Social media has many legitimate marketing uses. When used right, social lets you build a genuine relationship with your customers. It helps you find out what people are saying about your brand and it enables you to share interesting content with your audience. Regardless of whether they’re in B2B or B2C, most businesses today can’t afford not to have a social media presence.
But there’s one thing that social media isn’t great for: lead generation. Social media works effectively for many marketing activities, but generating new leads isn’t one of them. In fact, when it comes to generating leads, the good ol’ email will always beat social media. One 2014 study from management consulting firm McKinsey & Company suggests that email conversion rates are 40 times higher compared to Facebook and Twitter combined. “The rate at which e-mails prompt purchases is not only estimated to be at least three times that of social media, but the average order value is also 17 percent higher,” according to the report.
An understanding of its drawbacks as a lead gen tool is critical to getting the most out of social media marketing. So why is email, a relatively old channel, better suited for generating leads? Here are a few reasons why.