7 Benefits of Social Media Marketing for Your Business
How many brands do you follow on social media? Probably a few, at least! Social media has become an integral part of our daily lives, and businesses have taken notice. With over 3 billion people using social media worldwide, it's no surprise that social media marketing has become a crucial aspect of any business's digital strategy.
According to a Statista, 92% of marketers use social media. That means for businesses of all shapes and sizes, a razor-sharp social media strategy has become tablesakes for brands looking to stand out from the pack.
From increasing brand awareness to improving customer engagement, the benefits of social media marketing for businesses are endless. From increasing website traffic to improving search engine rankings, there are myriad ways businesses can leverage the power of social media to achieve their marketing objectives and reach new heights.
What is social media marketing?
Social media is something you use every day—but have you ever wondered what exactly is social media marketing? Social media marketing is the process of using social media platforms to promote a product, service or brand. It involves creating and sharing content, as well as engaging with followers and customers.
The goal of social media marketing is to increase brand awareness, drive website traffic, improve search engine rankings, and ultimately increase sales or conversions. Social media platforms that are commonly used for marketing include Facebook, Twitter, Instagram, TikTok and YouTube (and Discord, for brands ahead of the curve). Marketers use these platforms to create and share content, engage with followers, and run advertising campaigns. The process also includes monitoring metrics and analyzing the success of the campaigns.
What are seven benefits of social media marketing?
Social media marketing has become an essential tool for businesses to reach and engage with their target audience. According to a survey by Statista, global digital ad spending on social media reached $57 billion in 2022. That’s because social media provides a vast platform for companies to promote their products and services, increase brand awareness and drive sales. It’s cost-effective and allows businesses to connect with customers in real-time and build a loyal customer base. Here are just some of the benefits of social media marketing:
Increased brand awareness: Social media platforms are a great way to reach a large audience and increase visibility for your brand.
Increased website traffic: Social media can be used to drive more traffic to your website.
Improved search engine rankings: By regularly creating and sharing content on social media, you can improve your search engine rankings.
Better customer engagement: Social media platforms provide a way to interact directly with customers, gather feedback and respond to questions or concerns.
Cost-effective: Social media marketing is relatively inexpensive when compared to traditional forms of advertising.
Targeting and retargeting: Social media platforms allow you to target specific demographics, interests, and behaviors, making it easier to reach your desired audience.
Brand storytelling: Social platforms give brands a space to demonstrate their culture, values and extracurricular interests that help bring a brand to life.
What are some examples of social media marketing?
So now that you know some of the amazing benefits, you might be wondering, “What are some examples of social media marketing?” Great question! Social media marketing comprises diverse sets of tools and applications, but the major examples include:
Creating and managing a brand's social media accounts on platforms such as Facebook, Twitter, Instagram, and LinkedIn.
Developing and sharing engaging and informative content, such as text posts, images, and videos, on social media platforms.
Running social media advertising campaigns, including sponsored posts and display ads.
Building and engaging with online communities on social media platforms.
Hosting live Q&A sessions or webinars on social media.
Collaborating with influencers and other brands on social media campaigns.
What companies do social media marketing really well?
Every time you jump on social media channels, you’re met with either paid or organic social media marketing from brands around the world. Some brands blend in to the noise and chatter of social media, while others have not only developed a reputation for excellent engagement, but paved the way for the industry. Many companies do social media marketing well, but some notable examples include:
Red Bull: The energy drink company has built a massive following across multiple social media platforms by consistently creating high-quality, visually stunning content that aligns with their brand identity.
IMAX: The global theater chain keeps fans engaged on their small screens and excited to check out the next new blockbuster on the big screen.
Coca-Cola: The beverage giant has a strong presence on multiple social media platforms, and they use a mix of user-generated content, influencer partnerships, and branded campaigns to engage with their followers.
Airbnb: The vacation rental company has an active and visually-appealing presence on Instagram and Facebook, where they share a mix of user-generated and professional photographs and videos to showcase the unique properties available on their platform.
Nike: The athletic wear company has a strong social media presence, with a mix of product promotions, brand storytelling, and sports-related content to engage with a wide range of audiences.
Hootsuite: This social media management company uses its own platform to consistently share valuable tips and insights on how to improve social media strategy, making them a go-to source for social media professionals.
Why hire a social media marketing agency?
We use social media every day in our personal lives, and as a result of this familiarity, many businesses make the mistake of delegating social media marketing to interns, overworked staff or even family members. Realistically, this often results in wasted time, money and effort.
Hiring a social media marketing agency can help a business in several ways, including:
Expertise: A social media agency has a team of experts who are experienced in creating and executing effective social media campaigns.
Time-saving: Outsourcing social media marketing to an agency allows business owners to focus on other important tasks while the agency handles the social media marketing.
Measurable results: A good agency will have the tools and expertise to track the success of a social media campaign and provide measurable results.
Cost-effective: Hiring a social media agency can often be more cost-effective than building an in-house team, especially for small and medium-sized businesses.
Stay up-to-date with the latest trends: Social media marketing is an ever-evolving field and a good agency will stay on top of the latest trends and best practices to ensure that your campaigns are effective.
Ready to begin social media marketing for your business? Reach out to Lemonade today!
LEMONADE
Lemonade is a full-service ad agency specializing in creating authentic relationships. Our diverse crew of intentional creatives and strategists aims to connect brands with culture in ways that inspire action. From getting ahead of the latest social trends to decentralizing our thoughts on Web3, we create paths for brands to enter the conversation in meaningful ways. https://www.lemonadetheagency.com/#contact