Statistics by Statista show that there is an estimate of 2.7 billion social media users globally. The number keeps rising every other year. For your business to grow, there must be a corresponding increase in your market share. It means that a sharedcount on social media platforms is something that cannot be sidelined: it is detrimental. Initially, social media was all about sharing information with family or friends or sharing photos and videos with virtual communities.
Today, social media is more than just having a good time. Businesses have adopted this popular form of communication to get to their audience. Enterprises have increasingly used the tool to find customers, engage them, make sales and conversions and market their products to mention a few.
Social media offers you limitless opportunity to grow your business to great heights. It does not require any complex procedures for you to get started, what you mostly have to do is create an account, and you are good to go. An in-depth insight into how you can use social media could help you understand why you should have a platform for your business as soon as now. So lets read the full article about benefits of social media for business.
10 Exclusive benefits of social media for business
1. Social media is popular
It is no secret about how popular social media is. Everyone of different demographics is active in one or more social media platforms. What does this mean? No business cannot reap from being on a social media platform, regardless of the niche.
Give Facebook, for instance; it has over 1.7 billion active users on a monthly basis. What are your chances of coming across people who are interested in your product? You have all the possibilities. You should take advantage of the fact that almost everyone is on social media to grow your business.
2. It is cost-effective
Remember that your mission is to grow your business. You only grow your business by maximizing income and minimizing the expenditure. It is where social media wins. Unlike other forms of traditional advertising like having your product published in a daily paper or securing a billboard, social media lets you promote your business without you having to dig too deep into your pockets. Advertising features offered by social media platforms will help you reach more audience at a cheaper cost. Sometimes you will not even have to spend a dime!
3. Social media allows interactions
If you choose traditional forms of advertising like the use of billboards, you do not get to interact or engage with your customers or audience. Why is customer interaction significant? By communicating with them, you get to know what their interests are and get feedback. Understanding your customers more will help you refine your business to their liking. Feedback will also help you identify gaps and available opportunities to grow your business.
4. Customer support
With a TV advertisement, you will not be able to address any concerns coming from your customers. If customers feel that they cannot possibly get help for their problems, they will withdraw and work with your competitors. Social media platforms will not let your audience concerns go unnoticed. You will, in turn, be able to solve their issues and leave them satisfied, this will make your business reliable, and you will be able to retain your customers.
5. Social media will let your business to get out there
There is no better way of creating brand awareness than using social media. Research revealed by Oxford Saїd and Kantar Millward Brown shows that social media is the most useful tool in building a long term brand awareness.
You know how the slogan goes:’ tell a friend to tell a friend.’ There are so many metrics like shares, likes, and hashtags that will bring exposure to your brand. It is also easier for customers you have worked with before to have their followers and friends also looking for you.
6. Users are active
How many times do you check your Instagram account in a day? You cannot probably keep count. The fact that social media users are very active is good for your business. According to a report by Informate Mobile Intelligence, social media users check their accounts an average of 17 times in a day. Look at it this way, a customer may only get to visit your shop once in a fortnight, but can be able to see your new arrivals 17 times a day! It increases the number of sales or conversions you get in a day.
It is a societal consumer behavior to do some research on a product before they get to purchase it. What happens if the potential customer does not get any information about your brand on social media? They may be a bit reluctant in buying your product. It is where social media comes into play. Social media platforms do not have any limitations on the information you can share about your business: not even the number of times you decide to post it.
The fact that you can share a lot is right for your business, as consumers do research, they get to know all about the products you offer: apart from the one that took them there in the first place. This translates to more leads. They also get to know about your offers and upcoming events.
8. Email marketing
There is so much that E-mail marketing can do for your SEO. Combined with social media, you will get the ranking that your business needs. Sharing your newsletters will expose your content to new and more audience, hence driving more traffic to your sites.
9. Collaborate with influencers
Social media allows you for partnering with influencers who play a significant role in building your brand and credibility in the eyes of your customers, which will boost your sales.
10. Watch your competition
Social media does not give restrictions on who visits your page. Remember that you should watch your competition like a hawk. There is no better place to do it as comfortably as you can on their Facebook page or Twitter handle. You will learn so much that you can use to grow your business and also to spot opportunities that you can harness for your brand to build.