Well, my answer to this question has changed slightly across the years. If you asked me this 5 years ago, I would have said that it is Important to be visible and present on the likes of Facebook, Twitter, LinkedIn etc however it might not necessarily be the right channel for what your business requires currently. Now, I would say that this is one of the first channels to concentrate your marketing budget on.
There are a number of reasons why Social Media advertising is detrimental to the development and success to any business in today’s market;
1. Loyalty – Consumers work on trust. They will buy or secure a service from a brand that has trust other one that does not, regardless of price. Social media is one of the most proven ways to build and sustain your brand.
2. Authority – Having a trust brand on social media allows you to stamp your business authority and trust to your consumer.
3. Growing database – Using social media for advertising is one of the most relevant ways to target your complete audience spectrum within one advertising platform. For example, 74.75% of all adults in the UK have an active Facebook account.
4. Pier Influence – Pier influence is a proven way of helping drive your brand and increase sales/revenue. Social Media is now the strongest platform for pier influence.
5. Cost – Even though social media has grown year on year for the past 10 years, it is still one of the cheapest forms of online advertising.
Advertising on the likes of Facebook & Twitter was a luxury when social media first started to take hold of the average person’s day to day life. Not it is very much a necessity. For example, Q1 in 2017, Social media spend increased by 60%, which is a massive increase when considering that 60% of all online spend is now accounted within Google & Facebook.
Also, using social media for your business boosts your website’s SEO. Driving cheap traffic to your optimized pages will help the website crawls increase your presence and rankings for those websites.