Subscribing to Their Twitter Feeds
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The best smm panel industry was valued at just over $11.9 billion in 2021. That's according to the research firm Statista.
The number of professionals in the field swelled from 62,500 in 2020 to 64,600 by the end of 2021. That's according to the American Association of Advertising Agencies (4A's) Market Reach survey.
What is social media marketing (SMM)?
Put simply, social media marketing (SMM) is advertising and PR efforts through social platforms like YouTube, Twitter, and Facebook.
These platforms allow businesses, brands, and individuals to connect with millions of people around the world. And with more people connecting, engaging, and sharing content daily, your marketing message can reach more people than ever before.
Why should you consider social media marketing (SMM)?
The answer is pretty straightforward; if you think that your target audience is on social media, you should consider using social media to promote your company.
What's more, SMM doesn't require a massive budget to have a noticeable impact. With the right strategy, you can put in place a relatively low cost approach that will drive in-demand customers to your products or services.
The Value of Social Media in Marketing
The value of social media in marketing varies by business and industry, but on average, it's been found that brands who utilize social media can expect to see a 25% increase in website traffic, brand awareness, and engagement with existing customers.
How Much Does It Cost to Promote on Social Media?
The answer to this question will vary from business to business. But, as a general rule, it's usually cheaper to promote on social media than other marketing channels.
The average cost for a social media marketing campaign is around 2-3% of revenue for small businesses and startups, and around 4-6% for larger companies.
Which Social Media Channels Should You Be Using For Your Business?
The answer to this question will depend on your business goals and the type of content you wish to produce. But, generally speaking, you should be using Twitter, Instagram, and LinkedIn for your business. These are the platforms that most people use to consume content and connect with others. Therefore, if you want to engage with potential customers and establish yourself as an expert in your industry, these are the channels you should be using.
The Most Popular Social Media Channels for Marketing
Let's take a quick look at the most popular social media channels for marketing. As we've established, Twitter, Instagram, and LinkedIn are the most frequently used platforms by users. Here are the top five.
- YouTube
How to Build a Twitter Audience
The most effective way to promote your brand on Twitter is to simply build a following. There are various tools you can use to do this, but the most popular and simplest way is to simply follow the leads of influential industry experts.
By subscribing to their Twitter feeds, you will see their valuable tips and tricks from time to time, as well as their occasional tweets about their favorite brands or products. This is often a free service that many Twitter users and companies use to build and grow their audiences.
This isn't the only way to build a Twitter audience. You can also focus on creating content that is valuable for your audience and inspiring them to action. In many cases, this will mean creating content that is directly relevant to the person viewing it or using it. For example, if you're a fitness guru and you notice a celebrity using your favorite gym, you may decide to retweet them to your followers. This can encourage them to visit the gym as well.
Instagram for Marketing
Instagram is a bit like Twitter, in the sense that it is a free-form content sharing platform where users can share a wide variety of content.
However, one of the main differences is that Instagram allows for a greater degree of visual content than Twitter. As a result, many brands use Instagram to engage with their audiences through stunning images and videos.
By integrating your Instagram account with your website, social media managers can use the profile pic in your websites' header, on social media, and in emails.
This is especially valuable for smaller businesses and startups, as using your company logo on all your marketing material, including social media, can make it easy for potential customers to find you. And when they find you, they'll be able to see your logo prominently displayed, increasing the chances of them becoming a customer.
LinkedIn for Marketing
LinkedIn is the professional social network. As the fourth largest social network in the world, with over 500 million monthly active users, it's the perfect place to connect with other industry professionals. And because LinkedIn is mostly used by employers and new business contacts to find each other, it's also the perfect place to promote your business.
Unlike other social networks where your content is compartmentalized in discrete pages with little or no interaction, LinkedIn presents your content in the form of a feed, which is a continuous scrollable stream of content.
This makes it much more difficult to gain traction and attract new followers. To illustrate this, take a look at TikTok, the popular video-based social media platform. While it is difficult to get noticed on TikTok, it's extremely easy for a business to get started there and gain a following. On the other hand, LinkedIn is valued at around $26 billion and is used mainly by employees, so businesses have to work harder to get noticed.
Reddit for Marketing
Last but not least, we have Reddit. Like the others, Reddit is a free social media platform where users can post content and engage with each other.
However, Reddit is unique in that it is entirely user-based. As a result, while the most popular social media channels are controlled by companies, Reddit is completely open. This openness can, at times, be an advantage in terms of reaching a targeted audience. For example, if you're a fashion brand and you notice that a user is posting a lot about menswear, you can reach out to them on Reddit to get in touch and potentially partner on a project.
Although it's a free social media platform, Reddit has actually been valued at around $7.5 billion.
As you can see, the value of social media in marketing varies by business and industry. What's important to take away from this, however, is that regardless of whether you're a global business or a small local shop, you can put in place a strategy to incorporate social media into your marketing mix.
