The $150 Billion Industry That You Don’t Want to Miss Out On

$150 Billion– that is how much spending power that is estimated from the users of social media marketing channels such as Instagram, Snapchat, Twitter, TikTok etc. And $150 Billion is what you could be missing out on if you don’t have a robust social media marketing plan.

Social media marketing is important in today’s world because it allows businesses to reach and engage with a large audience of potential and existing customers in a cost-effective and more targeted way. Some of the key reasons why social media marketing is important:

1. Increased brand awareness: Social media platforms are widely used by a diverse range of people, making it an ideal way for businesses to increase brand awareness and reach a large audience.
2. Cost-effective: Social media marketing is relatively inexpensive when compared to traditional marketing methods such as television and print advertising.
3. Targeted reach: Social media platforms allow businesses to target specific demographics, geographic locations, and interests. This increases the chances of reaching and providing services or products to the right audience.
4. Increased customer engagement: Social media platforms provide businesses with an opportunity to interact and engage with customers on a personal level. It also allows your brand to build a personality. This can increase customer loyalty and advocacy.
5. Improved customer insights: Social media platforms generate vast amounts of data that businesses can use to gain insights into their customer’s needs, wants, and behaviors.
6. Increased sales and revenue: An effective social media marketing campaign can help drive website traffic and increase exposure and will lead to more sales and revenue.
7. Stay competitive: Social media marketing is becoming a must-have for businesses of all shapes and sizes. Not having a presence on social media can make a company appear out of touch or behind the times. Not to mention, as we initially pointed out, could cost you a ton of money in missed sales.
   

In today’s world more and more consumers are relying on social media for information and decision making, not having a strong presence on social media can put a business at a disadvantage. Social media marketing allows a business to create a two-way conversation with their audience and offer customer service in real-time. This form of personalized engagement outmatches traditional marketing methods.