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Is social media marketing right for your business?
In the last couple of years the way that individuals and organisations have communicated using the internet has changed as much as in the previous 15, this is entirely due to the rise in social media and social networking. Sites such as Myspace, Facebook, Linkedin, Youtube and Twitter, have revolutionised the way people interact and do business. As such, the big question on everyone’s lips is what will work for my business. As an online marketing agency we are asked the same question time after time by our client’s “What should we be doing to maximise the opportunities out there?”
The answer, unfortunately, is not simple. What would work for one business with one particular target market and focus will not necessarily work for another, the key is understanding what is appropriate and what is inappropriate. What you do not want to do is jump on the bandwagon before understanding some of the possible pro’s and con’s:
The pros of social media marketing
- You can reach new customers that more traditional marketing methods may miss. You never know who will direct a friend to your blog, Facebook page, Twitter feed or social bookmark post, so your potential for reeling in new leads is unlimited.
- Social media marketing is cost-efficient in comparison with other marketing methods, even if you hire a dedicated team or outsource your social media content needs.
- You can learn how to improve your products and services. By encouraging open communication through public comments, you can learn what you can do to make your offering better.
- You can build brand loyalty. Not only can you use social media to build your brand, you can use it to demonstrate your personality, interact with customers and show them that you care, which, in turn, breeds loyalty. Social media marketing can also boost your reputation and build relationships.
The cons of social media marketing
- Social media marketing can place high demands on your time. Content must be created, edited, approved and published; comments must be responded to and sites and pages must be maintained.
- Social media marketing places high demands on your talent. It can be difficult to constantly come up with innovative exciting content that interests a variety of readers and, without relevance, your efforts will be wasted.
- Your return on investment is not immediate. Social media marketing can work to build relationships and brand loyalty, but it takes time and dedication. Social media marketing efforts are not likely to earn immense popularity overnight, so you must be willing to be in it for the long haul if you decide to launch a social media marketing campaign.
Social media marketing can bring many benefits and increased profits to any business with an online presence, but it comes with caveats. If you're considering launching a social media marketing campaign, make sure you understand all the pros and cons and have a robust plan in place. With proper planning you'll increase your chances for social media success, broaden your practice's horizons and be ready to tackle any unfortunate eventualities.
To understand more about social media marketing and to work out what would be appropriate for your practice feel free to get in contact with us at Base Creative.