In the U.S, 81% of the public has social media profiles. According to an annual survey conducted by United Parcel Service Inc. 51% of American shoppers made purchases on the web. This trend is only going to increase, claims The Wall Street Journal.
With such a prolific increase in online shopping, there was an equally prolific boom in online marketing myths.
We’re busting some of the most commonly occurring myths surrounding social media marketing today.
Myth #1: More Followers Equals More Revenue
Reality– As of 2017, global internet usage has gone up to 135 minutes per day.
Your social media followers are not necessarily accessing your company’s website to browse through its contents. This means even though you have hundreds of followers on your page, the fact remains that sales revenue is not a direct reflection of that.
The bottom line doesn’t have a direct correlation with the number of followers or subscribers. The 80/20 rule applies here. 80% of your revenue is generated through 20% of active followers. You could be happy to have 1,000,000 followers—but do they all engage with your brand, share content and make actual purchases?
The answer is likely a resounding No.
Myth #2: The More the Merrier
Reality-Not all social media platforms are created equal.
This holds significant truth when it comes to generating revenue off of your social media pages. Remember that each platform serves a specific function.
In the case of B2B transactions, LinkedIn proves to be far more effective than Facebook. However, if you’re looking to boost click through rates, Facebook is the ideal platform. Snapchat is a millennial hub as 60% of users in the U.S are under 24. Instagram is the perfect brand building tool with roughly 500 million users on the app.
Finding out the right platform for your target demographic and the nature of your business will save you time and money. Not to mention the near-constant adjustments one needs to make to stay in the digital marketing game.
Myth #3: It’s Free!
Creating an elaborate social media marketing strategy for all channels costs more than a buck. Depending on a number of factors, an outsourced online marketing expert costs roughly $3000 a month.
If you choose to hire an in-house SEO professional, you are probably looking at a cost of around $50,000 per year.
Online marketing encompasses a multitude of things. Search Engine Optimization (SEO), web design, pay-per-click (PPC) and online PR is really just the tip of the iceberg. You need to ask yourself, with this amount of investment in digital marketing, are you really getting a desirable pay-off?
A leading social media marketing service provider in New Jersey, Bluesoft Design is equipped with all the resources and technical expertise needed by clients to steer their ranking, revenue and online visibility in the right direction.