Social media remains the youngest of the digital marketing ventures out there, which is likely why so many platforms are still working to gain their footing in the advertising realm. It is worth pointing out that the biggest social media websites in the world, including Facebook, Twitter and LinkedIn, have made strides when it comes to enabling more efficient and effective marketing capabilities for businesses of all sizes, but the world has a ways to go until these options are up to standard with other digital advertising segments.
Additionally, to be clear, we are not arguing that businesses have an option when it comes to participating on social media, as this is a requirement of branding today. Between the customer services aspects and the ability to maintain communication with prospects and current clientele, not to mention simply having the brand name out there for social media users to find, companies simply must have at least some social media presence.
What we are discussing is the concept of using these tools specifically for front-end marketing ventures, such as trying to gain more visibility and convert prospects into loyal customers. That has been a tricky topic for a little while now, as some of the initial strategies enacted by social media websites have not had the immediate positive impacts many advertisers had hoped for, and the channels still return a relatively low rate on investment.
At the same time, markets and industries are increasingly becoming more competitive and saturated, especially as the economy continues to improve. This means that firms really need to expend every resource to gain an edge in the marketing realm, and social media marketing is worth the investment and time, so long as the advertisers get it right.
Benzinga recently reported that many firms appear to be growing despondent when it comes to social media advertising, and that almost every aspect of their responsibilities has not been met with the right solutions. This is yet another symptom of the novelty of social media and, more specifically, the young and uncharted territory the websites find themselves in when trying to enable seamless and effective social media pursuits.
According to the news provider, one study from Econsultancy showed that 80 percent of marketers in January ranked their experiences with social media marketing measurement as being lackluster. Additionally, gaining followers and building a real base of connection was found to be highly difficult, if not impossible, for a wealth of marketers toward the end of last year, making it even more disheartening in the eyes of businesses.
The source noted that tools that are able to help accurately measure all of the most important aspects of advertising are still not readily available, with the few existing options not completely getting the job done. This is sure to get better as time goes on, but advertisers need an immediate fix to ensure they are not losing control of the strategies entirely. At the same time, Benzinga did point out Facebook surpassed 1 billion users recently, showing just how advantageous marketing through the platform can seem in the eyes of advertisers.
Forbes listed a few common issues that many businesses face when trying to market through social media platforms, affirming that a lack of precedence is one of the major setbacks that make it difficult to understand how to excel. This is another symptom of social media marketing’s youth, in that there are so few examples out there to base strategies, upon, and businesses must often start from scratch.
Despite all of the guidance to the contrary, the news provider argued that companies still don’t understand that the websites chosen should be selected following plenty of research. Partaking in other websites that might have little to no potential with respect to connecting with target prospects is a waste of time and money, and could eventually work against the brand.
According to the source, a fundamental issue seen across markets is the complete lack of an adequate plan and strategy to govern activity on social media websites, especially for advertising ventures. Businesses are basically flying blind, which is never a safe or profitable campaign for a business, and a strategy should certainly be established before the first post is made.
Social media marketing is still worth it
In spite of all these challenges that might make it seem like social media is not worth the time, it most certainly is. Starting now and transforming alongside the evolution of social media, advertising can, and likely will be in the driver’s seat down the road when these websites start to perfect own capabilities.