Expert Tips For How Social Media can Positively Impact Your Small Business
Social media is a great way to network, connect and market your small business. It can help you solve issues that you may have with customers before they arise and give you the ability to listen to your customers feedback. All of these things can add up to improving the customer experience.
What is the Impact of Social Media on Businesses?
More than 4.5 billion people use the internet worldwide, which has become a great opportunity for businesses to advertise their products and services globally. From social media platforms like Facebook, Twitter, YouTube, Instagram and Snapchat to apps like WhatsApp, Tango and Viber, the concept of digital marketing is trending nowadays. The importance of social media networks can’t be ignored as with the help of these online platforms one can directly interact with customers for business promotions or even for sales purposes. But before you dive too quickly into using them, you first need to understand that how much impact do these amazing channels really have on your business.
Brand loyalty is a state where the customers have complete faith in the brand, and they purchase the product or service without any persuasion. Brand loyalty faces a lot of challenges from rivals and substitutes. The level of awareness about a brand among people also plays an important role in brand loyalty. Loyalty means repeat purchases, more spending, stickiness to the product/brand, etc. Brand loyalty can be either emotional or rational based.
Learn more about your customers
You can use social media to get a detailed understanding of your customers and their purchasing habits. This information can help you make smarter business decisions, improve product development, and build more valuable relationships with your customers.
When it comes to consumer brands and customer interaction, things have changed. In the past, you had to wait until the company set up an event showcasing their new products and line. This happened maybe once or twice a year. Nowadays, companies are more proactive in interacting with consumers on a regular basis — through social media channels. Customers can connect with brands directly and ask questions about their products.
Increased customer power
Today, businesses are seeing a shift in their relationships with customers. And no, it has nothing to do with Millennials and the younger generations! Over time, social media has allowed a voice to people who previously didn’t have one. Because of this power shift, businesses now seem to be at the behest of their clients and fans. But rather than fear this change of events, businesses should embrace the influence their clients have. Businesses should capitalize on this connection and work towards bringing in more customers and creating more loyal ones.
Attract bigger audience
Social media marketing is a cost-effective and highly targeted way to build your brand presence. Just like traditional media, social media creates a bigger reach of your company in the digital space. Engaging with your audience through promotional posts on social networking sites, direct messages, and even through comments & replies turns the platform into a source of self-promotion for many businesses.
Creates word of mouth
Word of mouth is powerful. And now with social media, word of mouth is instant. Almost 80% of consumers would trust an online review as much as personal recommendations.
Reducing marketing and promotional costs
Social media marketing (SMM) is a kind of internet marketing which involves use of social media sites, blogs and online videos to promote or market a product or business service. It goes through a promotional campaign which shows your products and services, the benefits they provide and the likes.
Reporting and analytics
With social media tracking and analytics tools, you can see the full impact of your social media activities, from follows to engagements right through to purchases. This provides a clear picture of how your campaigns are working, giving you actionable insights into which ones are going to deliver results for you.
Humanize your brand
One of the greatest benefits for businesses of using social media is the ability to create real human connections. For example, communicating with customers via Twitter allows you to have fun and build relationships with individuals – all while improving customer service, driving sales and increasing brand awareness.
Impact of social media marketing on small business
Social media marketing is a great way for small businesses to reach out to their target audience and generate leads. With the increasing number of social media platforms on the internet, it has become easier for small businesses to market their products in different ways.
The biggest advantage of social media marketing is that it allows small businesses to be more personal with their customers than ever before.
Social media platforms like Facebook, Twitter, Instagram and LinkedIn allow you to interact with your customers directly by replying to comments or asking them questions. Social networks also give you an opportunity to share photos, videos and links related to your business which can help you build trust among potential customers who may not know much about your business yet but would like to learn more about it through these posts.
Are you looking to optimize your business with an award-winning social media management agency that can help drive leads, build brand awareness, and attract valuable customers? Maybe you just have some basic questions about digital marketing! Contact us today to get started.