What is Social Media Marketing?
Social Media Marketing is the process of bringing potential customers to your website via Social Media channels such as Facebook, LinkedIn and Twitter. This Internet marketing strategy offers a more precise targeting of customers.
Take Facebook Marketing as an example:
Why is Social Media Marketing important?
Customers tend to talk about the products or services before they make the purchase. Imagine your products and services are recommended by a trusted friend rather than a sales person. The closure rate will be much higher if it is recommended by someone trustworthy.
Example: Facebook “Likes”
If you want to buy flowers and an ad in Facebook has 50 likes from someone you know (maybe your friends and family), it will likely increase your confidence of buying flowers from this company.
How can Social Media Marketing help in my business?
There are more than 1.1 billion active Facebook users in the world as of 2015.
Facebook has millions of active users every day that can potentially become your customers.
Example: If you are a florist and your shop is located in Singapore, you can target Facebook users who are male, above 25 years old (where they have more spending power), who stay in Singapore and relationship status as either “in a relationship”, “engaged” or married” (probability of attached guys buying flowers are higher than single guys).
This helps you to spend your marketing budget more efficiently.
What are the advantages Social Media Marketing?
Below are the advantages of Social Media Marketing:
Social Media Marketing allows business owners to target users in a more precise manner such as:
And many more.
You can get your ads up on the same day as long as your ads comply with the social media platform terms and conditions. This means connecting to your potential customers immediately.
Word of mouth (most efficient marketing)
Potential customers will trust the products and services recommended by their friends or family members. The number of Facebook “Likes” will build up the confidence of the potential customers.
Social Media Marketing such as Facebook advertising allows you set up campaigns that only charges you if the Facebook user clicks on your ads and gets directed to your website. If the Facebook user sees your ads but does not click on it, you pay nothing. For branding purposes, you can get more eyeball views by setting up campaigns for impressions rather than clicks.
Your ads will only be shown to your targeted social media users.
Expose your ads 24 hours a day, 7 days a week
Social Media Marketing allows your ads to be shown 24 hours a day, 7 days a week. Best of all, your ads will only show if users search for the keywords you have targeted. You can even target Internet users from other countries.
Points to take note on Social Media Marketing
Example: If you have a $1000 marketing budget per month, this equates to $33.33 per day. If your targeted cost per click is $1, your budget can only last for 33 clicks. After 33 potential customers have clicked on your ads, your ads will not be shown anymore until the next day.