Social Media is a real powerhouse. It has proved to be the most ideal marketing tool for small, medium or large businesses. We have also witnessed that social media is ever increasing, has more potential and it may never top. Businesses which don’t use social media are starting to use this tool out of FOMO (Fear of missing out). While it is true that social media is powerful but it is also important to harness that power in the right direction.
Think of social media as an ever-flowing river with rich nutrients and minerals. In order to utilize its full capacity, you have to direct it to your land – use it for proper irrigation, daily activities or other requirements. Also, too much water will spoil your land. Therefore, in this article, we are going to unfold ways in how you can direct and use social media to enrich and grow your business.
Geography: So far, most marketing tools have failed to capture this aspect. When we talk about geography, we are talking about showcasing your products beyond your present location or a particular boundary. Social media gets this very well. You can find out a lot of products in any region of US or Europe or India or Switzerland for that matter. You can use this feature to get new opportunities and unlock new deals for your business.
Customers: With a powerful social media presence, you reach and turn prospective customers into customers for your business. How? When you make a good product, people buy and like it. Your customers post and share this with people on social media. The prospective customers will feel excited to try your product and therefore you have earned a new customer. This is all very subtle but very powerful. These kinds of interactions take place in a hotel, airplane and several other businesses.
Cost: A simple effective solution. The cost of promoting your product and the number of people you reach is directly proportional. However, this is not the case in traditional marketing tools. Adding to this advantage, you can really measure how many reach you have reached and also track the engagement. Let’s say you put up a billboard of your product on a busy street. You have no idea how many people will look at it or you can never measure how many people have actually read the billboard or looked at it and acknowledged it. This is not the case in social media. You can track engagement, tweak your campaigns and use data to help you make decisions that drive traffic to your website or your store (online).
Flexible: Social Media is very flexible. You can easily make last minute
changes or any time to fit your plan and strategy. You can also make budget adjustments and will deliver true value to your business if used effectively. It is not flexible 100% but it is more flexible compared to marketing traditional tools. In today’s ever-changing world, businesses require flexible resources that help them drive things in their favor.
Interconnectedness: You can use Twitter on your mobile, laptop or desktop. You have access to social media from your home, office or on vacation. Social media transcends location once again. You have complete control and understanding of your business in social media. More power to you. This is very important because if you are the decision maker in the organization, you can know what is going on and also you can monitor and fix remotely.
Feedback: Social media opens the gateway for good interactions with customers. It also helps you get feedback on past products/services. Businesses can ask for customer’s opinions on any of their future products/services. Your business can also make good announcements and keep up people with what is going on in their business.
Insights: With so much data, you can derive new insights about your business that will allow you to simplify a certain process or tweak a particular product/service. It can be any insight. It might also be a particular idea is not working or failing. There is lots to learn from social media data. Trust social media, it works wonders for your business.
Brand awareness and loyalty: Social media beats barriers and allows your brand to be more known in the world. As a result of this, sales will increase consistently which will lead to more customers. This will also build brand loyalty. Customers follow brands on social media to express their loyalty and also brands get more exposure and also a competitive advantage over the brand which doesn’t use or have social media.
Opportunity: Social media opens the door to so many opportunities. You can hire people or get new talents through LinkedIn. You can build your brand presence online. You can connect with new suppliers, investors, customers and influencers who will help to grow your business. There is always an opportunity in social media.
Ideas: You may find new ideas from your competitors or other businesses that you can implement and make a better product or offer much better services. Social media is a way to discover new trends that are currently guiding businesses. These trends will influence your business to navigate and venture into new prospects and build a better business altogether.
Thus, these are the 10 reasons to explain why your business needs social media. Read more on our blog to find out more about social media.