A social media platform is no longer just a place to share pictures. In the current era, it is used more to grab the audience’s attention and aid in reaching success. Whether it’s about celebrating the wedding of Katrina Kaif and Vicky Kaushal or congratulating Harnaaz Sandhu on being the 21st Miss Universe from India, social media has become a go-to place for people as well as businesses to share and promote their ideas.
A social media platform today serves no one purpose, but a multitude of functions: people can share pictures, their views, pass information, businesses can sell products and services, connect with their audiences, and many more activities are done on these new-generation channels.
Social media accounts for approximately half of the world’s total population, as it attracts more than 4.48 billion monthly active users from around the globe. That’s a lot of users! Think about how many people you could reach if you shared the content on social media. That may lead to more engagement and attention for your content.
Why are users so obsessed with social media?
- Social Media Can Be Handy, Many people use smartphones to keep up with social media, which are easy to access and use.
- The pace of the trend motivates people to join many social media platforms and track trending content.
- Social media sites are free platforms where people can join and do free marketing to get more engagement for their content.
- Most brands share their latest updates on social media, which is why it’s become a great source of information for the general public.
- Social media gained its popularity largely because of its ease of use and ability to establish friendships. Anyone can create an account and communicate with others for free.
- Social media can also provide financial benefits. After complying with the specific criteria of each social network, content creators can monetize their content.
There are many other reasons why social media has a huge fan/user base.
15 Ways Social Media can Double the Success of Businesses
Social media not only benefits the general public but also businesses of every size and industry. With the ever-increasing demand for on-demand services, businesses are going digital and taking their business online to achieve their goals.
The following are 15 ways social media can assist businesses in achieving success twofold.
- Great source to increase brand awareness
Marketing a brand through social media is an important part of building brand awareness for a business. Almost any content that is added to social media reaches a lot of audiences. It is possible that businesses can gain some customers through this reach.
For businesses, it is crucial to add content that catches the attention of their audiences right away.
- Cost-effective channel
Social media provide a free and organic way for users to register and share content. Businesses of all types have a lot of scopes to market their products/services worldwide without investing any money.
Even though paid advertising is an option on these channels, if a business performs exceptionally well on social media, they have a much better chance of getting more traffic than if they run ads.
- Direct sale options
It’s amazing how far Social Media has come. Today, they provide businesses of all sizes with a lot of opportunities. Most social media channels today offer marketplaces, where companies can select their products/services and add them to a catalog for direct sale to customers.
Direct sales can be conducted via messages, in which the business and the customers connect with one another and transact.
- Better communication with audiences
Whether it’s through messages or comments, businesses today can communicate with their customers via social media from anywhere in the world.
In a single social media channel, businesses can explain the product/services, discuss the scope and prices, and even communicate feedback.
- Higher ROI
If businesses can market their products or services for free and communicate directly with their audiences, the ROI for a business will be significantly higher & more profitable.
With the rise of competition in all fields, businesses can only match their ROI with a unique performance in social media.
- Access to Insights
During the time when traditional marketing predominated, businessmen maintained files manually to keep track of their data. Unfortunately, data often gets lost or misplaced. Additionally, not every insight was calculated. However, companies can now measure how many people they reached, how many engaged and interacted with them, returning visitors, demographics, geographics, and even the psychographics of the audience through social media.
There is also an option to download the insights for the record.
- Advertisement option for faster results
As described earlier, social media offers advertising options that are known for their ability to reach a larger audience faster. A business can choose which audience to target with the advertisement by considering their geographic and demographic information as well as their behavior.
Furthermore, social media advertising is considerably less expensive than traditional methods of advertising.
- Increased conversion rates
By enhancing visibility, businesses have more chances to convert customers. Any blog post, photograph, video, or comment has the potential to attract new customers. Social media marketing provides a company with the opportunity to make a favorable impression.
A brand becomes more personified when it interacts with its customers on social media by sharing content, commenting, and updating statuses.
A recent study published by Social Media Examiner found that 66 percent of marketers experienced lead generation benefits when they spent at least six hours each week on social media sites.
- Convenient competitive research
Social media makes it pretty simple for individuals & businesses to identify their competitors.
Companies can find their competitors and their performance on social media by using hashtags.
- Enhanced trust and credibility
These days, people trust a brand only if they have a social media page followers base. If a brand lacks a good presence on social media channels then it is more likely that they will lose audiences.
- Customer loyalty
As social media provides an option to directly communicate with audiences, they have a good chance to attract audiences, understand their demand, and serve them with the right products & services.
Audiences give reviews & ratings online. This helps to gain the attention of new audiences.
- Understanding customer behavior
With the tracking options in social media, it becomes quite easy to understand the preferences of the audiences. Businesses can know what their audiences like, dislike, what time they are more active, what style or preferences they have. Basically, companies get a chance to know their buyer personas better.
- Remarketing audiences
The saying goes that a business must remind its audience of its existence repeatedly if it wants them to remember it. This can technically be accomplished through remarketing.
Multi-touch retargeting and re-reminding can be done by businesses until a sale is achieved. Pay-per-click advertising on social media makes remarketing easier than ever.
- Better for primary research
Social media is a great way for startups and small businesses to gather information about their audiences. It is easy to determine the audience’s preferences based on their social media behavior.
- Direct Collection of feedback
For any business, feedback plays an important role, as it enables them to understand where their weaknesses lie and to fix those in order to meet the expectations of their audiences.
As many audiences can see and get credit for the business through social media, getting feedback is like icing on the cake. Hence, businesses should strive to get positive feedback.
It’s undeniable that social media has a lot of benefits both for audiences as well as businesses. If one knows how to utilize social media ethically with proper tactics, success will definitely come on the way.
In case your business is seeking the best social media strategy that can help you reach more people and also help you accomplish your goals faster, then you can consult one of our experts who can understand your business, industry, and competition and give your business the best result-oriented strategy.
Furthermore, if you need to develop a social media platform like Facebook, Instagram, etc, then we have a team of experts who can build an easy-to-use social media tool for you using the latest technology.
NOTE – Colourmoon Technologies Pvt Ltd is not associated with any person or brand mentioned above in the blog. The usage of such nouns is made to provide better information to the readers.