10 Ways Your Business Benefits From Social Media
by Bdaily Digital Marketing Team
Social media has encompassed, engulfed and entertained people internationally for the last decade. The likes of Facebook, Twitter and Youtube have dominated the social world and have a large share of the 2.3 billion people who are actively using the various forms of social media.
For shrewd businesses the existence of social media has projected them to the forefront of their industries, whilst other, let’s say, less-adaptive businesses have watched as their rivals overtook them. At first, many said it will just be a phase - fluttering out into non-existence after a couple of years.
But a decade later, businesses have now realised that if they don’t jump into the social media bubble, they will burst and splatter by the wayside.
The vast amount of people social media has consumed makes it the hottest marketing space for businesses and brands alike, in which they can flaunt their content and effectively capture people’s attention.
If done right, the benefits of social media are astounding and can catapult your business to higher levels in a number of ways.
1. Increase brand awareness
The goldmine that is social media gives brands the opportunity to spread awareness effectively and efficiently. The more social networks you are on, the more channels open for you to spread the word and the more accessible you are to the wider customer base. Without maintaining an online presence, your brand could miss out on thousands of potential customers and brand loyalists.
2. Excellent paid advertising options
The elite social networks (Facebook and Twitter) have some seriously impressive advertising functionalities that arguably rival Google Adwords. These social giants give you the ability to target consumers so accurately and elaborately, allowing you to hone in on consumers based on age, gender, interests, job, relationship status and much more.
With organic traffic becoming harder and harder to get (even for top brands, organic reach is less than 2% on Facebook), it has become increasingly important to utilise paid marketing, and thankfully, Facebook and Twitter provide excellent advertising options that you must take advantage of.
3. Increase conversion rates
Social media allows brands to become friendly and compassionate with their audience. After all, people love being able to resonate with brands and social media provides the perfect opportunity to connect with your audience on a personal level.
Because of this, conversion rates increase. Maybe not straight away, but after developing a positive relationship with your brand through social media, in a few weeks, or a few months the customer may be ready to buy from you. Social media creates a flywheel for your marketing, despite the fact the benefits may be intangible for a period of time.
4. The unrivalled customer service
One of the many demands customers have developed in the past decade is the need for an instant reply regarding complaints and queries.
Due to the conversational nature of social media, it’s vital that your team are on hand to reply and respond to questions about your brand. In fact, 53% of people who tweet at a brand expect a response within one hour. That figure rises to 72% for those with a complaint. So it’s quite clear what sort of service people expect, but if you can be on hand to engage with these questions, it does the world of good to your brand - for instance, check out these examples of fantastic customer service.
5. The ease of uploading multimedia
As we’ve previously discussed in this blog the importance of multimedia is more prominent than ever, and social media creates the perfect platform for you to show off your fantastic pictures, videos, gifs etc.
In particular, platforms like Instagram, Youtube and Facebook propel the ease at which videos can be played and shared, giving you opportunities to go viral, and gather audiences.
6. Relatively low cost
As we’ve mentioned earlier, organic results are becoming rarer and rarer, forcing you to spend on advertising. However, the cost of advertising is still considerably lower compared to more traditional outbound marketing methods like TV adverts, billboard adverts etc.
And that’s only if we’re talking about the cost of advertising. Everything else (except, of course, the hours spent manning the social media accounts) is free, which leaves endless possibilities for you and your team to go social media crazy.
7. Acquire customer insights
Scattered throughout the 2.3 billion active social media users is a wealth of extremely useful data. This is data that, if studied correctly, can be used to your business’s advantage. By listening to what your audience want, and through the engagements they make with your brand, you can make some startling discoveries.
Discoveries such as: what content is working, how consumers react to your material, what products they like, what demographic your audience is. All these statistics make social media one big pot of delicious data.
8. Competitor research
Not only can you acquire customer insights, you can gain valuable information about what your competitors are doing. It’s healthy to keep an eye on what your competitors are doing, and you can see what sort of products, services and content they provide with great aid. As the old saying goes - keep your friends close and your enemies closer.
9. Increase website traffic
The better the content you post on social media, the more traffic you will direct to your website. If you’ve posted a great blog with an enticing headline, the next thing you’re likely to see is an influx in click through rates for that post. Likewise, if you post an alluring product post, it’s likely going to send people through to your website because they want to find out more.
This is the beauty of social media. It attracts people to your website who otherwise wouldn’t have been aware of you.
10. Simplicity at its best
Facebook adds 500,000 new users every single day. That’s 6 new profiles every second. This will include a mixture of old people, young people, male, female - the list is endles. Not only is social media a fantastic social tool, it is also extremely easy to grasp. To be successful on social media it simply takes a little bit of imagination and an ability to provide relevant, branded content.
Obviously to master the social media game, it takes a little bit more nous - publishing expertly conceived adverts, analysing and picking apart data and providing the perfect content that adds value to your audience.
But social media is something that even at its fundamentals, can move your business up a notch. It’s certainly something worth trying to become an expert in - because this social media craze is not dying down anytime soon.