The growth of social media platforms and the emergence of different social media channels over recent years offers priceless marketing opportunities for the average marketing agency. On average business retailers encounter increases in revenues of 133% after marketing their business in the mobile market.
Social media marketing utilizes one of businesses oldest and most reliable sources of advertising – word of mouth, on almost every social site there are options to share, like, comment, and tag meaning any approving customers can easily share their review with friends and family.
On the other hand this can also be a marketing disaster, if the product or service does not meet client expectations, a bad review and perhaps the loss of hundreds of potential business prospects are only a click away for the unsatisfied customer.
It is important to remember that it is very common for people to take to their computer, laptop, or phone when it comes to complaining but often takes an exceptional service for a ‘’like” alone on a Facebook page.
When embarking on a social media marketing strategy, it is worth thinking very carefully about who your target audience is. There will be people ‘subscribed’ to your socials that aren’t necessarily potential clients, but will nevertheless have a big impact on your marketing efforts.
Over 80% of social media users are potential influencers, it is worth targeting the accounts with the most followers and a bigger ‘share’ and ‘like’ rate. Common sense says the more recognized accounts that are sharing your account and its posts the more business turn over you will receive.
Again the only draw back of having a large social media following is the effect a negative review can have on business and reputation. Some may say social medias responsibilities to businesses are lacking in efficiency because you don’t need to have been a client of a business to leave them a bad review and therefor a bad reputation and perhaps in turn effecting their custom.
Is social media marketing worth the hassle?
In my opinion? Yes
Although there are a good few draw backs of which could negatively effect revenue there are so many more reasons and benefits for a business to have a social awareness.
- 40% of online shoppers from the US use the Smartphone for in-store shopping.
- About 71% of the consumers respond accordingly to the feedback and recommendation of social users regarding a particular brand. (Not always a good thing)
At the end of the day if your business is as good as it should be and your marketing and information is appropriate it is very hard for people on or off social media to leave negative feedback and in turn effect custom negatively.