Is Social Media Marketing Worth the Cost?

09/27/2017

Is Social Media Marketing Worth the Cost?

The world of social media and digital marketing can be intimidating. It’s a large-scale effort, using an unlimited medium to promote your business. Many companies reach out to digital marketing specialists, hiring them to manage their online profiles. But is it worth the investment? Here are a few of the costs and benefits to weigh before making your decision.
 

You’re spending less money on marketing

While there are some upfront costs to have a marketing company managing your social media content, the social media marketing itself has little to no cost. At this point in time, posting on social media sites is free of charge. You can choose to advertise with sponsored posts and other ad placement, but the social media engagement and interaction for your business doesn’t come with an additional cost.
 

Better search engine rankings

With an engaged online presence, your company’s website is more likely to come up at the top of a Google search. Search Engine Optimization specialists work to increase your website’s ranking in search engine results, since having an active social media presence makes Google more likely to consider your website credible, sending you to the top of their list.
 

Customer engagement

The Internet has made connecting with your customers easier than ever. Business.gov.au states that customers don’t have to walk in the door of your business for you to reach them. They can find you on the Internet and reach out at their convenience without ever leaving their homes. Customers enjoy fast, quick and easy service, and social media connections help provide them with just that.
 

A lot of work

Maintaining a social media profile is a lot of work. If you only give it 50 percent of your effort, you’re likely to hurt your reputation rather than help it. In order to make the most of a social media presence, your business should have a clear marketing strategy in place and it needs to be actively monitored.
 

There are risks

With an online presence, there are several risks involved. First, customers (including unhappy ones) can express their concerns on your social media profiles. If you have an exceptionally unhappy customer, they can vent their frustrations right there on your page for the world to see. Those posts need to be monitored on your end, suggests Business.gov.au, which can require hiring a set of additional hands. Also, technology poses the risk for hacking. If your profile is hacked, your reputation can be damaged with inappropriate posts, leaked information or other problems.
 
Weighing the pros and cons of social media marketing is an important part of your business. Once you’ve decided, you can fully commit to either option. If you’re still unsure, consulting with specialists and learning more about the process may help you make an informed, concrete decision.
 
Published by North Shore Bank. Includes copyrighted material of IMakeNews, Inc. and its suppliers.

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