4 Reasons Not Having a Social Media Strategy Can Hurt Your Business

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It’s hard to imagine that there are still businesses out there that don’t appreciate the power that digital marketing and social media offers.

It’s actually pretty common that a new business wants to get discovered and increase sales, but they don’t want to invest the time or money in a proper social media strategy. And while there are some great benefits to creating a successful social media strategy, not having one can really hurt your business.

Here are four reasons why not having a social plan can be a major misstep:

 

4-reasons

 

1. Social Media is the Most Cost Effective Way to Target Consumers Online

What if I told you that our agency routinely sees highly targeted website traffic from Facebook for as little as £0.03 per click? Let me show you this example. We designed a logo for Thula Thula Safari Lodge. We posted the new logo onto our Facebook page and boosted it for 5 days. The entire campaign cost me £9.00. The analytics show me that I had 267 Engagements and 1,734 People Reached. Best of all I have new contacts making enquiries! Where else can you spend so little on advertising – reach 1,734 targeted audience and potentially invoice £thousands in revenue from 1 post? It’s up to me now to convert those enquiries to sales!

5-big-mouth-design-company

The average cost per click on Google Adwords can be between £0.20, so you would be paying up to 20x more in some cases.

The targeting parameters social advertising offers are so detailed that with the right strategy you can get great exposure with even the most niche audiences. If you aren’t employing a social media strategy, you’re probably paying way too much for your current digital advertising campaigns.

2. Consumers Expect Access to Brands

33% of consumers prefer to use social media rather than the telephone to contact brands for such interactions

Did you know that the average person checks their phone approximately 150x per day – and checks Facebook roughly 14x per day? You may not, but your potential client does!

Since digital consumers are addicted to being digitally connected, they expect accessibility to the brands they do business with. By not having a social media strategy, these users have much less access to your brand, and are therefore less likely to do business with you.

It’s estimated that 67% of consumers now turn to social media sites as a way to get customer service. It’s true!  On several occasions, having had no response from customer services, resorted to social media to get a speedy response. Furthermore, 33% of consumers prefer to use social media rather than the telephone to contact brands for such interactions.

With this expectation of access and responsiveness, not having a social media strategy could cost you customers and revenue.

67% of consumers now turn to social media sites as a way to get customer service

3. Social Media Boosts SEO

I don’t proclaim to be an SEO expert, however, there has been a fundamental shift over the last few years when it comes to optimising a website for search engines.

In the past, marketers would spend hours trying to build links and stuff keywords everywhere possible. Now, content is super important when it comes to search rankings. And how do people usually discover and digest blog content? Social media.

Distribution of your content through a solid social media strategy helps attract more users to your website, helps generate social signals and demonstrates authority – all of these factors are correlated with better search rankings.

Even social media profiles themselves rank in search engines, so if you don’t have profiles established, you’re losing real estate for your brand with certain searches.

Long story short, not having a social media strategy is a disservice to the search engine optimisation of your website.

4. Customer Retention

The top inbound marketing tool that can help bolster customer retention is email. A close second is social media.

With an effective social media strategy, you can help influence repeat business through high-quality customer service, customer sentiment analysis and social advertising to specific segments of your customer base. You can also position your brand as a go-to resource for your industry with your content strategy.

Without a social media strategy, you’re likely missing out on some key tactics that can help keep your customers engaged, happy and continuing to do business with you.

There you have it – four solid reasons why not having a social media strategy can actually hurt your business. While social media marketing is something that takes a lot of time and practice to do right, social media marketing drives business value.

If you would like a conversation about your social media, give Karin a ring on 01425 480296

Original article by Nate Mendenhall and edited by Karin du Plooy