Social media is the latest marketing tool for building a brand and increasing its visibility. A brand exists online only when it is well-represented across all social media channels through regular interactions and engagements, which not only creates brand awareness but also boosts web traffic, driving real value to the brand or company.

A recent study indicates that 84 per cent of business-to-business (B2B) marketers use social media to reach out and engage with customers, forming relationships with potential patrons while strengthening ties with existing ones. The platform gives a voice and content to a brand on various networks, making it familiar, recognizable and accessible to customers. The added engagement it facilitates leads to improved brand loyalty as well. In addition, all audience interactions through blogs, videos, photos or campaigns not only enrich customer experiences but also result in higher conversion rates; in fact, studies have indicated that social media has a 100 per cent higher lead-to-close rate than traditional marketing. Continuous engagement with the audience is also an opportunity to assess customer behaviour and gain valuable information as well as measure the success of different promotions on various channels.

In the UAE, social media is a highly preferred marketing medium due to easy internet access, affordable smart devices, and the popularity of various social media channels. A 2016 Social Media Survey states that WhatsApp had 97 per cent usage while Facebook has 89 per cent, followed by YouTube at 73 per cent. Snapchat and LinkedIn are at 27 per cent and 26 per cent, respectively.

Since social media advertising has become an integral part of marketing, it is essential to earmark a budget to fully harness the effectiveness of the platform. Knowledge on available resources from the onset will enable brands to prepare the appropriate marketing plan as per the budget and use the best available tools and strategies for effective promotion. A fixed budget for social media advertising helps in ensuring the maximum return on investment (ROI) and developing a social media strategy inclusive of goals for various social media channels, organic and paid marketing mix, content and design creation, social media campaigns, and search engine optimization, to build their online presence.

Additionally, social media marketers should invest in efficient software and tools such as social media management platform, project management system, analytics, marketing automation, and content hosting. They also need to build an efficient team that can oversee social media management, strategy and analytics, content creation, community management, and campaigns and promotions. The budget should include the cost of training and education for further skills enhancement as well.

To ensure greater reach, brands need to earmark a budget for paid advertising which includes Search, Display and Retargeting, Mobile, Social, and Lead Generation. Lastly, campaigns and promotions cost money but are highly effective in engaging customers and boosting brand awareness. Planning ahead will be helpful in deciding the number of campaigns per year and their individual budgets to ensure the proper utilization of resources.