Digital marketing trends have been going through a constant change every single year, just like any other technological advancement. With these constant changes the urgency to adapt to new online marketing trends has become necessary for all of us.
What is Social Media Marketing?
A mechanism that is growing on a massive scale, social media marketing (SMM) means utilizing the social media platforms on which the social media users build networks, and relationships, and share important information to build the brand for its business. Also, they want to increase sales, drive website traffic, along with providing a way for companies to engage with existing customers and reach new ones.
For the growth and success of businesses, it is of absolute importance to leverage the power of social media marketing in 2024. Without leveraging social media marketing platforms it is quite difficult for businesses not only to survive but chances are high that their businesses might fail for the following reasons;
To avoid the aforementioned failures businesses must have a strong presence on social media. Having a strong presence on social media not only will help businesses avoid aforementioned failures but will also prove to be significant for them and will bring them the following benefits;
Building a loyal community: Social media is not only a platform for exposing your brand but it is also considered as a place to foster a sense of community. Businesses can connect with their audience on a personal level, by responding to comments, answering questions, and sharing user-generated content. Through this interaction, businesses can build trust and loyalty among customers turning them into spokespersons of their brand.
The Impact of Social Media On Business
With so many benefits social media has brought us in our lives, the rise in social media use spearheaded by the massive expansion of user outreach has only increased over the last couple of years. In 2023 social media usage has increased with an estimated 4.9 billion users all across the world. It is also estimated that this figure will almost double to 5.85 billion by 2027.
The number of social media users around the world
The aforementioned data shows the most popular social networks worldwide with their number of users in millions, as of 2023. Market leader Facebook was the first social network to reach three billion active users monthly. Leading social media networks are available in multiple languages all across the world connecting friends and colleagues across geographical boundaries. In the year 2022, users of social media have increased to 3.96 billion, and the growth is expected to surge as mobile device usage and mobile social networks are set to increase in the underserved markets.
Businesses Thriving With Social Media Use
As the number of social media users is set to rise from 3.96 billion users and beyond due to massive expansion of mobile networks all across the world, businesses whether large or small have already gained significantly due to usage of social media. These can be demonstrated by the massive expansion of platforms like Airbnb, which has effectively used user-generated content to produce captivating posts and campaigns on social media.
Airbnb has built an exciting community of visitors and hosts through Instagram marketing by encouraging travelers to share their travel experiences and tag their company in their posts. Through this, the company has been successful in pleasing its customers, and at the same time, its customers have developed credibility and confidence encouraging others to use their brand.
Just like Airbnb, a great example of an impactful social media marketing campaign is the “Dream Crazy” campaign by Nike which involved NFL star Colin Kaepernick. Through this social media campaign, Nike provoked debates on social media by taking its stand on quite a controversial topic. Though the ad received a mixture of positive and negative reviews from Nike customers, it did increase the brand mentions, online purchases, and interactions of Nike quite significantly.
The success of these two marketing campaigns involving the right social media marketing strategy truly portrays the significance of a social media marketing agency. Implementing these kinds of marketing strategies which involve creating an impact on customer sentiment can only be implemented if the right social media marketing agency in Bangladesh is chosen by companies.
Key Benefits of Social Media Marketing:
The importance of conducting a social media marketing strategy with the help of a marketing agency in Bangladesh will not only help the business create a campaign that stimulates customer sentiments, but it will also bring significant benefits for the business in the long run which has been highlighted below;
These are the significant benefits if businesses in Bangladesh implement their social media marketing strategies with a competent, well-known, reputed social media marketing agency with a proven track record.
What are the unique features of social media platforms?
To ensure maximum gain from the benefits discussed previously, every business needs to know about unique features and the overview of all the social media platforms. Let’s look into the unique features and overview of different social media platforms;
It is estimated that the tech giant generated a total of 114.45 billion dollars in 2022. Several industries such as e-commerce, retail, media, telecom, and technology, all are trying to leverage the power of Face Book to maximize their ROI. To drive conversions the best bet is to invest in Facebook ads. Also by joining niche communities with Face Book groups using messenger chatbots for personal communication real-time audience interaction can be encouraged.
Such engagement metrics are quite harder for marketers to ignore when they are thinking of remarketing. From long-form video storytelling to the introduction of video reels YouTube provides opportunities for brands to engage in storytelling visually and reach new audiences.
It is also known as one of the most powerful marketing tools. According to search engine journals, YouTube viewers are likely to buy something 2 times more, and 4 times more they are likely to use the platform to find information about a brand.
Over the years the platform has included new features that marketers can leverage to grow reels, videos, short stories, etc. Not only B2B businesses can connect with a large number of audiences, but followers can easily transition from product research to product purchase by linking information and linking sales for which Instagram marketing has become quite important. And if a business has a target audience whose demographic is under 35, Instagram can be considered nothing less than a goldmine.
This shows the fluctuations in the data and numbers around X's traffic and its users. Different sources show X traffic being down year on year. Incidents over the last couple of years show that Twitter remains a space to watch. If someone’s running a business related to entertainment, sports, politics, marketing, or technology chances are quite high for driving great engagement on X, if one can find an audience here.
Most of the Pinterest users, approximately 60% of them are women. It can also be considered an ideal platform if one has a business whose core customers are women. Pinterest has also established itself to be a powerful marketing tool where 89% of weekly Pinners use this platform as an inspiration for purchasing products and 80% have discovered a new brand or a product on Pinterest.
LinkedIn possesses around 180 million users who hold senior roles in their companies, 63 million decision-makers, and 10 million C-suite executives making it a hotspot for those who aim to connect prospects who can hire your company, stock your product, and if required partner with your brand.
LinkedIn is also known as a focused platform and that’s why it has an unlimited potential for connecting with an elite group of potentials who can make a real difference to your business.
The platform has maintained its commitment to providing real-time content and offers users privacy that many other social platforms do not provide. That’s why it is quite an authentic tool for brands that have the desire to speak to a younger audience who might be less interested in other social media networks.
Snapchat may not get attention like Instagram and TikTok, but it has generated 5 million paying subscribers who are willing to spend money to have access to outstanding features.
The rise of TikTok as a global phenomenon has been quite phenomenal and in 2017, after one year the app became the fastest-growing app in the world. The main focus of TikTok is short-form videos driven by audio and visual trends which have taken the world by storm which other social media platforms want to emulate it. Though TikTok was banned in India and the USA till 2021, the app was downloaded more than 3.5 times all across the world.
Customizing Your Social Media Strategy
For conducting a successful digital marketing strategy in collaboration with an ideal digital marketing agency in Bangladesh using the aforementioned platforms, companies must know how to customize or develop the right social media strategy for their business. To do that they need to follow the following steps;
For example, it can be seen that great engagement for Instagram reels but not for stories. We can also find that certain topics get shared more by your followers than others. It is also important to understand how our content has been performing and it is essential to creating your social media strategy.
Competitor analysis can be done by identifying products or services online that are yours, reviewing the social media accounts, searching for additional information from Google Trends, and knowing about your customers using both online and offline processes.
This will help the business set up and improve its social media marketing goals and business objectives which is important for the business to grab hold of the right customers. Businesses should look for specific indicators that will identify how their brands are getting noticed and the type of actions the followers will be taking. Aside from understanding the reach and engagement of the posts, businesses must examine the conversion and click-through rates especially when they are using social media ads.
Getting to know your customers will help any business grab hold of your audience demographics and find out important information like audience insight tools, finding out where your audience is active, surveying your customers, or identifying or creating your buyer personas. Businesses can start by creating an ideal customer persona and describing everything about them. Once a business understands its customer's tastes and preferences it can design its social media goals and produce goods and services according to their customer needs and preferences.
Social Media Analytics & Measurement:
Previously the features of different social media platforms have been mentioned which businesses can use to maximize revenue and ensure a sustainable ROI. For ensuring a sustainable ROI businesses need to keep track of their customers. And to do that every business must understand different types of social media analytics and its measurements.
Social Media metrics and data analysis of customers visiting the social media site of every business is important because social media analytics provides valuable insights into the audience behavior, content performance, and overall effectiveness of the efforts given by the company.
As a result, businesses must know different social media analytics tools that are used to track and analyze the social media performance of businesses. Details about those tools the businesses must know before they use for metrics analysis have been mentioned below;
By measuring and understanding Snapchat's performance, a business can tweak and optimize its strategy on Snapchat to achieve greater results. With the Snapchat analytics tool, a business will be able to determine its ROI quite quickly.
The platform also includes demographic information about the audience of the businesses' YouTube videos, so that the businesses can understand who their subscribers are, and produce content that directly speaks about the customer's wants and needs.
The platform has its reporting dashboard which can be accessed with a business's Twitter account. Using the business's Twitter account, the reporting dashboard can be accessed through desktop and per-tweet analytics data on your mobile device.
To build an effective Instagram strategy tracking your Instagram Analytics is the best possible way for the business. Without tracking data, it will be impossible to know what kind of strategy will work on Instagram for the business to expand the reach of its products or services through Instagram.
Whether a business is just opening its Pinterest account or already a professional maintaining it, Pinterest analytics will help the business make sense of its data.
The platform includes video metrics, such as views, likes, comments, shares, and important information about the profile of the business and its followers. Along with the creativity of the business, leveraging analytics is also important for creating an ideal TikTok marketing strategy.
Along with the analytics tools, all businesses need to have access to different social media management tools. This is because social media management tools will help the business take control of its full social media presence on a single app.
It will help the business automate, analyze, and manage social media accounts so that the business can focus on creating the types of content that their customers desire. Details about the social media management apps have been discussed and the best ones can be chosen by the businesses after testing and verification;
Using the analytics above and social media management tools, businesses can build the best social media strategy for them and at the same time take control of the social media presence. As a result, the business will be able to not only automate, analyze, and manage its social media accounts but also will be able to continuously update its social media strategy according to the desires and demands of its clients.
How Fortune 500 companies are using Social Media?
Previously, it has been mentioned how Nike and Airbnb have used social media platforms to strengthen their position online by running successful campaigns. Now it’s time for us to know how Fortune 500 companies are leveraging the power of different social media platforms to spearhead their business growth. Interestingly, if all the Fortune 500 companies formed a country together it would be the second largest country in the world in terms of sales earned by each brand.
In terms of their presence on social media, almost 61% of CEOs think of social media as a distraction. But the numbers and the statistics tell a different story. The social media platforms used mostly by Fortune 500 companies and their details have been mentioned below;
LinkedIn has different features that Fortune 500 companies can leverage to market their brand to their audience. It also provides a great opportunity to provide their target audience with content of high quality. Companies like Walmart are using LinkedIn to inform people about their company culture, news, and updates. Many other brands are also using LinkedIn to present their blog to their audiences while others are showcasing their company's thought leadership on their platform.
LinkedIn page of Walmart
For example, the Fortune 500 brand Ford Motors leveraged Facebook to run a campaign that attracted the audience’s attention. Facebook can be quite a competitive platform to market your brand and if a business wants to get maximum reach for its brand they need to know the Facebook algorithm well. The idea is to alter your Facebook marketing strategy according to the algorithm so that an effective online presence can be built.
For example; Coca-Cola looks to hold a poll by asking its audience how they prefer to be encouraged by Coca-Cola on the National Encouragement Day. Keeping the audience satisfied by keeping their expectations into consideration is how Coca-Cola is winning on social media.
Twitter Page of Coca Cola
Amazon managed to highlight the features, USP, and other important features of their new product. Through YouTube ads, the brand was able to touch the audience's pain points and appeal to them in the process. Building a smart YouTube marketing strategy is essential for the business to get maximum ROI for the video marketing efforts of the business.
By using a user-generated content-based campaign, Apple was able to manipulate users to engage with them actively with the brand. Apart from Social Media Sites, Fortune 500 companies are growing through blogs. For grabbing the audience's attention, integration of the blogs and social media equally works for them.
Key Takeaways:
From the information above which highlights the significance of Apple, and Amazon using Social Media Platforms, several key points can be considered as takeaways, which are;
How Softopark IT Can Help Your Business Thrive On Social Media Marketing?
Softopark IT LTD, is one of the leading software development companies in Bangladesh, operating in the country since 2015. The company is passionate about giving customers the best possible experience and it has established itself as one of the reputed and trusted social media marketing agencies in Bangladesh.
The company will help to build a customized social media strategy for its clients by running social media audits, performing competitor analysis, and also by setting social media goals. At the same time using its customized social media strategy, Softopark will help businesses to;
Also by using Google Analytics, Softopark IT Ltd will help to track customers for the business and will help to segment them in terms of demographics, age, gender, and race which is important for retargeting the customers. Some of its notable clients are Bata, bluecheez, and Department of Narcotics Control etc.
With important insights gained from the analytics, Softopark IT LTD will help any business in Bangladesh and all across the world create value-driven result-oriented solutions for its customers and build a win-win situation for not only itself but also for its valued clients.
Finally, the value created by an effective social media marketing strategy cannot be emphasized completely. The aforementioned benefits such as an increase in brand awareness, cost-effectively marketing the products, and improved search engine rankings have a significant effect which is quite hard to summarize in a blog like this.
This is because the benefits tend to have a lasting impact for years to come and not for a shorter period. Most importantly the outcome can be tracked, analyzed, and used to refine and modify social media marketing strategy.
Therefore, the usage of social media marketing strategy and services offered for business growth is of absolute importance irrespective of business size and growth. An effective social media marketing strategy developed by Softopark IT LTD using a variety of content services and creating engaging content will increase business revenue twofold or more.
At the same time, Softopark IT LTD has a proven track record of success in providing SEO services provided by the best SEO experts in Bangladesh. By using their SEO services businesses can help themselves not only to rank high on Google but also ensure a strong digital presence in the market, giving them an edge over their competitors.
A new world of possibilities has been created by Softopark IT LTD, one of the leading marketing agencies in Bangladesh which can create a positive impact not only on businesses but also on the local economy by driving economic growth using digital transformation. At the same time by providing SEO services to its business Softopark IT LTD can help its clients create job opportunities and help in its business expansion. So if you want an effective social media marketing strategy for your business with a higher Google ranking contact Softopark IT LTD -+880161657796 or log on to https://www.softopark.com/.