Recent studies of consumers show an increase in the amount of time spent engaged with social networks and a decrease in time spent with email and traditional websites.
Perhaps more importantly, the population of social network site (SNS) users has gotten older. Over half of all adult SNS users are now over the age of 35 – a highly coveted demographic. (The mature market now has over $1.6 trillion in spending power and a net worth that's nearly twice the U.S. average.)
The result: brands are turning more and more to social media marketing to connect and build relationships with their customers.
Social media platforms offer digital marketing programs that enable brands to reach beyond their existing communities, aimed at growth. Twitter’s Promoted Products suite, Facebook’s contextual, friend-based banners and “Sponsored Stories” program, and YouTube’s Promoted Videos are some of the social marketing options.
The Trends in Social Advertising survey, recently conducted by the research team at Pivot, found that a full 60% of respondents expected social advertising to be very valuable to them. Marketers recognize the importance of Social Media Marketing and are putting their money where their mouths are. Advisory services company Hootsuite has predicted that ad revenues for social media sites are set to grow 10.5% annually from 2018's $51.3 billion USD.
Social media platforms have responded to this explosion in the number of users by offering new digital advertising programs that enable brands to reach beyond their existing communities. Twitter’s Promoted Products suite, Facebook’s contextual, friend-based banners and “Sponsored Stories” program, and YouTube’s Promoted Videos are some of the new social advertising options.
Each platform has its own unique culture requiring a customized approach, so deciding which channels to employ can be a challenge. Corporate blogging and Tweeting are currently the most popular social media marketing tools, according to Trends in Social Advertising. Viral Videos and paid placements are also gaining in popularity.
Given the limitless opportunities for exposure and the speed and ease with which news spreads among and beyond users of individual social networking sites, Social Media Marketing is a new force to be reckoned with. Companies that develop strategic social media marketing plans to engage their customers are sure to see a profound benefit to their bottom line.
Have you implemented social media marketing campaign yet? Which channel did you start with? Tell us about it below.