What is Social Media Marketing?
Social media marketing (SMM) is a type of internet marketing which depends on the social media platforms and websites to promote a product. The aim is to generate content that users will interact with and share, in an attempt to increase the brand awareness as well as increasing the reach of the brand as much as possible.
Trackability is important for businesses, so most of these social platforms comes with their own data analytics tools that make it possible to track the performance of the practices followed.
Social media marketing (SMM) also makes a business closer to its customers, where the customers and even potential customers can contact and interact with the business through comments, reviews, and etc. These are often known as earned media and are influential on other potential customers.
How does Social Media Marketing work?
Within the last decade, our buying habits have changed on a large scale, and are ever changing. Most people start their shopping experience online, and this puts pressure on businesses that deal with retail. These changes in behaviour force every business to have an online presence, and actually an active and well thought out one too. In most cases, a successful approach might need to go through increased visibility. This passes through a professional digital marketing strategy where the social media marketing is of top priority.
It is all about choosing the right social platforms and strategies to attract, convert, and satisfy the target audience which will bring the boost that every business needs to keep going.
With such a high social media usage, a business will definitely miss out on potential customers if they don’t carry out social media marketing.
One other benefit of practicing social media marketing is that it helps other marketing campaigns as well.
How to measure the performance of Social Media Marketing?
Set your social targets:
It is important to have set targets to where you are aiming at. This is the first and probably one of the most critical steps that you need to nail in the beginning.
- Set your metrics that you will measure your social targets
This is the step where you need to match the targets with measurable metrics.
- Start measuring the progress
Start measuring the metrics that fall into your interest and are aligned with your targets. Then use tools which measure those metrics.
- Continuous monitoring and reporting on findings
Report everything, use these first recordings as a base and build all your data on top of it, while keeping the first recordings as the benchmark.
- Make the necessary touches and repeat the whole process
Assess your measurement techniques and values, and see if there is anything that needs improving and work on those. Once you are satisfied with playing around with the metrics and mastering your findings, then repeat the whole process.
Which companies can benefit from Saypr’s social media marketing service?
With the changing shopping habits of people, the whole seller and buyer relationship together with the process of sales had to be re-thought. Many people start their shopping experience online, looking up for their targeted goods on the internet, comparing prices, reading reviews and even checking to see the popularity of the seller amongst other customers. These increased the importance of a good image and brand awareness for every seller or brand that is willing to continue their operations sustainably.
Social media marketing is a type of internet marketing, carried out over the social media platforms or websites to promote products. The main purpose of social media marketing is to generate content that will attract potential customers, increase the reach of the brand, and get the customers to interact with the brand, closing the gap between the brand and its audience. It is a good way to see how the brand is performing, how popular the brand is, how people react to the content shared through that brand’s social media accounts. Together with the analytics tools which gives statistical insights, all these information can be used to improve the brand awareness, and help on planning and organising for upcoming campaigns.
Any company that is willing to continue their retail business has to invest on their social media in order to adapt to this changing shopping behaviours of the new generations. The amount of investment that every company has to make on their social media marketing activities is debatable, but the fact that they have to start getting active and creative on the social accounts is inevitable.
Small to medium size companies
Depending on the targets and goals of small to medium size companies, we always encourage them to have a budget spared for social media marketing. If done properly, this is the cheapest way to reach the most people. Due to their size, these companies generally don’t have huge budgets to carry out campaigns to spread the word around. This does not mean that they cannot have success at spreading the word around and reaching many people, most of whom are potential customers. They might have to be more patient and wait a bit longer for it, but eventually, the goal will be achieved.
By having external companies like Saypr carry out their social media marketing, they will have a sustainable and organic growth in terms of followers. Engaging and interesting content creation is important and our teams are good at generating such content. The selection of right social platforms and the strategies to follow in these social media campaigns is important. If done correctly and accordingly, then there is no reason not to be successful.
Large size companies
Larger companies have bigger targets and goals when compared to smaller sized companies, so the strategies in carrying out their social media marketing will definitely not be the same as those smaller ones. They want masses to flock at their products, they want bigger conversions and they usually want it all to happen right away. The targets and goals might not be the same with smaller companies but the overall process remains the same, with a bit of a different approach.
The effort that goes into generating much bigger campaigns for these larger companies is proportionally bigger than those for a small to medium sized company. These campaigns are dealt with teams, in a more strategic approach with elaborate planning and coordination among all the sides that play a part in the campaign.
The audience dealt with when working with larger companies is usually way more bigger, and this needs to be kept in mind with every move or action taken. The diversity of people and the way every content will be interpreted should be thoroughly investigated before posting any content or going live. There is a fine line between success and failure. In such a world where almost 80% of all purchases are made as a result of being influenced by friends and family’s posts. It is very hard to gain popularity and positive attention but very easy to lose it at all at an instance. What we do when dealing with larger companies and their social media marketing accounts is to carry out brainstorming sessions with them and learn their target audience and expectations, so we can tailor campaigns and strategies according to these. Generally the target audience for a company does not change much from the target audience they set when they first set up their companies, but in the new world, where things change overnight, we have seen cases where the targeted audience was changed. Having such a radical change would require turning back to the drawing board and restructuring things, such as your brand voice or tone content types.
User generated content, content strengthening the company’s values, brand voice, use of influencers and reverse engineering of the social media feedback to improve customer satisfaction from your products are some of the things that we help companies with.
How much will Social Media Marketing cost your company?
Well, it all comes down to the needs and requirements of the company. If the goals set are too ambitious and time frame allowed for such a campaign is short, then this might require larger amounts of money spent over very short periods of time, whereas a slower paced and less restrictive cases might not require as much money. It's not only the cost of getting the social media marketing service, but the cost of the actual strategies that will be followed is what determines the cost. It is hard to tell whether a company is getting a good deal or not from outside, but once the approach and steps to be taken is investigated, then a more correct judgement can be made. Also, what governs the pricing is the services that will be provided, and at what frequency will those services be repeated, such as if its a content generation task, how frequent is that going to happen.
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