Social media is more popular than ever imagined. In the United Kingdom alone, there are 57.1 million active social media users. It has become an integral part of our daily lives, and those not on social media can feel like they are missing out on a lot – the FOMO (fear of missing out) is real regarding social media. With funny pet videos, recipes, DIY project sharing, and other engaging content, social media has become the go-to source of entertainment for many.
This means that social media marketing is a game-changer for all businesses, big or small, as it allows them to compete in the same arena. It can help propel your business to the forefront of conversations and mainstream media in ways that traditional marketing methods like newspaper ads and commercials once did. This is because social media is always on, and we are always on our phones. The marketing world is no longer limited to television or radio; it’s in our hands. However, the question arises: is social media marketing enough to attract more customers, or should you supplement it with other marketing methods?
Regardless of its size or how long it has been operating, every business has a budget. Your marketing budget is crucial in determining how far your message will reach and how many people in your target audience you can connect with. In context, £34.77 billion was spent on marketing between 2010 and 2022, a substantial amount of money. However, we don’t know the results of that marketing. What we do know is that the time you spend planning your marketing investments is equally as important as your spending.
It’s imperative for businesses to have a marketing plan and to determine the most effective marketing strategy. That’s where analytics come in handy. These metrics and results provide valuable insights into what tactics are working and which are not, enabling your business to make informed decisions about where to invest resources. In the United Kingdom, WhatsApp is the most widely used social media platform based on usage reach, followed by Facebook and Instagram. YouTube leads social media apps for brand awareness, followed by Facebook. Aside from social media, the top forms of marketing include face-to-face marketing, content marketing, digital marketing, influencer and search engine marketing.
At Credico, we believe an omnichannel marketing strategy is the best approach to connecting with your target audience. Omnichannel marketing involves integrating and coordinating an organization’s various communication channels to provide a consistent brand experience for consumers. This approach seamlessly integrates branding, messaging, and online and offline touchpoints throughout the sales funnel, resulting in a more impactful customer experience. Omnichannel marketing prioritizes the needs and preferences of consumers, making it a consumer-centric approach to marketing. These touchpoints do include social media, with a heavy focus on face-to-face marketing.
Implementing an omnichannel marketing strategy can expand your reach and provide you with valuable customer feedback in real time. This approach involves collecting and consolidating customer data from various channels and systems, such as market segment identification, zip code tracking, demographic information such as age and gender, and customer’s level of familiarity with your brand. The market for Retail Omni-Channel Commerce Platforms has a significant potential for growth. The latest Global Strategic Business Report shows that its value, measured in USD, was $8.1 billion in 2022 and is expected to jump to $27.7 billion by 2030. The RetailEconomics UK Omnichannel Retail of 2023 reports that 61% of consumers prefer shopping in physical stores, while 39% mostly shop online. Marketing works to drive sales, and an omnichannel approach can take your investment and marketing efforts beyond your average reach.
If your business has FOMO because you’re missing out on marketing opportunities, contact Credico today. We can help your business lose the fear of missing out and connect with customers through an omnichannel marketing strategy.