The Importance Of Social Media In Business: What You Need To Know

by | Aug 10, 2018 | Social Media Marketing

There should be little doubt how high the importance of social media in business is today. Companies are dependent on internet marketing strategies to bring in more business.
 
Most people are joining social media sites to learn how to use them to find the information they’re looking for. The social media industry is going to grow much bigger in the years to come. Everyone can publish their content online with a few clicks. Can they browse to find brands like yours offering the products and services they need?
 
The social media craze isn’t going to end anytime soon. It’s imperative that you takes advantage of this opportunity now. If you plan for it, you may be able to survive the digital revolution.
 
Every business today should be leveraging social media channels to the fullest extent. They are only going to grow in size, and you can develop influence the more you invest in these platforms.
 
We’re not recommending this to you because it’s the “hip thing to do.” And it isn’t because managing social media is a simple task. We say this because your audience is spending more time than ever browsing social media. Every day, they engage with their favorite brands and connect with them on many levels.
 
Ensure your business’ brand has a golden touch on social media to generate more leads and sales. You can also connect with customers much easier while being able to serve them on a deeper level.
 
A personal approach to your brand’s “social” media will actually make your digital marketing efforts smoother. Over time, your happy customers will become provide social proof of your credibility. Find out what is being said about your company online. This can allow you to actually see where your company is succeeding with customers. And also where you should focus on making improvements.
 
According to a report published by Gartner, 64% of people said that customer experience was more important than price as a factor when it comes to making a sale. This means that social credibility is important for the health of your business. Get satisfied customers to post positive reviews about their experience with your brand.
 
According to a survey by the Timken Group, 77% of customers recommend a company to a friend after they have a positive experience.
 
To compete in today’s business climate, your company has to leverage sites like Facebook, Twitter, and LinkedIn to keep up. This includes creating new advantages ahead of the competition. The number of adults using social media daily was 7% in 2005. Only 10 years later, that number is 69%. Social media use on mobile devices is still seeing as much as 30% growth every year in some areas. Social media management is now critical to maintain company growth.
 
Let’s explore the importance of social media in business by understanding some of the main advantages:

#1: Boosting Brand Awareness

Social media platforms have proven themselves as powerful tools when it comes to growing your brand awareness online. Most businesses who’ve taken the leap have already seen the impact. There may be (even successful) business owners who’ll dismiss social media as a reliable way to build a brand. But that only leaves a wide-open territory for competitors to challenge your efforts.
 
Most experienced marketing professionals agree that social media management has a definite and visible impact on brand awareness. But increasing your brand awareness through social media isn’t exactly rocket science. Let’s check out a few of the main aspects to consider for achieving the desired results:
 
First, Find Your Audience.
Before you begin to focus your efforts on any social network, make sure to do some research first. Find out whether your target audience is even active on the platform. You can find this out by looking online for conversations that are relevant to your industry. A B2B company will likely find the highest audience engagement rates on LinkedIn.
 
You shouldn’t assume what the best platform is (ie. using Facebook for everything) or even follow other similar brands. Make sure your audience is receptive and willing to engage with your content. This is important if you’re going to spend resources to manage it, right?
 
Use Visuals For A Greater Impact.
Figure out where your target audience is likely to be most receptive. Then, it’s time to grab their attention with amazing visual content that catches the eye. Images and videos play an important role in shaping your brand’s image online. They help to promote brand awareness on social media channels easier than only text can do. Visual content has the largest rates of engagement, and is more likely to amplify your reach.
 
Don’t Wait, Create Conversations.
Engaging in social media is all about building connections. That happens by having natural conversations with past and potential customers. Don’t use social media networks for one-way broadcasts of your products and services. You’ll only be able to grab so much attention this way. On social media, you have to reach out to build connections with your audience. It’s best to talk with and listen to your customers if you want to get feedback.
 
Get involved and stay involved. Build a community around your products and services. Your happiest customers will share their experiences with others and add credibility. Showcase your brand’s personality online by conversing, tagging, and mentioning others. This will create a larger sense of purpose behind your message.
 
Make Sure To Measure Your Efforts.
When it comes to digital marketing, you don’t have to shoot in the dark like the old days. Take advantage of, and learn how to use the tracking tools provided by social media platforms. Combine data with external analytics tools like URL shorteners, Google Analytics, and others.
 
You should be measuring your company’s social media activity daily. Use the insights you gain to understand what is working and what is not. This way, you’ll be able to optimize your efforts and build a much stronger brand using social media.
 
Build Authority By Amplifying Your Message.
Brand loyalty and customer satisfaction play a major role when establishing your brand. Within a market and growing a user base, it still all boils down to communication with customers. Customers will see your company engaging on the social media networks they use daily. Especially when replying to their specific questions and posting new original content. This will help to build a positive image of your brand in their minds.
 
If you are interacting with your customers, it proves that your business does care about them. That goes a long way when it comes to increasing your bottom line. Satisfied customers will be vocal about their positive experience with your company. This is free advertising from customers who appreciate your company’s products. If you want to grow the engagement rate surrounding your brand, you need to offer real value.

#2: Increasing Inbound Traffic To Your Website Through Social Media

Spending effort on social media sites will also increase traffic to your website. This is one of the most effective ways to generate targeted leads. You’re giving users a good reason to visit to your website when you share quality content on social media. The more quality content you share, the more inbound traffic you are likely to generate. This method also has much higher conversion opportunities than other platforms.
 
Don’t ignore the power of social media for your business. Your range of influence will shrink to an inner circle of people who are familiar with your brand. By putting in more effort in social media promotion, you’ll be able to create a whole new sales channel. Social media draws in targeted inbound traffic that receive more clicks. And those clicks lead to sales.
 
Having an active blog with original content posted on your website it makes it easier for your brand to stay connected with your audience. Helping them share content on social media networks increases your reach and credibility. You’ll be reaching out to a much bigger audience than your website will draw in the same period of time. Interested readers will like and share your content, follow and support your brand, or become a customer.
 
People who are already searching for your main keywords on social media are fewer than those who aren’t searching at all. Social media helps you connect to the largest untapped market segment you’re after.
 
Invest time and resources into social media marketing and you’ll diversify your marketing efforts in many ways. Serious professionals are more likely to find your website on LinkedIn. A younger audience is more likely to discover your brand on another platform like Instagram or Snapchat.
 
Every piece of social media content you develop will be an opportunity for customers to learn about what you have to offer. They may even provide necessary feedback that you won’t find elsewhere. It’s all about creating high-quality content that you can share with your followers. This will attract more conversion-ready traffic on social media.

#3: Improving Search Engine Optimization Metrics

Every experienced digital marketer knows that there’s a connection between social media engagement and search engine optimization results. Google has confirmed that it uses “social signals” in its considerations for ranking search engine results pages. But there’s still a lot more that goes into it.
 
Higher Chances Of Being Found Through Search Engines.
It’s a known fact that social media profiles can often dominate the front pages of the search engine results. This is true for many brands due to the strength of the signals surrounding the platforms. Developing your social media profiles is one of the best ways to connect with your audience. They work as a doorway to your company’s website and allow you to show your human side.
 
Your brand’s content should not only inform the reader about your products and services. Use content to help customers be more active in conversations that build relationships and increase sales.
 
Reach More People Through Social Media Search.
People don’t always use Google as a search engine when they’re looking to learn about or connect with a brand. Much of today’s search volume has moved beyond Google and into social media platforms like Facebook and Twitter. They host so much unique content that they are their own search engines.
 
These platforms incorporate common features like keyword search, hashtags, and advertising. People on social media platforms search for the type of content you’re publishing on your page. You’re likely to gain some new fans who will want to follow, connect, and do business with you.
 
When users see informative content shared online, they’re often curious about who’s behind it. This may lead them to look for more information on LinkedIn or another platform to learn more. Publish your content in more places to stay relevant and informative.

#4: Increasing Your Conversion Rates

Social media is one of the greatest tools for capturing targeted leads for your business. Social media users are always entering information about themselves and expressing preferences. This helps when targeting your new content and advertisements. Generating high-quality leads is only one part of the equation. Another crucial part will be converting those leads into sales.
 
Generating Social Proof.
Social proof works by establishing brand credibility online. It also provides a sense of reassurance for your prospects. Let them know more about the benefits of your product, without seeming like you are doing any selling. Social media platforms are full of activity that can be social proof on your website to enhance reputation.
 
Someone may comment on your Facebook post praising your company. Share their experience with customers in a similar market so they can learn what to expect. A satisfied customer might tweet to you about how your product changed their life. Connect with them in this public space so their network will also see how you provide a great experience.
 
Capturing User-Generated Content.
Creating great content for your audience on social media is a critical aspect. But is there a better way to develop engaging content than to have your loyal fans make it for you? People who are already following you on social media are more likely to mention you in a positive way. You can feature them on your profile to encourage your audience to take action.
 
User-Generated Content is as good as gold. It performs as a high-quality social proof that increases conversions for your brand.
 
Create this type of feedback by asking followers to share positive experiences. Offer a chance to win a prize, or have their message featured to your wider audience as a trade-off. Your brand is likely to have a larger audience size than most individuals on social media. Many users would be glad to have the opportunity to get some personal praise.

#5: Leveraging Highly Targeted Social Media Advertising

Social media advertising might still be a new field, but it’s still growing faster than ever imagined. Plus, it’s making a lot of business owners rich in the process. Even though Facebook launched its advertising platform in 2005, it still managed to reach $12 billion in ad revenue during the first quarter of 2018. This goes to show that social media advertising is here to stay. Many brands are finding success with experiments in digital marketing and online advertising. They realize that prioritizing social media advertising is a great way to grow across many market segments. It’s also a much lower cost than traditional advertising methods.
 
Reduce Advertising Costs.
Compare social media advertising with more traditional advertising avenues like print media, TV, and radio advertising. Social media is more reliable for reaching the target audience you desire. Not the entire market A traditional advertising firm covers the entire market, which is not targeted. You’re free to grow at your own pace when using social media, but your need to augment your current advertising strategy. Social media marketing is one of the most cost-effective methods available today.
 
Being cost-effective is important when testing new ideas and using targeted ads. This will help you achieve a greater ROI while saving a larger budget for other your other business expenses. By simply investing a little bit of time and money, you’ll be able to significantly raise your conversion rates and execute with a higher return on investment than you can earn anywhere else but word of mouth (which is kind of what social media is!).
 
Targeted Audience Reach.
Traditional advertising doesn’t give you the luxury of reaching out to your audience the way that social media advertising does. If you’re committed to offline advertising alone, you’re taking the shotgun approach. This will likely receive a lower return in the form of sales than your original investment. Using social media advertisements, you can reach out to the most targeted prospects. That will increase your conversions, and result in a greater return on investment.
 
Real-Time Reporting & Analysis.
Knowing if your advertising strategy is successful or not is the main way to improve it. When you’re investing in any type traditional offline advertising model, you can’t review or analyze the performance of your ad campaigns at a granular level. Social media ads will allow you to keep track of how well your ads are performing so you can edit your ad. Or create many ads to test their effectiveness on similar audiences.

#6: Enhancing Brand Loyalty

A lot of businesses believe that increasing their follower count is the most important way to have an impact on social media. That won’t serve any purpose if the followers gained aren’t loyal to your brand or have an interest in the products or services that you sell.
 
If you want to get the most out of your social media marketing efforts, then you should understand how crucial it is for you to focus on ways to increase brand loyalty and follower engagement. If you’re able to create a loyal following, this can provide better engagement and a ready market base for any new product or service offerings you launch in the future.
 
Maintain A Consistent Social Media Strategy.
You’ll want to plan a social media strategy that aligns with your goals in other areas. Content marketing or search engine optimization can help to get the most impact. By identifying key personality traits of your brand and highlighting them, it becomes easier over time to connect to your ideal target audience.
 
One of the most important aspects of social media marketing management is being consistent in your approach. You have to maintain the same “voice” in all your interactions to signal what your organization represents. The content that you create and share online, along with the way you speak with others, should reflect your brand’s unique personality. They remember who to reach out to the next time they need the products or services your company has to offer.
 
Share Value-Oriented Content.
There are specific reasons why your followers decide to become loyal to your brand over time. One of the main ways is by delivering real value to them through sharing high quality and engaging content. Sharing a case study about a happy customer might be even better to some than a 500-word article on how to use a product they don’t already own.
 
The more useful and relevant the content you post is, the more it is likely to be seen, and the more it is likely to be acted on. Planning out how to execute your strategy and deciding which types of content to develop will return a higher conversion. Make sure to spend enough time preparing before you share low-quality content with your audience.
Respond To Inquiries.
You may not be a celebrity to your social media followers, but they still look to you for industry expertise and solutions when they need them. When they approach you with a relevant question, you should get back to them as soon as possible. Give them answers that will build an authority for your brand. Engaged customers will realize that you are the real deal. This proves that your business actually cares about their customers.
 
As a business, you can still search on these platforms using targeted keywords and look for questions that need a response. Don’t just limit your communications to your loyal follower base. Remember to go out there and hunt for questions that have partial answers or no answers. Let others discover your brand this way, naturally.

#7: How to Satisfy Your Customers Even More

Losing a customer for any business is hard, while gaining a new customer is much harder. This is why customer satisfaction should be your highest priority for long-term planning. By using social media marketing to stay in contact with your customers, you’ll have plenty of opportunities to find out what they want. Learn the problems they’re facing, and develop new solutions to better serve them.
 
To please your customers, you’ll have to offer them a customer service experience that is more personalized than other channels allow. Today’s online customers understand that social media networks are a great way to get in touch with brands. That’s why they spend so much time doing research and communicating with others on them!
 
Social media profiles make your brand more approachable and friendlier than a call center worker who is thousands of miles away. Monitoring conversations related to your brand can help you see if customers are talking about your brand, whether good or bad.

Conclusion

The full importance of social media in business can only seen after you apply the methods that we’ve discussed. If done right, social media marketing will prove to be one of the most cost-effective methods for marketing your business in the long run.
 
Paid social media strategies like Facebook Ads are often much cheaper to connect with your target audience than other advertising options. Compare with others like search engine advertising on Google, which can also offer a high return on investment.
 
There are countless ways that social media marketing can impact online sales conversions. They increase brand recognition while creating opportunities for sales. Our team at Digital Logic is committed to helping you do that. Review our pricing page to explore how we can work together. We’ll help your business get better conversions online, as soon as possible.

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