Whether you love it or hate it, social media is here to stay for the foreseeable future. What started as a way for young people to communicate through the internet has blown up into an international phenomenon. Now we get our breaking news through social media, share videos and pictures, and even purchase goods and services. This is why it is vital for businesses to embrace social media rather than shun it. According to this study, social media is growing rapidly all over the world from the last few years. See below for 8 reasons why social media is so important for every business.
Improved Brand Awareness
Using social media allows you to target the specific demographics that will ultimately help improve your brand. By interacting with relevant consumers and maintaining a strong identity through social media, you will be doing your brand a favor and will increase your visibility across all important avenues. Social marketing campaigns allow you to reach out to new customers who may be eager to share information about your company and bring new sets of eyes to your products and services. By creating profiles over several different social media platforms, you will surely experience increased brand awareness and find an entirely new audience that you may not have known existed.
Customers are engaging more and more with companies through social media. Social media allows customers to express their gratitude, voice complaints, and communicate easily with their favorite companies. When your organization employs an active social media strategy, you are letting your customers know that you care about them. You may be able to help a customer with a problem simply by responding to a Facebook post. With any luck, multiple people will see your willingness to work with the customer and will gain respect for your brand. Customers who can rely on a strong social media interaction are more likely to report being satisfied with your company.
Social media is one of the most affordable ways for a company to advertise or interact with their customers. Most social media platforms allow you to create a profile for free, so you don’t have to worry about sign-up or activation fees. From here, you can simply run your own campaign, or you can choose to pay for advertising services. Social media advertising is often cheaper than other traditional methods, and you can choose just how intensive you want your advertising campaign to be, allowing you to budget effectively. Because more customers are likely to be converted, you will be spending less money per click when you enact an efficient social marketing campaign.
Increased Conversion Rates
Because you can more effectively target your core audience and reach out to likely customers, your organization will benefit from higher conversion rates. Through social media, you can create a more personalized experience for any potential customer, making them more likely to follow through with purchasing your product or service. Studies have shown that people trust brands who interact through social media and that you are more likely to close leads when you have a strong social marketing strategy. Since many people will hear of your brand through friends thanks to social media, they will also have an increased chance of engaging with your company and becoming a customer.
When your customers are satisfied, they are far more likely to remain loyal to your brand rather than switching over to the competition. This is especially true with millennials, who are considered to be the most brand-loyal customers of any generation. Studies show that millennials are 62% more loyal to brands that communicate directly through social media, so it is quite beneficial to maintain an active profile and reach out to customers on a regular basis. As an added bonus, loyal customers are likely to share information about your products and services through social media, creating an even larger pool of potential customers.
Search Engine Optimization
Any well-run business is aware of the importance of search engine rankings when it comes to being successful in any field. An important part of SEO is the constant creation of accessible, up-to-date content that makes use of target keywords and creates a stir among potential customers. This includes content such as blogs, listicles, videos, photos, and articles. All of these things can be shared on your social media profiles. Linking from here to your website will boost your click numbers and help you ascend in the search engine rankings. The more people who like and share your content, the more visitors you will attract to your website.
Competitor and Industry Analysis
No matter what industry you operate in, there is a good chance that plenty of your competitors are active on social media. By staying engaged with your customers, you can also monitor their activity, learning about what they are interested in outside of your products. This can help give your company a better understanding of your target market and see what items or services you should be developing in order to better serve them. You may also find new competitors through their likes and learn about what they are doing to improve their products. By analyzing the content from your competitors, you will gain better insight into the things that you can do to improve your conversions.
The more interaction you get through social media, the more likely it is that people will visit your website. This opens up a whole new pool of potential customers who may have seen your product on a friend’s profile or advertisement. If you engage with current and potential customers, they will be inclined to visit your pages and see what sort of additional products and services you offer. This increased inbound traffic raises your chances of getting more conversions on any of your clicks. Ultimately, you want your site to be the most-visited part of your web empire, but you can use your social media profiles to drive traffic to your site to make your company more successful.