If you are a business person, having a brand image is very important. It is an intangible asset to your company in general. The innovation of technology has changed the perception of building a reputable image from traditional to digital advertising. Among the marketing strategies available online, social media marketing has emerged as the most cost-effective method. While it is free of charge, doing business is not as easy as it seems. Aside from exerting too much time and effort, you should also understand that social media is not a quick rich scheme. Below are the lists of cold hard truths about social media. Understanding every single truth will help you set up realistic goals.
Truth#1: Success Does Not Happen Overnight
People think that promoting your business through various social media sites is easy. The truth is, the platform is not a magic bullet. Just like any other career, success does not happen overnight. Yes, social media sites will take your business to the next level, but it will take time and commitment. Just because it is not an overnight success, does not mean it is not effective at all. Implementing an aggressive and consistent advertising and marketing campaign will generate sales at a future time.
Truth#2: You Are Investing in Relationships
The purpose of building a social media platform is to interact with the people by exchanging information. It was not intended as a marketing platform. Business gurus took advantage of the idea because business is all about promoting your products and services to the people. These people can be found on social media easily. People make decisions according to their emotions, trust, and interest. To foster relationships, you should be social, share personal and interesting stories, live free values, create engaging conversations, and be an authority or resource in your chosen industry.
Truth#3: It Is Free but You Need to Pay for It
Everybody knows that social media is free. Whether you’re managing a social media or not, the effort demands an investment. The more money you invest, the better the results will be. Some businesses give social media a try without spending money and they blame the specific social media platform they signed up for not working. Being successful in social media marketing means you should have killer graphics, complete tools and software, live streaming and video, targeted advertising, and a ton of relevant, unique, and interesting content.
Truth #4: Content Is the Key, but Engagement Is the Reason
Broadcasting your motivational quotes and blog contents on social media is one of the winning strategies you can use. A simple post of your content is not enough to benefit from social media marketing. Yes, it is a good strategy, but this is not the only option. Relationship building is a core tenant, that’s why engagement with the readers or users is a ‘must’ to have an effective strategy.
Truth #5: Success Does Not Mean Generating Only Direct Revenue
There are too many companies that guarantee a double income. They tend to sell you using the idea that generating revenue is easy with ads. While generating revenue is easy, it is not the only purpose of social media. As you can see, generating revenue comes from other places other than just directly running the ads. Sometimes, the return is not direct monetary. If you are using social media to generate immediate revenue, and you ignore the importance of other features, then you are missing the whole function and purpose of Social Media.
Truth#6: The Understanding of ROI May Be Different
If your fellow businessmen tell you that they see 300% ROI, you will be impressed by their earnings. The question is, where do they get such a high amount of ROI? Did they measure that figure according to the number of visitors they are getting from social media, or they are calculating the time of the employees working full time on their campaign? As crazy as it gets, ROI sometimes can be subjective because most of the times they are self-reported. Therefore, it is hard to get an accurate amount of earnings on social media.
Truth#7: You Can’t Sell Without Being a Human
Social media is utilized best during the communication stages, but business owners still want to use the platform to convert every follower into a profit. While they can always do it, it is not a good idea to jump into conclusion. The truth is, your connections, friends, and followers in social media want to know you and hear your story. You tell a relatable story, present the problem, and create a solution. People would like to know how your business can improve their lives. In the first instance, don’t expect them to buy but expect to gain trust and build a relationship.
Truth#8: Your Competitors Are There
Nearly 80% of people are using Social Media. They are of different demographics and all age groups. Irrespective of your location or industry, always assume that most of your customers can be found in social media. Create an account for your business. If you aren’t reaching them, your competitors will take advantage of the idea that you have no online presence. The point is to be where your customers are.
Truth#9: No Two Platforms Are the Same
Despite having the same purpose, no two platforms have the same features. Each channel has its own strongest feature. They function differently, their audience demographics may be different, and they may even have different language conventions. Of course, they may have the same cross-platform, but the whole approach is customized. Therefore, the methods of engagement for consumers is different.
Truth#10: It’s Harder to Get People’s Attention and Engagement
As the platforms grow, most people spent more time posting and sharing on social media, thus making it hard for you to grab people’s attention. Remember that you are not the only business person in social media platforms. Therefore, knowing what content will resonate their attention to share it can be difficult. It is even harder to foresee what will go viral or become a trending topic.
Everything is challenging with social media marketing. If you understand the behavioral patterns of your customers, you can serve them better. If you are authentic, open, and accountable, you are definitely on your way to success. Don’t let your fear keep you from moving forward.