Why Social Media Marketing for Businesses?

In the words of Paul Barron, social media is a tool to use as an idea generator, trend mapper and strategic compass for all of our online business ventures. In today’s era,  2.46 billion people are currently active on social media and it is going to take high in near future. By 2020, it is estimated that the number of users will reach to 2.9 billion. 80% of businesses say that social media is the most important factor in their digital marketing success.

New platforms are being launched everyday. Facebook, Twitter, LinkedIn, SnapChat, Instagram, Pinterest, Google+ —these are some of the big hitters, for now. And they are creating a lot of noise to the marketers. Every single day, these platforms are updating some new techniques and marketers have to be up-to-date for their success.

In order to break through the all of the noise pollution, your business needs to have a solid social media strategy. There is 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 7 important ways social media marketing can improve your business:

i. Increase Brand Recognition: Every opportunity you have to syndicate your content and increase your visibility is valuable. Your social media networks are just new channels for your brand’s voice and content. This is important because it simultaneously makes you easier and more accessible for new customers, and makes you more familiar and recognizable for existing customers.

ii. Improved Brand Loyalty: According to a report published by Texas Tech University, “Companies should take advantage of the tools social media gives them when it comes to connecting with their audience. A strategic and open social media plan could prove influential in morphing consumers into being brand loyal.” It concludes that brand who engage with social media enjoy higher loyalty from their customers.

iii. More Opportunities to Convert: Every post you make on a social media platform is an opportunity for customers to convert. When you build a following, you’ll simultaneously have access to new customers, recent customers, and old customers, and you’ll be able to interact with all of them. Every blog post, image, video, or comment you share is a chance for someone to react, and every reaction could lead to a site visit, and eventually a conversion. Not every interaction with your brand results in a conversion, but every positive interaction increases the likelihood of an eventual conversion.

iv. Higher Brand Authority: When people go to compliment or brag about a product or service, they turn to social media. And when they post your brand name, new audience members will want to follow you for updates. The more people that are talking about you on social media, the more valuable and authoritative your brand will seem to new users.

v. Increased Inbound Traffic: If you compare your inbound traffic without social media, you can realize that 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, which involves another opportunity for a new visitors. The more visitors, the more inbound traffic and more traffic means more conversions.

vi. Decreased Marketing Costs: If you can lend just one hour a day to developing your content and syndication strategy, you could start seeing the results of your efforts. Even paid advertising through Facebook and Twitter is relatively cheap. Start small and you’ll never have to worry about going over budget. Once you get confident, you can increase your budget. But if you will see these budgets are relatively cheap than other marketing strategies.

vii. Richer Customer Experience: 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 instance, if a customer compliments you on social media platform, you can thank them and recommend additional products. Or, if a customer complains about your product on social media, you can immediately address the comment, apologize publicly, and take action to make it right. It gives a personal touch to customers.

The longer you wait, the more you have to lose. Social media marketing, when done right, can lead to more customers, more traffic, and more conversions, and it’s here to stay.  If you’re interested in getting started but aren’t sure where to begin- fill our contact form.

8 thoughts on “Why Social Media Marketing for Businesses?”

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