The Top 6 Social Media Marketing Strategy For Businesses in 2020
From the days of being used as a tool for only branding and prospecting, social media has evolved into a tool for marketing and sales. The social landscape is changing and more people are comfortable buying products from brands that they are interested in through social media.
“The number of social network users worldwide is projected to be 3.43 billion in 2023” – Statista
Businesses are making the most of this shift in consumer behavior and have started looking at trends to help increase their budgets for social media campaigns. This is helping marketers to look at different tactics and strategies that can be used to bring in conversions through social media.
Here are 6 ways of using social media for marketing and sales to bring in more conversions.
1. Social Selling
Social media has become a medium for communication between buyers and vendors. Whether it is physical or a digital product, you need to be able to connect with the buyer through social media. Buyers expect active assistance from your customer care and so it becomes vital to maintain an active social media presence for any customer care representative.
It is imperative that the reps form a relationship with the buyer, develop trust, and offer valuable advice when needed to solve buyer inquiries.
With more people using their smartphones to search for stuff online, more people are buying from social media sites directly. One thing that you need to remember is that your products are sold while ensuring buyer comfort and convenience.
2. Social Proof
Social proof is one of the most important and prevalent methods used by brands to establish their credibility in the marketplace. Every company website has logos, reviews, and customer testimonials. They all serve to remind the customer about the past experience of buyers who had similar expectations from the brand and their experience.
Now with social media, this is really easy. The customers are more than willing to put in a word or submit a review about a company that they support. You can use social interaction tools that crawl the web for conversations that revolve around your brand for this purpose.
You can also encourage your customers to use UGC ( User Generated Content ) tools to leave testimonials or submit reviews, from an authorized account. You can publish such highly valuable content on your website and promote your brand on social media.
3. Ad Retargeting
As algorithms used for running social media sites like Facebook keep changing, your Ad remarketing campaigns also need to evolve accordingly. As organic reach has started to go down, you need to be highly specific and fine-tune your campaign to suit your audience and demography.
As a brand, you need to come up with retargeted marketing campaigns that are based on data of your leads in CRMCRMCustomer Relationship Management (CRM) is a method to manage a company’s communication with existing and potential customers. With a huge record of the behavior of their customers, data analysis is conducted, and business relationships with the customers are enhanced. It specifically focusses on customer retention and ultimately increases sales. or email campaigns. Through such personalization, your brand can customize ads that are suited to your audience and keep them interested in your brand.
Though there are many platforms that offer customization and custom ad targeting features, Facebook is the best social media platform when it comes to outreach and precision. Though LinkedIn too is widely being used to reach out to the customer based on demography, it is still quite expensive for small businesses.
But, if you can afford it, it can be highly effective in figuring out which regions and messages drive lead nurturing among your target audience.
4. Making Better CRM Data
Discounts and offers alone are not enough to get your prospects to buy your products. It is an effective step but there are other things that need to be done.
To get a better view of the customer, you need to use the power of social media to enrich your CRM data. You can track and qualify your prospects with the actions that they take on social media.
By using social media management tools, you can now enhance CRM data by knowing how the customers have interacted with your system at different stages. This action might be a like, retweet, comment, or even clicking an ad button. As a brand, you can now determine which action now qualifies prospects as leads and store this data in your customized CRM.
By doing this, you understand exactly what happens during the process and help you determine the topics of interest of your leads.
5. Competitor Analysis
Sometimes as a marketer, it is a good idea to look at what your competitors are doing. This might open you to new things happening in the marketplace or stay in touch with the current trends.
Paying attention to the social media metrics relevant to your industry is a sign of things to come and could possibly reveal key customer trends. You can then use this metric to develop your own customized marketing strategy.
In today’s marketplace, it is not enough to just study your own social metric, it is equally necessary to have an understanding of your competitors. There are tools like BuzzSumo which allow you to look at both your competitors as well as industry standards and you can leverage this to drive your sales and marketing.
6. Real-time Engagement
Social media offers you a never-before-seen opportunity of engaging with your audience, which includes your prospects and leads, at the same time. The power of engaging your audience in a conversational setting represents a shift in lead nurturing.
Using brand hashtags, you can now engage your audience. Also conducting Q&A sessions can help address customer pain points. You get a glimpse into the deeper pain points and iron out the marketing strategy based on the suggestions and inputs from your prospects.
More and more marketers are adopting real-time engagement methods to further lead nurturing and seeing the benefits of using video marketing and online webinar sessions to keep in touch with their leads. For example, Compelling video content such as live videos can be a great tool that can make your brand stay in the minds of your audience.
Today, the core of marketing has shifted from just providing value to customers to establishing trust and fostering a long-lasting relationship with your customer. At the same time, it is becoming easier to get further customer insights with the rich variety of tools flooding the market.
Social media is here to stay and brand marketers are beginning to experience the massive benefits of using it the right way to reach out to their target audience.
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