Given the age of virtual reality we live in, social media has become the most economical and easy forms of marketing available with a humongous target audience spread across nations. This is why your businesses must include a budget for marketing over selected social media platforms. Let’s look at why a business should invest in Social Media Marketing and which platform it can utilize the best at lower costs and gain high returns.
The three basic tips to choose an effective social media platform for a business can be narrowed down to:
What is your Type of Business? : Depending on your business type, B2B or B2C, you can choose the platform where you will get more of your target audience. A B2B model is selling from one business to another business entity. A B2C is where businesses or retailers are directly selling products to consumers like Amazon.com, Flipkart, Snapdeal, etc.
- Choose a platform where you can find a relevant audience for your product. For example, Linkedin serves better for B2B Business Marketing whereas Facebook and Instagram would serve as better platforms for B2C Models.
Who is your Target Audience? : In April, Facebook reported 2.4 billion monthly active users which is out of 7.7 billion total world population. Platforms like Facebook serve huge in marketing and advertising products for both B2B & B2C Businesses because it has the largest audience available as compared to any other platform. Your target audience has to be specific in terms of age, gender, location, economic standard, your consumer’s hobbies, likes, etc. before you select the right social media platform for your business.
- Choose a platform that targets your required audience and stick to it. For example: If you sell Cosmetics and want to specifically target the younger generation, you can choose Instagram and Snapchat.
What is your Budget? : Depending on your marketing budget you can choose to invest in marketing through social media. As of now, Facebook offers the cheapest advertising services. Both B2B & B2C businesses can find their target audience based on their Job Titles, Spending Habits, Demographics, Educational Information, Industry & of course Age group.
- To utilize your marketing budget effectively, choose a platform that matches the culture of your business. For example: If you want to sell Artwork, use Instagram because it uses pictures as its main medium of sharing posts. It will help minimize your costs and create a specific target audience. Creating attractive content on a regular basis will help market the products better. Therefore, the basic tips for choosing Social Media platforms depend on the business model you have, your target audience and your budget.