10 Benefits of Social Media for Business

Think about your life ten years ago and how we would communicate with friends, family or people we have never met before. Who would have known that social media would have become so popular?  It’s very difficult to find a person who doesn’t have a social media platform.  We’re living in a time where utilizing social media is crucial if you want to grow your business. Twitter, Facebook, Instagram, Pinterest- they’re all free, and businesses can use them to directly engage with their audience.  Below are 10 reasons how Social Media can help your business!

Here are 10 benefits social media has that will help your business grow.

Customer Insights and Why They’re Important

When you receive customer insight, you have a better understanding of your customer. Meaning, their experiences with your business, their needs, and buying behaviors.

How can customer insight help your business?

Social media activity is high. How high may you ask? In one day, there are over 500 million Tweets, 4.5 billion Facebook likes, and 95 million posts uploaded to Instagram. Those numbers are astronomical. If you plan to start a business or happen to already have one, having customer insights, social media can’t be overlooked. The data received from customer insights will help you when it comes to understanding what your customers are looking for when doing business with you. In addition, you can run real-time reports and conversations happening around your products and/or services.

Run Targeted Ads with Real-time Results

It’s no longer enough to just be on social media, and it’s surprising how many businesses still don’t know all that can be done with social advertisement.  A fairly inexpensive way to promote your business & distribute content is through social ads. Businesses have spent over $23 billion on social advertisements to reach consumers and this number continues to rise. Take a look at Facebook for example. With their database, you can get extremely detailed with your targeting. A Facebook user can put things like age, sex, location, interests, job title, the list goes on and on. This all can be used as a filter for your ads.

Increase Brand Awareness and Loyalty

When you have a social media presence, it’s much easier for you to be found and connected with. By connecting with your customers through social media, you increase loyalty to your brand. The Social Habit has shown that 53 percent of Americans who follow a brand on social media tend to be loyal to those brands.  Running contests or posting promotions or coupons will show your loyal customers that you appreciate their business.

Generate Higher Converting Leads

By regularly interacting with social media, sales increase and so does customer retention. So “why is it important,” you ask? Because the buying process has changed, and marketers need to find new ways to reach buyers. Almost 75 percent of companies that utilize social media platforms have reported they seen an increase in sales over a year period.

Provide Rich Customer Experiences

Most of your customers will expect you to be on social media. With over 67 percent of the population now utilize social media, businesses Facebook pages have become a place to review services/products they have received and or to research prior to buying. These users expect quick responses to their questions/concerns within normal operating hours. Companies who can deliver that come out on top.

Increase Website Traffic and Search Ranking

One of the biggest benefits of social media is being able to use it to increase traffic to your website. With social media directing people to your website, the more social media shares/likes or followers you receive will result in a higher search ranking and brand recognition.

Stay One Step Ahead of Competitors

By monitoring your social media you can get insight about your competitors and what they’re up to. By having this information you’re able to make business decisions that keep you one step ahead of them.   If you do not have a social media presence, your competitors are one step ahead of you!

Sharing Content is Easier and Faster

In the past, companies used to have a hard time with reaching customers with events/promotions and or any updates. Now that you there is social media, all you should do is share it on your social media platforms and the rest is history.

Geo-Targeted Content

If you want to send out a message to a specific audience based on location, geo-targeting those users will help get your content in front of the right users. Facebook and Twitter allow you to get the right type of content to your audience which will ensure you the highest ROI on your campaign.

Build Relationships

It really isn’t about putting your company’s sales pitch on social media. It allows you to build a great and lasting relationship with your customers. Traditional marketing cannot compete with social media marketing simply because there is no conversation between customers and brands. Tourism brands, for example, create a dialogue with travelers which creates a relationship before, during, and after they’ve booked a trip with the company. Traditional advertising cannot offer what social media can.

Start Using Social Media Now to Grow Your Business

By using social media to learn more about your customers, engage with them, and extend your brand reach, you’ll be transformed before you know it.   It is never too late to fix a problem especially if it is marketing your business.  Like the good old saying “if you can’t beat them, then join them”.  This is one of those cases.  Social media is here and will be a part of our everyday life and now is the time to join the masses.

If you are in the market for help or assistance with Social Media services, we at NuStream would love to speak with you to get you in the right direction.  You can contact us at 610-432-2600 or by clicking here.