With 3.2 billion social media users worldwide in 2018 and increasing by 13% each year, social platforms became the fastest growing markets humans ever witnessed. From pet supplies to fashion to real estate deals and everything in between, social media has made a room for everyone to share ideas and everything to be presented.
Evidently, those who understand the know-how of social media can let their voice echo louder than others and grow faster. One of the critical know-hows is to detect the common myths circulating social media marketing and avoid colliding with it.
With that thought in mind, find out about 5 of the most common social media marketing myth traps.
Myth 1: Always promote your content: That’s your Reach “pumping machine”
It’s a given that growing your audience base and acquiring new customers is a top goal for every business. However, keeping your already-existing audience engaged and intrigued about your content is essential not only to be taken into account- but to be prioritized on the same level as well.
Takeaway: Do this by following Pareto’s Principle (aka as “The 20/80 Rule). Brian Tracy clearly defined it as “20 percent of your activities will account for 80 percent of your results”. Here, the 80% represents your already-present client base, as they are the ones supporting and/or following your business right NOW. They are interested people and not just passersby that you still have to convince.
How to do this?
Apply Pareto’s Principle by writing only 20% of your content for reaching new customers and promoting your brand, while writing the other 80% of your content to keep your audience engaged with your content, informed about your business, and their attention at a pique for whatever you publish- just because they know it is coming from YOU. This is one of the highest scales of customer engagement most businesses could plan for- aim for it
Myth 2: Lots of Followers = Successful Business
Nope. Lots of followers= social proof. A not-so-important factor in the hierarchy of your social marketing strategy. Why?
Simple. You can have hundreds of thousands of users but they are either random followers, un-engaged audience, or anything in between. They only serve as a “number booster” on your Social Media page. They are not potential clients nor boost your business in any strategic way. That’s what they are for you and that’s – definitely- not a sign for a successful business.
Takeaway: Don’t make random audience aggregation your goal at any phase in your business. Providing engaging content and appropriate CRM is essentially suitable to grow your target audience over time.
Myth3: Being on Lots of Social Networks is a Must
A common trap for startups. Trying to be everywhere at once will do nothing but disorient your efforts, destroys the 20/80 ideology, and leaves you lost in recovery dilemma.
Takeaway: Focus your energy and efforts on only ONE social network and spread from there.
How to do this?
Find that single traffic channel you want to use and dive deep to understand its algorithms. Tame it to your style and grow it to reach your goals. Later, after you acquired proper experience, you will be able to easily diverge to other networks through many tech tools present with much less fuss.
Myth 4: Awesome Content = Rapidly Rising Audience
Another beginner misconception. Startups should especially take note: No matter how unique your content is, it will never spread if it’s not known that you exist in the first place.
Moreover, because of the ever-growing content published every second on social media networks, it’s not that easy to draw the attention of the users nowadays like before. You have to step into the battlefield with countless competitors – but no worries. If you demonstrate proper skills, you will be noticed soon enough.
Takeaway: Give your content time to grow.
How to do this?
Easy. Don’t stalk your reach counter every few minutes 😊
Myth 5: Social Media is the best way to generate leads.
This is quite a shocker- and for a valid reason. Many people who click your posts or interact with your content are just passersby, not guests. Passersby are statistically represented by CTRs (or click through rate of users). They just hop in, take a quick look, and hurriedly leave -usually never returning again. Unsurprisingly, this attitude is the direct result of the behavioral nature of social media users in general. Because of the race of interesting, second-by-second content on social media platforms, users have developed an instinctive habit to just jump in and out of relative content to get a birds-eye view of everything. This is not a happy story for businesses. What to do? Read these 3 statistics.
- SmartInsights and GetResponse conducted a survey[1]with 585 marketers that supported that email marketing is still more effective than other channels, with participants rating it as the best for ROI.
- Three-quarters of companies agree that email offers “excellent” to “good” ROI. (Econsultancy, 2016)
- eMarketer also conducted a survey[2]in 2016, which found that the average ROI for email marketing was an astonishing 122%. Ahead of social media, paid search, display ads, and even direct mail. Yes, you read that correctly.
Takeaway: Social media is a proper medium to build brand awareness and a stunning tool to connect with your existing clients and potential customers. However, it’s not the most efficient method of increasing your conversion rates (i.e. converting prospects into customers).
What to do?
I stress- this is by no means an imply to abandon social media. This is just a red flag that you should properly integrate email marketing in your overall growth strategy and utilize social media platforms for what they are best for.
Conclusion
In social media marketing – or marketing in general-, you have to set realistic goals and avoid common traps that would hinder your achievements. The 5 myths above are only a glimpse of common misconceptions regarding known marketing beliefs. Always keep your eyes open for them and you will save yourself – and your business- a lot more time and money.
Do you think there is an outdated social media strategy or other debunked myths?
Share with us in the comments below.