Social media has evolved from a space for personal interaction into a vibrant marketing channel for businesses of all sizes – in fact, it’s become a requisite for most business in order to compete in the modern marketplace. To some entrepreneurs, social media marketing is the “next big thing,” a temporary yet powerful fad that must be taken advantage of while it’s still in the spotlight. To others, it’s a buzzword with no practical advantages and a steep, complicated learning curve.
There are over 3 billion internet users—and over 2 billion of them have active social media accounts. Popular social platforms have become marketing giants, offering businesses valuable data about their customers and a (mostly) free way to reach them. This demonstrates a huge potential for social media marketing to increase sales, but a lack of understanding on how to achieve those results. Here’s a look at just some of the ways social media marketing can improve your business:
1. Increased Brand Recognition : Every opportunity you have to syndicate your content and increase your visibility is valuable. When you have a presence on social media, you make it easier for your customers to find and connect with you. And by connecting with your customers on social, you’re more likely to increase customer retention and brand loyalty. For example, a frequent Twitter user could hear about your company for the first time only after stumbling upon it in a news feed. Or, an otherwise apathetic customer might become better acquainted with your brand after seeing your presence on multiple networks.
2.Improved brand loyalty:One of the main goals of almost all businesses is developing a loyal customer base. Considering that customer satisfaction and brand loyalty typically go hand in hand, it is important to regularly engage with consumers and begin developing a bond with them. Social media is not just limited to introducing your brand’s products and promotional campaigns. Customers see these platforms as a service channel where they can communicate directly with the business.
3.Increased Inbound Traffic:Without social media, your inbound traffic is limited to people already familiar with your brand and individuals searching for keywords you currently rank for. Every social media profile you add is another path leading back to your site, and every piece of content you syndicate on those profiles is another opportunity for a new visitor. The more quality content you syndicate on social media, the more inbound traffic you’ll generate, and more traffic means more leads and more conversions.
4.Cost-Effective: Small businesses are always looking for low-cost marketing efforts, and social media fits the bill. Social media marketing is possibly the most cost-efficient part of an advertising strategy. Signing up and creating a profile is free for almost all social networking platforms, and any paid promotions you decide to invest in are a relatively low cost compared to other marketing tactics. Being cost-effective is such an advantage because you can see a greater return on investment and retain a bigger budget for other marketing and business expenses.
5. Share content faster and easier: In the past, marketers faced the challenge of ensuring their content reached customers in the shortest possible time. With the help of social media, specifically when it comes to sharing content about your business or for content curation, all you need to do is share it on your brand’s social network accounts.
6. Run targeted ads with real-time results: Social ads are an inexpensive way to promote your business and distribute content. They also offer powerful targeting options so that you can reach the right audience. For example, if you run an ad campaign on LinkedIn, you can segment by things like location, company, job title, gender, and age—the list goes on. If you’re running a Facebook ad, you can target based on location, demographics, interests, behaviours, and connections. You can track and measure the performance of your social ads in real time.
7.Increase website traffic and search ranking: One of the biggest benefits of social media for business is using it to increase your website traffic. Not only does social media help you direct people to your website, but the more social media shares you receive, the higher your search ranking will be. Google and other search engines may be calculating their rankings using social media presence as a significant factor, because of the fact that strong brands almost always use social media.
8.Find out what your competitors are doing: It’s always important to keep an eye on competitors—they can provide valuable data for keyword research and other social media marketing insight. With social media monitoring you can gain key information about your competitors. This kind of intel will allow you to make strategic business decisions to stay ahead of them. Based on your search results, you can improve your business to offer product enhancements, service, or content that they may be missing. For example, If your competitors are using a certain social media marketing channel or technique that seems to be working for them, considering doing the same thing, but do it better!
9.Richer Customer Experiences:Social media, at its core, is a communication channel like email or phone calls. Every customer interaction you have on social media is an opportunity to publicly demonstrate your customer service level and enrich your relationship with your customers. For example, if a customer complains about your product on Twitter, you can immediately address the comment, apologise publicly, and take action to make it right. Or, if a customer compliments you, you can thank them and recommend additional products. It’s a personal experience that lets customers know you care about them.
10.Improved Customer Insights:Social media also gives you an opportunity to gain valuable information about what your customers are interested in and how they behave, via social listening. For example, you can monitor user comments to see what people think of your business directly. You can segment your content syndication lists based on topic and see which types of content generate the most interest—and then produce more of that type of content. You can measure conversions based on different promotions posted on various social media channels and eventually find a perfect combination to generate revenue.
All of these points and data show that social media marketing is a huge benefit for business owners. Social media marketing, when done right, can lead to more customers, more traffic, and more conversions, and it’s here to stay. Besides increasing brand awareness and establishing the legitimacy of the brand, social media marketing can affect the bottom line of a business by increasing sales.
There are virtually no reasons not to implement social media into your marketing strategy. Since it is so cost-effective, there is hardly anything to lose. Your competition is most likely already on social media, so don’t let them take your potential customers. The sooner you start, the sooner you’ll see growth in your business.
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