Why Startup Should Invest in Social Media Marketing?
If you want to acquire customers for your startup, there is no speculation to circumvent social media marketing from your customer acquisition strategy.
Today, social media heightened the most influential medium through which people get invigorated to make a purchase.
According to a survey;
54% of users use social media to research products.
There is a notable boost in buyers on social media who are actively looking for reviews & recommendations to make a purchase.
Now let’s have a quick glance at why a startup should invest in social media marketing.
Benefits of Social Media Marketing for Startup
Mow Down the Marketing Cost
Social Media Marketing(SMM) is notably the most budget-friendly way to launch your new products or services in the market. Research shows that:
90.4% of Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active social media users.
This stat is itself is uncovering a lot of opportunities on social media for startups. Suppose, you have just started your entrepreneurship journey & you have budget constraint then organic reach with hashtags(#) on social media can do a lot for you. You can easily target your audience with related hashtags.
Now you must be thinking that organic reach is dead. However, It isn't true for all social media platforms except for a few like Facebook(organic posts reach is just 5.5% of Page followers).
There are other social media platform like Instagram & Twitter where you can reach your new target audience through relevant hashtags & intriguing captions.
It will be like the cherry on top if you have enough budget for Social media ads. You can run an organized ad campaigns on various social media sites including Facebook.
Better Customer Service
With social media marketing, startups can directly interact with customers. It will also facilitate them to solve their issues or concerns right away. And according to a recent survey:
71% of customers are more likely to recommend your brand to their network of friends if they get a quick response.
No matter how good your products or services are, what matters is customer experience. Good customer experience through social media will help startups to generate more business than any other marketing tool.
A startup should respond to both positive & negative customer feedback on social media. It will make users feel like you care for them. And what can be more influential than to make a customer feel touched?
Retaining a customer is more challenging than acquiring a new customer. And according to a new survey;
Customers who follow your brand on social media networks stay loyal and also likely to share them.
Make your social media marketing strategy in a way that you can share engaging posts on social media with intriguing captions & related popular hashtags. And there is no need to share posts only about your products or services all the time.
Suppose your target users are 'entrepreneurs', you can share motivating & inspiring quotes once in a week to stay engaged by them. Try to attract your customers with emotions, logic & stats. Sometimes we only miss "common sense" to attract & retain our customers.
Build Positive Brand Image
Social media marketing is all about interacting with your target customers on social media platforms in an interactive way. If your customers will follow you on social media & get inspired by your endeavoring social media posts then they will definitely engage with your brand. Once they will start engaging with your brand, your brand image will gain a J-curve.
The energy and effort that you put in to promote your startup on social media are truly worthy. If you haven't planned your Social Media Marketing strategy, it's time to get started with it.