Is Social Media Still Important
for Digital Marketing?
Newspaper advertising peaked at a spend of $125 billion per annum before the decline of newspapers. Social media played a large part in the decline of print advertising.
Between 2019 and 2015, internet advertising spending doubled. In 2015, $156 billion was spent on internet ads. By 2019, this had risen to $299 billion.
Social media is one of the most effective forms of digital marketing. Unlike some other channels, social media commands attention. Many websites suffer from high bounce rates, but social media is a different beast.
But as time progresses marketing techniques change. Is social media still vital to digital marketing, or are things changing once more?
How Important Is Digital Marketing?
Print advertising dominated for centuries. The first American newspaper advert was published in 1704, but there is evidence of print ads dating back to Ancient Egypt.
Where once newspapers dominated the print advertising world, the internet now commands attention with digital marketing.
Digital marketing is essential because it allows brands to reach a global audience. More so, it allows brands to target specific demographics and connect people with relevant content.
Here are some benefits of digital marketing:
- Targeted adverts
- Measurable results
- Increased engagement
It is the last item on that list that illustrates the gulf between digital and print marketing. Digital marketing group 3WH says that social media encourages engagement which helps to generate leads and increase conversion rates. Engagement creates brand loyalty in a way that print ads just can’t.
Is Social Media Still Vital for Digital Markers?
While digital marketing strategies are ever-evolving, social media remains an integral part of online campaigns today. The way social media is used in marketing evolves to suit current trends.
$72 billion will be spent on social media ads in the US alone this year. The global social media advertising sector will reach $207 billion in 2023. There is no sign of a slowdown either. Growth is projected at a CAGR of 4.35% up to 2027.
SMM lets brands connect directly with their target audiences. Businesses can create content that keeps consumers engaged and develop bonds that lead to customer loyalty.
Social media platforms themselves provide tools to help businesses target audiences, and measure success through analytics. Social media marketing enables businesses to drive traffic, increase awareness, and generate all-important leads.
How Does Social Media Benefit Digital Marketing Campaigns?
There are countless ways in which social media benefits digital marketing. Here are six ways that social media helps marketers develop successful digital marketing campaigns.
Increased Brand Awareness
One well-known benefit of using social media is increased brand awareness. When social media is used well, businesses can raise awareness of their brands immensely. The right content will be shared and spread like wildfire helping a brand’s audience to grow swiftly.
Increased Engagement Levels
Social media helps brands build an audience and lets them stay connected. Social media lets brands and consumers connect on a personal level. When brands can develop trust and loyalty they will receive higher levels of engagement.
Social media also offers numerous tools and ways to increase engagement through Reels, polls, and video content.
Better Customer Service
Brands such as Wendy’s have been noted for their clever use of social media. Consumers can ask questions and leave feedback directly on Twitter or Facebook and receive a swift reply. When this is done correctly it can even result in posts going viral which can be worth more than the best advertising campaign.
Marketing has changed immeasurably over the last few decades, but one thing hasn’t; it can be costly to advertise new products and brands.
Social media advertising is far more cost-effective than TV, print, or radio. One reason social media ads are cost-effective is that they can be targeted.
Effective Targeted Ads
Many traditional advertising channels offer a scatter-gun approach with no way to target specific audiences. But social media networks offer tools to target audiences based on prior behaviors, search terms, interests, and geography.
Agencies such as 3wh point to targeted ads as being one of the best ways to increase conversions.
One reason why social media marketing works is that results can be measured. Click-through rates and conversion rates can be monitored. Bounce rates can be assessed and content tweaked. And campaigns can be altered to make them more effective.
Amazingly, 70% of online businesses fail to monitor their social media marketing for effectiveness. It is easy to learn how to track social media impact and ensure you are getting a good ROI.
Failing to use social media in digital marketing can lead to a drop in customer retention. Strong online brand awareness can attract a following, and if you neglect yours, your customers might head to the competition. Ignoring social media also means missing out on valuable data and analytics that can be tracked through SMM campaigns.
Not using social media means missing out on increased engagement, and the chance to take your customer service to another level. All the big brands use social media in digital marketing, and it won’t be changing any time soon.