Social Media Watch

5 Social Media Marketing Trends to Keep an Eye On

Keeping up with social media marketing can be an overwhelming task. Social media is constantly evolving. To stay informed on the cycle of changes is a challenge. New research has surfaced that can help businesses understand why it is necessary to continue to develop a social media presence, and to continue to evolve with new social media. According to strategic marketing consultant, Phil Mershon, there are 5 social media marketing trends that all point to why it is important.  

1: The benefits derived from Social Media are increasing.

A survey of 700 marketers produced by Wildfire App found that nearly all of the surveyed marketers found social media to be important and valuable. The same survey also found that 75% of these marketers plan to increase their media spending in 2012. That’s right- in the midst of budget cuts and reduced spending; marketers are encouraging businesses to increase their social media budget.

Here’s why…

Increasing brand awareness and engaging customers in dialogue are the two most significant benefits of social media. These two benefits of social media were the top benefits described by the surveyed marketers. It’s important to keep this in mind as a business reviews the significance of a social media presence. It is also significant to note that social media is not the most advantageous avenue for making sales. This is because people aren’t shopping when they’re on Facebook or Twitter. They aren’t looking for sales or researching products on LinkedIn. The social media benefits business by allowing them to better control the flow of communication from the business to its customers.

These days, people can pick and choose which social media they prefer. The three biggest social media are Facebook, Twitter, and LinkedIn. A business concerned with a social media presence should have a profile on each of these. To reach everyone, it is important to understand that they are on any number of these media channels. Once you’ve established your profile, routinely update your profile with information that will encourage your followers to think positively about your brand. Use Social Media to update the public about significant news related to your business, whether it be the launch of a new product, or an award your company has received. Try to perk their interest in order to encourage them to learn more about your business. Tell them why they should consider you!

2: More businesses are investing in social media.  

Borrell Associates found that small to medium sized businesses (SMB) will most likely DOUBLE their Social Media budget this year. In the U.S., that’s $2 Billion. Customers are online, so businesses know it’s important to reach them there. 

3: Measuring ROI is one of the top challenges faced by marketers

Managing the social media budget can be difficult because the ROI is difficult to track. 

This is important because…

The fact is - Social Media is an avenue of communication that is best used for spreading brand awareness and a two-way communication form between the company and its customers. Accurately accounting for the ROI is monetarily limited. It does not provide a business with the insight of how beneficial social media exactly is. It is hard for a business to understand the monetary value of social media simply by considering the ROI. Communicating with customers on the channel of their choice is important regardless of the ROI. According to Awareness,

4. Marketing agencies view the value of social media marketing differently.

Below is a graph that shows the results of a survey done by Marketing Sherpa.  It represents what marketers consider to be important, and how effective it can be. 

5. An integrated social media plan leads to greater financial results.

Insites Consulting conducted research with over 400 senior-level marketing managers in both the U.S. and U.K.  The most valuable observation of this research is that firms that have chosen to integrate social media into their regular business operations have already seen significantly greater financial results than those who have not. This key observation of social media should be noted.

In conclusion…

So as a business reviews the value of social media, it should keep in mind these five trends.

• ·        The benefits derived from Social Media are increasing
• ·        More businesses are investing in social media
• ·        Measuring ROI is one of the top challenges faced by marketers
• ·        Marketing agencies view the value of social media marketing differently
• ·        An integrated social media plan leads to greater financial results