Cutting Marketing Costs – The Power of Social Media

social-media for businessWith the economy lagging and many businesses looking for ways to cut costs, the marketing budget is often one of the first to be cut. Cutting costs is often necessary to ensure the survival of a business in tough times, but at the same time it’s important to market your goods and services – finding a balance between the cost and benefit of marketing is essential, and social media are excellent tools in achieving this.

The very real marketing power of social media

Since the launch of Facebook almost 10 years ago, social media have become a buzz word in the marketing industry. Today there are several social media platforms including twitter, LinkedIn, blogs, and many more, that will allow you to reach your target market without paying the high costs that are involved when you use traditional media like TV, print, and radio ads in your marketing strategy.

Does social media marketing really work?

Some entrepreneurs are still sceptical about social media marketing and of course, there is still a place for traditional advertising, promotions, and sales reps in every business. The power of social media is that it reaches specific people who choose to follow the posts, tweets, and updates on your social media platforms, compared with traditional advertising which is broadcast to whoever may be watching, listening or reading the ad at the time. Social media marketing is focused, and can be fine-tuned to target the exact audience you have in mind for your products and services.

Do most companies use social media marketing?

Today, every major company on earth has a social media element in its marketing campaign. The power of social media in marketing has been used successfully by huge corporations and one-person businesses to promote and market products and services, and most importantly, interact with customers who tweet or post Facebook comments – these comments are a direct form of communication between the business and its clients, and can be used to address challenges, give compliments, or request information on products.

How do I get started?

Social media marketing requires a slightly different strategy than traditional marketing, and it’s best to consult with a marketing company that specialises in social media before you get started. You will need to create a presence for your business online by having the following in place:

  • A well-designed company website
  • A Facebook page
  • A twitter account
  • LinkedIn profiles for all key team members

These are minimum requirements for any business wanting to use social media for marketing purposes. Your marketing consultant will fill you in on the specific details, but it’s important that your social media pages be well-designed and easy to use, with good quality content that will engage your audience.

With a solid social media presence, your business will reach more customers while costing you less than a traditional advertising campaign.

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