With over 2 billion Facebook users and ever increasing users on other Social Media Platforms like Instagram, Twitter and so on, many startups are taking to social media as a tool for marketing and branding efforts. Marketers across the world are using this engine to promote products and services across diverse verticals for their clients
Social media marketers use this tool to generate credible leads for their clients. These leads turn out to be potential business opportunities. Social Media is also a significant contributor regarding building strong SEO. Social Media Marketing agencies use it for various purposes, and not just as a marketing tool. Establishing a new brand, launching a new product, managing an event, or boosting off the shelf sales, social media platforms, if used effectively, can be profitable investments to achieve all these goals.
Though it is one of the most effective marketing tools, myths about social media marketing persist. Following these myths and believing in them might undermine the power of this tool and lead to disappointing results regarding ROI.
To avoid this, we are sharing the three most common myths of Social Media Marketing:
All Platforms Suit Every Business
Startups have limited resources concerning marketing investments. In such a scenario concentrating marketing efforts on social media can prove to be profitable. However, entrepreneurs need to take care while choosing the appropriate platform for their product, service or brand. All social media platforms attract a different kind of users. Each platform is built with a completely different audience in mind. For example, for someone looking to develop B2B connects or appeal to the stakeholders or decision makers in companies, LinkedIn might be a better platform as compared to Facebook. While deciding on which social media platform to go for, entrepreneurs should select one which has the highest potential of bringing real business value and engages with your target audience directly
Only Likes are Important
The increment in followers does not necessarily mean increment in business conversion. Running after steeply increasing followers or likes is not necessarily a productive strategy. The primary target of posting should be engagement rather than just traction. Identify your potential clientele or customer base. Invest time in focused user research in the pre-strategy stage of your marketing or branding effort. Understand your customer’s likes and dislikes. Observe their behavior on social media platforms closely. In the first few months, build your brand and nurture a trust-based relationship with your initial followers. These followers, in turn, become your brand ambassadors. Follow the principle of quality first, quantity later
Paid Promotion does not Generate Revenue
Paid promotion is an option available on almost all social media platforms. Using paid advertisements as a tool which you can push your products or services to reach the targeted audience faster. Each user on a social media platform builds his/her profile. Likes, dislikes, most visited pages, interests, friend circles, and so forth is the data collected by social media platforms from these profiles. A specific cost, depending upon the client’s budget, can be paid to use this valuable data for paid promotion. The business value generated by this activity depends on the correct identification of potential clientele or customer base. Paid promotion can bring a significant return on investment if used wisely. Make sure that you have split your budget correctly, chosen the right platform and are pushing quality content through paid promotions. Relevant advertisements garner maximum traction hence prove more useful