We may be a bit biased when it comes to talking up the benefits of social media, but fortunately, you don’t just have to take our word for it.
Food for thought: 59% of marketers are actively using social to support their lead generation and business goals. Meanwhile, it’s hard to find a brand that isn’t active on social media in some way, shape or form.
However, there are still plenty of critics who don’t see the benefits of social media from a business perspective.
To the general public, social media often gets a bad rap for being a time-sink. More importantly, measuring your ROI from social media can be difficult versus more straightforward marketing channels (think: PPC, email marketing, etc).
So you may be asking yourself “What are the benefits of social media?”
Well, we have an answer. Actually, we have nine of ’em.
The 9 most overlooked benefits of social media
Social media deserves your attention now more than ever.
Although it may not immediately result in a flood of cash or that “viral” moment you are hoping for, there’s so much that social can do for your brand both short and long term.
Here’s our breakdown of the social media benefits that often fly under the radar for modern businesses.
1. The ability to uncover industry trends in real-time
Simply put, social media is a potential goldmine of business intelligence.
How so? For starters, think about the transparent nature of social media. We’re able to see unfiltered, real-time conversations between consumers and brands alike.
If you want to know what a brand is doing well or likewise what customers are complaining about, it’s all out there in the open.
And of course, your target audience’s social activity and shared content can clue you in on industry trends. For example, Instagram hashtags such as #summerootd or #festivalfashion can highlight everything from relevant influencers to fashion trends that are currently all-the-rage.
more granular estimates of Google AdWords advertiser ad bids
more emphasis on commercial oriented keywords
With the new columns of [ad spend] and [traffic value] here is how we estimate those.
paid search ad spend: search ad clicks * CPC
organic search traffic value: ad impressions * 0.5 * (100% - ad CTR) * CPC
The first of those two is rather self explanatory. The second is a bit more complex. It starts with the assumption that about half of all searches do not get any clicks, then it subtracts the paid clicks from the total remaining pool of clicks & multiplies that by the cost per click.
The new data also has some drawbacks:
Rather than listing search counts specifically it lists relative ranges like low, very high, etc.
Since it tends to tilt more toward keywords with ad impressions, it may not have coverage for some longer tail informational keywords.
For any keyword where there is insufficient coverage we re-query the old keyword database for data & merge it across. You will know if data came from the new database if the first column says something like low or high & the data came from the older database if there are specific search counts in the first column
For a limited time we are still allowing access to both keyword tools, though we anticipate removing access to the old keyword tool in the future once we have collected plenty of feedback on the new keyword tool. Please feel free to leave your feedback in the below comments.
One of the cool features of the new keyword tools worth highlighting further is the difference between estimated bid prices & estimated click prices. In the following screenshot you can see how Amazon is estimated as having a much higher bid price than actual click price, largely because due to low keyword relevancy entities other than the official brand being arbitraged by Google require much higher bids to appear on competing popular trademark terms.
Historically, this difference between bid price & click price was a big source of noise on lists of the most valuable keywords.
Recently some advertisers have started complaining about the "Google shakedown" from how many brand-driven searches are simply leaving the .com part off of a web address in Chrome & then being forced to pay Google for their own pre-existing brand equity.
When Google puts 4 paid ads ahead of the first organic result for your own brand name, you’re forced to pay up if you want to be found. It’s a shakedown. It’s ransom. But at least we can have fun with it. Search for Basecamp and you may see this attached ad. pic.twitter.com/c0oYaBuahL