How Social Media is changing the face of Marketing
  • Jun 07, 2021
  • EOE Digital

How social media is changing the face of marketing

Michael Stelzner once said that Social Media is the fastest growing industry in the world. Although social media has had its drawbacks, it has proven to be equally beneficial. You can keep in touch with high school friends, check on long-distance family and professionally, grow your business.

Despite this, one thing I have picked up in the insurance industry is:

Financial advisors do not realize its potential. It always starts with a few posts a month and then it becomes more and more scarce due to the “lack of time” factor.

Why would my business be on social media?

That is like asking what Obama's last name is!
Don’t believe us, believe the stats:
  • According to Data Reportal, 25 million South Africans utilize social media.
  • The number of users increased by 14% between 2020 and 2021.
  • 3.78 billion people worldwide are social media users.
  • Your clients, prospects and potential leads are on social media. Therefore, it’s the best manner to communicate with them and create awareness of your business.

Three ways social media has changed marketing

  • Communication
Did you ever think you would be part of an era where people express a lot of what they do on social media? It’s created a space where people feel comfortable sharing everything with the world. Furthermore, people no longer just express themselves through text. They use unique ways to get their message across such as emojis and GIFs. Multiple businesses use social media platforms such as Twitter as their main form of customer service. We no longer have to fill in a form and wait 3-5 working days for solutions.

How are you choosing to communicate with your prospects?

  • Social media is a hotbed of research
Gone are the days where you had to conduct focus groups, or long questionnaires to find out how people feel about certain products and services. Just look at Hello Pete or type in a company name and look at their reviews.
Not sure how this will benefit your business?
Use this to find out where there is a gap in the market such as what financial management aspects are your prospects struggling with most, or how do they want you to approach them?
Find out how your clients want financial advisors to better connect with them.

  • Reach
We know that what Facebook knows about us is terrifying at times, but from a business's point of view, you can pinpoint your ideal target market and make sure they know you exist!

What we want you to take from this is that social media is not going anywhere and it's only going to get bigger. It's not a quick fix and it's not going to solve all your marketing problems, but it is an easy and inexpensive manner to get your business noticed.

Let us assist you with your social media needs!