Why Social Media Marketing Matters
According to The State of Social Media Marketing 2017, a new study by Simply Measured, successful businesses rely upon experts for social media strategies, content creation, monitoring, and campaign analysis. In fact, social media spending is projected to increase to 17.3 billion by 2019.
“The expected rise in social media budgets is based on bringing social more fully into the marketing mix. Today, too many companies view social media as a siloed activity. That view is dying. Social will get more budget as more companies realize that social signals have to be attended to during the customer lifecycle. Social activity has been too long ignored from an attribution standpoint. Social channels will soon be sales channels,” says Scott Fallon, VP of Marketing at Simply Measured.
Marketing agencies drive ROI for brands by supporting efficient social media strategies. The study showed that 85.3% of marketers create social media content for brands, while 80.3% monitor social media sites, 77.9% build strategies and 74.5% analyze campaigns.
The social media outlets most used by marketers are Facebook (98%), Instagram (88.6%) and Twitter (83.3%). In 2017, the focus of marketing agencies was to align social strategy to business objectives (65.7%), build new social strategies for brands (62.8%), and develop content (62.5%). Currently, there are 2 billion people on Facebook, 700 million on Instagram and 328 million on Twitter. A properly executed social media campaign can effectively transform a middling business into a virtual powerhouse.
Given that 86% of people ages 18-29 and 80% of people 30-49 actively use social media, any business that is looking to expand its reach and impact its ROI should be using social media for promotion and advertising. Brand awareness among these populations is crucial to ensuring long-term success since these are the consumers of the future.
In the end, social media serves to create brand awareness, enhance brand reputation, generate revenue and retain customers. Is your company adequately responding to these challenges?