For any business to grow swiftly, social media presence is the key to reaching a wide target audience within a short span of time.
It has been found through research that 2 out of 3 adults use social media nowadays and not by tapping into the power of social media, your business is most likely to fail. Social media not only helps to promote your brand and interact with existing customers, it also helps to bring in a lot of new customers.
Social media is considered an amazing customer service tool and is essential for any business to always stay connected with their customers. Social media is absolutely powerful when employed correctly and can push your business to higher levels.
Social media is not considered as a luxury or choice anymore, it’s a mandate for any business. Some of the reasons for the need of social media marketing to promote your products include,
1. Faster and Wider Reach to Target Audience
Social media provides an easier and faster way to communicate with your target audience. Also, social media has a wider group of audience compared to other local advertising media. For example, Facebook has more than 1 billion users and creating a Facebook page for your business can help you reach thousands of customers across the globe.
You can connect seamlessly with your current and prospective customers. Since it’s accessible to people of all age groups and is used extensively by everyone, social media is the right place to build strong relationships with your existing and potential customers. Unlike a phone call or email, social media platforms can be used to market your brand easily and showcase your advertising skills.
People don’t follow the traditional routes like TV or magazine ads to know about new products anymore.
Customers now use social media to discuss what’s new in the market and the exciting offers available from various brands they like. Hence, you can also use social media to promote your products through interesting offers which will attract new customers to business. Social media allows you to reach millions of people with just one message, market your products to thousands of potential clients with just a click of a button and spread your brand like wildfire.
2. Easier Accessibility and Very Cost-Effective
The internet has become easily accessible to common man and most people use modern gadgets like smartphones, tablets or laptops to stay online on a 24/7 basis. Hence, social media has become easily accessible to everyone. Also, Social media is free to use and people don’t have to pay for opening a Twitter, Google+ or Facebook account. So, everyone has started using social media to interact with their family and friends across the globe and to share updates on trending topics.
Hence, social media marketing is very cost effective when compared to other marketing techniques like TV ads or magazine ads. You can create a Facebook page for free and target specific demographics from different regions in multiple customized ways. Also, Twitter recently launched a powerful marketing tool named Audience Insights.
The social media marketing industry has become a highly competitive and fast-growing industry, so businesses can get a lot of exciting ways to promote their products at an affordable price.
3. Better Customer Service
For any business, great customer service is imperative to achieve brand loyalty and trust among their customers. Even if you have a great product but poor customer service, then your business won’t get repeat customers. Social media is an easy way to respond quickly to the concerns and queries of your customers. Users can give feedback or post their queries on your Facebook page or Twitter profile and you will get instant notifications. You can respond to them promptly and build a lasting relationship with your existing customers.
Social media can also be used to inform people about the values of your company and how well you care about the issues of your customers. According to a J.D. Power survey conducted on 23,000 online consumers, 67% of the customers prefer to use the social media channel of the company for customer support.
According to a study conducted by Edison Research, it has been found than 42% of users who attempt to contact a company or service through social media expect a response within 60 minutes.
4. Higher Conversion Rates
Social media can be used to build a fan following and convert your target audience into new customers. Every single post on your Facebook page or tweet you make on your Twitter profile provides an opportunity for customers to convert. Every post, videos or comments you share on your social media page will offer a chance to interact with your potential customers and eventually result in the conversion.
Every positive interaction on your social media page can increase your click-through rates and brand loyalty.
Social media platforms add a humanization element to your brand and based on research, social media offers 100% higher lead-to-close rate when compared to outbound marketing. The higher social media followers you gain for your business, the more credibility and trust it adds to your brand. Anyoption tweets, for instance, makes for a great example of achieving better conversion rates and strong brand reputation in binary trading niche.
5. Improve Brand Loyalty and Gain Insights about consumer behavior
Social media helps you to understand your customers well. Since all the social media platforms are bundled with detailed analytical tools, you can gain deep insights about your consumer behaviour. You can understand which type of products your customers prefer and clearly get to know their likes and dislikes. Social media marketing is a process of constant evolution and refinement. Also, communication through social media is very transparent and helps to engage with your customers directly without any 3rd party intervention.
Based on a report published by Texas Tech University; it has been proved that brands which maintain an active social media profile have more loyal customers than which don’t. Another study published by Convince & Convert states that 53% of Americans who follow brands in social media platforms are found to be more loyal to those brands. Social media platforms have become the new channels for your brand’s voice and content. Hence, every post on your social media profile makes your brand more visible to your target customers.
Conclusion
Successful social media marketing can build a thriving community of customers who love your service or products, enjoy interacting with your brand voice and are willing to accept your promotions. Social media is the future and unless businesses make use of social media marketing effectively, they will be left far behind in the coming years.
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[Main Photo by Sora Shimazaki from Pexels]
Kris Olin, MSc (Econ.) * Editor in Chief at Social Media Revolver * Web Designer * SEO Specialist * Author of the Facebook Advertising Guide. Follow Kris on Twitter and LinkedIn. See his photos at Flickr.
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