7 Ways social media benefits your business

Social media is still considered a newcomer on the marketing scene, and naturally, most businesses still doubt if it can bring in any tangible benefits for them.

Social media processes are time-consuming, and you have to work harder to cut through the noise and beat your competitors. Also, there are lots of networks to choose from and skills to learn, meaning that you have to invest some resources. That said, it is easy to see why you are still on the fence about utilizing social media. Nonetheless, you are losing out.

The truth is, nearly three billion people are active on social media and a majority use these networks to engage with brands. If you are not using social networks for marketing, you are missing out on a fast, effective, and inexpensive way to reach nearly a half of the global population. Here’s are the top benefits of social media for your business.

Free brand exposure and marketing

Social media can be totally free in terms of ad spend if your business is still not convinced that it should invest there. However, paid ads have a high ROI, and they will help you attain your goals faster.

Business

Some of the tactical approaches that you can use to reach audiences organically include using live events and tailoring messages for each social network. Moreover, you can include a share on Facebook link on your pages to ensure that your content gains more visibility and brings in measurable results that you can use to decide if to invest or not.

It makes your brand the industry leader

Trust is a significant factor when it comes to converting online prospects into customers. When people can search and find information about your business on social media, their trust in your brand increases and they are more likely to do business with you. Moreover, social media offers you the opportunity to be a thought leader in your industry.

If the content you post on social does not revolve around offers and making sales only, you earn peoples’ trust, and they will look up to you to fill any knowledge gaps in your industry. Ensure that you post engaging, helpful, and relevant content every often for your audiences.

Increased website traffic

Social media posts and ads can help to drive traffic to your website. When filling out social media bios, ensure that you include your website in every relevant part of every bio. Also, when you publish new posts on your blog or website, do not forget to share them on social media. In doing so, you will get more organic traffic, which is good for SEO.

You can also boost your website traffic by participating in social chats and offering great value that showcases expertise in the chats. Ensure that you include your website address on your profiles so that people who click your profile from social chats can go to your website for more fully-fleshed out information.

Lead generation

Social media offers an easy and quick way for prospects to express interest in your business. Nearly 75% of the businesses that utilize social media report increased sales annually. Lead generation helps you gain more prospects to whom you can send sales pitches. Leads also grow your traffic and increase your conversion rates. Because lead generation is vital for businesses, many social media platforms offer advertising formats that are specially designed to collect leads.

Increased customer insights

On social media, you can ask your customers to share their questions, ideas, and thoughts about your business. This way, you collect feedback on your products and understand what customers look for when doing business with you. Also, you learn some of the strengths and weaknesses of your business, which helps you know which areas to improve to enhance customer experience.

Competitive analysis

On social media, you can keep an eye on your competitors. What are they doing differently? Which tactics are working for them? You can also target your competition’s fans and win some over. Moreover, you can learn what to improve on or identify ways to stand out in your industry.

Reputation management

Your customers and fans are always talking about you. Whether you are on social media or not, they will share their experiences with your brand on social media. Social media presence gives you and your team an opportunity to pick up on positive and negative posts about your brand. This allows you to address the negative before it becomes an issue or tip into a crisis. When someone says something that is not true about your brand, make sure that you share your side of the story professionally. Do not forget to thank people who post positive things about you.  

Successful social media presence begins with identifying the platforms that your audience is most active on, based on their demographic characteristics. Thus, you do not have to be present in all social media platforms. By joining popular social platforms, you get a free way to reach and engage your audience and valuable data about customers. Besides, you get to hone your brand voice and increase brand awareness and loyalty.