Social media has created different channels for all business sizes to excel online. About 90% of marketers claim that social media generates immense exposure for their company. Brands that successfully master social media strategy incorporate organic and paid content ensuring that they undergo planning and optimization at every stage.
Most social networks are an important part of everyday marketing strategies. From promotion to increase visibility and launching a new product, social media platforms help with every aspect. According to an estimate, more than 3.8 billion people are active on social media around the globe. Just imagine the kind of reach social media platforms have.
The Reach of Social Media
If you don’t use social media platforms, you’re missing out on exceptional marketing opportunities which are cost-effective. These platforms play an essential part in marketing and convert leads to sales. It can be overwhelming to decide on the right channel to market a product for new business.
Some professionals are unsure which tactics to apply to get a good response on social media channels. The reach of social media depends on the techniques you use for marketing a brand or product. To reach the right audience, you will need to implement the correct techniques. It is important to know the advantages of social media marketing to get the most of it.
Advantages of Social Media Marketing for Your Business
1. Increased Brand Awareness
By implementing different social media strategies, you can increase your brand awareness. It will help you engage with a broader audience set. When you create social media profiles, you begin to interact with others. Interaction increases your brand awareness and builds your business reputation.
The post is shared with the new network of the audience, which can lead them to become potential customers. All social media platforms have a user base that creates the potential for every kind of business. With brand awareness, you can create lead generation, which is another advantage of social media marketing.
2. Higher Conversion Rates
With increased visibility on social platforms, your business can gain more opportunities for conversions. Every blog or comment may lead to your company’s website. More than 50% of marketers claimed that taking out the time to develop a relationship with consumers showed great results.
The better the impression you make on a visitor, the better it is for your brand or product. According to an estimate, social media has a 100% higher lead to close rate, which is much better than outbound marketing. When your brand is interactive, consumers follow your brand, and it increases your business credibility. Visibility makes sure your brand reaches the right people, which will improve conversion rates.
3. Increased Traffic and Customer Insights
Social media helps to increase your inbound traffic. More than 80% of users claim that social media has helped them generate more traffic to their website. Facebook is number one as it helps to generate an average of 64%. Every social profile has a potential path to reach your site and provides a new opportunity to connect with new people.
Active users generate a good amount of customer data when they use social media. Through social engagement and social listening, you can learn about what your customers need. You can know where they like to spend their time, their interests and what they think about your brand or product. It can engage them more effectively with your business message and advertising.
4. Better Customer Satisfaction and Improved Brand Loyalty
When you interact with customers on a one-to-one basis, it makes them loyal, and they may stay longer with you. Social media platforms allow them to know you and connect with your brand better, which enhances customer experience. When they have a query, or they’re stuck with an issue, they have an option of contacting you through social media.
Social media allows you to address the issue using interpersonal dialogue, so this will be viewed positively. Interacting and engaging with your customers develop a strong bond, which helps to create brand loyalty. More than 53% of social brand followers are likely to be loyal.
Marketing on social media channels is not only cost-effective but also time-saving. You can start by creating profiles on Facebook, Twitter, and Instagram. It is free, and you don’t have to pay to set–up up a marketing campaign. Marketing on social media retains a bigger share for other offline promotions and business functions.
Also, if you decide to use paid or sponsored ads on social media, you can always start small or on a budget. Once you are comfortable, you can fine-tune your marketing ways or increase your budget.
6. Gain Marketplace Insight
Social media marketing is the best platform to gain complete marketplace insight. You not only plan but also change your marketing techniques based on the interests and likes of the audience. By monitoring regular activity on your profile, you can see customer’s interests and opinions. Social media acts as a research tool that helps you gain information that will aid you in understanding your industry way better.
It provides the ability to segment the content syndication based on different topics. The insights help you to know which content generates the most impression. The tools measure conversions based on posts on various platforms that help you generate revenue.
7. Multichannel Campaigns
Buyers move quickly between different social media channels today. They move from one website to another and from one platform to a different one according to their need. While social media has a great effect on business, it plays an important role in marketing techniques on different channels.
Multichannel campaigns provide you with an opportunity to reach your audience wherever they are irrespective of location. You can create marketing campaigns based on platforms – one for Twitter and one for Instagram.
When you create a social media campaign, always remember these five important factors – Strategy, Planning, Engagement, Analytics, and Advertisement. The strategy helps define your business goals using the SMART guidelines, and planning lets you create your content well in advance. Engagement uses social listening tools to monitor your keywords.
Analytics tracks your performance over time using different metrics, and advertising lets you set budgets with market segmentations. Social media marketing is a constant process, so you need to update with new trends to get the best results.
Sudhir Bhushan is a Tech & Social enthusiast and Founder of Bhicoupons. He is also a Web Entrepreneur by Profession and loves to write about the latest trends on Social Media & SEO.