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Increase Your Revenue By Leveraging Social Media Marketing

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Social commerce represents 5% of the online revenue this year, resulting in an estimated $14 billion in sales by the end of 2015. According to the 2008 Cone Business in Social Media Study, 93% of Americans believe that a company should have a presence on social media sites and 85 percent believe that these companies should use these services to interact with consumers. These days most companies have some type of social presence as they use Facebook to share posts, LinkedIn for networking and articles, Instagram and Pinterest to showcase products.

While large businesses may have significant budgets to spend on social media and marketing, smaller-size companies too can leverage the social trends to increased revenue. The following ways Social Media Marketing can enhance your company’s growth:

1. Engagement with your customers

Social media provides platform for genuine engagements with consumers and often these interactions result in Brand authenticity and Brand Loyalty.  It can be used for answering queries, taking feedback and make them feel appreciated by giving them special promotions and discounts which you don’t provide through traditional media. Buyers are turning to influencers on social media to help guide them through the buying process and find what content is worthy of their attention. If a prospect is connected to large number of influencers in your space, they are more likely to buy. Companies can also ask consumers to share their stories and insights on topics related to your sector. In doing so, consumers will feel more connected to you and your brand, and be more inspired to purchase from you.1-CustomerEngagement

2. Integrate Customer Service with Social Media

Edison research says that 42% of consumers complaining in social media expect a 60 minute or less response time whereas another research says that to prevent any negative impact on your brand, stay on top of customer issues by responding to all queries within 12 hours. More or less both the researches imply the importance of brands providing quick response to the customers. If a brand’s customer service is slow then an angry consumer will post a negative review on social media for the entire world to see. Though some extravagant complaints about the company can be difficult to handle, responding in a positive and helpful manner makes a positive impression.If a company lacks enough staff to provide appropriate level of service, multiple social media monitoring tools are available. Additionally, re-share favorable experience posted by the customer.
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3. Get Traffic on your Website

 There are simpler ways of increasing traffic on your website than making a viral video or hiring an expensive marketing agency. Beyond engaging with consumers and responding to their customer service inquiries, your social platforms can be used to generate excitement, interest, and ultimately guide consumers to your e-commerce site. Twitter is just not about getting more followers, but the quality and consistency of your tweets will have a long-term impact on how much traffic will be driven to your site. In other words, don’t underestimate the selling power of hashtags. A good tweet (said to be under 120 words) gives you exposure, leads, conversion even if you have only 100-200 followers. In addition to Twitter , list company’s address and website address on its Facebook page. one can utilize the Like and Feed tools to get as much traffic to the site as possible.Once they click the like button, a link on the site appears in their Facebook feed, and depending on how many friends they have, it could means thousands of  people are viewing your product or service. Blogs also help since new content is offered to the customers through them.

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4. Make an APP

Apps allows Geo-Targeted push notification for e.g. A store could announce a sale on umbrellas coupled with a weather alert to nearby users when it’s predicted to rain soon. They have opened biggest opportunities for businesses to leverage mobile apps to open a whole new world of shopping and engagement opportunities. Smartphones allows access to the company’s store while morning commute, waiting in line for movie tickets and sitting in a doctor’s office. All the activities of customers can be tracked from the moment the user lands on the site. It allows users to be narrowly targeted rather then focusing on them broadly. One reason of bounce rate on website is user finds filling account information too laborious.  Automatic address fill-in allow transactional apps to detect a user’s location and fill in address data.

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By leveraging social media, the Company will have the opportunity to reach a broader range of consumers who just may convert to most loyal customers. Embracing this platform will open new sales channels, followers and fans and allows to generate more revenue.

Image Credits: Google

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