Updated: Apr 3, 2020
Whether you are a small local store or a large multi-national company, your company can definitely benefit from your presence on different social media.
1. Almost everyone is on social media!
According to Lyfe Marketing, 59% of people use social media every day, or most of the days and 1 in 3 people check social media more than 5 times in a day!
Social media is a tool where you can promote your business worldwide in a flash! Once your posts go viral, there’s no looking back. With almost half the world’s population being active social media users, social media is one tool that gets you easy access to your target market.
2. Social Media is one of the most economical ways of marketing
Did you know that the cost per thousand impressions on social media is three times lesser than advertising through traditional marketing methods? Irrespective of what your budget is, you will still be able to interact with potential customers and generate leads.
HubSpot says that 84% of marketers were able to increase traffic with a spending just 6 hours of effort on social media per week.
Social media also provides various statistics and metrics that help track success of the ad campaign or make adjustments to the campaign to make it more effective.
3. Brand Awareness
Social media sites are an excellent way of creating awareness about your brand.
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Social media acts as a tool to improve your brand visibility as well as build a brand recognition. With multiple platforms, you are given the opportunity to create a personality for your brand, to create a voice for the brand. You're able to humanize the brand.
By regularly posting interesting and compelling content on your social media profile, businesses can make can make the brand more familiar to potential customers. Suppose a new lead happens to come across one of your posts, and finds your product / service interesting. However, he knows nothing about you. If he is able to go though your social media profile, he will be able to learn more about who you are, what you do, and this will help him build trust in your business.
4. SMM increases website traffic
Social media is one of the easiest ways to drive traffic to your website. When you post intriguing content on your social media, social media users will be curious to know more about your business, and when you post a call to action button, it will in turn drive traffic to your website. Social media is one of the most important drivers of website traffic, and drives over 30% of referral traffic.
Tips to increase social media traffic:
Update your profile to reflect what your business does
Promote your blog posts on social media
Identify the best times to post on social media
5. Improves Customer Satisfaction
Social media gives businesses the opportunity to interact with each and every follower personally. When customers comment on your posts, and the company personalizes its replies rather than sending standardized replies, they feel that the company really cares about them and pays attention to what they say. This one-on-one interaction makes customers more loyal and also increases the chances of them referring friends and family to your business.
6. Significant source of Information about your target audience
One of the most important aspects in driving your business lies in understanding the needs of your existing and potential customers, their purchasing power, consumption habits, way of life, etc. Businesses can make use of social media to gather all this, and even more information about their customers. Analytics and Insights give information on what posts people are more interested in, what is the age group and gender of the users, where they are based out of, etc. Businesses also have the option of creating polls or surveys to gather specific information.
In a nut shell, no matter what business you are in, how big or small your business is, and where it is located, social media marketing will take your business a long way.