Before we tell you the benefits of using social media for business, here are a few facts you should know:
- Approximately, 3 billion people across the globe are actively using social media
- These people use it to engage with brands
- More people follow brands on social media than follow celebrities
- Only on Instagram, 80% of users follow at least one brand
Social media is now a substantial part of every marketing strategy. The medium has become the critical element for success in marketing, and many marketers realize the potential for business growth by leveraging on such platforms.
Ironically, there are still many businesses on the fence about using the medium. And marketers of such enterprises are busy writing proposals to their seniors to convince them about the usefulness of social media marketing for the brand.
Here are the top 9 reasons for businesses to use social media:
1. Increase brand awareness
The fact that all most everyone around us is on social media makes these platforms a natural place to reach new and highly targeted potential customers. There is a myth that people follow only the brands they already know. Well, the statistics say something else. It says, 60% of Instagram users discover new products on the platform.
2. Humanize your brand
Trinity Mirror Solutions conducted a study in the UK and found that most of the adults trust a brand only based on real-world proof of it keeping its promises. To connect with your customers and potential customers, it is essential that you show the brand’s human side.
As a marketer, asking below questions can help you to amplify your marketing campaigns:
Do you have brand values? How are you embracing it?
Are you looking out for the customers and employees’ best interest?
Creating real human connections with your audience is one of the key benefits of using social media for business.
3. Stay on top of mind
No matter on which platform they are active on, most of them log in to their social media account at least once every day. And many check their feeds multiple times. So, it means that you have the opportunity to connect with your followers, fans, customers and potential customers every time they log in. All you have to do is keep your content entertaining, informative and engaging. This will give you an edge in the otherwise cluttered space.
4. Increase website traffic
Businesses are using social media not just for daily postings and engagements with their followers. It is also being used for advertising. There are different advertising options available on every platform like lead generation, likes campaign, boost post, website visits and more. So, sharing a new blog of your website on social media and boosting it is an excellent way to promote your website. Participating in social chats are also an effective way to increase your visibility, showcase your expertise, get attention from new people and drive traffic to your website. Just make sure that you are adding value to the conversations and not busy promoting your brand.
5. Partner with influencers
20% to 50% of purchasing decisions are driven by word of mouth publicity. People talking about the product, service or company on social media means brand awareness and credibility for your brand is built. So, get yourself up for more sales. To draw attention to the brand, marketers partner with influencers. It has been proven an effective way of marketing, and there are companies which help you get to the right influencer’s profile for your brand.
6. Reputation management
Conversations happen on social media, and it may be about your brand. It is essential for you to be a part of it, respond to the positive ones and address the negatives before it turns into a major issue. If you have found something falsely written about your brand, do share your side of the story making sure that you are polite and professional. Respond your praise singers with plenty of thanks and draw the attention of others towards it.
7. Crisis Management
Do you remember the hashtag #BoycottStarbucks going viral and being used over 1 lakh times in just three days? Starbucks responded quickly to the crisis:
The brand further tweeted about closing all the stores for a day of racial-bias training. If Starbucks had not responded and taken steps quickly, the damage certainly would have been worse.
So, depending on the size of the company, it is vital to have a plan to tackle such situations. Remember, silence never helps.
8. Learn about your customers
Have you ever taken a trip to the insights or analytics tab on your social media page? If not, then you are missing out on a massive amount of data that every platform generates about your customers in real time. The data can be used smartly to make business decisions based on customers’ demographic information. It can help you modify your strategy to communicate effectively to your real audience.
9. Keep an eye on the competition
“Keep your friends close and your enemies closer.”
As much as it is essential for you to follow conversations about yourself, knowing what people are saying about your competitors is critical to work on strategies for your brand. Tracking them can reveal your competitors’ flaws and address the same to win new customers.
That’s not it! Using social media platforms for your business has a lot of other direct and indirect advantages which you can only realize after being there. So, the companies with their accounts or pages on social media should utilize the platform to the fullest. And the ones who are not there, it is high time you create your profile and post some engaging content to start getting followers. With the right social media strategy and regularly updating it can lead to better SEO, increased website traffic, improved brand loyalty, higher conversion rates and much more. The sooner you start, the better it would be for your growth in business.
To understand more on this topic, please read this: SOCIAL MEDIA MARKETING STRATEGY – TIPS TO CREATE EFFECTIVE BUSINESS PLANS