According to a report published by The Drum, “34% of marketers have no plans for social media advertising. Unconvinced of it’s ROI”
A nice little article, but I find the figures astonishing as the most powerful tool in advertising is word of mouth; social media is the digital tool that provides marketers direct access to pools of consumers in a wider scale than ever before. For those who cannot see the ROI in this by now, I sympathise because this is the year where those who do understand Social Media will make thrust forward and out of sight of those who don’t.
So I thought I’d try give a few brief reasons why social media is a worthwhile investment;
1. Social media is a low costing marketing tool.
You don’t need to pay to have a presence on social networking sites like Twitter, Facebook, Google+ and LinkedIn; you just need to be there.
2. Social Media is a gateway to your market
Engage in conversation, building relationships, and being genuine in this (I’m not promoting manipulation by any means). Just be yourself, and share who you are with others. Helping others solve their problem naturally increases the potential of someone wanting to help you out, or buy your product.
3. Social media is a great way to increase your market reach
With over 800million viewers on Facebook, 1.6 searches made on Twitter every day, and 135 million users on LinkedIn alone. How can this not be a returnable investment.
The ROI comes from relationships, word of mouth, making a difference. The only cost you will pay is time, and depending on the size of your company, resources. I fully believe the investment far outweighs the return, if only for the sheer richness of opportunities, knowledge and interest it presents. Yes it costs time, but there are simple steps that can be taken for those without the budget or resource to hire someone from outside. This is one opportunity no business can live without – in my humble opinion.
I could go into this in so much more detail, but in the interest of keeping my blog post short and readable, I won’t. Any questions, feel free to drop me a message and I will answer.