Impact of social media marketing on your business in Nepal
Social media marketing can be stated as the process of gaining traffic or attention to your business through social media websites. Social media marketing involves activities like posting updates, images, videos, and different content with the sole purpose of audience engagement. For people who want faster engagement and bigger target audience, social media marketing offers paid social media advertising too offering powerful tools for businesses to reach current and potential customers. Moreover, it simplifies and overcomes the problem that traditional platforms like traditional print ads and TV commercials were never quick to solve. An average Internet user today has more than 7 social media accounts and close to 73% users show activity on their respective accounts every day. You will always be a step behind in this modern world if you don’t embrace social media and digital marketing technologies.
With such widespread use, social media marketing is an irresistible marketing opportunity in not only Nepal but across the globe. In a broader sense, social media marketing is more than simply gaining traffic and attention as gaining traffic simply is one of the outcomes of social media marketing. Social media marketing is more than the entire process of achieving that goal. It is about creating content that is tailored to each platform to cater to the interest of the wide array of user and their engagement and sharing.
- Increased Traffic: Many people are spending a considerable amount of time on social media. Therefore, it makes for a perfect medium to drive traffic to your website. Social media if done right, has great potential to become a major source of traffic to your website. Social media supports a plethora of formats, hence when you are sharing text, images, videos, podcasts, etc. you can draw in more audience to your website targeting the larger audience based on their preferences. Social media is a great medium where the posts can be easily shared thereby allowing your brand to reach to multiple users, in different locations regardless of their time zones. In summation, social media directly impacts the traffic that comes to your website.
- Brand Awareness: Social media offers immense opportunities for brands to come out with their creativity in crafting social media campaigns and promotions. Building brand awareness requires dedicated hardship and efforts over a long period of time that requires you to constantly prove to your customers that they can lay their trust on your brand. Being visible on many social media platforms will increase your exposure, reach and help you to connect with more social media audience and grant you a considerable head start to your business. Make sure the content is enriched with educational content, creative infographics, informative articles, charts and impressive pictures. Educational content helps to position your brand as an authority because when you focus on teaching and not selling on social media, your brand awareness will grow multiple folds.
- Brand Loyalty: All marketers agree that their most ideal customer is one who is a loyal customer since we all know that it is 10 times more expensive to sign a new customer than keep an existing one. Brand loyalty is an action where consumers prefer one brand over another for the same products. Brand loyalty develops slowly over time only when a company is able to create a trusting relationship with their customers. Brand loyalty is extremely important to any businesses as it leads to repeated buying by consumers, which leads to higher revenues and increased customer referrals. Brands need to leverage the power of social media by cultivating audience on Facebook, Twitter, Instagram and many other social media platforms. This helps create a loyal fan base and followers who will purchase your products and carry your brand on their shoulders as a brand ambassador. Brand loyalty can be built by offering excellent customer service over social media such as resolving queries and complaints that have been posted on social media and sharing the experiences of customers on social media.
- Improved Customer Insights and Service: Businesses get a better understanding of their customers by allowing them to share their insights, ensuring them that the brand is listening to them and their voices are being heard. This creates a positive impact on the social media audience by depicting that you take care of the customers on real-time basis and that you deeply care about your customers. Social media allows them to see what potential customer’s opinions, feedbacks, queries are and network with them as well. Customers today, prefer to post on social media rather than talking on the phone or interact face to face. They would rather share their problems faced relating to the product on social media, and expect immediate response from the brand. Social media allows businesses to respond to said customer grievances, questions, and concerns almost instantly. Customers want to be assured that assistance for any problem they encounter is received at the earliest possible time.
- Effects on Competition: You cannot ignore the presence of other brands on social media. Needless to say, a competition drives most of the brands to perform higher on social media. You can easily keep track of your competitors’ actions, the campaign they launched recently, posts are they are floating, best performing posts, and so on which helps to develop an insight on your marketing strategies. Your competitors might already be ahead of you in building a strategy for a strong social media brand presence and there are high chances that they are investing their time and efforts to build a positive online social presence for their business growth. Not having a social media brand presence will automatically deprive you of all the benefits of social media. When you don’t have a social media brand presence, your competitors will likely be on an advantageous high ground. Social media helps you analyze and compare yours and your competitor’s strategies to determine the absolutely necessary steps required to win over competition.
- Sales: Social media offers an opportunity for brands to increase conversions due to high customer interactions and satisfactory services. As per research social media marketing has a 100% higher lead-to-close rate than any other prevalent marketing strategies. This data makes social media marketing critical for all brands, no matter the scale of the business who are aiming to increase sales. You should learn how to engage and inform your social media audience about your products so that it ultimately leads to the sale of your product. Many existing brands have already integrated social media platforms on their sites so as to take the social media interactions up to sales.
- Expenses: Social media is the most cost-efficient way to market and promote the business when a business is running on a fixed marketing budget. Websites like Facebook, Twitter, Pinterest etc., allow any business to share their content practically for almost no cost at all. Hence Social media is an affordable advertising platform. Comparatively as well, online digital marketing such as social media marketing is far cheaper than any other available form of offline marketing techniques and easily reaches a larger audience.