Some people believe that Social Media is a temporary fad with no practical advantages and a steep, complicated learning curve while others see it as “the next big thing”. As the trend continues to grow stronger every day and more and more businesses appear to be promoting their social media handles, some have found themselves questioning if they should join this growing trend. Does it truly pay to spend valuable time on social media sites such as Facebook, Twitter, Instagram and LinkedIn or would the time be better off spent elsewhere?
According to Hubspot, a popular marketing website, 92% of marketers in 2014 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites.Time Magazine said that social media is the most powerful tool that any business owner can use to engage customers. They go on to state that small business owners can’t afford to ignore social media—it drives traffic, growth and revenue. So with that being said we can clearly see that word of mouth is that Social Media is on the up and up and will positively impact your business. Want more evidence? Lets look at some of the ways social media marketing can improve your business:
Social media is a wonderful tool to help market your brand and increase awareness. According to Forbes, this is important because it makes your brand or company more accessible for new customers, and more familiar and recognizable for existing customers. New customers may hear about you through an existing customer that shares a post or blog article on their Facebook or Twitter page. Who doesn’t love free advertising?
By marketing your company online through social media sites, you are able to make your brand not only stand out in customers minds but you can also create a sense of brand loyalty. According to an article published by Convince&Convert they found that 53% of Americans who follow brands in social are more loyal to those brands. Think about it, the brands you see having fun- staying competitive and marketing themselves online are the ones that are going to stick out in your mind. By utilizing your business social media sites and networking with your target market you gain more exposure for your brand which easily allows you to showcase your products and services.
In the business world, Networking is crucial to growth. So why not network online? Social media helps you listen to what people are saying, including your customers, prospects, peers and competitors. Giving your customers easy access to see products, sales as well as reviews- if done correctly can increase the relationships you have with them. We all know that with relationships, comes more business. With more business, comes more money. Now if you notice, I said “if done correctly” that is key when it comes to social media relationship building. It’s important to listen to what customers are saying and monitor reviews and ‘mentions’. No company can expect great reviews 100% of the time however taking the ‘not so good’ reviews as a way to learn how to improve is an added benefit-to social media and it can help you to improve business.
According to Social Times, Facebook is listed as one of the top social media sites that generate leads. Some companies accomplish this through paid advertisements however I don’t believe that’s completely necessary. Since social media is used by so many people it allows businesses to get a greater coverage. 52% of marketers found customers through utilizing social media in 2013.
The statistics all point to Social Media being huge for businesses. Whether you manage it yourself or pay to have someone manage it for you- the facts are there- its worth it. Do the research yourself- and when push comes to shove it cant hurt to give it a try
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