The question here is, what are the benefits of using social media for business? There are 4.33 billion social media users around the world as of April 2021, this is about 55% of total world population (Datareport, 2021).
Latest statistics show that 9 in 10 internet users globally use social media each month. This is a good indicator that there is so much potential in meeting potential clients on social media since most people are turning to the internet to interact with brands (Chahar, 2019).
Although social media is not the ultimate answer to your business goals, no business should ignore the power of social media use in the current age. Below are some reasons why you should use social media for your business.
Benefits Of Social Media For Businesses
1. Increase Brand Awareness
55% of the global population are on social media, making the platforms the perfect place to reach new potential customers for businesses. Whenever you post on your social media page all those who follow you or like your profile will see the post.
The most important thing to note here is that you need to share something that resonate with your audience. Something that is interesting, reason being you want them to engage with the content.
One of the most important engagement metrics is a share or retweet, it’s more of a promotion since the person who shares is introducing you to their followers. Social media is also beneficial because the campaigns. Social media marketing campaigns can get your business in front of a completely new audience.
According to (Brandwatch, 2019), there are over 25 million brand accounts on Instagram and 60% of Instagram users discover new products on the platform. So, by simply being on social media, you increase the chances of meeting new customers and strengthening your relations with existing ones.
2. Build Stronger Relationships With Your Customers
Social media offers your business a chance to connect with customers and top fans. According to PewResearch Center (2018), most social media users specifically on Facebook, Snapchat and Instagram visit social media multiple times a day.
So, as long as your social media content is entertaining and informative you will be able to engage with your customers and fans on a daily basis. Seeing you everyday will ensure they remember your brand always and anytime they want to purchase a product in your line of business you will be the first option. This will help you build stronger relationships with your audience.
3. Reputation Management
In the social media world, one negative comment can hurt a business greatly. This is even worse when a user with many followers says something negative about your business and you are not on social media to defend yourself.
You should know that just because you are not on social media doesn’t mean customers will not mention you and give reviews about your business.
Consequently, every business needs social media reputation management team to listen and respond accordingly. Social media offers you a platform to respond almost immediately to your customers through social listening.
Ensure you are able to respond on any comments or mentions either positive or negative to maintain a good image of your business. According to Kapadia (2018), 88% of consumers trust social recommendations by other social media users. You have a lot to gain being on social media.
4. Humanize Your Brand
Most businesses treat their target audience like robots programmed to absorb generic marketing messages and offers without knowledge. Every business ought to understand that they are dealing with humans and this means they have to sound human.
If you can’t connect with your audience, they won’t be able to connect with you in return. Customers or social media users connect, share, engage, and inspire each other on social media and this is something most businesses are not able to do.
This can be corrected by humanizing your brand. Your business can create a real human connection by using videos to capture and retain attention, taking followers behind the scenes to see the team behind the brand and through sharing of humorous content.
5. Cut Marketing Cost
Social media has a global reach and offers an inexpensive advertising plan compared to other marketing channels. Social media platforms are free to use and by having a perfect social media posting strategy you can increase your presence on these platforms easily.
The platforms will give you exposure and by running inexpensive ads you can geotarget your audience and increase sales. The good thing is that socialmedia platforms like Facebook has made advertising very easy for brands to reach the right audience and track the performance of their ads.
6. Keep Track of Your Competitors
Social media offers you achance to know every move your competitors make. By being on social media, you get to see what your competitors are doing on a daily. Maybe you have never heard about it, but there is something known as social media stalking.
You need to visit your competitors' social media regularly to keep track of what they are doing that is working and what is not working. There are social media tools like Dashboard180 created to help you track your competitor’s social media activity like when they post new content, whenever they get a new follow or to see their best performing posts.
With this knowledge you can make more informed decisions and improve your strategies to stay ahead of competition.
7. Increase Website Traffic
Starting with your social media profile you can be able to drive more traffic to your website. For instance, every social media bio should have a call to action requesting followers and visitors to visit your website to do something like buy or to get a quote.
Also, social media posts can have call to actions (CTA) prompting your audience to visit your website to see your products, read your blogs or join your team. You can also join and take part in social chats to interact with your audience, showcase your expertise, increase your visibility, and drive traffic to your website.
According to (Shewan, 2020), using social media to promote your content is one of the best ways to increase traffic to yourwebsite.
Social media has endless growth opportunities for any type and size of business. You can easily reachyour goals as a business without having to spend a lot of money to reach your target audience since social media offers a ready market for all businesses. It's time to make that social media plan now and reach your target audience. Remember that C180 is always ready to assist with your social media needs.
Brandwatch. (2019, January 19). 50 incredible Instagram statistics you need to know. https://www.brandwatch.com/blog/instagram-stats/
Chahar, A. (2019, August 10). How social media impacts SEO - Complete guide. ShoutMeLoud. https://www.shoutmeloud.com/how-social-media-impacts-seo-complete-guide.html
DataReportal. (2021). Global Social Media Stats. DataReportal – Global Digital Insights. https://datareportal.com/social-media-users
Kapadia, A. (2018, December 20). 40+ word-of-Mouth marketing statistics that you should know. Business 2Community. https://www.business2community.com/marketing/40-word-of-mouth-marketing-statistics-that-you-should-know-02151673
Shewan, D. (2020, July 21). 25 waysto increase traffic to your website. WordStream: Online Advertising MadeEasy. https://www.wordstream.com/blog/ws/2014/08/14/increase-traffic-to-my-website
Smith, A., & Anderson, M. (2018,March 1). Social media use 2018: Demographics and statistics. PewResearch Center: Internet, Science & Tech. https://www.pewresearch.org/internet/2018/03/01/social-media-use-in-2018/