Social media is one way to sway potential customers into buying your product, but according to a recent report its influence is dwarfed by email and online search. While social media is growing - up 77% from 2011-2012 - and big players like Facebook are adept at driving people to other sites, those people don't do much buying.
In fact, the report showed sales conversions to visitors from social media sites sat at a little over half a percentage point, at .59%, while conversion rates for search engine referrals (2.5%) and email marketing (4.25%) left social media in the dust.
Where does this leave social media marketing in your company's overall plans? It's still a great way to engage with your target market and build awareness. Just don't count on it as a direct response tool.
What does all this mean to your business? Is social media marketing worth the investment? Depending upon your line of business, yes. Engaging your target market with regular contests, polls, questions and information is all easily and affordably accomplished using tools like Facebook and Twitter.
