Social media has only expanded the realm of what it can do, today they have transitioned into business growth tools, not just networking sites. Companies are growing their advertising efforts as they gain confidence in social media, creating robust communities and spurring e-commerce. In this blog, we will delve into the latest trends regarding social media for business and how you can ride the waves of this constantly changing world with the help of Crescendo Worldwide.
In recent years, social media has emerged as one of the essential digital components for marketers because it opens new ways for general businesses to communicate directly with the people they are targeting. Global social media users count over 4.9 billion, providing a powerful avenue for brands to engage with and relate to customers while promoting products. Together, the mix of ads, community, and commerce on these platforms is shaking up companies.
Social media platforms are always optimizing their ad tools, to serve businesses buyers based on their demographics, interests and behavior. Targeted ads on platforms such as Facebook and Instagram boast an upto 25%, higher ROI as per recent report by businesses. By using advanced algorithms and data analytics, brands can experience a personalized ad experience according to their audience.
Geared towards building communities around the products or even the services brands offer. Online communities build customer loyalty and brand advocacy. For example, Glossier Brands, have built communities that drive user engagement with user-generated content, feedback, and chit-chats. Businesses that engage in these communities experience a substantial boon in consumer loyalty and happiness.
Social commerce is becoming the trend, which allows consumers to buy from social media sites directly. As per Statista, the sales from social commerce are going to reach the $1.2 trillion mark before 2025! With tools like Instagram Shopping to the Facebook Marketplace, features that facilitate transactions are in place, which brings the consumers closer to brands and makes discovering and buying consumer goods easier than ever before. As younger consumers, particularly Gen Z and Millennials, continue to gravitate towards social media as a shopping channel, this trend is especially pertinent.
Out of all of this, video content is starting to be the most engaging type of content on social media, whether it be TikTok or Instagram Reels. By incorporating video marketing into your strategy, you can boost your engagement rates by more than 700%. According to a recent study, videos get 1,200% more shares than text and images combined. Brands who create quality video content can put the most out of it by getting noticed by their audience and persuading them to convert.
Influencer partnership is still an effective move for a brand that wants a wider audience. Influencers provide an avenue for businesses to enter niche markets and can help build organic rapport with potential consumers. The effectiveness of influencer marketing is visible from the industry growth, which is expected to reach $16.4 billion by 2022.
Having a strong social media presence can boost brand recognition and visibility, and attract new audiences and markets.
And by cultivating communities and engaging with customers, brands can create deeper relationships that result in greater loyalty and advocacy.
E-commerce functionalities on social media channels and platforms makes it easier for followers to make a purchase and thus increases sales and conversion rates.
Define specific objectives for your social media strategy, such as enhancing brand awareness, generating traffic, or driving sales. To plan your strategy, combine targeted ads => target community => target e-commerce
Go for Gold Content You should go all out on your content that matches your audience. Utilize a variety of formats like videos, images, or interactive posts to diversify your content and engage broader audiences.
Track performance and measure the success of your campaigns using social media analytics tools To read data to help adjust your strategies in order to better ROI
Get people talking and engaging in your community. Engage your Audience: Reply to comments, request for feedback, and create polls.
Find out key influencers who are relevant to your industry and look for collaboration options You can amplify your message with influencers and reach a wider group of people.
So are you ready to utilize the power of social media for your business? Reach out to Crescendo Worldwide today and talk to us about how our consulting services can enable you to implement cost effective ad community & social commerce strategies for you.