There are over 4 billion internet users across the planet, and 3.5 billion of them use social media. That equates to about 45% of the world’s population. Social media has become the go-to method for communicating with people you might otherwise not come into contact with. Yes, social media seems excellent for individuals, but what about businesses? Let’s take a look at a few pros and cons of marketing a business on social media to help you decide if it’s a right fit for your marketing mix.
Did you know that 73% of marketers worldwide believe that social media marketing has either been somewhat or very useful for their business? People who hear about a company want to find out more, and they will most likely turn to social media or Google to do that. These are a few other benefits of marketing on social media:
Increased brand visibility
A business that puts up a sign outside their front door will get the attention of a few passers-by. A company that places a weekly advert in their local newspaper will get the attention of more. Like handing out flyers at robots, and forking out for a ten-second radio advert, social media is another channel you can get your brand in front of people.
Cheaper than traditional advertising
By spending a few hundred Rand on boosting a Facebook post, a business can get in front of hundreds of thousands of people. To achieve the same results with television, print or other traditional mediums would cost much more. In addition to the cost savings, social media advertising gives you data regarding the consumption of the campaign.
Better engagement potential
The most significant plus factor of social media marketing has to be the engagement potential. Where traditional advertising is a business talking to a customer, social media facilitates a two-way conversation. Customers who see a brand’s promotions can ask questions to find out more, which helps them to make more informed purchasing decisions.