Your business presence is as important as any other element of your marketing strategy.
No presence on social media?
No way you can reach the level of your competitor who is active on social media platforms! People might not visit the business websites daily, but they habitually visit their social profiles daily, sometimes multiple times a day.
There is a ginormous number of sole proprietorships and small businesses today, which are successfully operating without any website just through social media.
These businesses are putting up their products/services on their social media pages, promoting their work, and successfully getting customers without spending any money on website building and advertisement.
Benefits of Social Media for Your Business
Social media can help a business develop brand image/recognition, boost sales, and increase revenue.
It also comes in handy to interact with your customers and direct traffic to your actual website. In short, you need to use this medium properly, and you can make a visible difference for your business.
Here are some of the benefits any business can reap with its social media presence:
1. Reduce the Cost of Marketing
Either you are a business or an individual, there is no cost to sign-up on social media.
Marketing your brand on these mediums does not require any huge investment, but returns can be greater than traditional marketing with the right strategy.
Not only marketing cost, but you can also reduce the customer service cost by encouraging people to reach you out directly on your page.
Promoting your products via Facebook posts, Tweets, and multiple akin things also don’t cost you a single penny.
2. Direct Reach to your Customers
Social media can be used for customer service without any cost. Besides this, people can comment and review any product or service on its pages.
Positive reviews are a promotion of your business. a business can also use social media as a tool to collect a lot of data. For example, you can ask people whether they are satisfied with your products, what they think about your service, what change they would like to see in your services, etc.
Personalized responses help a business to grow better.
3. Drive Traffic to your Website
Social media help you to direct your target audience directly to your business website. You can use your posts or social media advertisements to get more clicks on the website.
As a business owner or accounts administrator, you should add your website address besides your profile information. Without social media promotion, your traffic is limited to only local social media traffic.
This medium can be your cheapest gateway to the new segments of the consumers.
4. Brand Recognition
Social media can be your best assistant to get in touch with your potential customers.
You can use posts and promotions to aware social media users more about you. More people know your business, more potential customers are there. There are millions of brands offering their services in every niche.
What makes a difference is brand recognition and product awareness among customers.
5. Business Credibility
It might surprise you that a lot of people today use social media to research brands. Sure, a business can work without social media, but this segment might consider your scam services because of no social media footprint.
Using social media for marketing can establish a good reputation as a business and reflect the brand’s credibility.
People are interacting on your posts. You are responding to them, putting up your promotions/products on the page – what can be a better way to show the legitimacy of your business.
6. Getting Customer Feedback Directly
The customer is the boss. A product can be brilliant, but it is a complete failure if it fails to impress your target market.
One of the biggest benefits of social media every business can enjoy is that your customer can directly reach you, get engaged in real conversation, and vice versa.
You can get very valued feedback and data by asking opinions via posts, conducting surveys, and asking opinions directly.
One of the wise business approaches in today’s marketplace is using your social media as a tool for your Business Performance Evaluation.
7. Recruit Talent
You can find talent as per your requirement using social media. In fact, LinkedIn is designed to work as a candidate directory for recruiters and an employers directory for candidates.
It really comes in handy to find the right people for the right job.
There is a lot of diversity on the internet. People from different backgrounds are there. It offers recruiters a perfect cost-efficient opportunity for social recruiting.
8. Getting Industry Influencers Help to Boost Traffic and Sales
An internet marketing and SEO specialist company WebFx researched returns on investment (ROI) for a business on influencers marketing.
They collected a lot of data, and the results are surprising – For every $1 invested in influencer marketing, your business can generate $6.50 in return. This means your ROI can be 650% or more.
Any business getting the help of industry influencers on social media to promote their products reap great benefits. These niche influencers already have your target market as their traffic.
Sending them promotional packages in return for promotional posts, using their help as your affiliates, or simply paying them for their promotion can be a great way to get recognition in your target market, increase revenues, and direct traffic to your blog/website.
If you are a new business or just established your social media pages, there is no better way to gain a following other than influencer marketing.
9. Better Insight of Marketplace and Trends
Social media is the best way to conduct market research without spending a lot of money. It requires some time, but consumers’ behaviors and trends can be tracked in-depth.
Sometimes you do not have to put a lot of effort into social media research. Just analyze your consumers/target market’s recent posts or search the keywords in the research bar, and you will have thousands of posts in a second.
Checking the hashtags related to your industry helps you keep updated with the industry news and your marketplace updates.
10. Keep an Eye on your Competitors
Last but on the least, social media is a great tool to have an insight into what your competitors are up to.
Most businesses are on the internet today. Every business is putting up posts about what are their new products, what are their promotional offers et cetera.
You can also analyze the customers’ reviews on their strategies; you can adapt and integrate the new things in your business that are working for them and avoid which are not.
Competition analysis on social media is an effective way for new businesses to find ways to direct traffic towards their pages and get a competitive advantage over others.
Having an appropriate profile on social media adds up a lot in the good performance of a business.
You can use it to get in touch with your valued customers, promote your brand, develop credibility and awareness of your brand, peak into competitors’ progress, and above all, increase your revenues and direct more traffic to your website without spending a lot of money on marketing.
Businesses can cut marketing costs effectively and efficiently by establishing social media profiles and investing some time and effort into it.
In case your business does not, you are missing a lot of advantages. Instead of you, your competitors might be benefiting from these advantages.