While social media was a novelty for businesses five years ago, it has become an essential component of the online marketing mix in 2014. Brands across all verticals have discovered a myriad of benefits in leveraging platforms such as Facebook, Instagram, and Twitter to market their businesses online.

Social media marketing has quickly become valuable for brands because a perfectly executed strategy can help accomplish various business objectives, such as increased brand awareness and sales generation.  An infographic prepared by Merchant Money details the effectiveness of social media in this new era of digital marketing, as well as the main platforms that can be utilized for various campaigns. Depending on the nature of your business, certain social media platforms will be more applicable than others. For example, B2B marketing requires a presence on Twitter and LinkedIn to establish credibility and generate leads. On the other hand, visual-based platforms such as Pinterest, Instagram, and Vine provide prime opportunities to market products for ecommerce business.

As you develop your overall social media marketing strategy, it’s important to understand where you can reach your audience and how to engage users on a consistent basis. Failing to fully understand your audience in this step can prevent you achieving core objectives and adversely affect your overall presence on social media platforms.

Which platforms does your company use (or plan to use) to market your business?

Infographic Source: Merchant Money