If you’re wondering whether or not you should invest time in social media, consider this–more than 3 billion people around the world now use social media each month. And this is not limited to connecting with friends and family–80% of users follow at least one business and 60% use it to discover products on Instagram.
If you’re not taking advantage of this, you’re missing out on an effective and fast way to reach your target audience. There are multiple ways in which social media can add value to your business’ marketing objectives. Listed below are 10 of them.
1. It helps increase brand awareness
With nearly half the world’s population actively using social media, it is the perfect place to reach out to new and highly targeted potential customers. People are discovering new products and brands on social platforms every day—through their friends and correctly targeted brand campaigns.
2. It helps with lead generation
Lead generation is such an important goal for businesses that most social networks offer advertising formats that are specifically designed to achieve this goal. Social media is a low-commitment and simple way for potential customers to express an interest in what you’re offering and give you their business.
3. It helps spread the good word through influencers
People believe people. Word of mouth has shown to drive 20 to 50 percent of purchasing decisions. When you get people with a significant following talking about your brand, it adds to your credibility, increases awareness and sets you up for increased sales. Partnering with influencers with a large social following is an effective way to drive social word of mouth.
4. It helps to humanize your brand
Social media gives you an opportunity to truly connect with your current and potential customers by showing your brand’s human side. Do you have brand values? How are you embracing those values? What are you doing to look out for your customer’s and employee’s best interest? Is your product truly adding any value?
- The more efficiently you answer these questions, the better you’ll connect with your users on a human level. This is one of the key benefits of social media. Show your followers your office space, introduce them to your employees and people who are benefiting from your products/service.
5. It helps you to stay on top of the mind
Most active social media users log in to their accounts at least once a day (most check their social profile multiple times a day). Social media gives you the opportunity to cash in on this and connect with them every time they log in. By sharing relevant, informative and entertaining content, you’ll keep your followers engaged, keeping you top of the mind so that you’re the first choice when they decide to make a purchase.
6. It helps increases website traffic
Sharing quality content on social media is key to driving traffic to your website. Sharing links from your website or blog on your social channels is one of the fastest ways to get users to visit that post. You can make this even more engaging by branding the links you share on your social posts. For example, instead of going for a generic short link such as https://bit.ly/2U6IxX1, you can brand this link in a way that tells your users what to expect when they click on it such as radix.press/brandedlinks.
You can use new domain extensions such as .TECH, .STORE, .PRESS, .SITE, .FUN, .SPACE, etc. for creating your own custom branded links. Most URL shortening services allow using custom domain names.
7. It helps with reputation management
Your customers are sharing their opinions about your brand on social channels, whether you pay attention to it or not. By having a strong social listening team in place, you can always pick up important conversations around your brand to highlight the positive and address the negative before they become a big issue.
Is someone sharing stories about your brand in a bad light? Be sure to address that in a polite, professional way. Someone singing praises of you? Graciously thank them and draw attention to their kind words.
8. It helps with customer service/support
More and more customers expect brands to be present on social media for an immediate dialogue when they need support. Research published in Harvard Business Review says that brands who don’t meet these expectations damage their reputation in the long run.
The HBR research, that focused mainly on tweets, further pointed out that customers who received a response to their tweet were willing to spend more with the brand on a later purchase, especially if they got a response within five minutes.
9. It helps you get customers with retargeting
Close to 70% of online shopping carts are abandoned.
People who have abandoned these carts are potential customers—one’s that need immediate attention. They found your website, saw your products, showed interest and had almost made a decision. For someone who has expresses this degree of interest in your product/service should be treated as a priority.
Tracking tools such as Facebook Pixel help identify these customers and show them ads of the exact products they put in their cart or showed interest in. This is a wonderful way to stay on top of their mind and convert a potential customer into a regular one.
10. It helps to know your customers better
Social media is generating a huge amount of real-time data about your customers for you to better get to know them. Information such as this can help businesses make better decisions.
All the major social media networks provide demographic information about the people interacting with your brand in their analytics. This gives you an idea where your audience is and helps you better communicate with them. It’s a gold mine to learn about your customers and social followers to better serve them so that they can serve you.
There is no reason for a business, small or big, to not be on social media. It the holy grail to know your users and talk to them in a way they resonate with. The more active you are, better the customer-relations you’ll build, and this will give your business the awareness and sales numbers in the long run.