Social media platforms have grown dramatically over the years with the number of available social networks constantly growing. Popular social platforms like Facebook and Instagram are always adding new features. Understanding how social media helps businesses is important to any business owner.
With a large number of active users, social media has become an integral advertising tool for various industries. However, not everyone realizes that social media is a powerful tool for their business. Read on to find out how social media helps small businesses grow, the different social channels you can use, and the benefits it can bring.
What is social media?
Social media websites are internet-based platforms that allow people to build and maintain long-distance relationships online. Social media is the most important means of communication in the world today. It allows people to easily create and share videos, photos and other user-generated content.
Social media users communicate their ideas, activities, experiences and other information through smartphones, laptops and various gadgets. They participate in various social media activities such as posting positive reviews on online review sites, posting visual content via Instagram Stories, and commenting on blog posts on social media forums.
The role of social media in business
Initially conceptualized as a way to communicate with friends and family, social media started in the early 2000s. Due to its growing popularity, companies have chosen to use this new method of communication to reach customers. Entrepreneurs decided to take advantage of social media’s ability to connect and share information with people around the world.
Why is social media important for businesses?
- Effective in attracting new audiences. According to DataReportal, there are more than 4.62 billion social media users. Successful social media campaigns can reach new audiences with compelling content.
- It shows the qualities of a brand. Social media efforts can be a great way to build trust and loyalty with your customer base. Satisfied customers can leave positive reviews that boost the company’s online reputation.
- It lowers overall marketing costs. Even on a shoestring budget, a business can boost its posts on social media platforms to reach its target consumers by using specific demographics, keywords, and interests.
- It keeps the company relevant. Original, appropriate, and timely social posts keep the company in the minds of current and potential customers.
- It helps generate leads. Frequent posts on various social media sites can pique the interest of potential customers, which translates into future sales.
How Social Media Helps Small Businesses
- Increase brand awareness and interest. Small business owners can advertise their products and services online. Social media can increase the visibility of a small business, expanding the reach of the business. Marketing and advertising campaigns help to reach a wider audience.
- Increases website traffic. An engaging social media post can spark a customer’s interest, leading to shares, likes, and comments on the company page. This also helps businesses gain followers on social media.
- Affordable marketing option. Marketing can be expensive. Small businesses with tight marketing budgets can use social media to expand their customer base without overspending.
What can social media do for your business?
Social media has become an essential part of marketing and advertising strategies. Social media networks help build brand awareness, develop customer leads, and increase site traffic. It is a powerful advertising tool that can attract and increase customer base. It can generate publicity and promote customer loyalty. Below are some benefits of social media for companies.
10 Things Social Media Can Do For Your Business
1. Generate brand awareness and interest
With its large user base, social media helps to promote your company’s products and services to more people. Social media posts can reach audiences previously inaccessible to traditional marketing strategies.
2. Collect insights and ideas to improve your business method
Social media platforms have built-in analytics tools to provide relevant business data. Based on this data, you can develop and grow your business plan. It can help you better understand your customer base, which can help you develop the best products possible.
3. Increase your company’s market reach
Social media expands your marketing reach by helping you enter international markets without adding marketing costs. Potential customers all over the world use social media websites such as Instagram and Twitter. Many companies hire social media managers to help them use social media platforms effectively.
4. Increase Operating Revenue
Social media advertising helps you build customer networks. This creates potential customer leads, which ultimately translate into sales. According to Statista, there are 295.48 million social media users in the US alone. A strong social media strategy can help you access almost limitless potential customers.
5. Accessible Customer Support
Many people turn to social media to communicate dissatisfaction or problems they encounter with a product or service. Social media provides a channel for your business to respond quickly, improving your customer service reputation. Good customer service can also help you retain loyal customers.
6. Brand accessibility
Social media makes your products and services easily searchable and available to potential customers. If a customer can easily find your products, they are more likely to buy from your company.
7. Flexible Social Media Marketing Strategy
You can adapt your existing marketing strategy to your different social platforms. Keeping your audience in mind as you create marketing collateral makes it easy to tweak the content slightly to make it work for different platforms. Your messages can also be adapted to your company’s various marketing events.
8. Affordable Video Marketing
You can include videos in your social media posts at no extra cost. You can be imaginative and experimental when creating this content. It could be a vlog, product demo, or customer testimonial.
9. Keep an eye on the competition
Keeping an eye on your competition is a good business strategy, and social media makes it really easy to keep you up to date on what your competitors are doing. You can easily compare social media metrics to see how your business compares. There are many online courses and classes available if you want to learn social media marketing strategies.
10. Recruiting Skilled Personnel
Job networking sites like LinkedIn can help your company find the most suitable candidate for all job openings. Posting jobs online can help a wide variety of people learn about the opportunity, which in turn can give your recruiting team more options to choose from. You can also recruit valuable employees through these sites.
Examples of how social media helps businesses
Many businesses have benefited from social media marketing, especially during the COVID-19 pandemic. A notable example is BooHoo, a fashion store owned by PrettyLittleThing and Nasty Gal. While other fashion retailers struggled under the impact of the pandemic, BooHoo was one of the few to fare well.
BooHoo’s social media strategy is an integral part of its survival. They partnered with influencers to target and appeal to their young market. They entertain their audiences with fun, relevant and pop culture-filled content, such as #BoohooInTheHouse – a hashtag spin-off to ‘stay at home’ during the lockdown.
Chipotle is another example of social media success. They are one of TikTok’s rising star channels. Chipotle used social media to become relevant and recognizable to younger consumers. Its fun and unique content, such as the #ChipotleLidFlip, generated millions of views. Their most successful content, #GuacDance, was viewed 430 million times in six days, according to a Time article.
Conclusion: why use social media for businesses?
As more people use and rely on social networks, it is clear that social media has strengthened its vital role in business marketing. Social media content influences the purchasing decisions of many consumers. Companies with a robust social media presence and branding will increase their audience and conversion rates.
To learn more about using social media for business, enroll in a social media marketing bootcamp. Bootcamps like BrainStation have several digital and social media marketing courses to help you build your business social media presence. Their curriculum ensures that you learn the skills you need to start a new career in marketing.
How Social Media Helps Businesses Frequently Asked Questions
LinkedIn, Facebook, Twitter and TikTok are the best business social media platforms. The two most important factors to consider are your business objective and your target audience. Some social media channels, such as LinkedIn, focus on business-to-business (B2B) interactions, while others focus on business-to-customer (B2C) interactions.
You can increase your business followers by increasing your Page’s engagement rates. High-quality, relevant content delivered to your specific audience can help you achieve this goal. Post original content to blogs, Instagram Stories, and Facebook Live. Your community of followers plays a vital role in helping your content go viral.
Spamming is one of the most common social media marketing mistakes. It annoys people who might report your page. Other common mistakes are not interacting with your followers and alienating your audience, causing them to unfollow you. Inconsistent and irrelevant social media posts are also a problem.
Social media marketers run the official social media profiles for the client company. They maintain an online presence promoting customer engagement and create social media marketing campaigns. According to Glassdoor, a budding social media marketer earns $43,321 per year.
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