Social Media Marketing has become one of the strongest and most popular ways marketplaces have created leverage for their companies. Many people may think it is easy to gain followers or get likes on a post, but it is much tougher than believed. In a recent article from @Entrepreneur, @jaysondemers brings up 7 Unspoken Truths of Social Media Marketing.
Time is money
When is comes to joining social media, there are no costs to join, whether you are a business or just for personal use. One can personalize and add their own unique flavors to their profiles, but who will manage the page? Nobody wants to follow a page that is inactive and boring. This is where money must be spent even if it’s just a couple hours a day. A marketplace must establish a social media presence to help build SEO and increase their reputation.
Pattern of success
Whether you only manage one social media account or multiple, success will not necessarily be the same. While people may talk about knowing the secret to success, every business is different. Different marketplaces have their own target markets, own demographics, and even culture on how to run things. No single strategy will grant success so it is important to identify those variables to tailor your marketing strategies.
Reach is huge in marketing. How will one see or hear about your marketplace if your account only has 25 followers? This is where your return on investment starts to get questioned. Not every marketplace will boom like @airbnb or @lyft has, but eventually, social media will start to pay off. Be more active, establish a presence on social media accounts to increase your followers and following. The more people that read about your marketplace, the higher the chances of gaining an audience.
Numbers can be deceiving
As you may start to increase your followers, it does not necessarily guarantee everyone will see your posts or tweets. This is why it has become a numbers game when it comes to social media, as companies such as Facebook and Twitter understand the potential revenue that can be made. This is why we now use Facebook ads, Instagram ads and Twitter cards. A set algorithm by the companies is designed to reach your followers, but if you have 10,000 followers, it is very unlikely you are reaching all of them.
If you have ever checked analytics to social media accounts, the data is very detailed when it comes to the demographics. Anywhere from income, lifestyle and to consumer behavior. It is quite impressive on how those numbers are available as it can help adjust your strategy to cater to your audience. Although that data may look good, it can be a bit misleading as well. With the amount of impressions or clicks your page may get, it does not necessarily give insight on how one may have come across your post or how one even feels about it. One can simply see the post, scroll through without even looking at it and would count as an impression. Always keep in mind, quality is more important than the quantity.
Stay on your toes
Change is inevitable. Less than 10 years ago, I was using Myspace to interact with my friends and now, the younger generation probably does not even know what that is. Technology is evolving so quickly that, people are so accustomed to change. People are constantly looking for the next greatest thing, and if you keep doing the same thing, your results will become stagnant. While it is good to have a routine you are comfortable with, don’t let that dictate your whole social media strategy. Be ready to make changes and understand, you won’t get the opportunity much often
No one is perfect. Be ready to make mistakes, but more importantly, learn from them. Often times as a social media marketer, you will schedule something at the wrong time or have a few typos in your content. Don’t worry about it, as it is a learning curve to help you do better the next time around. The fire or anger you may have inside yourself can fuel your future projects to minimize those little mistakes.
Many of you may be rethinking social media marketing now but still can bring in the best bang for your buck if managed properly. Be sure to understand your market and target market in order to tailor your marketing strategy. Keep in mind, your marketplace will not become a success overnight and as it is just a step in the right direction for your long journey.
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