Why Social Media Marketing is More Affordable than Traditional Marketing Methods
It is a common fact in the business world that you need to spend money to make money. But that doesn’t mean that you should spend too much either. Running a business is always expensive and you need to consider costs for rent, mortgage, inventory, supplies, employee wages, insurance, transportation, tax and others. Marketing is also a costly, and important, component of your business operation and social media can help to lower your marketing costs and, in some cases, boost sales better than traditional marketing methods.
There has been a decreased demand for radio and print-based content, and this affects the effectiveness of both advertising of these platforms making the costs to advertise on these platforms significantly higher. On the other hand, small businesses could spend much less using social media advertising and get the same, or better, results.
Digital Word of Mouth
Social media is equal to a digital version of word of mouth. People tend to trust other buyers more and social media is a great way to encourage customers to provide referrals. Unlike traditional advertising, what you post on the web will stay forever. People can see it again and again, especially when they are looking for specific information.
With social media, you can easily repeat the same piece of information over and over again without spending anything. On the other hand, repetition can be very expensive with traditional marketing methods. Also, something that you posted a month ago can be viewed by someone who is interested in your product today. Social media is an amazing online resource and you can harness it in any way to distribute your company’s message. And it makes it easy to reach a virtually unlimited number of potential clients, regardless of their locations.
Social media platforms are basically free to use and access which enables hundreds of millions users to stay active each day. Facebook alone is used by nearly a billion users worldwide and it has a very diverse social landscape. It’s very likely that you can find a group of people who have the same interests as you and that live in the same city or region as you.
YouTube is another major social media service where you can share your advertising video content and interact with viewers constantly. Even with a limited budget, you can create multiple YouTube videos that can potentially get many thousands of views. It’s much cheaper than using national TV stations as your advertising platform and it is much more accessible for the small business owner.
Regardless of the platform you choose for your marketing needs, social media promises permanent access, worldwide reach and low overall costs.
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