This article will discuss the benefits of social media for business. Social media deserves your attention right now more than ever. There is so much that social media can do for your business. Both short and long term. Food for thought: 59% of marketers are actively using social media. They are using it to generate leads and hit business targets. It is tough to find a brand that is not active on social media. However, there still many businesses who do not see the plus side of social media from a business view. So, you may ask what can social media do for your brand?
So, Here are nine benefits of social media for business.
Benefits of Social Media for Business – The ability to uncover industry trends in real-time
One of the top benefits of social media for business is that it offers business intelligence. How so? Well, it is a transparent space. In other words, business owners can view unfiltered, real-time conversations between fans and brands. If you want to know what a brand is doing or what customers are complaining about, it is all out there in the open. Your fan’s social activity and shared content can also clue you in on industry trends. For example, Instagram hashtags such as #festivalfashion or #summerootd.
If you wish to tap into those trends through social conversations, look no further. Social listening will do the trick. Social media listening is when you analyse conversations and trends happening. However, not just around your brand but around your industry as a whole. Then, you use those insights to make better decisions to market your brand. It works to help you understand why, where and how these conversations are happening. In addition to what people think. Social conversations can clue you in. They can clue you in on everything. From which products your customers love to the areas where your company may be falling short.
More comprehensive competitive analysis
Another benefit of social media for business is that you can watch your rivals. What are they currently promoting? What sort of ads are they running? How does your content strategy differ from theirs? These answers do not have to be question marks. You can do a social competitive analysis to uncover the answers. This will help you to step into a new lane in terms of content or advertising. For example, maybe you notice that they are using lots of Facebook ads. However, their Instagram presence is lacking. In turn, you may explore influencer marketing. Or you could explore user-generated content campaigns. Both will help you to stand out from the crowd.
Provide better customer service
Consumers often go to social media to ask questions and raise concerns. Awkward phone calls or lengthy emails are out. Social customer service is fast and to the point. Giving social customer service means you must have a meaningful, back-and-forth conversation with your customers. Ones that are oftentimes forward-facing.
Prospects, customers and competitors can view how you interact with your buyers. Putting positive interactions out there for everyone to see is a huge plus for any business. It can be in the form of listening to feedback or helping with specific concerns. Social media is the perfect place to provide speedy service. In addition to letting customers know that you are there to lend a helping hand.
Of course, social media is also a great place to get customer feedback. Responding to questions and concerns signals that you care about your fans.
Benefits of Social Media for Business – Curate customer content and stories in a snap
Customer photographs and testimonials go hand in hand. They both create higher engagement and conversion rates. In addition, there is no better place to gather both than on social media. You can do this by monitoring your mentions and tags. This can aid in helping you uncover positive customer interactions.
These interactions you can then share with the rest of your fans. Many major brands often curate customer pictures to use throughout their marketing campaigns. This is exactly why having a branded hashtag is vital. So, ask your customers to tag their content. That way, you can uncover shareable posts that your followers will adore. All the while also making a connection with your customers.
It is no surprise why many brands have their social presence centered around customer experiences. Social proof in the form of customer content shows that you have satisfied customers. However, it also gives your brand a sense of authenticity.
Positioning power over your competition
This may seem like a no-brainer. However, it is very worth mentioning. Simply having an active presence on a social channel represents positioning power for your business. Think about it. For example, say your closest competitor has an Instagram account. One that is splattered in customer photographs, stories and sleek snapshots showing off their product. On the flip side, you have an Instagram profile that is gathering cobwebs.
Not a good look, right? Consistently publishing on channels relevant to your business signals that you are active and open to new customers. Don’t forget the literal positioning power of social media in search engines when someone looks up your brand. Your Facebook or Instagram could be your business’ first impression on a customer versus your website. This once again speaks to the importance of maintaining an active presence.
Build backlinks and a better search engine presence
The SEO impact of social media has been debated for years. That being said, the relatively recent concept of linkless backlinks signals that there is in fact a correlation between social media and search performance. In short, shares and click-throughs via social represent positive search signals to Google.
If nothing else, social can represent a sizable traffic source if granted you are tracking your social traffic via Google Analytics. Do not neglect social media as a content distribution channel. Popular content that scores hundreds of likes and shares can drive serious referral traffic to your site. Particularly when you optimise your social scheduling.
Benefits of Social Media for Business – Appeal to younger, social-savvy customers
To say that social media has transformed the traditional advertising landscape would be the ultimate understatement. Thinking of social media as a sort of hip, ‘young’ advertising channel may seem a bit cliche. Particularly since it is capable of reaching customers of all ages.
That being said, research reinforces that Gen Z is shaking up marketing. They are doing this by responding less and less to traditional advertising. Younger customers are growing up alongside social media. Given that, brands must adapt beyond in your face ads and commercials.
Right now, Instagram is the place to be to reach those younger customers. According to recent social media demographics, the vast majority of users on Instagram are under the age of 30. As younger consumers hop between platforms, brands should likewise expect to experiment with new ad channels.
The popularity of user-generated content, stories and influencers highlights the sort of authentic, experience-focused advertising. Advertising that continually appeals to the younger crowd.
Humanize your brand
Businesses today want to show off their human side. Many brands have benefitted from dropping the act. In addition, getting personal with customers on social media. MoonPie is one of the most popular examples. They adopted a snarky, meme-heavy social media. One that feels like it is run by a teen. Although this type of approach to social is not for every brand. It is not what most customers would expect. As a result, it drives engagement.
Some brands humanise themselves by showing they care about real world issues. In a day and age where half of consumers want to view brands take a stand on social and political issues. Brands like Ben & Jerry’s do a great job of highlighting their human side. Showing off your staff is an easy way to put a face to your brand.
More top-of-the-funnel leads
Lastly, one of the key benefits of social media for business is you can get more leads, plain and simple. There are billions of people already active on social media. In addition, there is zero chance your fans are not already there. Social media allows you to reel in more top-of-the-funnel leads. You can do this by making your fans aware of your brand.
77% of Pinterest users discover new brands. In addition, they make purchases based on what they view on the platform. Social media means that you can introduce your fans to what you are selling. In turn, you can score more sales. These leads may not make purchases directly through social. However, you have made them aware of your brand and this can lead them on the path. The path to buying from you down the line and becoming an advocate.
Social media is vital for brands. Read this article and unlock the benefits of social media for business. If you are not already on social, you need to be. Otherwise, you are truly missing out. We totally agree businesses should not ‘latch onto social media just because’. Instead, businesses should look at the bright side of social media for themselves. They should base this on specific goals that they can act on. The impact of the pros mentioned above varies from brand to brand. However, there is no denying the good that having a social media presence can do for your business.