Social Media Marketing appears to be the most recent buzz word for anyone planning to increase their online existence and sales, however is Social Media Marketing (SMM) all it is cracked up to be?
S.M.M business are now springing up all over the place these days and they are informing anybody that will listen about how exceptionally crucial social media like Facebook twitter and YouTube are to your business however, for the typical little to medium sized business, does marketing to social networks truly measure up to all the hype? Is investing a small fortune on hiring a SMM company really worth it? And has anyone really done their research on this before they worked with somebody to establish there Facebook organisation page? Some SMM business are setting up things like Facebook business pages (which are free) for $600 to $1,000 or more and telling their customers that they do not require a site due to the fact that Facebook is the biggest social network in the world and everyone has a Facebook account. Now while it might hold true that Facebook is the largest social network worldwide and yes, Facebook's members are potential customers, the genuine concern is are they actually buying? Social media marketing companies are all too pleased to mention the positives of social media like how many people utilize Facebook or how many tweets were sent last year and how many people watch YouTube videos etc. but are you getting the full picture? I once sat next to a SMM "professional" at a company seminar who was spruiking to anybody who came within earshot about the remarkable advantages of establishing a Facebook organisation page for small company (with him naturally) and selling on Facebook. So, captivated by the abovementioned "specialists" suggestions I looked him up on Facebook just to find he had only 11 Facebook friends (not a great start). So being the research study nut that I am, I decided to take a great check out SMM in regard to selling to see if it in fact worked, who did it work for and if it did why did Social Media Marketing work for them? And should organisation rely so heavily on socials media for sales?
As a web designer I was continuously (and now increasingly) faced with numerous social networking difficulties when potential customers would say that having a site sounds good but they had a Facebook service page and had actually been told by different sources (the ever present yet confidential "they") that social networks were the thing to do, however after discussing their requirements it ended up being rather clear that those prospective customers didn't in fact understand why they required socials media or SMM to generate online sales, They simply wanted it. For medium and little sized company I constantly recommended developing a quality site over any kind of social media network, why? Well it's basic truly because social media is Social Media, and social Networks are Social Networks they are not company media and business networks (that would be more like LinkedIn). I know that sounds basic but it holds true and the stats back it up. The fact is that social media marketing fails to inform you that Facebook is a social media not a search engine and regardless of the variety of Facebook users and Google users being around the very same, people do not use Facebook in the same way that they use a search engine like Google (which has around half the online search engine market), Yahoo and Bing to look for business or items. They use it to correspond with family and friends or for news and entertainment. In a current study done by the IBM Institute for Business Worth around 55% of all social media users specified that they do not engage with brand names over social media at all and just around 23% really purposefully utilize social media to interact with brands. Now from all the people who do use social media and who do engage with brand names whether purposefully or not, the majority (66%) state they have to feel a business is interacting truthfully before they will communicate.
How do you utilize social media marketing? And is it even worth doing?
Well first of all I would say that having a well enhanced site is still going to bring you far more service that social media in most cases particularly if you are a little to medium sized local service because much more individuals are going to enter "hair stylist Port Macquarie" into a search engine like Google, Yahoo and Bing than they ever will on any Social Media Website and if you don't have a site you're losing out on all of that possible business. However regardless of all the (not so good) stats I still believe it is still a good idea for service to use social media just not in the same way that a great deal of SMM professionals are today, Why? Since it's plainly not operating in the way they claim it does. Generally SMM Companies and Company as a whole took a look at socials media like Facebook as a fresh market ripe for the picking and when Facebook began getting users determined by the millions PayPal co-founder Peter Thiel invested US$ 500,000 for 7% of the company (in June 2004) and because them a couple of equity capital firms have made investments into Facebook and in October 2007, Microsoft revealed that it had actually purchased a 1.6% share of Facebook for $240 million. However considering that Facebook's modest starts up until now (2012) both SMM Companies and Service have actually failed to truly capitalise on the big variety of Facebook users online. The reality is numbers does not equivalent purchasers. Is it in a Social Social Media Agency Media Marketing company's benefit to talk socials media up? Absolutely. Is it in a Social Media Network like Facebook's benefits for people to believe that business can offer en masse by advertising and marketing with them? Obviously it is. In early 2012, Facebook divulged that its earnings had jumped 65% to $1 billion in the previous year as its income which is generally from marketing had jumped practically 90% to $3.71 billion so plainly the idea of SMM is exercising for them but it is working out for you? Well ... statistically no, however that does not always mean that it never will.
One of the biggest issues company face with social networks and SMM is understanding. The primary reason the majority of people give for interacting with brand names or service on social media is to get discounts, yet the brand names and company themselves think the primary reason people interact with them on social media is to learn about brand-new items. A lot of companies believe social media will increase advocacy, however just 38 % of customers agree.
There were some good efforts shown in the IBM research study of business that had gotten some sort of a deal with on how to use social media to their advantage, keeping in mind that when asked exactly what they do when they communicate with services or brands by means of social media, consumers list "getting discount rates or vouchers" and "acquiring items and services" as the top two activities, respectively an USA ice cream business called Cold Stone Creamery offered discounts on their items on their Facebook page. With both Cold Stone Creamery and Twelpforce the benefit is plainly in the favour of the prospective customer & the fantastic technique to social media marketing is to offer without attempting to sell (or looking like your selling) sadly most social media marketing is focused the wrong method.
Constructing a concrete buyer to consumer relationship through social media is challenging and probably the most benefit to business' utilizing social media to enhance their sites Google rankings. Company' require to understand that you can't simply setup a Facebook service page and hope for the best. SMM needs effort and potential customers have to see worth in what you have to offer by means of your social media efforts provide something worth their social interaction and time and then you might improve results.
Now just as a footnote Facebook shares have dropped to under $20 per share, that's half their original rate ... and the claims are flying
As a web developer I was constantly (and now significantly) faced with several social networking difficulties when potential customers would say that having a site sounds good however they had a Facebook business page and had actually been told by numerous sources (the ever present yet anonymous "they") that social networks were the thing to do, however after discussing their needs it ended up being quite clear that those possible clients didn't actually understand why they needed social networks or SMM to produce online sales, They just desired it. Well it's easy actually since social media is Social Media, and social Networks are Social Networks they are not business media and organisation networks (that would be more like LinkedIn). In a current study done by the IBM Institute for Service Value around 55% of all social media users mentioned that they do not engage with brands over social media at all and just around 23% actually actively use social media to engage with brands. Well initially of all I would say that having actually a well optimized site is still going to bring you far more company that social media in a lot of cases particularly if you are a little to medium sized local service because far more individuals are going to type in "hairdresser Port Macquarie" into a search engine like Google, Yahoo and Bing than they ever will on any Social Media Site and if you do not have a site you're missing out on all of that prospective business. The main factor many individuals provide for connecting with brands or organisation on social media is to receive discount rates, yet the brands and service themselves believe the main factor people connect with them on social media is to learn about brand-new products.