The trick to social media marketing is knowing the foundations of what makes it work so well. Making money for your business is a huge pro (and what might be your goal on paper), but social gives companies an opportunity that was harder to come by before smartphones became our best friends.
With social media, you can develop a relationship with your audience in a way that wasn’t possible before Facebook went viral. We get to use social media to talk to our audience and show them we really know our stuff. The right social media marketing strategy speaks to your cold, warm, and hot leads on one platform.
And that’s what leads to revenue.
When people see you as more than a company with a fancy logo and more as a relatable expert in your field (B2B or B2C!), businesses thrive. We’ve seen established businesses use social to increase their audience reach, and we’ve also seen companies come from using social (for example, influencers launching merch shops).
Let’s go over the basics of what social media marketing is to build on a rock-solid foundation.
What is Social Media Marketing?
Social media marketing is a strategy that uses social media platforms to connect with your customer avatar and bring them through the Customer Value Journey. The Customer Value Journey is the 8-step process a customer goes through, from finding out your brand exists to becoming a raving fan of your products or services.
Here’s what the Customer Value Journey looks like:
With social marketing, you’re going to target customers in the first 2 stages of the CVJ, Aware and Engage. Generate awareness of your brand and your marketing campaigns and get your customer avatar to engage with your content (blog posts, podcast episodes, etc.) by driving them to your website.
These are the basics of social media marketing that you think of when you decide to launch your strategy. But, there are other pros to having a social audience. You can use your audience to discover what your customer avatar wants to learn about and what topics interest them. Using that knowledge, you can create content around it, lead magnets, or paid products.
You can also use your social audience as a testing ground for paid campaigns. Test out copy and ad creatives on your social feed to see how your audience reacts. The content that has the most engagement, views, or conversions is exactly the content you want to put ad dollars behind.
Social media marketing is a huge opportunity for most businesses. Even the most niche industries can find their customer avatars online. But that doesn’t mean they have to.
Do You Need to Use Social Media Marketing?
It’s easy to say yes to this question and pretend that everybody should be using social. We’ll say confidently that 90% of companies should use social, but there is a small percentage that shouldn’t.
If these are your goals for your business (or the company you work for), implement a social media marketing strategy:
•You want more leads and customers
•You need more revenue
•You’re looking for more social proof
This is why 90% of businesses have the green light to start a social media strategy. What business doesn’t want more leads and customers?
Well, that brings us to who shouldn’t start a social media marketing strategy. If your business is feeling like any of the below, your social strategy should wait while you fix the leaking holes:
•You can’t keep up with the demand for your products or services
•You don’t have the capacity to give your customers a 5-star experience
•You’re a one-person show and you don’t have any extra time
If any of these are the case, it’s way more important for you to spend your time plugging those leaking holes (by creating systems, delegating and hiring, simplifying your packages, etc.). Once you can keep up with demand, continue to give your customers a 5+ star experience, and have the time to create high-quality, useful content—then you can implement your social media marketing strategy.