Technology is changing rapidly, and it is altering the way we live in society and conduct our businesses.
Around five decades ago, nobody would have thought that they could really sell their products without being physically present or meeting the customers. However, many organizations and companies are conducting their business this way today.
Technology has made it possible for people and organizations to conduct their business online through the internet without being restricted to a certain geographical location. Businesses can reach almost anybody anywhere in the world. Hence, it is vital for them to increase their online presence and reach more people every day, and social media can be a great tool for attaining this target.
It is a well-established fact that people of all ages are spending more and more time on electronic devices like smartphones, tablets and computers, and they are spending a large chunk of this time on social media platforms.
According to the State of Digital Report, there are now 4.2 billion active users on social media, and they spend an average of 2 hours and 25 minutes on social media channels every day. Many users interact with companies and businesses through social media and conduct business with them. If your business does not have a presence on social media platforms, you miss out a lot!
So, in this blog, let’s learn why social media is a great tool for your business.
But, first things first, let us describe what social media is.
What is Social Media?
We can define social media as a cluster of websites and applications that facilitate the creation, exchange and sharing of ideas, expressions, information and other interests. Social media channels focus on community-based input, communication, interactions, collaborations and sharing of content. The types of social media may include social networking, microblogging, forums, social bookmarking, social curation, and wikis.
Most of us use social media today. It helps us in staying in touch with our family, friends and loved ones. It also allows us to participate and communicate with various other communities.
Organizations and businesses use social media to build their brand awareness, promote their products and expand their loyal customer base.
Why is Social Media a Great Tool for your Business?
There are several advantages of social media. However, in this blog post, we will discover how it can benefit a business or a company.
Social media can be an excellent and cost-effective tool to grow and expand businesses. Social media marketing may require innovation, creativity, strategy and can be a little overwhelming. But it is worth the efforts. According to Forbes, 97% of marketers utilize social media tools, and 78% of salespeople outsell their peers using social media.
However, a large chunk of small businesses are not harnessing the benefits of social media marketing, and around 50% of them are not even present on social media channels.
We can see a massive gap in numbers between businesses that use social media and those that do not. Companies that utilize social media tools recognize that it helps them grow their brand awareness, promote their products and services, increase their credibility among customers, and expand their customer base.
16 Benefits of Social Media for your Business
Now, billions of users are using social media networks across the world. It is one of the most inexpensive, fast and effective ways for businesses to reach this vast population number.
Research shows that nowadays, people are following more brands on social media than celebrities. For example, around 80 per cent of users follow at least one business on Instagram.
It has become crucial for companies to increase their presence on social media channels and take advantage of this medium.
So, let’s take a look at these 16 benefits of social media for your business –
- Social Media can help in increasing Brand Awareness
People are more likely to buy products and hire services from brands that they already recognize. Hence, reaching out to more people and gaining brand awareness is a vital marketing target of any business.
With around half the world’s population present on social media, it is an easy and effective channel to build your brand recognition and reach new and targeted potential customers.
Social media has an advantage over traditional methods since it is fast and more people can connect on it easily. Around 60 per cent of users on Instagram acknowledge that they discover new brands and products on this platform.
Note: Try to post visually appealing pictures on social media channels and strategically place your company’s logo to increase your brand awareness.
- Connect with your Audience through Social Media
Social media allows your business to connect with your fans and followers. Engaging regularly with your followers makes them feel that there are real people involved in your brand. And you can reveal the human side of your business and show your brand values through social media.
Connecting with your audience on social media channels can help you easily identify what is important for your followers and what are their concerns and pain points. You can create relevant content targeting their problems and build loyal followership.
- Create Conversations around your Brand and Products
Social media can be an excellent tool to create conversations around your brand, partners and products. Businesses can receive genuine feedback and suggestions about their products and services on social networks.
Note: Engage with your fans and followers through the comment section and naturally create conversations about your brand, products and services. Reply back when someone asks questions about your products on social media messages.
- Best Channel to tell your Business Story
Social media can be a great medium to showcase the aim, vision, and targets of your business and share stories depicting them. Stories, whether extensive or straightforward, can make a good impact on your brand’s image.
Note: Share real stories of your existing customers who are using your products or services. Share their feedback and reveal how your product helped them.
- Establish your Brand as an Authority
Try to establish your brand as an authority. By authority, we mean that your brand stays on the top of the game and is a trusted information source on a topic relevant to your business. You become the thought leader of your niche.
Note: Post true, accurate and relevant content more and more on your social media platforms. When you post better content on the channels, the search engines are more likely to pick up your authority on that particular niche or subject.
- Promote Traffic on your Website
Social media marketing can be a fantastic way to drive traffic and send customers directly to your website.
It is highly unlikely that your website will get all the traffic through search engines. Without using social media marketing, your inbound traffic may restrict to your usual or existing customers. Social media posts and ads can bring more diverse traffic streams. Whenever you share new content from your website on social media channels, you will get new readers instantly.
Note: Social media is a great platform to promote the contents and posts from your website. However, you have to be cautious about what and how often you should post. Usually, overbearing marketers turn off their followers and potential customers by bombarding their social media feeds with content too frequently.
And make sure that you include your website address in all your social media profiles.
- Social Media can assist in Generating New Leads
Social media is an easy and inexpensive way to generate more leads. For most marketers, after brand awareness and engagement, lead generation is the next step. Lead generation helps in finding people who are interested in your brand. Social media is a convenient medium for your potential customers to show interest in your products, services and business.
Note: A social media lead is any information that you can use to follow up with someone. It can include name, email address, occupation, contact number, or other information that a user shares with you.
- Social Media can Boost Sales Number
It has been found that social media is one of the top marketing channels to boost sales. Social media works wonderfully in converting a new user into a potential customer.
As the number of social media users continue to expand and social sales tools evolve, social networks are being utilized increasingly for product search and e-commerce. Around 23 per cent of social media users use social networks to learn about products and services. So, your business has a ton of scope to grow and boost sales through social media.
- Keep your Audience up-to-date
Social media is one of the convenient and straightforward mediums to keep your audience informed and updated about your new products, services, and upcoming events. It can help in creating a buzz about a new product or an event to get people excited.
- Communicate with your Audience and Fans
Social networks provide you with the opportunity to communicate with your fans and audience directly. Unlike traditional media channels that only allows one-way communication, social media offers a two-way street. For your followers and audience to stay engaged, you need to engage yourself.
Note: Stay active on social media, respond to comments and answer questions on your social media posts to communicate with your audience.
- Use Hashtags to Enhance your Reach
Hashtags are a powerful tool to increase your reach to new users. Hashtags are created to connect like-minded people on social media.
Note: Put hashtags on the most effective words.
Remember that using too many hashtags does not mean more engagement, and it can also devalue your message’s strength.
- Influencers Partnering
Since the dawn of time, social word of mouth can significantly influence people’s purchasing decisions. When people talk positively about your brand, products or services on social media, it gives your brand recognition and credibility. And more people wish to connect with your business, which promotes sales.
In recent times, the most effective way to drive word of mouth is through partnering with influencers. Influencers are individuals with large social media following. They can easily draw the attention of their followers towards your brand.
- Social Media can make your content Go Viral
Social media channels are the medium where your content can go viral. When more and more people start to like, comment and share your posts, your content gets exposure to a new audience. Going viral takes it to the next level, and your content proliferates across the internet, acquiring a lot of attention from social media users.
- Social Media can help in Reputation Management and Crisis Communication
People talk both positively and negatively about brands on social media. You and your team should pick up posts about your brand to highlight the positive things and address the issues and negative points before it becomes a significant issue. If someone talks negatively about your brand, you can politely and professionally reveal your side of the story on social networks. It helps in the reputation management of your company.
Businesses can also use social media networks during a crisis to avert it or minimize its consequences. Silence is usually not an option for businesses during a crisis, and social media networks can be an effective medium to respond in such situations. Try to have well managed social accounts and have a strategy or plan in place to help your company get out of such circumstances if the worst happens.
- Customer Service and Support
People now expect brands to be present on social media and handle their requests and queries through this medium since it is easier and more convenient. Research published in the Harvard Business Review revealed that businesses that do not meet these customer expectations receive a major setback.
Excellent customer service and support help the company in building a meaningful relationship between its customers. Social media channels allow brands to interact with their customers instantly and receive immediate feedback.
So, it is essential for businesses to have a social media customer service strategy for better customer service and support.
- Develop Customer Loyalty
Social media channels are a perfect place to build relationships and develop customer loyalty.
Users like to follow and interact with brands that they enjoy. If you want your customers to keep coming back to your brand, you need to connect with them in more meaningful ways. You will need to have one-on-one conversations with them and post interesting content filled with humor, good quality pictures and videos to showcase your brand’s uniqueness and personality.
It has been suggested that around 53 per cent of customers who follow a brand are likely to be loyal to them. And it is a well-known fact that your loyal customers increase your traffic. It concludes our blog post that explains why social media is a great tool for your business and elaborates 16 social media benefits for your business.