Benefits of Social Media For Businesses
Social media is a phrase we throw around a lot these days. Often to describe what we post on apps and websites like Facebook, Instagram, Twitter, Snapchat, and others. So you can infer that social media are web-based sites that allow you to interact with each other.
Some of you have a restricted view of social media and often equate it to mean the same as social networking like Facebook, Twitter, etc.
So let us dive deeper into the concept to gain a better understanding.
What is Social Media?
Social media is any digital tool that allows users to quickly create and share content with the public. The social platform encompasses a wide range of apps and websites. Some, like Twitter, specialize in sharing links and short written messages. On the other hand, sites like Instagram and TikTok are built to optimize the sharing of videos and photos.
In simple terms, social media is online communication that allows you to interact with your customers and share information in real time. This can help companies to reach out to their customers better, create online networks and sell and promote their products and services. It can be easy to get carried away when using social platform for your business.
Social platform is unique, it is very broad and relatively uncensored. While most social media companies impose some limitations. For example, you cannot upload images that display violence or nudity. There are also a bunch of limitations on what someone can share in the world news like in newspapers, radio stations, and television channels.
If you have internet access, you can sign up for a social media account. You can use that account to share whatever content you choose to, and the content you share will reach anyone who visits your page or profile. Yes, social media is that easy.
Social Media for Brand Building
What are the key benefits of using social media for business? Consider that today there are more than 3 billion users using social networks across the globe. These people are only using social media to engage with brands.
A marketing company found that more people follow brands more on social platform than they follow celebrities. On Instagram alone, 80 percent of users follow at least one business. Are these figures interesting? If you are not taking advantage of social media you are missing out on an inexpensive, fast, convenient and effective way to reach almost half the world’s population.
With more than half of the world’s population using social platforms, they automatically have an advantage of reaching new and highly targeted potential customers. Think that people only connect with brands they already know on social platform? Do you believe that 60 percent of Instagram users say they discover new products on the platform?
Facts That Highlight the Importance of Social Media
These are some of the facts that highlight the importance of social media.
1 Today social media is easily accessible. In fact it is also the meeting point of today’s internet savvy audience.
2 Major portion of the younger generation, teenagers and middle aged people, are the active users on most of the social platforms.
3 For business owners these social platform opens possibilities of direct access to clients without any third party intervention.
4 Advertising through social platform is affordable as compared to costs incurred by TV, print or other traditional media.
5 Social platform also helps in search engine optimization. It also helps in increasing rankings of any company websites.
These characteristics are very important for any business in today’s world. Your engagement of clients reach a different level altogether when you use these mediums.
Benefits of Social Media for Growth
Social media platforms offer a good platform for your business to grow. It is truly a growth tool that allows you to learn more about your target audience.
1 Increase website traffic
Social media ads and posts are a great way to traffic to your website. If you share great content from your blog or website to your social channels – it is a good way to get readers as soon as you publish a new blog post.
Participating in social chats on Twitter or other channels can also be a great way to increase your visibility. You can get attention from new people, showcase your expertise and also drive traffic to your website.
Rather than being too promotional on the chats, you need to offer great value to attract people. Just make sure your website address is included in all of your social media profiles. So that someone who wants to learn more about you can do so with just one easy click. Even better, you can use a pinned post to highlight a landing page on your website that is relevant to the chat.
2 Generate leads
Social media offers an easy and simple way for potential customers to express interest in your business and your products. Lead generation through social platform for businesses is an important benefit. So many social networks offer advertising formats which are specifically designed to collect leads.
For example, Renault Europe used Facebook lead ads specially designed for people who are interested in learning more about a new model. One can also book a test drive directly from Facebook, with just a couple of clicks.
3 Boost sales
No matter what you are selling, social platform can help you sell it better. Your social accounts are a critical part of your sales funnel. Sales funnel is the process through which a new contact becomes your customer.
As the number of users using social platform continues to grow, more and more social sales tools will evolve. Social networks will become increasingly important for product search and ecommerce. Hence it is the right time for you to align your social marketing and sales goals using social platform.
For individual sales professionals, social selling is already a critical tool.
4 Partner with influencers
Do you know that word of mouth drives 20 to 50 percent of purchasing decisions. When people talk about your product or company on social platform, you automatically build brand awareness and credibility. As a result your sales increase.
Hence one key way to drive social traffic is to partner with influencers. People who have a large following on social platform and who can draw the attention of followers to your brand.
Benefits of Social Media for Content Creation
Content creation is the key to social media today. When done right, it can actually help your business build a stronger online presence. It can also help companies to reach audiences in large numbers and offer new opportunities for branding.
Social platform involves the creation and sharing of online material like blogs, videos and social platform posts that should not explicitly promote a brand. But should be intended to raise interest in its services and products.
Promoting your content on social channels. It is a great way to provide well-researched content to new people, proving your expertise and growing your audience. For instance, Adobe used LinkedIn Sponsored Content to showcase its researched content which includes infographics and videos.
To maximize the social media for your business benefits, make sure to have a content marketing plan in place. A content marketing plan with defined content strategy is very important. Promoting content becomes easier if creating and distribution is properly planned out as consistent content is the only way to attract and acquire a good viewership.
Benefits of Social Media for Communication
Online communication using social media has brought information to people and audiences that previously could not be reached. In fact it has increased awareness among users.
In simple terms, social media has made communication easier than ever for everyone.
1 Customer and audience engagement
As a business owner, social tools give you the opportunity to interact directly with customers and fans. Also giving them the chance to interact directly with your brand. Unlike traditional media, which offers only one way communication, social platform is basically a two-way communication channel.
If you want your followers and customers to be engaged, you have to be engaged yourself. You have to stay active and respond to questions and comments on your own social platform posts in a way that suits your brand. You can also use social platform monitoring to keep a watch on what people are saying across the social web.
2 Customer service and customer support
In today’s modern world customers expect brands to be available on social platform. And make their social accounts available for customer service. Research published in one of Harvard Business Review showed that brands who do not meet these expectations damage their customer base.
Another research showed that customers who receive a response on their Tweet were willing to spend more with the brand on a later purchase. It holds true for all kinds of brands.
What Does the Future Hold for Social Media?
It is difficult to predict anything exactly. But one thing that can be said about the future of social platform, it will probably be more personalized and less noisy. Filtering out irrelevant information on social platform will become a stronger trend in the future.
Snapchat is a social platform that is truly at the forefront of social platform evolution. Rather than blasting out updates to all friends and followers, you can use Snapchat more when you communicate in real life. Other big social networks like Facebook and Instagram have also taken inspiration from Snapchat and have integrated nearly identical features into their own platforms. Thus allowing users to share quick photos or short videos that are only available to view for 24 hours. So the future of social platform would be quicker and more intimate sharing.