Why is Social Media so Important?
Before I jump into my spiel about the two most important social media sites, I want you to take a few minutes and take these questions into consideration.
- What is your goal in social media marketing?
- Why type of customers are you trying to engage?
- What resources can you dedicate to your efforts?
- Can you measure and track your success?
Compare each of your answers with the solutions offered with each social media platform and see what combination really works best for you.
I like to call Facebook “the referral”. In 2010 Facebook users revealed that 67% of them would be more likely to purchase a product if a friend of theirs was a “fan” of the company. There are currently over 500 million users on Facebook today. Their numbers continue to grow at an astonishing average of 700,000 users per day. Each user averages 130 friends. If you reach that one customer and they “like” your fan page, that is released to their entire friend list of 130. This continues to domino through the network beginning with that one user. We’re talking about HUGE client engagement potential here and because these “referrals” are coming from friends, the user will be 67% more likely to purchase from you than if they were a cold lead.
Facebook has a myriad of options for businesses to create traffic to their fan page and convert those fans into sales. These can even be drilled down to a clearly targeted audience based on things like: age, income, location and interests.
All of your efforts are clearly measurable with Facebook’s own reporting system and you can track traffic back to your site through your Google Analytics.
To manage a truly compelling Facebook page requires daily maintenance and constant feeds of information that the customer will want to see. Big corporations typically have a team to manage their efforts on Facebook and small companies typically look to a firm (like us) to help manage their Facebook efforts.
Facebook in review:
- Reaches a large and targetable audience
- Requires a big time commitment or a small budget commitment
- ROI is easily tracked
YouTube is only second to Google when it comes to search engines and is home to over 50 million active users. By 2014, online video advertising is expected to hit 5.7 billion. What this is really saying to you is: YouTube offers a HUGE opportunity for you to engage and reach your current and potential clients.
YouTube’s market is more defined than Facebook with ages ranging from 18-55. There is no way to distinguish that particular person’s demographic, so marketing to a specific audience is difficult. However, you can choose to market on other people’s videos instead of on your own increasing your chance of hitting a specific demographic.
The good news: 51% of YouTube’s 50 million users log on at least once per week; 52% of those users regularly share videos with friends and colleagues.
The bad news: advertising on YouTube is very spendy and creating videos can be costly and time consuming.
YouTube in Review:
- Reaches a large audience, but it is difficult to target
- Requires a big time commitment or a large budget
- ROI is not easily tracked
After extensive research, 180fusion has decided to launch its Social Media Accelerator Program (link to page). The primary focus of this program is Facebook and the reasons are pretty obvious. 180fusion is here to provide you the resources and knowledge that you may not have within your own company — and all for a very small budget spend.
If you want to know more about any of the topics covered above, please don’t hesitate to call me directly using the company’s phone number or by commenting below.