As of early in 2017, there were over 3 billion internet users and 2 billion of them hadactive social media accounts. All popular social platforms have turned out to bemarketing giants by offering super benefits which have made social media mandatory for all businesses.
Here are the top 5 benefits of social media for businesses:
1.GainingValuable Customer Insights:
Social Media generates a big amount of data, of the customers in real time. Every day there are about 500 million Tweets, 95 million photos and videos uploaded to Instagram and 4.5 billion Likes on Facebook. Behind these surprising numbers is a treasure of information about your customers like who they are, what are their likings, and how do they feel about your brand.Through daily social listening and active engagement, you can collect relevant data (of your customers) and then use that information for making smarter business decisions.
2.Increasing Brand Awareness &Loyalty:
When you have a social media presence, you make it easier for your consumers to find you and get connected with you on social media. Research shows that, by connecting with your customers on social media, you are more likely to increase brand loyalty and customer retention.
Social media not only helps you with brand awareness, but it also increases your website traffic. Additionally, the more shares on social media you will receive, the higher your search ranking will be.
Through regular interaction and timely customer service,social media increases your sales and customer retention. According to a study from MHI Global, a research institute, world-class companies rated social media as one of the most effective way to identify key decision makers in the market and find new business opportunities. In the State of Social Selling last year, around 75% of the companies that engaged in selling on social media reported an increase in sales in just 12 months.
4.Sharing Content More Effectively:
In the past, marketers used to face the challenge of ensuring that their content reached customers in the shortest possible time-period. However, today with the help of social media, to share the content about your business, all you need to do is to share it on all the social networks of your brand. This not only applies to your organic reach on social media platforms, but to the paid ones also.
5.FindingOut What Your Competitors Are Doing:
With the help of social media monitoring, you are capable of gaining vital information about all your competitors. This kind of information library will permit you to make some strategic business decisions and will allow you to stay ahead of your competitors.And based on your search results, you can improve your business processes, offer product enhancements, new/customized services, or content that they may be missing.
The benefits of social media are vast, so get on the platforms to test the effect yourself.