What is the importance of Social Media Marketing?
Due to the impact of social media, the relationship between brands and consumers have changed a lot. Nowadays, companies create strategies after they analyze and understand the target consumer’s demands, likes and dislikes through Social Media. Social media has had a major effect on the world and business. Starting from an MNC or a small startup, everyone is adopting Social Media Marketing to make their brand or services visible.
Earlier traditional marketing mediums such as radio, TV commercials and print ads were very costly mediums. But now, through Social media marketing, companies or brands can connect with their target customers for free, the only cost is time. Using social media platforms like Facebook, Twitter, LinkedIn etc., you can lower your marketing costs.
Social Media Marketing is having a tremendous impact on business and market as business growth and performance are taking place at an astronomical rate. Social media helps in developing business tactics. Social media platforms like Facebook, Twitter, LinkedIn etc., show an opportunity for businesses to grab the attention of the customers while simultaneously building a brand image. These social networks allow businesses to use tactics to build and create brand profiles like fan pages, contests etc. Through Social media marketing, one can figure out the likes and preferences of customers as well as the latest trends adopted by the public. Social media marketing helps a brand/company to build a strong online presence by innovative social media marketing techniques and customer satisfaction.
Social media has countless benefits some of them are:
- Improved Customer Insights
Businesses get a better understanding of their customers by allowing them to share their insights, knowing that the brand is listening. Social media allows them to see what potential customer’s opinions are and network with them as well.
- Better Customer Service
Social media allows businesses to respond to customer grievances, questions, and concerns almost instantly. Customers want to be assured that, if they have a problem they will receive assistance at the earliest possible time.
- Cost Efficient
When a business is running on a fixed marketing budget, social media is the most cost-efficient way to market and promote the business. Websites like Facebook, Twitter, Pinterest etc., allow any business to share their content for no cost at all. Hence Social media is an affordable advertising platform.
Businesses will always be connecting with the customers in terms of changing preferences, lifestyles, and resources and adapt to the changing interest of the consumers.
- Establishing Brand Awareness
Through social media, it is possible to increase brand awareness among customers as businesses can create awareness by building company image.
Increased exposure through social media drives traffic to the company. This, in turn, converts potential customers to actual customers.
Some of the major social media platforms are:
- Facebook is a popular free social networking site on which registered can create profiles, upload photos and videos, send messages and keep in touch with friends, family, and colleagues. People can also create Facebook pages related to businesses, brands, and services. There are 2.07 billion monthly active Facebook users with an increase of 16% increase year over year.
- Twitter is a famous social networking website that allows registered members to write their messages through short posts called tweets. There are 330 million active Twitter users.
- LinkedIn is a social networking site designed for the business community, professionals, managers etc. LinkedIn has 467 million members connected. Basically, this site allows the registered member to connect and make a network of people they know and trust professionally.
- Instagram is a fast-growing social media platform that allows users to share their images, stories and promote their business. Instagram has 800 billion monthly active users. Instagram is used by many brands to promote their products, target their audience and drive real social value.
Here are the best brands on social and what I think you can learn from them:
1.Mercedes Benz – Repeated, successful social media marketing campaigns
Mercedes Benz seem to win every time with their social media campaigns. The one that stands out to me was back in 2013 when they created what I still believe to be one of the best Instagram marketing campaigns to date. Mercedes wanted to reach out to the younger audience so they hired five top Instagram photographers to each take the wheel of a new Mercedes CLA. Whoever got the most likes got to keep the car – so they all really worked at it!
By the end of the campaign, Mercedes has received:
- 87,000,000 organic Instagram impressions
- 2,000,000 Instagram likes
- 150 new marketing assets (stunning photos)
What lessons can you learn from this? Could you put your followers up for a challenge and make it into a competition or campaign?
- Can you do a competition that gets people trying out your product first?
- Think about your target audience. What is a prize they would value?
- Like Mercedes you could recruit bloggers/influencers via social media and get them blogging about your service or product. Whoever receives the most engagement wins.
5. Airbnb – Stunning imagery and UGC
What might look like a visual travel blog, Airbnb’s content attracts fans with their visual compelling posts. On Instagram they post user-generated photos from its hosts and guests. The content embraces their new campaign of ‘Don’t just go there, Live there’ which is captured through real photography. Each post receives high engagement, between 3,000 and 14,000 Instagram likes.
This is a great example of thinking slightly outside the box. Airbnb is all about accommodation. They don’t just post images of the inside of people’s homes. Seeing the culture and images of places all over the world comes with the experience of where you stay and that’s what connects with people. Think about your brand: are you just posting about the product/ service itself? Why not tell your followers a story instead?
Thanks for reading. I hope by reading these two social media marketing case studies it has spiked some inspiration! If you need any help with your social media advertising, influencer marketing or other aspects of your social media strategy, feel free to contact me.