from potential buyers to loyal customers.

Learn About Your Competitors

With all business profiles on all social media networks accessible to the public, this could be your chance as an entrepreneur to know your competitor better and understand the strategies that they are implementing to attract their audiences. 

You would be able to see the content that they are posting on their social media profiles and judge which posts are doing better. After carrying out this analysis of your competitor’s profile and looking into all the queries asked by their audience, you will be able to incorporate those questions into your digital marketing strategy. 

Read the questions that their audience has asked and see how you, as a business, can answer these questions. Research more about how well-informed their audience is and how aware your audience is. Based on these comparisons, you will be able to answer these queries better and make yourself and your audience more aware of certain things that you didn’t know about earlier.

Stay Top of Mind With Key People

Spreading thought leadership through social media is a go-to method of meriting the attention of decision-makers and other top stakeholders. Leverage webinars, ebooks, one-pagers, podcasts and other content types to solve problems for other people.

If you want to connect and engage with your future customers, you have to be where they are. And that’s largely on social media

Stats Showing Why Social Media Marketing Is Important

It’s clear that social platforms are great tools for showcasing employee stories, the brand’s vision and values, and creating an emotional connection with audiences (yes, B2B companies should strike the emotional cord just like B2C companies do). 
We see this in the data:
  • 89% of marketers say social media is “Very important”, with 30 percent saying it’s “Somewhat important” to their overall marketing strategy, according to Buffer.
  • 82% of B2B marketers report using LinkedIn as a means of networking and making professional connections. They also use Facebook, Twitter, Instagram, Youtube, and Pinterest.
  • In 2017, 80% of social media B2B leads came from LinkedIn.
  • 53% of the world’s population is now active on social media.
  • 13 new users are starting to use social media for the first time every second
  • 70% of adults said they trusted recommendations online from friends and family, but only 15% said they would trust a companies’ official social media posts 
  • 91% of B2B buyers actively use social media
  • 79% of job applicants use social media to search for employment openings. However, 86% of applicants use social media for their job search in the first 10 years of their career
  • 93% of Twitter members say they’re open to letting brands join a conversation, especially when they provide help
  • 90% of Instagram members follow a business or official brand account 
  • LinkedIn says it has almost 800 million members across 200 countries. North America makes up around 25% of that population.
  • Facebook reaches 59% of the global social media population. It’s the only social media platform that’s in the hands of over half of the world’s social media users.
  • Youtube accrues more than 1 billion hours of watch time each day.
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