Rejecting Social Media: A Costly Mistake in 2018
Social media can prove overwhelming for those who don't quite understand it--a scary world beyond those posters and flyers you were accustomed to using before. But, it has become abundantly clear that social media and content-rich marketing will be extremely important in 2018. Not only for B2C but B2B as well. And if you aren't on board this new digital trend, then you will undoubtedly limit your businesses' potential this year. You don't believe me? Ask 87 other professional market researchers why they agree with me and why you should too.
Rejecting social media could in fact be the most costly mistake a marketing team makes in 2018. As of January 2018, 88% of Businesses are using Social Media and some 81% of the US population. Oh you have one you say? Well when is the last time you updated it? You see, creating an account is half the battle. It requires time, effort, and a variety of resources.
Even though you might have a social media account, it does not mean you're truly present and active on the platform. You are not effectively using the platform to its full potential if you are not consistently engaged and creating new content for your potential customers.
In fact, not engaging with your customers--i.e. responding to comments, questions, concerns, could be costing your business money. Customers admit to spending 20-40% more on brands that engage with them on Social Media. Through content-rich marketing campaigns and careful attention to your followers, you could generate more engagement and a larger consumer base online or within your community.
Not only is social media effective for e-comm based businesses, but also community-driven shops and restaurants. Adequate and well-targeted social media ads can keep locals visiting your store or shop, and, thus, keep your lights on through the off-season. Approximately 49% of Social Media users purchased a product or good because of social media ads they saw in 2017.
And while many businesses choose to hire someone to repost cheap stock photos or random content, others have found great success carefully curating their own unique photos and videos. Certain companies have found that hiring boutique-style social media production and marketing teams has paid for itself tenfold.
Many of us are visual learners, and the content that a brand chooses to put out, can determine the effectiveness of a social media campaign. In fact, as much as 90% of the effectiveness of a social media ad is based on content that the viewer sees. So, why take a photo of your ugly dog and post it, if you own a large clothing store?
It's unbelievable to think that a world without social media once existed. Social media can be a difficult pill to swallow for many business owners. And yet, you can't just turn a blind eye to the statistics available. In fact, today 2/3rds of Americans admit to getting their news solely from social media platforms like Twitter, Facebook, and Instagram. Without social media, you are completely cutting off a major portion of your prospective consumers. And, it looks like Social Media's importance in our society will only continue to rise.
Social media has become a platform that alters the trajectory of a business. And, in a sink or swim economy, failure to use social media could be a major lapse in judgement by a business.
Think social media is only for millennials? Well, before you write off this article as only pertaining to younger audiences. Think again. 84% of 30-49 year olds use social media as well. With over 81% of the United States using social media, up 5% from 2016. This number is only going to continue to rise.
It goes without saying, a brand would be short-sighted to not take into account the economic impact of not using social media effectively for their business. The most effective investment a company will make in 2018 is on their social media marketing and content.