Should Every Company Really Invest In A Social Media Strategy? | Martech Zone (2024)

Social media has become an integral part of our lives. For businesses, it presents a unique opportunity to connect with their target audience, build brand awareness, and drive sales. However, with the ever-changing social media landscape and the increasing costs associated with it, it’s essential to evaluate whether investing in social media marketing is the right move for your company.

A decade ago, when social media platforms promoted organic reach for brands, I advised every client to take advantage of these channels. I’m not as optimistic about brand reach on social media now, though, especially for companies with limited marketing resources. The platforms are pushing more and more brands to advertise, minimizing organic visibility to almost nothing. It’s now a pay-to-play medium.

While my social media presence is ripe for criticism, I simply don’t see my promotion of these articles or platforms resulting in any significant response or growth for the site. I do maintain my channels, but they’re largely just syndication resources where I’m trying to drive traffic and immediately get new visitors to sign up for the weekly newsletter. I don’t have time to engage with everyone online and it doesn’t result in revenue opportunities as other strategies have.

The Power of Organic Social Media

Organic social media refers to the unpaid reach and engagement that your content receives on social media platforms. While it may seem cost-effective to promote your brand, it’s important to understand its limitations.

• Echo and Promote: Organic social media can be a powerful tool for amplifying your brand message and reaching a wider audience. When your content resonates with your followers, they are more likely to share it with their network, increasing your brand’s visibility.
• The Decline of Organic Reach:Unfortunately, virtually every social media platform has made it increasingly difficult for brands to grow an audience and engage the community organically. The algorithms favor paid content, making it challenging to reach your target audience without investing in advertising.

While social media’s numbers and reach are impressive, users don’t always use these channels to research or find their next purchase. Leveraging social media effectively means having an engaging strategy on that channel that fulfills the expectations of the users.

As an example: Promoting a solution on search engines will likely introduce your product or service to those who are searching for them. However, promoting a solution on social media may not. Social media marketers often have to modify their expectations from direct conversions to building awareness

The Cost of Engagement

Engaging in social media requires a significant investment of time and resources. It’s not just about posting content; it’s about monitoring conversations, responding to comments and messages, and building relationships with your audience.

• Setting Expectations: When you establish a presence on social media, your audience expects you to be responsive and engaged. Failing to meet these expectations can damage your brand reputation and lead to customer dissatisfaction.
• The Risk of Abandonment: If you decide to abandon your social media accounts due to a lack of ROI, it can send a negative message to your audience. It may appear you don’t care about their feedback or are unresponsive to their needs.

So… it may actually be a better strategy to avoid building out a social media presence altogether than to find out it’s too expensive a channel and lacks the return on investment (ROI).

Pros and Cons of Social Media Marketing

Before deciding on investing in social media marketing, it’s essential to weigh the pros and cons carefully.

By carefully considering these factors, you can make an informed decision about whether or not social media marketing is the right investment for your business. Remember, social media is constantly evolving, so it’s important to stay up-to-date on the latest trends and best practices to ensure your success.