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Business Model Growth Hack Through Social Media in 2020

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Who would have thought that the virtual world we stepped into merely for amusement, one day will barge into our society, inculcated in almost every aspect of our life? Today, social media is a platform where brands and influencers have direct interaction with their potential customers, the kind of communication that no one could have imagined before. Social media is changing the world.

The rise of this invincible giant has transformed our business landscapes and endeavors. Most businesses have revamped their models and enhanced their marketing tactics to exploit the power of social networking.

Marketing has always played a significant role in the growth of a business. As the business guru of our time, Peter Drucker said:” Business has only two functions – marketing and innovation.” Whether it’s a start-up or a well-established business, it has become inevitable to devise a compelling marketing strategy.

Research prospect has also highlighted the impact of IT on revolutionizing marketers’ approach towards manipulative advertisements.

73% of marketers believe that social media marketing has been “somewhat effective” or “very effective” for their business (Buffer, 2019). Whereas, Ambassador has concluded that 71% of consumers who have had an excellent social media service experience with a brand are likely to recommend it to others.

These staggering numbers are the reason that every start-up discussion comprises seeking leverage of a particular social media platform. Moreover, you might want to look into the benefits of social media promotion for small businesses.

Thus, if you are willing to walk an extra mile to make your business flourish, you might want to contemplate over the following marketing hacks:

Strategy

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“If you don’t know where you are going, you’ll end up someplace else” -Yogi Berra. If you are to set on a journey to success, you must ensure that the road you are on leads to it.

Before devising a solid strategy, you and your corporation should define specific business goals. Whether it is to increase your sales or to grow brand awareness, social media can act as a catalyst to your vision.

Your success will be quantified based on a timeline that involves your milestones and a set time. Here we do not want to end up like most people who reach an illusion of failure by setting impractical and infeasible targets. Conversely, your timeline should be well-thought, challenging, and manageable.

Today, most of the audience is already involved in an interaction with different brands. If you do not have a comprehensive plan to conquer the available social customers, you will be missing out. If you know your market, opt for the best platforms which can escort you to overwhelming customer response.

Identification of appropriate platforms leads us to a crucial stage of marketing, the message.

Content

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The presence of your brand on social media must be symbolised by a strong message. Have you ever given any thought to the phrase: “The best marketing doesn’t feel like marketing” The ultimate success in terms of social media marketing is when a glance at your post turns into a gaze. But to make that possible, your content must comprise of some salient features.

Your posts should correspond to your vision and smartly relate to your customers. Let’s say you want to market a pair of runners. You might tell a tale of the gym that your customers connect to while publicising your runners.

A striking imagery and an appealing watchword will do it for you! In the case of advertising, the promotional message should be compelled to concise wording, while making sure you avoid the use of foreign terminologies. Moreover, you don’t want to advertise a lengthy boring video compelling people to mute your account.

Leo Burnett’s words perfectly explain the art of marketing: “Make it simple. Make it memorable. Make it inviting to look at. Make it fun to read.”

Interaction

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Building a promising brand loyalty is the goal of every brand that has just embarked on its journey. An aim that many fail to accomplish and end up being dead in the water.

You may pull in a customer for once in a while, but for an intimate customer relationship you have to act diligently. Engage your clients in delightful interactions on each social media platform.

Encourage the comments on your Facebook posts, respond to the DMs on Instagram respectfully, and retweet their positive feedback. Monitoring social media conversation about your brand will assist you in revamping your advertisement strategies and figuring out your content.

When it comes to contacting you, your purchaser must never hesitate. Be it criticism, negative feedback, or a positive comment; your team should always welcome their opinion.

Offer them your support and save the day before the situation escalates.

For further engagement, post frequently! The more they see your content, the more they’ll talk about it. Once your brand is implanted in their conscience, the likelihood of making a sale will amplify.

Analytics

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Data-driven metrics are the perfect way to rate your marketing strategy. Low numbers will aid you in identifying your weak points, whereas the high ones will boost your morale. Let’s dig a little into some essential social media metrics.

Reach: Number of unique users who have come across your post at least once. To what extent is your content spreading across the social platforms? Is it reaching the intended users? It’s the essential metric to be considered for evaluation.

Clicks: As the name suggests, this metric comprises a number of clicks on your content, name, or logo. This helps in assessing the level of appeal your content originates. This, you can know what seems to attract your consumers.

Engagement: Engagement rate can be calculated by dividing the total number of social interactions e.g., the likes, shares, or comments, by the number of impressions or reach. This is used to determine the extent of interest shown in your content by the people who saw it.

Among the number of social media metrics, we have discussed the essential ones. These metrics play a vital role in setting your milestones. You get an opportunity to revisit your strategies and accomplish the growth of your business.