We are living in the age of the internet, an era where the human connect is often via a virtual medium. Today an average person is spending 2-3 hours on social media every day and hence it is not really a surprise that of late a lot of interest & activity is centred around the social media platforms like Facebook, LinkedIn, Twitter. Instagram etc.
This is especially true from a business perspective where a large number of marketers are using these platforms to market their products & services to the end customers. This was evident during the Corona pandemic where amidst restrictions & cancellations for in person events, budget cuts and all sort of uncertainty, firms invested in social media strategies to engage potential customers.
PlayStation launched its #PlayAtHome Campaign online encourages users to stay home and stay safe during pandemic by downloading its games for free and playing. They regularly posted content on social media like gaming footage, streaming events, etc. It resulted in them getting 10 million + downloads
Let’s look in detail as to why it makes sense for businesses to invest in social media marketing
- The shift in the word of Advertising
Brands, especially new brands, are reducing investments in Television, Radio & print ads because about 55% of consumers learn about brands or companies on social media. This is primarily GenZ and millennial, a user cohort which is a digital native. As their spending power increases if you don’t capture their attention first, your competitor will.
- Interaction is now a 2 way street
Instead of broadcasting content as was the norm earlier, brands and users of today want to engage in more meaningful dialogue via social media – Customer Reviews, brand engagements, social media contests, teasers, surveys etc. This interaction engages the customer and creates a positive influence on him / her
- Content consumption is at an all-time high
With the pandemic lifestyle consumption of online content has increased rapidly and so has the dependence on social media influencers. Users now seek interpersonal connections, interaction and validation through these influencers and business firms are trying to leverage popularity of & reach of these influencers to widen their user base as well
- Boom of E-commerce
With restrictions due to pandemic as well as safety & hygiene concerns that many consumers have, more and more consumers are shopping online these days and what they see on social media can act as a strong driver for this. With rise of social commerce this will further increase
Main challenges faced by businesses these days while trying to build their presence on social media are not having enough resources, lacking a strategy, building a community of followers, and tracking results. If you are also facing the same challenge related to social media marketing then consider investing in the best social media company in Muscat.