Scroll, tap, share, subscribe, and follow! This is the social media lingo we come across every day. There are amazing benefits of social media marketing for businesses which we will study in this blog.
Introduction
Who would have thought that someday we would be spending a lot of time just on some handy devices, i.e. our very own smartphones? From sending free messages to our friends after a recharge to sharing memes with each other now, we have come a long way. It has completely transformed our lives. Let’s look at some statistics:
- According to Forbes research data, an estimated 4.9 billion people use social media globally.
- An average person uses social media for 2.5 hours every day (huge, isn’t it?).
- Short-form videos are the most interesting content on social media (P.S. living in the world of content creators).
- Smartphones are the most popular way for consumers to access social media (you might be reading this blog on your smartphone).
We cannot understate the importance of social media. Looking at the above statistics, brands, businesses and marketers can figure out that their target audience is always present on social media platforms.
What is Social Media Marketing (SMM)?
In simple terms, social media marketing is the process of leveraging social media channels to market/advertise products and services and establish relationships with audiences. Strategy and creativity are the key factors in social media marketing. Social media assists in building your brand’s personality and driving website traffic. and increasing revenue. As per Statista, “increased exposure is the most commonly cited advantage of using social media marketing purposes among global industry professionals.” Lead generation, a loyal customer base and improved traffic are a few additional advantages of social media marketing that marketers perceive as assets for any brand or business.
What is the importance of Social Media Marketing (SMM) for your Business?
An unstable economy leads to reduced marketing budgets for businesses. It becomes difficult to attract and maintain customers, thus reducing your revenue. An example of an effective social media marketing strategy: Gillette created a social media campaign called Gillette We Believe: “The Best Men Can Be.’ The YouTube video showcased criticism of the negative behaviour among men, including bullying, sexism, and toxic masculinity. Then it transformed to show positive examples of masculinity, such as supporting others, caring for loved ones, and more.
On Instagram, they displayed inspiring male role models and their adventures. This campaign addressed a very significant debate. An eye-opening moment: Consumers wanted to connect with the brand. Businesses can unveil their values and passions by initiating a conversation on social media. Social media marketing has many advantages for businesses, so you will not be disappointed.
Also Read: Best Social Media Platforms for Freelancers
10 Benefits of Social Media Marketing for Every Business
Social media marketing plays a key role for many brands and businesses. You can build a loyal customer base and increase your following with the help of social media marketing. Let us look at some of the benefits of social media marketing for businesses:
Enhances Brand Awareness
One of the most economical digital marketing strategies for sharing information and boosting brand awareness is social media marketing. You can find your target customers, engage and interact with your audience, and build a community with them. As a brand, you can share your passions and values with your audience to make a connection and establish relationships. Social media marketing (SMM) helps to make your brand more human. When you prioritise the needs of your customers and employees, you can stand ahead of your competition. So, create a social media strategy that speaks your customers’ language and creates a lifelong relationship with them.
Establish Yourself as a Thought Leader
When we look at the pros of social media marketing, establishing a brand as a thought leader in the industry plays a key role. A brand becomes the voice of its customers. Social media provides businesses with an opportunity to share their values and opinions, and educate and inform their potential and existing customers.
When you share your thoughts on the platforms, social media helps your business to establish itself as a thought leader. This helps in building up loyalty and trust among your customers. For example, TikTok’s global audience demographics comprise 53.4% females. This means, the brands whose target audience is women, can leverage TikTok to share values and opinions. You can educate and inform about your products and services and build a loyal community.
Improves Search Engine Result Page (SERP)
Google frequently incorporates content from social media networking sites, including tweets, Facebook pages, and Instagram photographs, into its search engine results. When you market your brand on social media, you also increase your SERP presence. Could this BE any more awesome? This is one of the main advantages of social media marketing as it grows your presence on social media as well as on search engines. Keep yourself updated with the trends and serve your audience with social media content blended with your brand’s unique flair. You can employ social listening tools to understand the slang of your audience, create content and make a connection with your audience.
Example of Medium Content Indexed on Google’s SERP. Medium is a social publishing platform that allows users to publish articles and stories.
Increases Website Traffic
Achieve two things with one action! Social media posts should direct visitors to your website. Consider your social media as a sales funnel. A potential lead comes across your product/service on a social media platform, clicks on the link to visit your website and browse for relevant information and hopefully, makes a decision to purchase from your website.
For instance, eCommerce websites such as Amazon, and eBay to name a few, introduce their potential and existing customers with various products with a link on the social media platforms. After clicking on the link, it takes interested customers to their website which further leads to the potential customer buying the product. Establish long-term relationships with your customers by outperforming your promotional activities.
Engages your Audience
The most rewarding benefit of social media marketing is investing in your audience. Social media, in contrast to conventional media such as radio, television, newspapers and magazines, promotes communication between the brand and its audience. It has now become easier to understand the customers’ perspectives. Owing to social media, getting feedback from customers on products/services is simpler than ever. You can share new content, get quick feedback and see what people are talking about your business on their social media accounts. Some brands leave thoughtful comments on the social media posts. Customers and brands have the freedom to express themselves freely because of social media. Engage with your customers and followers to show that your brand cares about them.
Influences Conversion Rates and Sales
The ultimate goal of spending money on a marketing campaign is to increase your conversion rates and sales. As per the reports of Search Engine Journal, “the average time spent on social media daily is 2 hours and 24 minutes.” This implies that a lot of people will see your content and if it’s worth it, it may even persuade them to buy from your brand and business. This leads to an increase in your conversion rates and sales revenue. Capture your audience with your unique products and services, make a connection with them and earn yourself a loyal customer base. Do not underestimate the power of economic advantage of social media marketing for your business!
Track your Competitors
Learn from your competitor’s social media. By observing their social media posts, you may learn where you need improvement and the do’s and don’ts. This helps you to understand the product positioning within the market and the trends they follow. For example, If you own a cafe and the holiday season is approaching. You notice a sudden decline in your sales and revenue. You can always track your competitors’ social media and create a strategy to implement. You can give your own unique twist around the holidays. Social media metrics such as likes, shares, comments, and views on a post are easily visible and this helps to quickly analyse what is working for your brand and your competitors.
Also Read: Is Pinterest Social Media or a Search Engine?
Generate a Higher ROI
A high return on investment (ROI) can be achieved by both organic and paid social media marketing. When your business does not have to pay for the published content, it is organic social media marketing. Some of the viral posts are organic. You do not have to spend a penny on many posts. However, paid social media marketing is also a good choice for businesses. Buying ad space on social media platforms may present your business to new customers. This produces a high return on investments. It is one of the most significant benefits of social media marketing for businesses of all sizes.
Identify your Audience
Many brands and businesses are following the concept of social listening. Listen to your audience and learn what they are talking about. Social listening is an activity to monitor and analyse social media channels for mentions of your brand, competitor brands and relevant keywords. By observing social media, you can listen to customer’s conversations. You can understand their lingo and implement it in your social media marketing strategy. Identifying your audience by social listening, understanding their pain points and strategising accordingly to reap the benefits of social media marketing.
Lead Generation
Social media helps to generate leads for businesses. Leveraging social media is an excellent way to attract new customers to your business and products. They might not be prepared to buy your products and services yet, however, they will find your interesting social media posts for entertainment and might look for more information. Social media helps potential customers to learn about your business in a simple and cost-effective way.
Conclusion
While the Earth revolves around the sun, human beings revolve around many social media platforms. They jump from one platform to another. Clearly, there are many advantages of social media marketing, from brand recognition to increased ROI, and competitor analysis to increase website traffic. Social media has made the digital landscape entertaining, informative and exciting. There are no reasons not to create a social media marketing strategy. Don’t let your competitors take away your potential customers. Identify your suitable social media platforms, create a strategy and grow your business.
Frequently Asked Questions on Benefits of Social Media Marketing
What are the 4 benefits of social media marketing?
– Brand awareness
– Improved SEO
– Higher ROI
– Track competition
What are the pillars of social media marketing?
1. Social media strategy
2. Planning and publishing
3. Listening and engagement
4. Analysis and reporting
5 Advertising
What is the influence of social media marketing?
Social media marketing assists in increasing the visibility of your brand. It presents your brand in front of a wider audience, you can generate more leads and attract new and potential customers. It is cost-effective, unlike the traditional methods of advertising.
What do you think social media attracts?
Social media provides greater visibility. It has the ability to get customer traction for your brands and businesses. You can take advantage of targeted advertising and reach higher ROI and reach.
What is the role of social media in business?
Businesses can attract potential customers and direct them to their websites by leveraging social media channels. The prospective customers may be persuaded to become paying customers. With the help of customized ads, businesses can reach their target audience and improve their probability of turning their leads into sales.
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