Social Media is a growing field that many small and large businesses are taking advantage of. With a growth in platforms, ways to use the platforms and ad space, social media has skyrocketed in the business world. According to HubSpot, “92% of marketers have agreed that Social Media has increased their businesses exposure.” With statistics like that, it’s beginning to be impossible for any business to avoid social media.
Here is an insight into 5 reasons why avoiding social media could be detrimental to your businesses growth.
1. Social Media Can Increase Brand Awareness
It can be difficult for a business to establish a brand among their community without extensive advertisements and customer engagement. By using social media, a business can be creative and unique about establishing their brand. Social media allows for that content to reach an even larger audience locally and globally, increasing the brand awareness and successfully establishing that businesses brand. Social media allows a business to see what customers are talking about and what they want to see from that business. This leads to increased brand loyalty. When a customer is loyal to a brand, they are more likely to advertise that business on their own social media sites to encourage potential customers to check them out. Potential customers are then going to look for that business on social media to find more reviews and to learn more about the business. A study performed by Convince&Convert states that “53% of Americans who follow brands in social are more loyal to those brands.”
2. Social Media Increases Conversion Rates and Traffic
By using social media, you can have the potential of bringing in new customers that convert from a competitor. With every picture, message, and video that is posted on your page, several potential customers see that and are going to start to recognize your brand. They may convert to your business immediately, or it may take awhile either way, it helps generate more leads for your business. Social media is important for engaging with customers, a great way to increase your conversion rate is by engaging with those customers who are searching for products or services that you offer. Interacting with customers will make them more likely to trust your business and willing to leave a review for other potential customers to read. Increased conversion rates equal increased business traffic which leads to a growth in your business as a whole. HubSpot confirms that “80% of marketers indicated that their social media efforts increased traffic.”
3. Social Media Gives A Business Higher Brand Authority
The world is on social media, whether they use it professionally or personally, they interact with hundreds of people a day. This leads to reviews and feedback on businesses whether they are on social media or not. If a business has social media accounts, they can take control of that feedback. If a customer posts a negative review on social media, a business can immediately go into damage control. By doing so they can apologize publicly and offer a solution. Other potential customers will see this and will increase their trust in their customer service. If a customer posts a positive review, a business can publicly thank them for their dedication and offer them other services that might interest them. This shows other potential customers that the business is going out of their way to make their customers happy in every situation. Having a high brand authority is important for a business to control how their brand is perceived and to grow their business. Being in control of your brand leads to making your business recognized as an industry expert. When your brand is strong and recognizable, your traffic will continue to grow.
4. Social Media Increases Your Opportunity To Expand Your Professional Network
Your competition is on social media right now converting customers from your business, creating a strong brand and growing their business. Taking notice of this is important. Using social media to see what content has helped increase traffic to the competition can help you create useful content for your page. Using your competition can also help you determine what customers are looking for in your area of business. On top of that, you can interact with other professionals in order to find potential customers that you may not have found otherwise. Gaining support from professionals through social media can help your business grow and increase traffic to your pages.
5. Social Media Is One Of The Most Affordable Marketing Options Available
All businesses have to watch how much they allocate towards marketing and advertising. Social media allows for a large marketing plan at a very affordable cost. Most platforms offer ad placement on their site. They will place your businesses ads in places that they are most likely going to be noticed at a low cost. Placing these ads comes at no extra effort to you, making social media an easy way to market your business. Many social media platforms will also track the amount of clicks and time spent on your page resulting from the ad. This helps the business determine if social media is increasing their traffic. Facebook analytics is very simple to use and understand, making social media marketing an easy, affordable and effective way to grow any business.