Social media has changed the way businesses can reach new customers. Find out if using social media marketing is right for your business.
In today’s day and age, you have the option of choosing from many types of marketing including traditional marketing outlets like radio, tv and postcards. You can also choose to market your business online through social media, SEO and PPC. But how do you know which one is right for your business?
If you are looking for a type of marketing that is able to reach the most people for the lowest cost you may want to consider using social media over traditional marketing. In addition to reaching more people, not having a strong social media presence for your business can end up costing you in the long run.
One of the biggest advantages of social media marketing is that it has the lowest cost per thousand impressions (CPM). What is CPM? It is the average cost to reach one thousand people. For example, if someone tells you the CPM of the campaign is $10 ten you are paying $10 on average per 1,000 people to see your message.
Social media marketing boasts one of the lowest CPMs, averaging $1 to $4. Other mediums, such as direct mail (average CPM of $26) and magazines (average CPM between $8 and $20), do not offer you the exceptionally accessible data that social media does.
The results of a traditional marketing campaign are somewhat measurable, but it is much easier with social media. Not only are statistics available in real time but the detail of the information is higher as well. The ability to review these statistics on user’s demographics and interactions with your content allow you the make data-backed adjustments to your marketing content in the future and even while a campaign is running!
Not Using Social Media Could Cost You
So many people rely on social media and online reviews to make decisions on where to eat, shop and spend their hard earned money. With the universal accessibility of smartphones, a quick search might leave you in the dust if you either don’t have a profile set up or yours lacks effective branding. Between people sharing photos of products, tweeting out their experiences, and checking into businesses, a well-executed social media presence can grow your brand and bottom line exponentially.
All this being said you might wonder why someone wouldn’t want to reap the benefits of all this. For many small businesses, the greatest struggle to get a social media presence going is time. That’s where we come in. Contact us today to learn more!