Social Media Marketing is the latest buzzword for marketers who wish to optimize their online presence and increase their sales. It is quickly becoming the most significant part of successful internet marketing strategies owing to the Benefits of Social Media Marketing, and businesses around the globe are discovering methods through which social media can contribute to their success and help them grow their online business.
According to a HubSpot report, 92% of all marketers confirmed that their social media efforts have generated more exposure for their online store. On the other hand, around 80% of them said that social media efforts increased traffic of their company sites.
Incorporating social media marketing strategy in DM campaigns is must in today’s time to ensure effective brand recognition, loyalty and awareness.
What top internet marketing influencers say about Social Media Benefits-
“I use social media as an idea generator, trend mapper and strategic compass for all of our online business ventures.”– says Paul Barron, CEO, Executive Producer + Editor in Chief at Foodable Network.
“Social media is not just an activity; it is an investment of valuable time and resources. Surround yourself with people who not just support you and stay with you, but inform your thinking about ways to WOW your online presence”– Sean Gardner, Forbes #1 Social Media Power Influencer, Keynote Speaker, VP of Digital at the World Communication Forum.
As per a report of Social Media Examiner, 90+ percentages of marketers are currently using social media marketing as an integral part of their digital marketing strategy. You too can enjoy those bonanza advantages of Social Media Marketing by understanding how they can assist your marketing campaigns.
Wish to know how social media benefits businesses? -Below given are the top 10 benefits of social media marketing-
Top 10 Benefits of Social Media Marketing
1.) Effective Brand Recognition & Increased Brand Awareness
- Gaining effective brand recognition is one of the premier marketing goals of businesses as consumers want to buy brands they easily recognize. Admiringly, social media marketing allows you have that kind of brand recognition. Social media benefits for business are huge and that is why it is one of the most powerful digital marketing methods that are used to syndicate content and increase your brand’s visibility and awareness.
- Implementing a target-oriented social media strategy will greatly increase your brand recognition, as this will help you be engaged with a broad audience of potential consumers. It has great benefits over traditional media as with its help, marketers can highlight their brand in front of people in quickest possible fashion.
- Just by investing a few hrs/week, over 90% of marketers claimed that their social media marketing efforts greatly increased exposure of their brands. To get started, you firstly need to create social media profiles for your business. Once you are satisfied with your page, begin interacting with others. This can result out to be one of the important benefits of social media for business.
- You need to pay attention on cover photos of your company’s social profiles, then you can ask employees, acquaintances, friends, business partners, and sponsors to “like” and “share” your social page. Interacting with your content on your social profiles will increase brand awareness and help you build a profitable reputation for your brand.
- Take a look at Nike’s Social Media page
2.) Improved Audience Insights & Better Customer Service-
- Providing effective and satisfying customer services is the ground zero of all the business owners, and they always seek best target mediums that can help them get authentic customer insights so they can use that in providing effective customer services. Social Media makes this easier than ever for the marketers and business owners.
- Social networks allow marketing professionals see and analyze what their potential customers are looking for and talking about, which help them customize their social media marketing campaigns accordingly. It is important for online businesses to use social media to gather consumer information to better cater the needs of their customers.
- Marketers can connect with audiences in the comments and cater their questions and concerns right away. Despite having a customer service department to resolve customers’ issues, it is highly advisable to interact with them and handle issues via a method of communication consumers are used-to use i.e. social media.
- Once customers are assured that in case they have any problem, they will easily be helped; they prefer to take services of that company. There are social media analytics tools, which you can use to know behavioral preferences of your customers, and accordingly customize your customer service to enjoy benefits of social media.
3.) Improved Brand Loyalty & Customer Engagement
- As per Texas Tech University, online businesses that engage with customers on social media channels enjoy better loyalty from their audiences. Their report says, –
“Companies should take advantage of the tools social media gives them when it comes to connecting with their audience. A strategic and open social media plan could prove influential in morphing consumers into being brand loyal.”
- According to Convince&Convert’s study report, 53% of customers who follow particular brands on social media are more loyal to those brands. Different posts that you make on a social media platform are an opportunity to convert your customers. Benefits of using social media for business are empowering as social media helps you have a following on social media and let you have better connection with new customers, old customers and recent customers.
- By engaging with customers on social media, you influence them to be more loyal towards your brand. As per a report of Forbes, 70+% of consumers who receive quick responses on social media say they will recommend that brand to other people too, which increases your fan base.
- Every blog post, status update, image, comment or video, or comment you share on your social media page create a chance for someone to react that ultimately increases your site visits. Social media is considered as the best medium to generate conversation, increase customer engagement, and positive interactions that can ensure conversions.
4.) Increase in Conversion Rates
- Social media marketing lets brands be more humanized by interacting with audiences through social channels, which influence prospects convert and be loyal customers. Benefits of social media marketing result in higher conversion rates in a few distinct ways as social media has a 100% higher lead-to-close rate compared to outbound marketing.
- Social media followers tend to have more trust in your brand, which influences them visit your site to enjoy your products and services. For example, if your target audiences are students, you can offer some social media benefits for students in your social updates that will attract and influence them to use your products or services.
- Having a strong social media marketing strategy will help you generate result-oriented conversation about your brand, related products, and services. Once you start interacting with your audience and make them feel that they are an important part of your business, you can expect conversion from your social media marketing strategy.
- Human interaction plays an important role in developing an emotional connection with prospects. This plays a significant role in establishing a productive relationship with prospects. Benefits of social media in business include some of the most lucrative opportunities to establish human interaction with the prospects that can increase conversion rates.
5.) Growing of Long Term Audience & Increased Brand Equity
- Benefits of social media marketing also include exciting increase in long-term audience and brand equity. The social media followers that you attract through your social profile tend to follow you for long terms, and additionally, they influence more users that will influence sales and increase ROI.
- When your social page has a fan base, it is sure that all your posts about a particular product or service will convert into sales. Wish to know how social media benefits business, imagine a scenario that your social media page has 10,000+ followers who see all your product and service updates that can benefit them and then make a purchase accordingly.
- Increased number of followers and proper interaction with them also aid in increasing brand equity of businesses. Brand equity can be understood as the value of your brand from consumers’ perception. Effective social media marketing strategy helps businesses create positive perception in the mind of consumers and help brand have increased brand equity.
- Social media benefits are directly proportional to quality social media followers and for this; you need to target audiences by using tools of behavioral analytics. Having a strong number of social media followers helps businesses improve worth of their brands in front of media, bloggers, potential customers and investors.
6.) More Inbound Traffic & Improved Ranking in SERPs
- If you wish to target customers outside your loyal customer circle, social media marketing is going to be your real boon. Without social marketing, inbound traffic of your online business is limited to your usual customers, but once you start using social media benefits, you will for sure enjoy more inbound traffic.
- Social media page of your online business is the gateway to website, and it helps marketers ensure more traffic for their sites. Every piece of content posted on social page of your company offers another opportunity to acquire a new customer, as social media is like a melting pot that incorporates different types of people at one place.
- Social media plays great role in improving search ranking of your site as it drives traffic from social media page to your company site. It increases organic reach of your business and influences prospects reach to your site. Use of social media opens your business to a wider variety of versatile consumers and helps your site have better search ranking.
- Social media marketing helps marketers be able to rank in the top positions for their keywords that revolutionize traffic and continue to generate positive results for their online business. Creating high-quality content for your social media profiles will help you have best chance of ranking better in search results.
7.) Identification of Target Audience, Geotargeting, Advanced Targeting & Result Tracking
- Social Media Marketing benefits aid marketers identify who their target audiences are, as social media is so data-rich, you can easily use data analytics tools to analyze your competitors, understand preferences of your consumers, and target different segments and find your target audience in the most competent and conversion oriented fashion.
- Benefits of social media in business also include Geotargeting, in which marketers target people who are within a certain mile radius of their business location. Social media is amongst the very few advertising mediums that can pinpoint people within a 10-mile radius of your exact business location that aid businesses attract more walk in customers and drive more purchases.
- Advanced targeting is another powerful benefit of social media marketing. This helps you target different people with different approaches. This will help you target individuals who follow certain brands On Twitter, while on LinkedIn; you can target people who work in particular kinds of industries. You can even target individuals who search for different keywords with promoted pins on Pinterest.
- One of the prime benefits of Social Media Marketing is its tracking feature. This is how social media marketing benefits businesses track convertible customers and ensure better conversions. Result tracking feature of social media helps marketer measure sales, email subscriptions, website traffic, and effectiveness of their social media marketing campaigns.
8.) Cost-Effective & Better Customer Satisfaction
- One of the most notable benefits of Social media marketing is its cost-effective nature. It is possibly the most cost-efficient part of any internet marketing strategy. Signing up and creating a social profile on different social platforms like Twitter, Facebook, LinkedIn, etc. is free, and even if you go for paid promotions on them, they are also relatively affordable than other marketing tactics.
- Social Media Marketing is very good in ensuring higher ROI for internet marketers, and it is amongst the very few marketing techniques that not only retains customers but also retains budget and business expenses. To your advantages, it is quite result-oriented in ensuring customer satisfaction.
- With paid advertising on social media, you should start small and then as you start reaping expected benefits, you can fine tune your strategy and increase your budget. Having adept professionals to interact with customers on social media also helps you understand your customer in better fashion and ensure better customer satisfaction.
- By acknowledging your customers, and letting them get personalized messages whenever they make a comment on your social pages, you can ensure better customer experiences that ultimately translates into customer satisfaction. Customer interactions on social pages are opportunities to highlight your compassion for your consumers that enhance customer satisfactions.
9.) Enhanced Brand Authority & Thought Leadership
- To let your brand be authoritative, it is must to ensure brand loyalty and customer satisfaction. As we discussed earlier, social media marketing does both quite efficiently, you can be guaranteed for enhanced brand authority now. Answering on social posts and interacting with customers project you as a credible brand and enhance authority of your brand.
- Enhanced brand authority and thought leadership are two of the most important benefits of social media in business, and marketers can easily enjoy this by posting original content and interacting with customers. Satisfied customers spread the positive word about your brand and generally, they use social media to express their opinion and advertise your business.
- Posting original and powerful content about your products and services can make you a leader in your field. You can be a social influencer that will help your company have powerful fan base, enhanced authority and increased thought leadership. Social media is the best place to establish you as an expert.
- When your social media strategy is aligned with your marketing efforts, your expertize will get highlighted. This will influence followers to look upto you that create a relationship with your customers that they value and accept you as an influencer in your field.
10.) Pulling in Unexpected Customers, Repeating Customers & Enhanced ROI
- Social media marketing can even pull in unexpected customers for you. It is one of the most effective mediums, which ensure indirect sales for your businesses. Effective SMM can influence customers who were actually not targeted by you, which is one of the most unique social media benefits for marketer.
- On normal, it costs 6 to 8 times more to secure another client than to keep a present one. One approach to support customer retention and repeating customer is- by connecting with them via social platform. By posting significant substance, remaining dynamic consistently, and developing your associations with your client base, you can be in the mind of your customers, when they need your kind of product or services.
- With an awesome brand, site, and administration, social media marketing can effectively optimize your sales. An entrepreneur can build great incomes even through Pinterest advertizing, then you can expect ROI on your own because of some of the major social platforms- Facebook, Instagram, Twitter, and LinkedIn.
- With a viable social media marketing approach, your business can expand deals, increase sales and enhance ROI. Nevertheless, it requires some serious efforts and expertize to idealize a revenue-generating formula, but once you do that, get prepared to reap bonanza returns from your social media marketing campaigns.
“When you interact with customers on a one to one basis on Social Media, it makes them more loyal. Loyal customers spend more with you, stay with you longer and tell their friends about you”– Dan Gingis, Marketing & Customer Experience Executive.
Social media is going to be one of the best friends that not only makes the marketing ambiance interesting, alive and interactive but also helps in ensuring great profits. You can also be a master in Social media Marketing by joining a Social Media Course.
Now, as the article concludes, just go through over-mentioned top 10 benefits of social media and update me in comments if you can suggest what are the benefits of social media marketing according to you.