I remember 10 years ago, social media was considered by some as a fad- soon to pass. A bright new shiny toy, that all the ‘kids’ used and businesses could not really benefit from. Well, the skeptics were wrong…boy were they ever. There are over 3 Billion internet users, and over 2 billion of them have active social media accounts.
The most popular social platforms have morphed into marketing behemoths, offering your business valuable data about your customers and (for the most part) free way to reach them. The verdict is out: social media for business is no longer optional.
There are many benefits of social media for your business- I’ve outlined 5 of them below.
1. Learn about your customer
Social media provides heaps of data about your customers in real time. Every day there are over 500 million Tweets, 4.5 billion Likes on Facebook and 95 million photos and videos uploaded to Instagram. This means that there will be a treasure trove of information about your customers, allowing you to get a glimpse of – who they are, what they like and how they feel about your brand.
Utilizing daily active engagement and social listening, you can gain relevant customer data and utilize that information to make smarter business decisions.
2. Increase Loyalty & Brand Awareness
When your business is present on social media, you make it easier for your customers to find and engage with you. By engaging with your customers on social media, you’re likely to raise customer retention and loyalty to your brand. A study published by Convince&Convert found that 53% of Americans who follow brands in social are more loyal to those brands.
3. Provide awesome customer experiences
Guess what? Most of your customers expect you to be on social media. Over 67 percent of consumers today, look to social media for customer service. They expect fast response times and 24/7 support- businesses that deliver will win. A study by Aberdeen Group show that companies engaging in social customer service see much bigger financial gains
4. Spy on your competitors
With social media monitoring you can gain valuable information about your competition. This will allow you to make strategic business decisions and keep in front.
5. Its all about building relationships
Social media isn’t about blasting your business sales pitch- it’s a two way street where you have the opportunity to enhance relationships. Creating dialogue with your customers is something that traditional advertising cant do.
The fact is that when it comes to social media, its not the numbers but the meaning behind them that counts. If social media is about building relationships, then its the authenticity of those relationships that will truly determine their ROI.
Lets get started on social and grow your business
Social media is no longer a ‘shiny toy’ only used by kids, rather its a treasure trove of benefits to help you grow your business-learn about your customers, forge relationships and grow your brand & loyalty.