It’s no secret that the benefits of social media are accessible to all businesses. All possible target audiences are actively participating in online conversations. By joining in, companies can successfully increase brand recognition, promote market leadership, and attract followers who are more likely to become customers. Whether your business is B2C or B2B, the benefits of social media can be profound and tangible.
In 2014, 92 percent of marketers said that the benefits of social media are important for their business and that social media generated more exposure for your business. Eighty percent indicated that social media increased web traffic. Seventy-one percent said they see the benefit of social media in gaining better market intelligence. And more than half of marketers say the real benefits of social media are generating qualified sales leads.
These are just some of the benefits of social media for business:
- Increased brand recognition – Social media offers new marketing channels to promote your brand. However, unlike advertising, social media lets you engage in conversation with your market. It also has a viral effect, allowing you to reach new prospects through newsfeeds or connections.
- Improve brand loyalty – As part of the conversation, you can promote more interest in your brand. Research shows that 53 percent of Americans who follow companies through social media are loyal to those brands.
- More web traffic – Social media provides the ideal forum to share interesting content that is relevant to your business. Content drives more traffic and web visitors become followers.
- Improved search rankings – Social media also has value for SEO. Ranking higher in the search engines reinforces brand visibility and increases traffic.
- Social media promotes conversion – Social media humanizes business and puts a face on the brand. Engagement promotes intimacy and trust. Social media has a 100 percent higher conversion rate than outbound marketing.
- Social media is free – You can substantially reduce marketing costs and have a more effective marketing program by embracing the right social media channels.
- Gauge customer sentiment – Too many marketers consider social media as a broadcast marketing tool, like advertising. One of the benefits of social media is that it is interactive. By listening to the conversation, you can learn more about your customers. You can even talk to them directly and learn what they really think.
- Your competition is already talking to your customers – Like it or not, your competitors are already using social media to steal market share.
Every business needs a well-developed plan to reap the benefits of social media. When executed correctly using a well-conceived marketing plan that considers such factors as available social media channels, audience, message, format, and content, you can build strong brand visibility and generate more online traffic, which inevitably leads to more customer conversions. If you aren’t certain how to get the most from your social media marketing strategy, consult marketing experts who can show you how to realize the greatest benefits of social media.