At the start, social media was just considered as a fad and something to use in passing. When social media platforms were sprouting from different kinds of genre, it changed the way people communicate each other. These platforms were used to connect with family, friends and other people easily from one end of the world to another.
It was not long before businesses realized the benefits from the use of social media in marketing. Small businesses have resorted to the use of social media in advertising their brand to people around the world. Big businesses have used it to maintain its standing in the market and to catch up with market trends.
According to Hubspot, the number of percentage of marketers which agreed that social media is important for their business increased from 86% in 2013 to 92% in 2014. Statisca even showed a trend that by 2018, there will be 2.67 billion social media users, a significant increase from 1.91 billion in 2014. Imagine the population of prospective markets for businesses. With the data presented and the studies conducted, social media is making it big in the business industry. However, it is also fast evolving. Thus, companies and organizations, including entrepreneurs, should take advantage of the benefits it can give to various businesses. The 5 main benefits in of Social Media in business are explained below.
1) INCREASE BRAND AWARENESS. The availability of social media platforms makes it convenient for businesses to put their brand out in the open. With just a click of a button, information about your business and its offers are made available to thousands or even millions of users to just pick up and read about. When a business concentrates on talking about its brand, for example in Twitter, the users will likely read about it and your brand is passed from one user to another. With the proper marketing skills and schemes, social media help your business in making your brand known to people around the world.
2) ENGAGE WITH CUSTOMERS AND CLIENTS. Before, you need to talk personally to your customers and clients to get their feedback. Or another strategy was to hand out survey questionnaires. With social media, the business can already know what their customers and clients like and do not like about your products and services. People openly discuss their thoughts. It is up to you now to listen and address these comments or not. Social media can also increase your presence in the lives of your customers. When you respond to their queries and comments, your customers and clients will know that you care about what they have to say. Caring for what they have to say drives loyalty from these customers and clients. You are not only knowing their thoughts but also giving them the services they deserve. Remember, customer service is important in any kind of business.
3) ENABLE YOU TO ANALYZE COMPETITION. Because social media has been widely used by businesses around the world, it will enable you to stumble upon your competitors – how they are doing, what they are doing, and what they are talking about. With this, you can carefully observe their strategies on how they win your prospective customers. It is not wrong to observe your competitor, especially if you know they are doing better. It will enable you to learn lessons from them. Further, social media users talk just about anything. Their opinion and comments to certain products and services will educate you about what they really want from you and what they are already getting from your competitors. You just have to carefully search and browse, and listen carefully to what they have to say.
4) CONVERSION OPPORTUNITIES. The more a business invest in its presence in social media, the more opportunities they offer for clients and customers to convert to their brand. Every post, every link, every video and every status, gives your prospects an opportunity to read and react. These prospective clients and customers may not mind the content you are making available in social media, but the more you publish content about your products and services, you are offering a number of opportunities for them to check out and try your brand.
5) INCREASE WEBSITE TRAFFIC AND SEARCH ENGINE RANKINGS. The more you post and create content for your business in the World Wide Web, the more you are positioning your brand on the search engine rankings. When people search about a certain product or service, and you are offering it, it will increase your chance of being included in the search results, thus, increasing your website traffic. The more website traffic, the more prospective clients and customers. According to research, “61% of organizations engaged in Social Selling report a positive impact on revenue growth,” and “74.9% of companies that leverage Social Selling report an increase in their sales team in the next 12 months.”
Social Media is a very powerful tool to improve your business and to build your brand. You just have to utilize it with the appropriate skills, background and strategy.