Social media’s impact on modern business is undeniable. With billions of people using social media every day, it opens up a whole new market for businesses to exploit.
And the platforms are many.
From Pinterest to Twitter, Facebook, and Instagram.
Which begs the question…which social media platform is the best? The simple truth is that you can market your business’s products on all of them.
However, given the limited resources and time, it would be inefficient to use all platforms. The trick is to identify your target market and start from there.
1. Defining the target audience
Before you can even begin to think about marketing your products, you need to first identify who your target customers are.
These are the people who will be most interested in buying your products.
There is no getting around this fact.
For the business to be successful and be able to compete in the dynamic and always volatile modern business environment, targeting a specific market group is paramount.
2. Going online
Once you know who you are marketing your products to, it’s now time to go online and find them.
Suppose you have a product that is geared towards the older generation. Facebook will be their preferred social media platform.
On the other hand, if your target market consists mainly of millennials, then Instagram is the best platform for developing a good online presence.
This is not to say that you pick just one platform. It is perfectly fine to choose two or even three social media platforms provided you don’t pick too many that you cannot effectively and efficiently perform marketing on all of them.
3. Study the competition
Your business can benefit from the competitors’ activities. Search them out on social media and find out who is following them.
But be careful.
You should only seek out the competitors that are in a similar niche as you. You’ll be able to see who they are targeting, and how they are tailoring their marketing campaigns to the target market.
Then you can come up with similar or even better ads for your target market.
4. Social media insights
One very important tool to gauge the success of your social media advertising is using insights from the major platforms such as Facebook, Instagram, Pinterest, and Twitter.
And what’s more…
You can even find out the interests of your followers through these insights. If for example your followers are food enthusiasts and show an interest in fitness, you can use this information to branch out on the content you offer.
By offering content on fitness, you have an extra touch point with your followers which further strengthens their interest in your products.
5. Analyze your website’s traffic
Okay, granted we are talking about social media.
However, isn’t the goal of social media marketing to direct traffic to your website where people can then make a purchase?
Now that we have that out of the way, using tools such as Google Analytics will help you gauge whether your target marketing efforts are paying off. More people to your site will ultimately mean more conversions.