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24 Jul 2017

4 Signs Your Business is Ready for Social Media Marketing

So your business is going quite steady and your current marketing strategy is working well enough to bring in customers – word of mouth, networking, relationships, cold calling etc… However, you’ve been hearing about all the success stories from other businesses killing it with online marketing, particularly on social media. That they are gaining thousands of online followers, regular leads, additional sales – most of which happen while they’re sleeping.

At this point you might be thinking that your business isn’t quite ready for social media. We’ve been working with many clients over the years who, at first, were unsure if digital marketing was right for them. But this thing has become so explosive, that ignoring it would just be leaving money on the table.

Before you get started, here are 4 signs to know if your business is ready for marketing on social media:

1. Have an Advertising Budget

Set An Advertising Budget

When advertising on Facebook began to pick up, it was dirt cheap. As its potential has been realised among business, advertising prices have become slightly more competitive. Fortunately, the cost of promoting online is still significantly affordable comparative to traditional media. To push out a decent marketing campaign online, a reasonable budget is required. To test the water, we recommend a budget of around $10 a day ($300 per month) to get positive returns.

The latest Facebook statistic shows that you can buy 1000 impressions for approximately US$7.34 (and is cheaper with better targeting). This would be a good place to start.

So think about cutting down on that coffee and put that money towards buying customers!

2. You Understand the Difference Between Branding, Advertising, and Marketing

Know the difference

Perhaps it’s irked you when people uses these words interchangeably to mean the same thing. However, when you understand the differences among the three and how they are used, it’s a sign that you’re ready to further your business online.

Branding encompasses tools that create association between what a business sells and with the customer’s ideals of the company. Branding is about the type of message that the company communicates through its marketing messages.

Gary Vayerchuk describes branding as “ how you feel in the moment when you interact with the product, service or business…you have a very specific innate reaction to your feeling about the brand…the greatest companies in the world don’t sell, they brand”

Marketing is the process of deliberate business activities that bring together buyers and sellers for an exchange of services or products. It includes formulating marketing strategies that uses advertising as a tool to execute the goals. Think about it, it’s always Marketing & Sales, not Branding & Sales nor Advertising & Sales

And Advertising is simply a mechanism to generate awareness and essentially buy eyeballs. It is a paid announcement to the public to promote a message. That message can be used to promote branding or used to promote the purchase of a product/service.

Our approach as an agency is to engage in social media marketing with 80% brand building and 20% conversion. So stay “social” instead of going in for the hunt all the time.

Which brings to our next point.

3. You’re More Brand Focused Than Sales Focused

trust

Gone are the days of put out a “buy me” sign then wait for customers to line up at the cash register.

Advertising is everywhere, and people have learned to block out all forms of advertisements – online and offline. Direct sales-focused marketing is no longer effective nor it’s likeable. And I don’t have to bore you with stats to make a point of how many marketing messages we see daily.

Today, it’s all about brand trust. In order to gain a customer’s attention to your company, your business’ marketing strategy needs to be carefully planned to increase consumer trust through positive brand awareness.

Sensis reported that 64% of consumers are more likely to trust a brand that positively interacts with their customers on social media. This number has increased by 12% since last year. Engaging and relevant content also contributes to consumer trust at 63%. Businesses that churn out too many ads or post excessive content deters followers.

If you are attempting to gain new customers, it is common knowledge to expect them to check your social media presence before purchasing online.

Investing into social media marketing could save you $$ on advertising if consumers are already positively receptive to your company. Or even better, they see you all the time on social media adding value, which prompts them to buy from you.

So if you recognise that brand trust must first be nurtured, you’re in the right track to successful social media marketing.

4. You’re Genuinely Interested in Adding Value for Your Customers

add value to customers

If you’re constantly asking yourself if the next product or marketing campaign will genuinely help your customers, then you have the right mindset. If you’re thinking, “Will this make me more money right now?”, then it’s probably best you steer well away from social media marketing.

It’s just not the right platform. To fully reap the benefits of online advertising, your marketing goals needs to be oriented towards adding value for your customers. You’re investing not just money, but also time, energy, and products/services into this pursuit.

So If you’ve said yes to all of these signs, then you may be ready to start your digital marketing venture!

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