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Jun 27 Posted 1 year ago
Good article. I agree that social media does provide a great platform for customer service, but in terms of generating leads for small businesses, it is actually one of the most inefficient lead generation methods out there.
Spending money on search marketing yields way better results. In fact, several studies point to this. People turn to search 97% of the time for shopping/product research. When you look at holiday e-Commerce traffic sources you will find search drives 34% of traffic and social only 2%. (If you need links to the studies then I will be happy to provide them.)
Those figures are consistent across most industries.
Some critics would argue that you should cover search and social. However, according to USA today 61% of small businesses don’t see a return on investment. Whereas 40% of search marketing campaigns achieve an excess of 500% ROI. So why would you even spend any money on trying to drive leads through social media?
Any money you spend on social can be better spent on search. I doubt that any small business has the $1m+ budget to saturate their search presence.
There really isn’t any room for a small business to spend time and money on generating social leads if they haven’t exhausted search, which can never happen.