Organic social media reach is continuing to decline for brands as social media algorithms juggle greater brand saturation on social platforms. One study found brands in general received only a 2.6 reach, a number that is most likely even smaller for B2B specific brands.
Stats such as these are forcing brands to spend on social media advertising to drive ROI. Gartner, Inc. has stated, “social media advertising is no longer optional.” Marketers seem to agree – the U.S. based research firm published a 2016 survey finding 80 percent of social marketers say they have—or will have—social advertising programs in 2017.
Social media might never truly have been “free,” as studies have found a minimum of six hours per week investment to drive ROI. Now, however, brands will also need to invest in social media advertising to find brands on social.
Despite the increased cost required to drive value, brands have continued to find social media platforms some of the most effective and economical methods for driving digital marketing results. Just over 50 percent of B2B respondents ranked social media as “very low cost” or “somewhat low cost” when rating demand generation channels on the cost per lead. Hootsuite also points out, “the opportunity to test your content organically, for free, to see how it performs, and then only pay to promote your best content.”
Whether you plan to tackle the social media challenge yourself or would prefer a freelance service such as Steele Social Media, we’re here to help guide you to the right resources and strategy for your unique brand.