4 Reasons Not Having a Social Media Strategy Can Hurt Your Business
Posted at Aug 26, 2016 3:00:00 PM by Nathan Mendenhall | Share
It’s hard to imagine that there are still businesses out there that don’t quite appreciate the power that digital marketing and social media have. It’s actually pretty common that a new business wants to get discovered and increase sales, but don’t want to invest the time or money in a proper social media strategy. While there are some great benefits to creating a successful social media strategy, not having one can really hurt your business. Here are 5 reasons why!
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 $.12 per click? The average cost per click on Google Adwords can be between $1-$2, 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 could get exposure with even the most niche audiences. If you aren’t employing a social media strategy, you are probably paying way too much for your current digital advertising campaigns.
Consumers Expect Access to Brands
Did you know that the average person checks their phone approximately 150x per day and check Facebook roughly 14x per day? 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 therefore would be statistically 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. Furthermore, 33% of consumers prefer to use social media rather than the telephone to contact brands for customer service. With this expectation of access and responsiveness, not having a social media strategy could cost you customers and revenue!
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 optimizing 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. How do people usually discover and digest blog content? Social media! Distribution of your content through a solid social media strategy attracts users to your website, generates social signals and demonstrates authority. All of these factors are correlated with better search rankings. Social profiles themselves rank in search engines, so if you don’t have profiles established, you are 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 optimization of your website.
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. Also, you can position your brand as a go-to resource for you industry with your content strategy. Without a social media strategy, you are 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! 4 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. Check out this case study from one of our THAT Agency clients who we were able to help drive revenue and engagement with a proper strategy. Check it out!