7 Reasons Why Social Media is Important For Business

7 Reasons Why Social Media is Important for Businesses

Posted on Posted in Brand, Social Media

1. Brand Awareness and Loyalty

When you have a presence on social media, you make it easier for your customers to find and connect with you. And by connecting with your customers you are more likely to increase customer retention and brand loyalty. If you consistently maintain an active social media presence it is more likely that people will notice you and become faithful clients of your brand.

 

2. Valuable Marketplace Insight

Through daily social listening, you can gather relevant customer data and use that information to make smarter business decisions. You can gather Insight analytics across all your social media platforms and find what people talk about with regards to your brand. Therefore you will make wiser market decisions considering your customer’ opinions.

 

3. Specific Targeting

Social media is extremely advantageous due to the highly customisable nature of ads on these platforms. Ads target users by location, education, industry, purchase history, likings, etc.

 

4. Cost Effective

Social media, with its massive reach and devoted core of adherents, may prove the most effective way to promote your business online without investing tons of money.

By positioning yourself on social media you can specifically target your audience. This in-depth-targeting allows you to advertise to the demographics you want to reach. You also get immediate qualitative feedback. Effective use of these platforms can make you save time and money.

 

5. Get Ahead of your Competitors

91% of retail brands use two or more social media channels. Therefore you want to be well positioned in your chosen market. When it comes to social media, it is much harder to play catch up with competitors, so get into the game early. If your competitors get to your potential customers first, they’ll earn their loyalty first and you’ll have a hard time winning them over.

 

6. Social Interaction

This is also a useful tool to communicate with your customers. Encourage them to share their experiences, acknowledge both positive and negative feedback and share useful information with them. You can also respond to problems related to your product right away.

You can get insight into your customers daily lives as well: what they do?, what they like?, what kind of posts they share?, etc. It also allows you to connect with complementary, non-competing businesses, journalist who may cover your story and influencers.

 

7. Thought Leadership

Posting insightful content on your social media is a great way to become an expert and leader in your field. Be communicative, connect with your audience, share content and promote your authority. Being able to directly connect with your customers creates a relationship that they will value, allowing you to become a notable influencer in your field.

 

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