How Social Media is Beneficial for Business?

We spend a lot of time on popular social media platforms like Facebook, Instagram, Snapchat, Twitter. While some of us are more comfortable using new and upcoming channels like Clubhouse, Houseparty, or Connected app.

How Social Media is Beneficial for Business?
How Social Media is Beneficial for Business?

How Social Media is Beneficial for Business?

 We spend a lot of time on popular social media platforms like Facebook, Instagram, Snapchat, Twitter. While some of us are more comfortable using new and upcoming channels like Clubhouse, Houseparty, or Connected app. Although the appeal of social media is universal across the globe, there are certain markets that play a very important role in its spread. It's not only in the developed countries like the US, UK or Australia where social media plays a huge role but also in the developing countries. At the same time, it's extremely beneficial to users in many ways. 

 It improves connectivity, keeps us updated about latest news, provides new opportunities of employment, and helps in business development. Currently, there are more than 420 million people in the world who use different social media platforms. Let's discuss how social media helps you in staying connected with your target audience,  maintaining better relations with them, and increasing your profitability. 

  1. Helps people know about your brand

 There is no better medium than social media to make people aware of your brand considering that almost 50% of the global population uses one or the other social media channel. It's natural for people to use brands that are known to them rather than using brands they haven't heard of. People usually prefer to be in their comfort zones, and by choosing known brands they exhibit that trait. On the contrary, they are skeptical about trying new brands, not sure of their quality. For example, a whopping 83% of users on Instagram accepted they discovered a new product on the platform. Whenever a campaign for a product is run on Facebook or Instagram, it improves its ad recall factor by great extent.

  1. Gives your brand a human touch

 Social media creates meaningful relations with your target audience by giving it a human face. You can let your prospective customers meet your company's employees and tell them about how people use your product, and get benefits out of it. Authenticity plays a big role in creating trust which in turn convinces people to go for your product. You need to tell people how you incorporate brand value, how it works in real life, and why 'customers first' is your slogan. 

  1. Making your brand a thought leader

 Of late, there has been a general shift in people's distrust towards government, media, and NGO. But business is one area where still 61% of people have faith. People are looking for information about brands and how it will affect their lives, and social media is the best place for this. Social media gives you an opportunity to position your brand as a thought leader, and a most reliable source of information to know about your business.

  1. It keeps you reminding

 On an average, over 70% of all social media users visit their account at least once, and 49% do it more than one time.  You can choose to post interesting posts and content on your social channels that keeps your prospective customers informed, and whenever they would think of buying a product, your brand will get the first priority.

  1. Brings More Website Traffic

You can attract a lot of organic traffic to your official website through innovative posts, blogs, and articles. The moment you publish useful content on your website, readers begin visiting your site. For example, you can put engaging stories in your Instagram feed, and subsequently navigate your audience to your blogs, or articles. Moreover, by becoming part of an ongoing chat, you can increase your online visibility, make users take notice of your brand, and increase traffic to your website. Don't forget to include the link of your website in the profile of all your social media channels, as it would help those who can get more information about you with just one click.

  1. Create leads

 Social media is an ideal platform to create easy leads for your potential customers to show interest in your products or your business. This is such an important activity for brands that they often come out with specially designed ad formats to create leads.

  1. Improves sales 

Social media channels are the mediums through which a contact eventually converts into a customer. This is known as social selling. As more and more people are switching to social media use, and tools becoming more sophisticated, more people would use social media platforms for searches and e-commerce

  1. Collaborate with influencers

When your friends, contacts, and family members recommend your brand on social media, it positively affects the sales by creating brand awareness and credibility. You can go one step further and hire a social media influencer to promote your brand. They are sort of minor celebrities who have 1000 or more followers. They have a hold over their fans who generally go and buy products that are endorsed by these influencers. One of the most successful examples of influencer marketing is that of Adore Me, the lingerie brand that collaborated with influencers to drive their sales many times more. It's role will become even more important in future as more people will be using social media platforms.