Business is complicated. New companies appear every day. Most of them fail and only a small number of firms will be successful. In order to be successful, marketing is essential. We are living in a completely new age, one that is modern and based on a digital approach. While traditional marketing is constantly losing efficiency, new marketing methods are becoming more effective. This does include social media marketing, which is now an essential part of all companies that try to compete in the modern world.
There are various things that can be said about social media marketing. Just as with every single marketing type, there are advantages and disadvantages associated with it. We will mention those advantages that are the most important so that you can quickly realize how important it is to use social media as opposed to regular marketing channels.
Lower Financial Investments
The first thing that you will realize when you look at the regular marketing methods that have been used for years is that they are highly expensive. Businesses have to pay huge amounts when they advertise in newspapers, on billboards or on television. In order for a campaign to be effective, it has to be cost effective. The truth is that traditional marketing is simply not cost effective anymore.
Statistics highlight the fact that just around 2% of people will contract distributors and are interested when they see a regular ad. This is mainly because of the fact that a regular ad that appears in the channels mentioned will interrupt the viewer. Also, most of the ads are not properly controlled so the viewers are not going to be interested in the products that are advertised. Social media marketing makes sure that just the intended target audience will see ads and in some instances viewers can even participate.
Engagement stands out as a vital advantage of using social media marketing. On the internet, people will willingly participate in an activity that is interesting for them. Customers that become involved in what the company or business offers will start caring about the company behind the services/products. We are thus faced with social involvement, which will lead towards increased customer satisfaction and clientele numbers.
Buying ads on TV or in newspapers is really expensive. The truth is that only larger companies can actually afford this. Compare the high prices associated with traditional marketing channels with the free ads potential that social media offers.
There is no longer a need to buy air time or to rent an ad on a billboard. There is no necessity to pay for paper or ink in order to distribute business fliers. Everything can be done in the online world in a way that has an increased productivity and that is close to free.
As you can so easily notice, the modern business will not be able to survive in the new digital world without using internet marketing. Social media use is nowadays highly affordable and effective. It does not matter how large the company is since it can easily market itself in a proper way on the internet.