Category: Social Media Marketing

Is Your Market Worthwhile?

Many businesses that establish themselves without putting proper thought into defining a good market, may subsequently fall off the radar sooner or later, or fail to succeed beyond banal profits and income. The idea of a good market is a crucial aspect for any new business to consider, and if your idea doesn’t satisfy a good market, then the venture may produce more sweat than cream, and ultimately prove not being worth it. So how can you make sure your business idea is congruent with a good market?

A good market is comprised of three main criteria being measurability, profitability and accessibility. Measurability means that your market niche can be assessed and that you’ll be able to conclude market trends, find out consumer preferences regarding your products or services and also be aware of your market size. Profitability indicates whether a market is worthwhile in terms of it’s potential for profit and evidence of foreseeable demand, market size and other factors. For example, if your market only targets large men, then it’s lack of versatility may see fewer profits. Accessibility refers to being able to effectively reach your market through advertising while maintaining budget. It also means that the market you’re targeting has easy access to your business.

Establishing a good market for your business may be the difference between success and failure or regular and considerable profits. The above criterion should be used when defining a market for your business, and will help you work out whether a good market exists and whether you should move forward with your venture.

Top 7 Social Media Marketing Goals to Set In 2020

Social media platforms have become an important marketing tool in today’s digital world. However, they keep on evolving and force marketers to find out new methods for approaching target customers. Today, social media platforms such as Facebook, Instagram, and others have more than four billion users worldwide. Thus, a brand needs to do its best to impress its target audience.

But this is not at all an easy task. According to a survey by a Digital Marketing Agency in Australia, more than 80% of the small businesses in the United States use social media for sales, marketing, and customer service. Since the competition is highly proactive and agile, one needs to be up-to-date with the latest trends in social media marketing.

To succeed in social media marketing, one first needs to set up goals. In this article, we have listed the 7 social media marketing goals that you should set for your business in 2020.

7 Social Media Marketing Goals to Set In 2020

To create a killer social marketing plan for your business, we have listed 7 social media marketing goals. These can help you drive more traffic to your website and ultimately increase conversions. You can have a look at the goals below:

Choose your channels wisely

In case your business is already active on social media, you need to first consider the social media channels you are using once again. In case you are not, you need to consider which social channels you want to be active on. This is because there are several social media platforms available online. However, each one attracts a different kind of audience. If you do not use the right social media platform, you can lose on potential followers.

To do this, one needs to define the target audience and create a detailed profile of the typical customer. Creating a detailed profile is important as different buyer personas use different social media platforms and thus demand different strategies for social media marketing. You need to learn about the different features of your target audience, such as location, age, gender, personal interests, values, etc. These details can be easily learned through website analytics as well as social media. Below are the largest and most widely used social media channels across the globe:

  • Facebook: This is one of the must-have social media platforms that has over two billion users worldwide. The users differ by age, style, interests, and other features. This platform is suitable for all kinds of businesses as it attracts a wide variety of people.
  • Instagram: Instagram is the biggest image and video-sharing social channel. It is best suited for product-oriented firms that are targeting young people. More than 70% of Instagram users are younger than 34 years. Hence it is the best platform if your target audience is the younger generation.
  • YouTube: In case your services need a good share of explaining, then uploading videos on YouTube can turn out to be one of the easiest ways to engage users.
  • LinkedIn: LinkedIn is another social media platform that works well for B2B organizations as well as other high-level customers.

 

Drive Traffic to Your Website

Regardless of how eye-catching your site or web pages are, if your website is not attracting target visitors, it will not generate sales. Thus you would not be able to achieve your business goals. Social media is a great way to attract traffic and bring in more users to the website.

One needs to aim for target traffic, i.e., the people that can easily become loyal fans of your brand and can be converted into paying customers. You should be specific while going after the target audience, as they’re important for generating more revenue. You can try out different ways to drive and boost traffic to your business website.

Build Meaningful Connections with Your Audience

Followers are an important part of building your brand and expanding it. One needs to focus on creating meaningful connections as well as valuable experiences on social media. This can be done by cultivating and encouraging interactions with your followers.

Be it promoting positive values or advocating sustainability and eco-friendliness, one needs to know as well as understand what the target audience cares about. This would help you in coming up with high-quality content that can get people talking while giving them a feeling of belongingness. You should try to add a personalized and humanized element to the brand. This allows you to directly connect with your potential as well as current customers while engaging in real-time conversations and increasing consumer trust.

Below are some points that you can implement for improving the social media engagement of your business:

  • Do not post too little or too much
  • Use the correct hashtags for bringing the maximum engagement
  • Maintain a consistent voice throughout different posts
  • Post at the right time

Expand to new platforms

Talking about social media platforms, there are a few newcomers that show marketing potential and can be added to your social media marketing plan. Such newcomers can unlock a different pool of audience segments.

Taking an example, TikTok is a budding platform that is booming and is attracting even well-established brands. Below are some tips on how to use TikTok to your advantage:

  • Make a TikTok account: Whether you are a small business or a big brand, you should make use of a new social media platform as soon as you have the resources for it.
  • Navigate the terrain: Ensure that you post consistently and keep a check on what works best, and at the same time, keep an eye on other prospective newcomers in the market.

Post authentic and creative content

Creativity is one of the best social media strategies to aim for. Creativity can even be considered as the king of social media. This is because the more creative you are, the higher would be the customer engagement. To be ahead of the competition, one needs to be creative. This generally depends on the audience as well as the industry. For many firms, catchy captions, vivid photos, and trending hashtags can engage the audience. For others, long infographics and well-edited images work better.

Along with working on making your content creation, you also need to ensure that the content that you publish is authentic. Ensure that all the facts and figures that you quote are verified, and you do not post wrong figures about anything. Creativity and authenticity play an important role in enhancing the social media efforts of your brand.

Leverage Social Media for eCommerce

Social media platforms have today become the latest go-to retail channel for most of the brands, and this trend is expected to get stronger with time. Social media has over 3.7 billion active users across the globe. This offers a great opportunity for marketing your business and growing sales. This also gets strengthened with the help of pro-selling features such as Facebook Store or Instagram Shop. This makes social media a major retail channel, almost equivalent to offline stores and websites.

To sell successfully on social media, one must give importance to the best social channels for your business. It is also important to make the shopping experience for the customers more mobile-friendly and encourage user-generated content. Make sure that you avoid hard-selling. By following such tips, one can maximize social media opportunities and establish loyal customers for your business.

Maintain a Balance Between Selling and Engaging

Today, people value relatability and honesty more than ever. They are also more likely to advocate businesses or brands that value such principles. This is why it’s essential to mix up your content type and posts. They should be about the products and services, but should also think about other ways to get people to notice your brand and engage with it. For this, you need to understand your target audience and create content that would be relevant to them and interests them.

One can even post user-generated content, share content from other pages or websites, repost tagged videos or photos, create a different type of giveaways or promotions, or simply share positive inspirations or reminders. Whatever you might choose, it’s important to maintain a good balance to grow your connections and reach new audiences.

Key Takeaways

Social media channels give an excellent opportunity to a business to build relationships with its customers and help in turning them into loyal followers. However, it requires a lot of time, effort, and strategic planning. This is because everyone is making use of social media, and thus the competition is fierce. In the above article, we have discussed different goals that you can set for making social marketing progress. You can set one or all of them and see the positive changes it brings for you.

 

Author Bio: Emily Browne is a web content enthusiast currently working with a top agency providing SEO Services in Sydney. She has been working as a content writer for three years, and she likes to contribute articles about SEO regularly.

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