Social marketing. Still efficient or an old technologyApril 27th, 2018
For those who remember the first networking sites from the 1990’s, it is hard to believe that social networks are already two decades old.
Even though many of the first social networking sites do not exist, others have become internet giants with their business blossoming and their number of users growing in 2018.
So, considering social marketing an outdated and inefficient marketing tool is not quite true. It can be a highly effective way to reach your target audience given the millions of potential customers using the many social networking sites, but statistics show that not all marketers prefer it as a leading marketing tool.
About 77% of the marketers claim to use at least one social network for brand promotion, but whether they are generating an ROI from it is not so clear.
According to the Social Media Marketing Industry Report, only about 38% of them can actually measure their social activities. A mere 48% agreed that they are seeing a return on investment in social media marketing. This suggests that the others either cannot find the right platform or are not able to measure the effect of their social marketing efforts effectively.
In 2017, 42% of the marketers feel like their efforts on Facebook are working which is less than the 465 from 2016.
According to a lot of B2B executives, social marketing has not lived up to their expectations when it comes to return on investments and other metrics.
Why measuring your social marketing ROI is vital
So, it is essential to measure your social media marketing return on investment and this should meet your most important business objectives. If you find the right tool to measure your social media marketing you will get vital information regarding:
- Ways to advance your marketing efforts
- Deciding which social media platform brings the most revenue
- Monitoring how certain changes affect your social media goals
These statistics show that social media marketing could be a really effective tool, but if done on the right platforms and when you know how to measure its impact.
What is stopping marketers from using social media
Some companies refuse to use social marketing as a primary marketing tool due to various reasons including:
- The idea that this is just a fad and it will just pass. Once this may have been a good argument, but today with Facebook having more than 1.2 billion users and a business which rivals with the other internet giants such as Google and Apple, it is clear that it is not just going to “fizzle out.”
- Businesses believe that a higher priced marketing tool will have better results. The fact that you can still create a business page and post regularly for free doesn’t seem serious enough for some more traditional businesses. Plus they don’t see the reason behind hiring somebody to take care of their online presence when presumably they can do it themselves (which they rarely do).
- The difficulty of measuring the ROI. As the abovementioned statistics show, this seems to be a serious problem for many marketers and is one of the main reasons why they are avoiding the use of social marketing in the first place.
In conclusion, the answer to the question whether social marketing is outdated is “no”, but you always need to do proper research to find the best social media platform and marketing strategy, do proper targeting as well as find precise tools for measuring the ROI and impact of your social marketing efforts.
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