What are the benefits of social media,This was a question a customer ask me the other day and it got me thinking? How can I explain it to him without confusing him. So I have put together a 10 benefits of social media marketing that made him sit back and think about why his business needs to be social.
Social Media can assist any business and if you do not have a presences you are in the minority. There are so many different ways to connect with your audience today, increase sales and improve your business.
Increase Brand Awareness
Improve Brand Loyalty
Increase prospects to Convert Sales
Better Brand or Business Authority
Increase Inbound Traffic
Lower Marketing Costs
Higher Search Engine Rankings
Better Customer Experience
Gain More Customer Insights
So Lets Break These Benefits Down
1. Increase Brand Awareness
Your Social Media Channels give you another opportunity to promote your brand or business for a fraction of the cost of traditional marketing. These platforms can reach out to potential new customers if targeted correctly through demographics, location and interests.
2. Improve Brand Loyalty
In a recent study carried out by Texas Tech University, businesses that engage with their customers on social media enjoyed more loyalty from them. They also influenced new customers. With so many different ways to connect with customer brands can now get valuable information and create advocacy and loyalty to this business.
3. Increase Prospects to Convert Sales
Every Post or blog can increase options for your existing or new customers to convert. If you write blogs or post comments on any social media platforms, you need to write or share high value content that is relevant to your target audience and give direct links to the right landing page on your website, were they can find more in-depth information.
4. Higher Conversions
Social Media has a 100% higher lead-to-close rate than outbound marketing, and a higher number of social media followers tends to improve trust and credibility in brands or businesses, representing social proof. As such, simply building your audience in social media can improve conversion rates on your existing traffic.
5. Better Brand or Business Authority
Engaging with your customers regularly show of that you are listening and watching what your customers are talk about. When people comment or brag about a product or service you supply, they post on social media. And when they mention your brand or business name in a post , new audience members will take interest in you and follow your updates. The more people that are talking about you on social media, the more valuable and authoritative your brand or business will seem to new users. Try to connect with influencers in your area of expertise on Twitter or other social networks, your visible authority and reach will increase dramatically.
6. Increase Inbound Traffic
Inbound traffic is limited to people already familiar with your brand and individuals searching for keywords you currently rank for. Adding social media profile increase more avenues which leading back to your site, and content you post on those platforms give more opportunities to new visitor. The more quality content you post on social media, the more inbound traffic you can generate, and more traffic means more leads and more conversions.
7. Lower Marketing Costs
If you can spend just one hour a day to developing your content and post it on the different social media platforms you could start seeing the results. Even paid advertising through Facebook and Twitter is relatively cheap depending on what you want to achieve, of course. Start small and you’ll never have to worry about going over budget—once you get a better feel for what to expect, you can increase your budget and increase your conversions correspondingly.
8. Higher Search Engine Rankings
SEO is the best form to attach traffic from search engines, In order to keep up to date with the ever changing algorithms you need to keep up to speed on them. It’s is not enough to update your blogs or even ensure optimised title tags and meta descriptions with links back to your website. Google and other search engines may be evaluating their rankings using social media presence, because brands are using social media. Been active on social media could be an indicator as a “brand signal” to search engines that your brand is legitimate, credible, and trustworthy. That means, if you want to rank for a given set of keywords, having a strong social media presence could be a key factor to this.
9. Better Customer Experience
Ensuring the customer has a good experience can be priceless to any brand or business. Through interaction and value added content on social media is an opportunity to publicly demonstrate your customer service level and enhance your relationship with your customers. If a customer complains about your product or service on social media platforms, you can immediately respond to their comment. It’s a personal experience that lets customers know you care about them.
10. Gain More Customer Insights
Social Media insight give businesses so many more opportunities to understand they type of customers they are attaching and gain a deeper insight into what they are looking at. The key to success is knowing your audience. Social media makes this possible, and easier to accomplish than ever. With tools like Facebook and Twitter Insights you can learn the dominant languages spoken among your social media audience, as well as their age and gender. This knowledge can help you cater campaigns and product offers to your target audience, which will provide you a better return on investment.
Social Media network usage over the past five years and can see a large increase in Active users online using social media. This may also be of use for students gathering information on Social Media for assignments.
In a report on Social Networking Quarterly from IPSOS MRBI (Appendix 4) it shows the largest Social Media penetration in the Irish Market: Facebook 61%, Twitter 29%, LinkedIn 24% Google+ 24% Instagram 18%
Social Media Platforms play an important role in how businesses target audiences make decisions. In a report published by (Nielsen 2015) 60% of consumers researched products through multiple online sources learning about a specific brand or retailer through social network sites. Consumers are more likely to read reviews online with 3 out of 5 creating their own reviews on products and services. Women are more likely than men to review online: 81% female vs. 72% males.
Consumer reviews are a more preferred source of research on a brands product or service. 41% of reviewers say they receive discounts for sharing brand experiences online. Social media users say they trust recommendations from social media networks, knowing that they have come from like-minded people. Consumers now write reviews to help protect others from bad experiences and 1 in 4 say they
share their negative feedback to punish companies.It has been established that 42% of 18 -24year olds expect customer support within 12 hours of a complaint being made through businesses social media platforms. (Nielsen 2015)
Customers are now becoming brand advocates with 53% following brands through word of mouth recommendations, writing reviews and giving acknowledgment to the business for a great experience received. This now show the relevance the consumers have to a brand and the shift in power from the company pushing out their message to the customer who is now in control. (Nielsen 2015)