What is called Social media marketing & why should I do it?
Social media marketing is all about promoting your product or service in social media sites like Facebook, Twitter, Instagram, etc. Almost 2 in 3 Indians who have smartphones are on some kind of social media site. The average Indian social media user spends 17 hours on the platforms each week. This makes social media strategy apt for marketing.
These social media also have huge data on their customers their interests, education, profession, location, etc these data can be very useful for us to target our specific audience which makes social media very effective for conversions.
How should I market my product or service on social media?
The very simple answer to this question is to market your product where your audience is. Though simple, this strategy is usually overlooked. One more important point is, to know what you are doing and why i.e always have a goal that is SMART specific, measurable, Attainable, Relevant, and time-bound.
The next quest that hits our mind is,
How do i set goals for my marketing strategy?
One of the best ways of understanding your Marketing goals is asking questions to your self and people who are related to the process. The basic questioner may be like
- why do you want to be on social media?
- who is your target audience?
- what do you plan to offer?
- How do you plan to offer?
- Where do you plan to offer?
- what is the ideal time to offer?
Remember in terms of return of investment (ROI) reaching 500 potential clients is far better than reaching 5000 random audiences.
The true understanding of social media marketing comes with an understanding of the various users of the predominant social media sites and how to get their attention. The strategy for different industry is different so is for different social media platforms.
Where should I market my product or service?
There are many social media sites and new ones are popping up fast. As far as the Indian market is considered Facebook is the king of social media marketing strategy. Having said that many social media sites like Instagram are fast eating into the Facebook market share.
With the availability of cheap high-speed internet everywhere the usage of video as marketing means has gained huge popularity. The video format of marketing is dominated by youtube and many social media sites like tik tok are growing in popularity.
Now let us take a small peek into the users analysis of popular social media sites
- Facebook:- As per Statista Facebook has 2498 million active users the highest number hence its best for b2c customers. You can focus on customized audience here.
- Linkedin:- Just like Facebook is ideal for b2c customers linked in is ideal for b2b customers. It has professional details and demographics of millions of users.
- Twitters:- If you have a business, book, or product that impresses youngsters then twitter is your ideal. Remember you have to tell your story in 140 characters.
- Pinterest:- Majority of the Pinterest users are females hence ladies based products are ideal for Pinterest. Pinterest can also be a gold mine for business who can advertise their products in Picture formats like restaurants and interior designers.
Apart from these, there are general sites like Wikipedia and quora which can be effective in building trust for the brand. Google reviews are also an important factor in customer engagement.
The important point to remember is that social media is a double-edged sword lots of negativity in social media can also destroy the brand reputation.
What social media marketing strategy should I employ to increase the sales?
The time tested marketing strategy for sales is the sales funnel. The funnel is a cyclic process of sales which can be repeated switching the targeted audience. The Funnel strategy is not recommended for brands that are extremely popular and have fixed products or services.
Initial/ reconsideration of brands
To understand the funnel we must first understand the customer’s journey to purchasing.
The cycle begins when customer decides he wants something. Then he considers all known brands and compares the value they provide along with how cost effective the product or service is. Then customer checks if the offers, payment options, shipping charges and feasibility. Then sale is completed. Customer uses the product and if he like he will come back for more.
There is also another cycle of sale we contact the customer offering them with our product or service which will make their life or work simpler. Example an app that keeps track of all the ads that we run on various social media platforms for various accounts can be very useful.
The marketing strategy is capitalizing customers on each stage and converting them into loyal customers.
The funnel strategy usually consist of three stages
Brand Awareness Campaign
Marketing strategy begins with customers considering various brands for their purchase if we want customers to consider our brand for their purchase they must be aware of its existence, This is where the brand awareness campaign comes in. The sole aim of this campaign is to take the brand name to as many relevant audiences as possible.
Customers are looking for answers for their problems or interested in something that can provide value. and they will be interested in your campaign if they get some value from it.
Brand Consideration Campaign
The next step is converting these interested clients to potential clients. Our next aim must be to give these customers reason for using our product. The more powerful the reason more conversions occur.
Remember even at this stage do not push for sales. We are only trying to give reason for using our product or service. At this stage we can also state our competencies our strengths along with the value we provide, but don’t overdo it.
Now that we have given enough reasons for customers to buy our product or service, we can now push for sales. Remember always give the easiest path for the sale. Call to action is the most important aspect of such campaign.
Audience selection is another important aspect, we have to choose our audience carefully, Retargeting the audience who interacted for your brand awareness campaign is also a good strategy.
Once the sale is completed provide the customer with best of products or services along with good customer care. Because satisfied customers are the best promoters and they keep coming for more.