Since the advent of social media platforms in the early 2000s, the way people interact with each other has undergone a radical transformation.
Today, there are approximately 4.89 billion active social media users globally. Business owners who leverage this massive pool of potential leads can reap significant benefits.
It has been reported that over 90% of brands are present on two or more social media platforms, with Facebook alone reporting 200 million small business users in 2023.
Despite this high level of online presence, social media is often considered the second most challenging marketing tactic to execute effectively, just behind Search Engine Optimisation (SEO).
Business owners often view learning how to effectively utilise social media as a time-consuming task, and they would rather allocate their resources to other marketing efforts.
However, investing in social media can provide a significant payoff for businesses. Here are some of the ways in which social media can impact a business:
Increased brand visibility
By having an active presence on multiple social media channels, businesses can increase their chances of being discovered by a wider range of consumers from different demographics.
Additionally, approximately half of all consumers follow brands on social media to demonstrate their loyalty, thus increasing brand awareness and visibility.
By treating their followers as a community rather than a stagnant lead pool, business owners can improve customer service and enhance their brand image.
Improved customer service
Social media provides a platform for businesses to engage in direct dialogue with their customers. Approximately 60% of followers expect brands to interact with them through social media, making it an important component of customer service.
By providing engaging content, exclusive social offers, and genuine responses to feedback, business owners can build lasting customer relationships and foster brand loyalty.
Cost-effective
Traditional marketing tactics, such as snail mail, print ads or flyers can be expensive, and their return on investment (ROI) is often difficult to measure.
In contrast, joining and posting on social media is free, with no limits on the number of posts a business can publish. Paid advertising on social media is also an option, allowing businesses to target specific audiences at a cost that fits their unique marketing needs.
Boosted search engine ranking
Social media use can positively impact a business’s search engine ranking. By fostering a social media following, providing valuable content that is likely to be shared, and engaging with customers online, businesses can improve their search engine ranking, making them more easily discoverable.
Conclusion
Social media is a powerful tool that can provide numerous benefits to businesses. To make the most of social media, it is essential to create content that provides value to customers, while also keeping them engaged and entertained. With the right strategy and approach, social media can be a valuable asset to businesses looking to reach their full potential.
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