Every social media agency might have shot themselves on the foot when they glorified social network marketing to what it is now as businesses became demanding in terms of results and ROI. More specifically, businesses are now looking for how marketing in social sites can actually bolster their bottom line. In short, the million dollar question (pun intended) for every social media marketing company now is: can social media sell?
There are different and contradicting schools of thought in answering this question. However, based on hard numbers, it seems that social marketing is not bringing in the green. According to reputable market research organizations GSI Commerce and Forrester Research, sales from social sites comprise a paltry 2% of the total internet sales. Search engine marketing and email marketing still proves to be the most effective tool when it comes to making sales in cyberspace.
So, are the sweet promises offered by a social media agency empty and baseless? If not, where does social marketing play in an industry where there is a shift towards concrete ROIs measured through revenues and profits?
Social Networks Are NOT Salesmen
It can be a case of reality bites or a clear misconception – it really depends on how you look at the situation. Either way, every social media marketing company should accept the fact that social sites may not have the power to convert social users into actual paying customers wherein the boundaries of their platforms – well at least not just yet.
This means that businesses who are doing promotional campaigns on Facebook or Twitter should not expect that they will make sale on Facebook or Twitter itself. However, what’s interesting to know is while these social networks don’t necessarily make the conversion themselves, they play a crucial role in influencing the purchasing behavior and decision of people.
Making a Sale is a Process
What businesses, especially those who are engaged in e-commerce should realize is that making a sale is not instant combustion. Even the most impromptu purchase or impulsive acquisition went through a process, which is exactly why conversion optimization experts usually use the term “sales funnel.”
This is where the power of social networks comes into play and the expertise of a professional social media agency can prove to be beneficial.
Undeniably, the Internet is one of the busiest and most cluttered marketplaces on the planet and social media marketing increases awareness, reinforces customer and market engagement, establishes trust and builds brand loyalty. At the end of the day, there should be a great paradigm shift among business owners that while social media does not generate money directly, it does contribute a lot in terms of sales process and compelling the market to buy and purchase from a brand or company.
That being said, when done right, a social media agency and social network marketing can be viewed as the unsung heroes of conversion optimization initiatives.
