Benefits of Social Media for Business
What are the benefits of using social media for business? Consider that there are now more than 3 billion using social networks across the globe.
And these people are using social to engage with brands.
Sherpa Marketing found that more people follow brands on social media than follow celebrities. On Instagram alone 80 percent of people follow at least one business.
If you’re not taking advantage of social, you’re missing out on a fast, inexpensive, and effective way to reach almost half the world’s population.
1. Increase brand awareness
With nearly half of the world’s population using social media platforms, they’re a natural place to reach new and highly targeted potential customers.
Think people only connect with brands they already know on social media? Consider that 60 percent of Instagram users say they discover new products on the platform.
2. Humanize your brand
A UK study from Trinity Mirror Solutions found that more than half of adults do not trust a brand until they see “real-world proof” that the brand is keeping its promises.
To connect with customers—and potential customers—you’ve got to show the human side of your brand. How are you embracing your brand values? (Do you even have brand values?) How are you looking out for the best interests of your customers and employees? Does your product really work?
The ability to create real human connection is one of the key benefits of social media for business. We call these Meaningful Relationship Moments. Introduce your followers to the people who make up your company and showcase how existing customers are using and benefiting from your products.
A social media advocacy program can be a great way to humanise your brand.
3.Increase website traffic
Social media posts and ads are key ways to drive traffic to your website. Sharing great content from your blog or website to your social channels is a great way to get readers as soon as you publish a new post
Participating in social chats can also be a great way to increase your visibility, get attention from new people, showcase your expertise, and drive traffic to your website.
4. Generate leads
Social media offers an easy and low-commitment way for potential customers to express interest in your business and your products. Lead generation is such an important benefit of social media for business that many social networks offer advertising formats specifically designed to collect leads.
For example, Renault Europe used Facebook lead ads that allowed people interested in learning more about a new model to book a test drive directly from Facebook, with just a couple of taps.
5. Boost sales
No matter what you sell, social media can help you sell it. Your social accounts are a critical part of your sales funnel—the process through which a new contact becomes a customer.
As the number of people using social media continues to grow and social sales tools evolve, social networks will become increasingly important for product search and e-commerce. The time is right to align your social marketing and sales goals.
For individual sales professionals, social selling is already a critical tool.