We all know by now that social media (SM) marketing is not only here to stay but growing as an effective and viable form of promotion. The platform it has created, where people can be contacted directly and immediately with rich marketing materials such as videos (see our post on video in social media marketing for more information), is priceless for local businesses and multinationals alike. How often do you get a real, tangible measure of your SM presence and campaigns influence on your readership though? Return on investment (ROI) in social media marketing is, although not impossible, notoriously hard to measure. As a small business owner how could you find the time and resources to develop an efficient system to determine how much of an impact your SM efforts had on a sale?
Luckily for us Google, as the 44th most profitable company in the world, does have the time and (plentiful) resources to do just that. They recently released an infographic that, if you can get past the blatant Google sales patter, contains some interesting information. Although it is based on the automotive industry alone it is still intriguing to see how much customers feel they are influenced by social media marketing. Inevitably, different industries will be affected in different ways but the figures are still fascinating as a measure of just how far SM permeates into people’s decision making.
First thing first, here is the infographic. Have a look and make sure you keep scrolling to see what we have to say about it.
Let us start with the numbers.
- 33% of social media users follow automotive brands to get purchase advice
- 21% of auto purchase decisions are influenced by social media – more than any other industry
- 75% of vehicle buyers find social networks useful
Google goes further however and tells us that:
- Google+ traffic resulting in a KPI (Key Performance Indicator) for auto manufacturers is up 26%
- Google+ traffic resulting in a KPI for Parts & Service sites is up a whopping 281%!
So What Does This All Mean?
At a glance, it tells us that social media marketing does have an impact on final purchase decisions of consumers. It also tells us that it does more than that. Not only do social media campaigns drive final conversions they also create a platform of useful information for many of their users, 75% in the case of vehicle sales. The question you need to pose to yourself is ‘Am I making the most of this?’ Do not just broadcast your latest offers or new products, you will be falling on deaf ears as people scroll through to the next funny cat picture on their timeline:
What you need to do is provide people with something tangible and of value. Hence why we are writing this article today. If you are in the clothing business share an interesting fact about the history of t-shirts. If you run a restaurant in a city centre upload a post listing the nearest free parking spots that people can use, not just for visiting you, but for whenever they visit the shops as well. These types of posts are likely to get liked or even shared, this is what you are aiming for as an engaged audience is an attentive audience.
But what about those final conversions?
33% get auto purchase advice via SM and 21% of auto purchase decisions are influenced by SM. That is almost one third of the market turning to social media to work out where they want to spend their money. We cannot think of a clearer indicator as to why your brand needs to be on Facebook, Twitter, Google+ and LinkedIn yesterday. Unsurprisingly Google have chosen to highlight Google+’s KPI conversion rate, but there is no avoiding the fact that a 281% increase in KPI’s for parts & services sites is extremely impressive. This number will only increase.
So, now you have been convinced as to the advantages of social media marketing how exactly do you go about it? Luckily for you we have written our very own article on how to create successful social media campaigns, we are too good to you really aren’t we?
Of course, if you understand the need for high quality social media campaigns but feel you don’t have the time, or are a bit confused as to what EdgeRank is, we can help. As a bespoke web design and SEO company we can help you with every aspect of your social media campaigns with a full social media optimisation package. We can assist in everything from the setting up of your companies accounts through to creating compelling and original content to drive engagement. If you feel our services could help you please call us on 01753 878435 or email us today to discuss your needs.
Written by Ryan Hill