5 Benefits of Social Media for Businesses
Is social media necessary for my business? How does engaging in the various social media platforms reflect on a business’s return on investment (ROI)? You probably landed on this page due to these questions (or their variations), and we’ll leave with an informed answer on the 5 game-changing benefits of social media for businesses.
As with all make or break decisions, it’s vital to assess the pros and cons of social media for your business. So why are some businesses reluctant to enforce a social media strategy? Possible reasons include:
- Establishing a social media presence is time-consuming
- Mapping a direct link to ROI is difficult
- So many social media networks to choose from
- The social media space is crowded and highly competitive
- Skills and ever-changing algorithms
But to justify why you need to invest in social media, we have highlighted 5 benefits that should convince every ‘doubting Thomas’ out there. Besides, you can always hire a social media marketing agency to devise effective strategies and social media campaigns. Check out the Top PPC Agencies to learn more.
Budget Friendly
We had to start with the monetary benefits, and rightfully so – the fundamental goal of a business is to make profits. Social media marketing is arguably cheaper and more effective than convention media. Sparing an hour every day to develop social media content is enough to generate noticeable traffic. And even when you enroll in paid advertising through Twitter, Facebook, or hiring a social media agency, the costs are still relatively cheaper.
Brand Recognition
Social media simultaneously makes you recognizable and familiar to existing customers and makes you more accessible to potential customers. Pew Research Center claims that a majority of people log into their social media accounts multiple times in a day. With over 3 billion active users in the various social media networks, it’s borderline ignorant not to tap into this marketing goldmine and improve your brand visibility.
Improved Consumer Experiences
The core purpose of social media is communication. Businesses can leverage this fact to humanize their marketing presence. We all like to ask questions about products or services and receive a clear, caring, and considerate response in return. Businesses can use social media platforms to demonstrate their level of customer service and build relationships. But remember, always respond quickly, thank your followers, and apologize when necessary.
Higher Conversions
According to an article on Forbes, 78% of salespeople use social media to gain the upper hand and outsell their peers. Are you wondering how? Social media has a humanizing effect, and people like to buy from ‘people’ they can identify with. Additionally, people often tend to share a lot on their social media profiles. And if you know what to look for, there is a lot of data on your target customers that can be game-changing. When you know what your consumers are looking for, you can tailor your social media strategy to address their needs.
Brand Loyalty
A recent study showed that brands garner more followers than celebrities. Moreover, 8 out of every 10 Instagram users follow a business (might as well be your business). This point goes without saying; if consumers follow you, and you make them happy, they will choose your products over the competition. This was the finding of a study by the Texas Tech University whereby they concluded that brands that engage on social media enjoy a significantly higher customer loyalty.
Bottom Line
Social media is nowadays a significant part of our society – we live and breathe it! In short, if you don’t have a social media campaign running already, you better contact a social media agency to avoid missing out one of the fastest, cheap, and effective ways to reach millions of potential customers. Check out the DesignRush OR Creative Agencies to learn more.
Request a complimentary Social Media Audit to improve your company’s social media presence. See what you’re doing right, wrong, and how to gain loyal fans, free!
