Don’t be a Bill the Butcher – Social Media Marketing, what can it do for your business?
Don’t be a ‘Bill the Butcher’. Are you falling behind your competitors when it comes to Social Media Marketing?
Remember that scene in Gangs of New York where the fresh influx of immigrants arrive off the boat and Bill the Butcher unleashes another tirade? This scene has always stayed with me, and it’s not because of Bill, or the immigrants, it’s because of the reply to Bill’s rant. In a nutshell it is explained to Bill that the world is changing every day. There are new people, new processes and new ways of doing things, he warns Bill to move with the times or risk falling behind. Think about Hoover and Dyson, Blockbuster and Netflix. This couldn’t be more prevalent when it comes to social media marketing.
The likes of Facebook, Twitter and Instagram are more useful for organic lead generation through good brand awareness and engaging content (posts). We live in a new world: A business and it’s reputation can be made or broken in one night, sometimes, all it takes is one post.
Gain valuable customer insights
Social media generates a huge amount of data about your customers in real time. Every day there are over 500 million tweets, 4.5 billion likes on Facebook and 95 million photos and videos uploaded to Instagram. Behind these staggering numbers is a wealth of information about your customers – who they are, what they like, and how they feel about your brand. Through daily active engagement and social listening, you can gather relevant customer data and use that information to make *smarter* business decisions.
Increase brand awareness and loyalty
When you have a presence on social media, you make it easier for your customers to find and connect with you. By connection with your customers on social media, you’re more likely to increase customer retention and brand loyalty. A study by The Social Habit shows that 53 percent of people who follow brands on social media are more loyal to those brands.
Run targeted ads with real-time results
Social ads are an inexpensive way to promote your business and distribute content. They also offer powerful targeting options so that you can reach the right audience. For example, if you run an ad campaign on LinkedIn, you can segment things like location, company, job title, gender and age – the list goes on. If you’re running a Facebook ad, you can target based on location, demographics, interests, behaviours and connections. You can track and measure the performance of your social media ads in real time.
Generate higher converting leads
Social media increases sales and customer retention through regular interactions and timely customer service. In the 2015 Sales Best Practices Study from research institute MHI Global, world-class companies rated social media as the most effective way to identify key decision makers and new business opportunities. In the State of Social Selling in 2015, nearly 75 percent of companies that engaged in selling on social media reported an increase in sales in 12 months.
Provide rich customer experiences
Even if you aren’t on social media, most of your customers expect you to be. Over 67 percent of consumers now go to social media for customer service. They expect *fast* response times and 24/7 support – and companies that deliver win out. A study by Aberdeen Group shows that companies engaging in social customer service see much bigger annual financial gains (7.5 percent YOY growth) vs. Those without (2.9 percent).