Benefits of Social Media For Business

Benefits of Social Media For Business

Increase Brand awareness

  • With nearly half of the world’s population using social media platforms, they’re a natural place to reach new and highly targeted potential customers.
  • Think people only connect with brands they already know on social media?
  • Consider that 60% of Instagram users say they discover new products on the platform.

Establish your brand as a thought leader

  • No matter what industry your business is in, social media offers the opportunity to establish your brand as a thought leader-the do-to source for information on topics related to your niche.
  • Like brand advocacy thought leadership is a great way to build consumer trust.

Stay top of mind

  • Most social media users log into their accounts at least once per day, and many people are checking social media multiple times per day.
  • Social media gives you to the opportunity to connect with fans and followers every time they log in.

Increase website traffic

  • Sharing great content from your blog or website to your social channels is a great way to get readers as soon as you publish a new post.
  • Participating in social in be a great way to increase your visibility, get attention from new people, showcase your expertise, and drive traffic your website.

Generate leads

  • Social media offers on easy and low-commitment way for potential customers to express interest in your business and your products.
  • Lead generation is such on important benefit of social media for business that many social networks offer advertising formats specifically designed to collect leads.

Boost sales

  • No matter what you sell, social media can help you sell it. Your social accounts are a critical part of your sales funnel-the process through which a new contact becomes a customers.
  • As the number of people using social media continues to grow and social sales tools evolve, social networks will become increasingly important for product search and e-commerce.

Partner with influencers

  • When you get people talking about your product or company on social media, you build brand awareness and credibility, and set yourself up for more sales.
  • One key way to drive social word of mouth is to partner with influencers-people who have a large following on social media and can draw the attention of that following to your brand

Promote content

  • Promoting your content on social channels is a great way to get your smart, well-researched content in front of new people, proving your expertise and growing your audience.
  • To maximize the social media for business benefits, make sure to have a content marketing plan in place.

Go viral

  • As people start liking, commenting on, and sharing your social post, your content is exposed to new audiences-their friends and followers.
  • Going viral takes this concept one step further. As people share your content with their networks follow suit, your content spreads across the internet, getting thousands or even millions of shares.

Source content

  • Ask your followers what they want, or engage in social listening, to come up with ideas for content you can create yourself.
  • Give people what they’re asking for. It’s a sure way to create content that people will want to read and share.

Reputation management

  • Your customers are already talking about you on social media, whether or not you’re there to respond.
  • If you and your team are on the ball, you can pick up on important social posts about your brand to highlight the positive and address the negative before it turns into a major issue.

Customers and audience engagement

  • Social networks give you the opportunity to interact directly with customers and fans, and likewise give them the chance to interact directly with your brand.
  • If you want customers and followers to be engaged, you have to be engaged yourself.
  • Stay active and respond to comments and questions on your own social media posts in a way that’s appropriate to your brand.

Customer service and customer support

  • People expect brands to be available on social media and seek out their social accounts for customer service.
  • Research shows that customers who receive a response to their message would be willing to spend more with the brand on a later purchase, especially if they get a response within five minutes.

Monitor conversations that are relevant to your brand

  • We mentioned social media monitoring above as an important element of audience engagement.
  • But it’s also important as a key source of intelligence about your brand, your competitors, and your niche.

Learn more about your customers

  • All of the major social networks offer analytics that provide demographic information about the people interacting with your account.
  • This can help you tailor your strategy to better speak to your real audience.

Gauge sentiment around your brand

  • If you getting lets of mentioning with a negative sentiment, you need to do some quick thinking to figure out what’s gone wrong and address the problem.
  • While it’s important to know how much people are talking about your brand online, it’s also important to know how people actually feel about your brand.

Keep an eye on the competition

  • It’s also important to know what people are saying about your competitors.
  • For example, tracking mentions of your competitors might reveal pain points with their products that you could reach out to address, winning new customers in the process.

Stay on top of industry news

  • In the online world, things move fast-and you can’t afford to be left behind.
  • Keeping a virtual ear to the ground through social listening makes sure you’re always informed about upcoming changes to your industry that could affect the way you do business.

Targeted advertising

  • Social ads are an inexpensive way to promote your business and distribute content.
  • They also offer powerful targeting options so you can reach the right audience and make the most of your budget.

Retargeting

  • Nearly 70% of online shopping carts are abandoned. People who have abandoned products in a shopping cart are prime potential customers.
  • Using tracking tools like the Facebook Pixel, you can show these potential customers social media ads for the exact products they have browsed on your website or placed in the shopping cart.

Reporting and analytics

  • With social media tracking and analytics tools, you can see the full impact of your social media activities, from follows to engagements right through to purchases.
  • Tools like Google Analytics and Hoot suite Impact track website traffic generated from social media, conversions, email sign-ups, and ROI for both organic and paid social media campaigns.

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