Social media – ever since the term was first coined, has become a crucial part of digital communications strategies. The truth is, social media is the only platform which delivers measurable results in sales, leads, and branding. This is why businesses today are spending more than ever towards social media promotion.
On an average, a B2B or B2C business spends approximately about 15% to 25% of their marketing budget for social media marketing (organic and paid). In fact, as per the latest study by the Content Marketing Institute, social media content is the most widely used B2B content marketing tactic, used by 83% of organizations. This brings us to a very important question, is social media marketing and branding actually worth it? Let’s find the answer.
How does social media branding and promotion helps a business?
As some of the biggest digital marketers in the industry have repeatedly said, “social media platforms can be a goldmine for leads”.
Accordingly, social media branding can be a great tool for demand marketers, which, if used effectively, can help in:-
- Cultivating a desire for your products or services using relevant content,
- Leveraging a multi-channel customer engagement strategy, and
- Building authentic and meaningful relationships.
To sum up, irrespective of whether you’re a B2B company or a B2C company, a feasible social media marketing strategy, if followed consistently, can lead to higher sales and increased brand visibility.
However, the key is to choose the right social media platform to market your product. For instance, B2B lead generation is heavily focused on LinkedIn. According to a survey conducted by the Content marketing institute, “94% of B2B businesses reported LinkedIn as the best social media channel for qualified sales leads.
Having said that, the leads or higher sales are only possible if your business has a strong social media presence. A strong social media presence makes a brand looks more trustworthy and thus, influences the buyer’s purchase decision.
A good social presence increases the brand exposure, leading to higher internet visibility alongside increasing customers engagement with business. Apart from that, Social media branding and promotion enables a brand to reach a larger audience at a much-reduced cost. In 2015 alone, Facebook influenced approximately 52 percent of consumers’ online and offline purchases. (Source: Drum) Not just that,
- 93% of customers expect the prospect companies to have a strong social media presence before doing business with them.
- In addition, every 8 out of 10 B2B buyers trust recommendations from peers and influencers more than original brand research.
- Apart from that, 71% of consumers are likely to recommend a brand if they had a good social media service experience with them.
Bottom line: “Trust is the key to success.” Your targeted social media audience on Facebook, Twitter and Instagram are real humans craving for real human connections. In such circumstances, having a business page or a Twitter account wherein your customer can connect, interact and share their feedback would increase your brand’s credibility. Not just that, this leads to a higher prospect conversion and increases customer retention rate.