Social Media Marketing seems to be the most recent buzz word for anyone aiming to increase their online presence 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 telling anybody that will listen about how incredibly crucial social media like Facebook twitter and YouTube are to your company however, for the average small to medium sized service, does marketing to social networks really live up to all the buzz? Social media marketing companies are all too delighted to point out the positives of social media like how many people utilize Facebook or how numerous tweets were sent out last year and how many individuals view YouTube videos and so on but are you getting the complete picture? Being the research study nut that I am, I chose to take a good appearance into SMM in regard to selling to see if it really worked, who did it work for and if it did why did Social Media Marketing work for them?
As a web developer I was continuously (and now progressively) confronted with numerous social networking difficulties when potential customers would say that having a site sounds good however they had a Facebook company page and had actually been told by various sources (the ever present yet confidential "they") that social networks were the important things to do, but after discussing their requirements it became rather clear that those prospective clients didn't really understand why they needed socials media or SMM to produce online sales, They simply desired it. For small and medium sized company I constantly recommended constructing a quality site over any type of social media, why? Well it's simple actually because social media is Social Media, and social Networks are Social Networks they are not service media and business networks (that would be more like LinkedIn). I understand that sounds easy however it holds true and the data back it up. The truth is that social media marketing fails to inform you that Facebook is a social network not an online search engine and in spite of the number of Facebook users and Google users being around the very same, people do not use Facebook in the same way that they utilize a search engine like Google (which has around half the online search engine market), Yahoo and Bing to search for business or items. They use it to stay connected with family and friends or for news and home entertainment. In a current research study done by the IBM Institute for Organisation Value around 55% of all social media users mentioned that they do not engage with brands over social media at all and only around 23% in fact purposefully utilize social media to interact with brand names. Now out of all individuals who do utilize social media and who do engage with brands whether purposefully or not, the bulk (66%) say they have to feel a business is interacting honestly prior to they will interact.
How do you use 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 for the most parts especially if you are a little to medium sized local service because much more people 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 do not have a website you're losing out on all that prospective organisation. However regardless of all the (not so good) statistics I still believe it is still a good idea for company to utilize social media simply not in the same way that a lot of SMM experts are today, Why? Due to the fact that it's clearly not operating in the method they claim it does. Essentially SMM Business and Company as a whole took a look at social networks like Facebook as a fresh market ripe for the picking when Facebook began getting users measured by the millions PayPal co-founder Peter Thiel invested US$ 500,000 for 7% of the company (in June 2004) and considering that them a couple of venture capital firms have actually made financial Website investments into Facebook and in October 2007, Microsoft announced that it had purchased a 1.6% share of Facebook for $240 million. Considering that Facebook's modest starts up until now (2012) both SMM Companies and Service have actually stopped working to truly capitalise on the huge number of Facebook users online. The reality is numbers does not equivalent purchasers. Is it in a Social Media Marketing company's best interest to talk social media networks up? Absolutely. Is it in a Social Network like Facebook's best interests for individuals to think that business can sell en masse by marketing and advertising with them? Of course it is. In early 2012, Facebook disclosed that its profits had leapt 65% to $1 billion in the previous year as its earnings which is mainly from advertising had jumped practically 90% to $3.71 billion so clearly the idea of SMM is exercising for them but it is working out for you? Well ... statistically no, but that does not always indicate that it never ever will.
One of the most significant issues company face with social networks and SMM is perception. The primary factor most people offer for connecting with brand names or company on social media is to receive discounts, yet the brands and business themselves think the main reason people interact with them on social media is to find out about brand-new items. A lot of companies believe social media will increase advocacy, but only 38 % of consumers concur.
There were some excellent efforts shown in the IBM study of business that had actually gotten some sort of a deal with on how to use social media to their benefit, keeping in mind that when asked what they do when they interact with organisations 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 USA ice cream company called Cold Stone Creamery offered discount rates on their products on their Facebook page. With both Cold Stone Creamery and Twelpforce the benefit is plainly in the favour of the great technique & the prospective consumer to social media marketing is to offer without trying to offer (or looking like your selling) sadly most social media marketing is focused the wrong method.
Developing a concrete purchaser to consumer relationship by means of social media is challenging and probably the most benefit to organisation' utilizing social media to increase their websites Google rankings. Company' need to comprehend that you can't simply setup a Facebook service page and hope for the best. SMM needs effort and prospective consumers have to see value in exactly what you have to use through your social media efforts give them something worth their social interaction and time then you might get better outcomes.
Now just as a footnote Facebook shares have actually dropped to under $20 per share, that's half their original rate ... and the suits are flying
As a web designer I was constantly (and now increasingly) faced with several social networking obstacles when prospective clients would state that having a website sounds excellent 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 requirements it ended up being quite clear that those possible customers didn't actually understand why they needed social networks or SMM to create online sales, They simply wanted it. Well it's easy really due to the fact that social media is Social Media, and social Networks are Social Networks they are not company media and organisation networks (that would be more like LinkedIn). In a recent 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 business that social media in a lot of cases especially if you are a little to medium sized local service since 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 don't have a site you're missing out on all of that possible company. The main reason the majority of people offer for interacting with brand names or company on social media is to receive discounts, yet the brands and organisation themselves believe the primary factor individuals interact with them on social media is to learn about new products.