The Short Answer about Social Media
The quick answer to this question is yes, social media is still a valid marketing channel. In 2021, social media marketing (SMM) is becoming more important, as this is where many of your potential customers spend their time online.
The Longer Answer about SMM
The longer answer your success with social media marketing depends on your strategy, your industry, your target market, your platforms, etc. According to HubSpot, 420 billion people are active on social media. This is a huge portion of the population. This opens up a lot of doors for you regarding marketing- especially with paid ads where you can target specific users within that 420 billion.
In addition, 54 percent of people who browser through social media use it to research products. So, if more than half of the people on social platforms (approximately 210 billion) are using the platforms to research products, wouldn’t you want your products to be available? The opportunity to get in front of that large of an audience isn’t something to scoff at. In fact, social media marketing should be a core element of your marketing strategy if the other factors of your business allow for it. For example, as a restaurant you may have unlimited potential for Instagram or other image based platforms.
Finally, according to Global Web Index, 24 percent of people have clicked on a sponsored or promoted post on social media. So, a quarter of the total social media using population clicks on sponsored posts. That’s approximately 105 billion people willing to click on your ad to learn more about your product or service.
To conclude, you’ll want to evaluate your business, your goals, your industry, and your competition before deciding if social media is a valid channel for marketing. However, for most businesses, social media is a vital element of a solid marketing plan.
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