Your business presence is as essential as any other element of your marketing strategy. No presence on social media? No way you can reach the level of your competitor who is active on social media platforms!
People might not visit business websites every single day but habitually visit their social profiles daily, sometimes multiple times.
There is a significant number of sole proprietorships and small businesses today that are operating without any website, just through social media.
These businesses are putting up their products/services on their social media pages, promoting their work, and successfully getting customers without spending money on website building and advertisement.
Social media can help a business to develop brand image/recognition, boost sales, and increase revenue. It also comes in handy to interact with your customers and direct traffic to your website.
In short, you need to use this medium properly, and you can make a visible difference in your business.
Here are some benefits any business can reap with its social media presence.
1.Reduce the Cost of Marketing
Whether you are a business or an individual, there is no cost to sign-up on social media. Marketing your brand on these mediums does not require any huge investment.
Still, with the right strategy, returns can be greater than traditional marketing. Not only marketing cost, but you can also reduce the customer service cost by encouraging people to reach out directly on your page.
Promoting your products via Facebook posts, Tweets, and multiple akin things don’t cost you a single penny.
2.Direct Reach to your Customers
Social media can be used for customer service without any cost. Besides, people can comment and review any product or service on its pages.
Positive reviews are a promotion of your business. A business can also use social media as a tool to collect many data.
For example, you can ask people whether they are satisfied with your products, what they think about your service, what change they would like to see in your services, etc. Personalized responses help a business to grow better.
If you look at this YouTube video description, you can see that the publisher added links to their site.
They specify the camera type used to film the clip and the recorder they used for audio. In this way, they promote their site and the two products, and at the same time, they ask for feedback.
3.Drive Traffic to your Website
Social media help you direct your target audience to your business website. You can use your posts or social media advertisements to get more clicks on the website.
As a business owner or accounts administrator, you should add your website address besides your profile information.
Without social media promotion, your traffic is limited to only local social media traffic. This medium can be your cheapest gateway to the new segments of consumers.
Social media can be your best assistant to getting in touch with your potential customers. You can use posts and promotions to aware social media users more about you.
The more people know your business, the more potential customers there. There are millions of brands offering their services in every niche.
What makes a difference is brand recognition and product awareness among customers.
It might surprise you that many people today use social media to research brands. Sure, a business can work without social media.
Still, this segment might consider your services a scam because of no social media footprint. Using social media for marketing can establish a good reputation as a business and reflect the brand’s credibility.
People are interacting with your posts. You are responding to them, putting up your promotions/products on the page – what can be a better way to show the legitimacy of your business?
As an example, let’s look at GottaPics. This is a four years old photography blog. They have a Facebook page and a Pinterest business account and share every post when published on many social media sites.
6.Getting Customer Feedback Directly
The customer is the boss. A product can be brilliant, but it is a complete failure if it fails to impress your target market.
One of the most significant benefits of social media that every business can enjoy is that your customer can directly reach you and engage in real conversation, and vice versa.
You can get valued feedback and data by asking opinions via posts, conducting surveys, and even asking opinions directly.
One of the wise business approaches in today’s marketplace is using your social media as a tool for your Business Performance Evaluation.
You can find talent as per your requirement using social media. LinkedIn is designed as a candidate directory for recruiters and an employer’s directory for candidates. It comes in handy in finding the right people for the right job.
There is much diversity on the internet. People from different backgrounds are there. It offers recruiters a perfect cost-efficient opportunity for social recruiting.
8.Get Industry Influencers to Boost Traffic and Sales
An internet marketing and SEO specialist company, WebFx, researched returns on investment (ROI) for a business on influencer marketing.
They collected many data, and the results were surprising. For every $1 invested in influencer marketing, your business can generate $6.50 in return. This means your ROI can be 650% or more.
Any business getting the help of industry influencers on social media to promote their products reap great benefits.
These niche influencers already have your target market as their traffic. Sending them promotional packages in return for promotional posts, using their help as your affiliates, or simply paying them for their promotion can be a great way to get recognition in your target market, increase revenues, and direct traffic to your blog/website.
Suppose you are a new business or have just established your social media pages. In that case, there is no better way to gain a following other than influencer marketing.
9.Better Insight into The Marketplace and Trends
Social media is the best way to conduct market research without spending much money. It requires some time, but consumers’ behaviors and trends can be tracked in-depth. Sometimes you do not have to put much effort into social media research.
Just analyze the recent posts of your consumers/target market or search the keywords in the research bar, and you will have thousands of posts in a second. Checking the hashtags related to your industry is very helpful in keeping updated with the industry news and your marketplace updates.
10.Keep an Eye on your Competitors
Lastly, social media is an excellent tool for insight into what your competitors are up to. Most businesses are on the internet today.
Every business is putting up posts about what are their new products, what are their promotional offers, et cetera.
You can also analyze the customers’ reviews on their strategies; you can adapt and integrate the new things in your business that are working for them and avoid which are not.
Competition analysis on social media is an effective way for new businesses to find ways to direct traffic toward their pages and get a competitive advantage over others.
Having an appropriate profile on social media adds up a lot to a business’s good performance. You can use it to get in touch with your valued customers, promote your brand, and develop credibility and awareness of your brand.
Peak into competitors’ progress. Above all, increase your revenues and direct more traffic to your website without spending much money on marketing.
Businesses can cut marketing costs effectively and efficiently by establishing social media profiles and investing time and effort.
In case your business does not, you are missing many advantages. Instead of you, your competitors might be benefiting from these advantages.