Social Media Marketing appears to be the current buzz word for anybody wanting to increase their online existence and sales, however is Social Media Marketing (SMM) all it is cracked up to be?
S.M.M companies are now springing up all over the place these days and they are telling anyone that will listen about how exceptionally important social media like Facebook twitter and YouTube are to your service but, for the typical little to medium sized business, does marketing to social networks actually measure up to all the buzz? Is investing a little fortune on employing a SMM company really worth it? And has anybody actually done their research on this before they worked with someone to set up there Facebook service page? Some SMM business are establishing things like Facebook company pages (which are free) for $600 to $1,000 or more and telling their clients that they don't need a website because Facebook is the biggest social media network on the planet and everyone has a Facebook account. Now while it may be true that Facebook is the largest social media in the world and yes, Facebook's members are prospective customers, the genuine question is are they really buying? Social media marketing business are all too happy to explain the positives of social media like the number of individuals use Facebook or how many tweets were sent out last year and the number of individuals see YouTube videos etc. however are you getting the full picture? I when sat beside a SMM "specialist" at a company seminar who was spruiking to anyone who came within earshot about the incredible advantages of establishing a Facebook organisation page for small business (with him of course) and selling on Facebook. Intrigued by the aforementioned "experts" advice I looked him up on Facebook only to discover he had just 11 Facebook friends (not a good start). So being the research nut that I am, I chose to take a great check out SMM in regard to offering to see if it really worked, who did it work for and if it did why did Social Media Marketing work for them? And should organisation rely so greatly on socials media for sales?
As a web developer I was continuously (and now significantly) confronted with several social networking challenges when possible customers would state that having a website sounds excellent but they had a Facebook organisation page and had been informed by various sources (the ever present yet confidential "they") that social networks were the thing to do, but after discussing their needs it ended up being rather clear that those possible clients didn't in fact know why they needed social networks or SMM to produce online sales, They simply wanted it. Well it's basic truly because social media is Social Media, and social Networks are Social Networks they are not company media and company networks (that would be more like LinkedIn). In a recent study done by the IBM Institute for Organisation Value around 55% of all social media users specified that they do not engage with brand names over social media at all and only around 23% actually purposefully use social media to engage with brand names.
So how do you utilize social media marketing? And is it even worth doing?
Well firstly I would say that having actually a well optimized website is still going to bring you even more company that social media most of the times especially if you are a little to medium sized local organisation due to the fact that even more individuals are going to enter "hairdresser Port Macquarie" into a search engine like Google, Yahoo and Bing than they ever will on any Social Media Website and if you do not have a site you're missing out on all of that prospective service. However despite all the (not so great) data I still believe it is still a great idea for company to use social media just not in the same way that a lot of SMM specialists are today, Why? Because it's clearly not working in the way they claim it does. Basically SMM Companies and Company as a whole looked at social media networks like Facebook as a fresh market ripe for the picking and when Facebook started getting users determined by the millions PayPal co-founder Peter Thiel invested US$ 500,000 for 7% of the business (in June 2004) and because them a few venture capital companies have made investments into Facebook and in October 2007, Microsoft announced that it had bought a 1.6% share of Facebook for $240 million. However because Facebook's modest starts up previously (2012) both SMM Business and Company have actually cannot truly capitalise on the huge variety of Facebook users online. The fact is numbers does not equal purchasers. Is it in a Social Media Marketing company's benefit to talk social networks up? Definitely. Is it in a Social Media Network like Facebook's benefits for individuals to think that companies can offer en masse by advertising and marketing with them? Naturally it is. In early 2012, Facebook revealed that its profits had leapt 65% to $1 billion in the previous year as its revenue which is primarily from advertising had leapt almost 90% to $3.71 billion so plainly the idea of SMM is exercising for them but it is exercising for you? Well ... statistically no, however that does not always imply that it never ever will.
One of the biggest issues organisation face with social networks and Social Media Agency SMM is understanding. The main factor the majority of individuals offer for connecting with brands or business on social media is to receive discount rates, yet the brand names and service themselves think the main reason people interact with them on social media is to learn about brand-new items. The majority of organisations think social media will increase advocacy, however only 38 % of consumers agree.
There were some great initiatives revealed in the IBM research study of companies that had gotten some sort of a handle on how to utilize social media to their benefit, keeping in mind that when asked what they do when they interact with businesses or brand names through social media, consumers note "getting discount rates or discount coupons" and "purchasing items and services" as the leading two activities, respectively an U.S ice cream business called Cold Stone Creamery used discounts on their products on their Facebook page. With both Cold Stone Creamery and Twelpforce the advantage is plainly in the favour of the terrific trick & the possible consumer to social media marketing is to sell without trying to offer (or looking like your selling) sadly most social media marketing is focused the wrong method.
Constructing a tangible purchaser to customer relationship via social media is not easy and most likely the most benefit to service' using social media to enhance their websites Google rankings. Business' require to understand that you can't simply setup a Facebook company page and hope for the best. SMM needs effort and prospective customers have to see worth in what you need to provide via your social media efforts provide something worth their social interaction and time and then you might get better outcomes.
Now just as a footnote Facebook shares have dropped to under $20 per share, that's half their original rate ... and the suits are flying
As a web developer I was continuously (and now increasingly) confronted with numerous social networking difficulties when potential customers would say that having a site sounds great but they had a Facebook organisation page and had been informed by different 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 know why they required social networks or SMM to produce online sales, They simply desired it. Well it's simple truly because social media is Social Media, and social Networks are Social Networks they are not organisation media and company networks (that would be more like LinkedIn). In a current research study done by the IBM Institute for Business Worth around 55% of all social media users stated that they do not engage with brand names over social media at all and only around 23% in fact actively utilize social media to connect with brand names. Well first of all I would state that having a well enhanced site is still going to bring you far more company that social media in most cases particularly if you are a little to medium sized regional service since far more individuals are going to type in "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 do not have a site you're missing out on out on all of that possible organisation. The primary reason many individuals offer for connecting with brand names or business on social media is to receive discounts, yet the brand names and service themselves think the main reason people engage with them on social media is to find out about new products.