Social media advertising remains a mystery to many of us. Most of us have seen the statistics relating to the size and use of the larger social networks. We know that Facebook alone boasts over 1.71 billion active monthly users. Many of us have also attended seminars or conferences where we were told that in order to succeed in today’s business we must use “social media marketing,” and many of us have even attempted to do some form of advertising with little to no success. This raises the question: Does social media advertising actually work?
The short answer to this question is yes.
Below is what you need to know:
- The Usage
According to research done by SocialMediaToday.com, social media use is at an all-time high, with 22 percent of the world’s population being on Facebook and 81 percent of millennials checking Twitter at least once per day, and YouTube reaching more 18- to 49-year-olds than any cable network in the U.S. Needless to say, social networks have people’s attention. With that being said, times are changing and people’s time is being spread out across more networks than ever, with more than 56 percent of online adults using more than one platform, Snapchat reaching 41 percent of 18- to 34-year-olds and over 51 percent of Instagram users accessing the platform daily. Facebook remains king, however, with 79 percent of American internet users on the platform.
With the spread of usage, it is easy to get lost trying to reach everyone, everywhere.
- A Tremendous Amount of Money Is Spent on Social Media Marketing
According to Business Insider, social media advertising will grow to an estimated $14 billion in 2018. This is important for a couple of reasons. First of all, that much money being invested suggests that this isn’t a passing fad and that it is, instead, at the very least, a trend, and, secondly, that you are not alone in trying to promote your product or service on your favorite social network.
- Brand Loyalty Is Much Higher Through Social Media
A large part of advertising is to gain marketshare through brand loyalty. Studies have shown us, that living in North America, on average, we will see 5,000 different brands a day. Pretty impressive, isn’t it? Now, off the top of your head, how many do you remember seeing?
Social media is a great way to build brand loyalty with your clients or potential clients as it allows you directly interact with this group on a regular basis, keeping yourself top of mind.
- The Results
What does all of this mean if the sales aren’t there? Ultimately, nothing, which is why our next set of data involves specific sales results. According to Forbes, 74 percent of salespeople who beat their quota by 10 percent or more say they have an excellent understanding of social media for prospecting, nurturing relationships and closing deals. Seventy-four percent!
With this information, take a look at your goals and sales forecasts for this year. Now add 10 percent on top of that. Finally, ask yourself: Is it worth taking the time to learn and understand social media advertising?
Michael Darmanin is COO of Sellstate Realty Systems Network, Inc.
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