When social media originally became popular, many businesses discounted it as an outlet for the young people to interact. Today, social networks are now a substantial part of every marketing strategy. A survey done at Global Web Index revealed that 30% of all internet users search for products on social media. The study also indicated that 37% of internet users follow their favorite companies or brands on social media. As you can see, the benefits of using social media are so great that anyone not implanting this resource is missing out on an incredible marketing opportunity. Nevertheless, many business owners are unaware of the advantages social media platforms can do for their company. Here are five advantages using social media platforms.
Increasing Brand Awareness
Social media is one of the most cost-efficient digital marketing methods used to combine content and increase your business’ visibility. It’s also a great platform to market your brand to new customers every day instead of reaching the same people with your marketing messages.
To get started, create a social media profile for your business and begin interacting with others. Get employees, business partners, and sponsors to “like” and “share” your page. You reach new prospects every time your followers share your content and this will lead to increased brand awareness and begin building your reputation as a business.
Building Brand Loyalty
It’s safe to say that the main objectives of all businesses are developing a loyal customer base. People like to do business or interact with people and not institutions. Social media gives you and your employees an opportunity to build relationships with your clients and potential clients. Customers also see these platforms as a service channel where they can communicate directly with the business.
Millennials are the largest generation in US history and are becoming known for being the most brand loyal customers of all. Studies show that this segment of customers is 62% more loyal to brands that directly engage with them on social media. Since communication is huge, sharing accurate, relevant, original, and credible content increases your brand authority. Lastly, train your employees to respond to negative comments or complaints with compassion. Your customers need to know that you care about them and are not just selling products.
Higher Conversion Rates
With increased brand awareness and loyalty, your business gains more opportunities for conversion. You build trust with your brand through quality content and continuous interactions with your followers. When brands are interactive by sharing content, commenting, and posting statuses on social media, it personifies a brand.
Studies have also shown that social media has a 100% higher lead-to-close rate than outbound marketing. When your brand is interactive online, consumers who follow your brand’s account often begin to trust the credibility of your business. Placing your brand in an atmosphere where people are sharing, liking, and talking, can only improve the conversion rates of your existing traffic.
Reducing Marketing Costs
Marketing your business on traditional offline platforms is expensive, especially when you want to run several campaigns. With social media, any paid promotions you decide to invest in are a relatively low cost compared to other marketing tactics. With the right strategy, you can spend a few hours every week to reach thousands of customers without incurring any high costs. Being cost-effective is such an advantage because you can see a greater return on investment and retain a bigger budget for other marketing and business expenses.
One of the benefits of having a social media platform is having a voice for your brand. As you build insightful and well-written content, many people will start recognizing your business as a leader in your field. There are many ways of becoming a Brand Leader. Ultimately, it requires work. Be communicative, connect with your audience, share content, and promote your authority. Being able to directly connect with your customers creates a relationship that they will trust and value, allowing you to become a significant influencer in your field.
With 15 years of experience, we believe in empowering companies with the right strategy necessary to succeed. Give us a call today at 904-279-0279 or visit us at Integrated Webworks