The Top 8 Benefits Of Social Media Marketing
To some entrepreneurs, social media marketing is the “next big thing,” a temporary yet powerful fad that must be taken advantage of while it’s still in the spotlight. To others, it’s a buzzword with no practical advantages and a steep, complicated learning curve.
Because it appeared quickly, social media has developed a reputation by some for being a passing marketing interest, and therefore, an unprofitable one. The statistics, however, illustrate a different picture. According to Hubspot, 92% of marketers in 2014 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites. And according to Social Media Examiner, 97% of marketers are currently participating in social media—but 85% of participants aren’t sure what social media tools are the best to use.
This demonstrates a huge potential for social media marketing to increase sales, but a lack of understanding on how to achieve those results. Here’s a look at just some of the ways social media marketing can improve your business:
Increased Brand Recognition
Every opportunity you have to syndicate your content and increase your visibility is valuable. Your social media networks are just new channels for your brand’s voice and content. This is important because it simultaneously makes you easier and more accessible for new customers, and makes you more familiar and recognizable for existing customers.
Improved brand loyalty
According to a report published by Texas Tech University, brands who engage on social media channels enjoy higher loyalty from their customers. The report concludes “Companies should take advantage of the tools social media gives them when it comes to connecting with their audience.
More Opportunities to Convert
Every post you make on a social media platform is an opportunity for customers to convert. When you build a following, you’ll simultaneously have access to new customers, recent customers, and old customers, and you’ll be able to interact with all of them. Every blog post, image, video, or comment you share is a chance for someone to react, and every reaction could lead to a site visit, and eventually a conversion. Even if your click-through rates are low, the sheer number of opportunities you have on social media is significant.
Higher conversion rates
Social media marketing results in higher conversion rates in a few distinct ways. Perhaps the most significant is its humanization element; the fact that brands become more humanized by interacting in social media channels. Social media is a place where brands can act like people do, and this is important because people like doing business with other people; not with companies.
Additionally, studies have shown that social media has a 100% higher lead-to-close rate than outbound marketing, and a higher number of social media followers tends to improve trust and credibility in your brand, representing social proof. As such, simply building your audience in social media can improve conversion rates on your existing traffic.
Increased Inbound Traffic
Without social media, your inbound traffic is limited to people already familiar with your brand and individuals searching for keywords you currently rank for.
Decreased Marketing Costs
According to Hubspot, 84% of marketers found as little as six hours of effort per week was enough to generate increased traffic.
Richer Customer Experiences
Social media, at its core, is a communication channel like email or phone calls. Every customer interaction you have on social media is an opportunity to publicly demonstrate your customer service level and enrich your relationship with your customers.
Improved Customer Insights
Social media also gives you an opportunity to gain valuable information about what your customers are interested in and how they behave, via social listening.
These are the benefits of sustaining a long-term social media campaign, but if you’re still apprehensive about getting started, consider these points:
· Your Competition Is Already Involved
· The Sooner You Start, the Sooner You Reap the Benefits
· Potential Losses Are Insignificant