Social media is not enough if you want successful marketing.
Facebook will be one year from its legal drinking age this February. As the platform turns 20, we can’t help but notice its impact. You can add the likes of X (formerly Twitter), Instagram, and the long-forgotten MySpace to the list of platforms.
Social media is a powerful tool. A Facebook page, Google listing, and even a LinkedIn presence are tickets to entry for any business that is serving the public. At Genesee Media, we speak with hundreds of small business owners every year, and see where social media helps out – but we also get to see where it does not deliver as promised.
Let’s debunk some myths about social media as an advertising medium.
Myth No. 1: It Costs Nothing
Incorrect. To be effective at social media, businesses need to invest resources. This can be using a firm to create posts, full-time employees to create and react to posts, or buying traffic to get people to look in deeper.
Myth No. 2: Social Reaches So Many People
Hootsuite has some eye-opening statistics based on their extensive research. (See more at https://blog.hootsuite.com/facebook-statistics/)
The average engagement rate for a Facebook post is .07%. That means that out of 10,000 people who scroll through a post, only seven will interact. If we use the benchmark social media conversion rate of 2% to 5% – people who interact with a post who then visit a store or website – then you need 30,000 to 70,000 views to gain one potential customer.
Unless you spend a lot of money on Facebook for ad placement, your posts are lost in the clutter of paid advertising. We see posts from local businesses who have thousands of followers but get little or no response or interaction.
Myth No. 3: Businesses should spend 100% of their budget on social
Businesses can pay for boosts on posts as mentioned above. It can be a useful part of your marketing. But the reach is limited and the cost per interested customer can be very high.
Facebook and other platforms do not cover in-car entertainment or in-office listening, and your ad will have limited exposure. You need more than one channel.
At Genesee Media, we create media campaigns using multiple channels – including broadcast, social, and digital – to grow your brand and bring you customers.Find out why your social media is probably not enough – and receive a FREE Digital Marketing Report Card