Ever thought of what would happen if Facebook, Instagram or LinkedIn seize to exist? How would this impact your business? Will it have a negative impact? Will your business crumble under algorithm changes or thrive with aggressive paid media models implemented by all social channels to reach your audience?
Are you building your business on digital property that you own or are you largely dependent on the social media ecosystem for your business success?
I will not debate this – ‘Social is important today, and will be tomorrow’. With 90% of the millennials choosing social sites as their preferred channel, brands ought to have a presence.
The share of overall marketing budgets devoted to social media marketing is expected to increase from about 10% on average today to nearly 25% within the next five years. That may be because social media isn’t just about lead generation. Social is viewed as the second-most effective digital tactic for customer retention, behind only email.
So let’s get this right. Social media marketing help brands create a community of fans. It is necessary to have an omni-channel strategy, with a unified message across all channels that will help brands reach their ultimate business goal.
That said, building your business foundation on social channels that you don’t own puts your business at much risk. You have no control on the changes these social sites bring about and its affect on your audience that reside there.
With social site changing their algorithm, brands are unable to organically reach their fans. Facebook’s organic reach dropped from 12% to an astonishing 1%. To avoid clutter of content on the timeline, Facebook and now Instagram expect brands to pay and reach. What started as a platform for identify and interact with their audience, today even powerful and engaging content does not promise you reach.
Social Media must and will remain a key part of the marketing mix. But in order for brands to control and manage their audience in a more self-strategic way, brands need to create a space, a community and an owned channel that can help foster relationships that are mutually beneficial. The ‘followers bank’ is the most valuable asset any brand can own and it takes years to develop a relevant and a long list of fans, potential customers and advocates. And platforms such as blogging, is a medium that allows brands to own their ‘followers bank’.
Marketers who have prioritized blogging are 13x more likely to enjoy positive ROI (HubSpot State of Inbound, 2014). With blogging, brands can
1. Higher search engine listing
2. Drive traffic to the website
3. Place relevant call-to-actions, converting traffic into leads
4. Establish authority and trust
5. Drives long-term results as the posts are visible longer compared to social media
Blog as a platform and email marketing as a tool, can inspire, attract, engage and nurture your customers, without having to worry about how social sites tweak their platform.