Leverage the Digital Goldmine with Social Media Marketing

 

The digital landscape has become the largest and consistently expanding marketplace in the world today. According to Oberlo more than 33% of the world’s population is shopping online and global ecommerce forecasted to touch US $5.8 Trillion in 2023 and surpass US $8 Trillion by 2027, at a growth rate of 7.6%, no business can afford to ignore this digital gold mine.

The Importance of Social Media Marketing

When we talk about the Digital Marketplace it is important to highlight the fact that Social Media has become the largest contributor to online revenue generation worldwide. According to Statista the revenue generated by Social commerce was valued at US $728 billion dollars in 2022 and is slated to hit over US $6 trillion in revenue by 2030.

With figures and statistics such as these, effectively leveraging social media becomes a crucial component in any successful marketing strategy. 

What Makes Social Media so Valuable?

Social Media is an ever expanding landscape of potential customers who can be engaged 24x7. A study by Kepios shows that there are over 4.76 billion social media users worldwide which translates to over 50% of the global population and the numbers continue to grow at an average rate of 4 users per second. It is also observed that on average users spend approximately 6 to 7 hours online every day. 

The Unique Value Propositions of Social Media Marketing for your Business

Leverage Global Reach

Social media can provide your business with phenomenal global reach, enabling you to target and engage with an ever growing global audience, 24x7, at minimal cost.

Optimize Audience Targeting and Engagement

Social Media platforms allow you to run extremely targeted marketing campaigns. Identify your target audience by demographics and psychographics. Serve your ads to your specific audience worldwide.

Engage with Interactive Marketing Campaigns

Social Media platforms enable you to serve ads using a variety of media which includes text, images, info graphics and video. You can also run personalized campaigns and serve personalized ads. This enables you to showcase your products and services to your target audience in a variety of engaging and interactive ways.

Measurable and Dynamic Marketing

Social Media platforms provide you with analytic tools by way of which you can track and analyze campaign performance based on real time in–depth data. Their ad serving platforms also allow you to adjust and optimize campaign strategies in real time based on performance data.

Leveraging Social Media for Your Business

Effectively leveraging social media requires a comprehensive and in-depth marketing strategy. Today we find a variety of tools and ad serving platforms which help launch, manage and automate social media marketing campaigns however it is important to keep in mind that tools and serving platforms are only as good as the people who utilize them. Basing social media marketing campaigns on tools and automated platforms without in-depth research, analysis and empirical data which is specific to your business goals, will not help you achieve your engagement, lead generation and conversion goals. In-fact by basing campaigns simply on tools and automated platforms you may end up negative ROI.

Therefore as a best practice it is crucial to engage the services of an experienced digital marketing professional who can help you create effective strategies based on in-depth research and analysis to leverage Social Media and fast-track your growth.