Why social media is important for your business?
This informative article will cover the importance of social media, its roles in promoting business, the benefits and cons of social media and social media for your small business.
What is Social Media?
Social media is a web based communication tool that facilitate the creation and sharing of information, ideas, interests and other forms of expression via virtual communities and networks.
Social media has become more popular day by day. It is one of the most significant aspects of digital marketing that aims to provide benefits of reaching millions of users worldwide. If you are one of those entrepreneurs who doesn’t consider the benefits of social media, then you are missing out on a valuable marketing opportunity.
What is Social Media Optimization?
Social media optimization (SMO) is a process of increasing awareness of a brands, products using social media networks.
Social media is known for its enormous benefits, including the popularity of your business, fast access to potential customers, low-cost, interactive, and much more.
Benefits of Social Media for Business
Here are a few common benefits of social media.
Low cost is one of the chief benefits of social media marketing as compared to traditional marketing strategies. The joining of all the social media platforms is free of cost, and you can connect with your customers for free. When your business grows, you can plan to invest more funds for the premium benefits of social media strategies. This free of cost start can give you greater returns.
The benefit of social media is to bring you a lot of customers worldwide. You can reach millions of customers at less cost and time.
Social media can help in increasing traffic and sales of your services. The professional businesses do not consider sales as their primary purpose of using social media strategy, but they strive for connecting with a large number of audience. However, these efforts will result in increased sales.
Easy Check on Progress
Twitter, Facebook, and other platforms offer different tools to check your progress on social media marketing. You can use any such tools to look at the following metrics.
- Number of followers within a specific time. (Daily, weekly, and monthly reports)
- Most liked posts.
- Audience reach and reaction on a certain post.
- Results of paid and organic promotions.
- Comments, suggestions, and much more.
Provides Important Information
Social media will provide you updates on what your competitor business are up to and how you can beat them by using more effective social media strategies. You can easily check what they are posting on social media regarding their services and products. Their popularity among customers can also be checked by comments or reviews. This will help you in improving your social media strategy for your business.
Social media will increase the communication and interaction between customers and your business. The more responsive your brand becomes, the customer will become loyal to your services. These customers will promote your business without getting paid from you. This will not only boost your online reputation but will attract more customers. Regular interaction through social media with your customers will show them your care, and they will start trusting your products.
Social media also helps in providing an easy way for potential customers to express an interest in your business and your products. Lead generation is no doubt has great importance for social media, and the good news is many social media platforms are now offering advertising platform specially designed to collect leads.
Social media is helpful in enabling you to interact directly with people who are already fans of your brand or services, as well as to find new customer. Contrariwise, it also give your customers a direct line to you, the business.
You need to be consistent with staying engaged with your current audience, and communities and let them see you are always there for them when they need. You need to stay active and post relevant content to make sure they respond to your comments and questions on that content.
Cons of Social Media for Business
Nothing is perfect, so social media also have some drawbacks.
Long-Time on ROI (Return on Investment)
The business who use social media strategies needs improved customer base, popularity or their brand, and increase in sales. Social media marketing is not a one-night success, but it will take a long time on showing the return on investment. If you are new in social media marketing, then you must know that it is not a genie who will start granting your wishes instantly.
One of the biggest cons is time consumption while using a social media strategy. You have to spend as much time as you can to see results. If you are promoting your brand on Instagram, then a regular update on news feed will be required. You have to update all social media platforms daily to attract more clients.
The Danger of Negative Publicity
Social media is a popular strategy to promote your business, but it can also cause negative impacts on your business. Your brand/business is completely exposed while using social media, so if there will be a negative review, then everyone can see it.
The internet is full of troublemaker and dishonest competitors who want to see your business flop. They can post negative reviews or feedback to slander your business or services. It can go viral and damage the reputation of your business.
This drawback is in tandem with the above one. When something goes viral, it will be hard to control it. You can’t erase it easily; instead, you have to accept it.
Weakens Brand Voice
If you have a lot of people handling your social media accounts for your business, then there are chances of a difference in brand voice. If you do not consider this, people may lose interest in your business.
Role of Social Media in Business
The role of social media in business is very vast. Social media is responsible for a brand’s awareness online. If you use social media platforms such as Facebook, Instagram, LinkedIn, etc. then the role of the social media will include following things.
- Building a trust relationship between customers and your business.
- Ensuring the online presence of your business.
- Increased traffic and sales of your services.
- Increasing the potential growth of your business.
- Finding more customers.
- Build a community for your business.
- Create a positive online reputation of your business.
- Become your voice to reach millions of customers in a short time.
- Promote your services.
- Updating you on your competitors strategies.
Social Media for Small Business
The importance of social media is the same for both small and large businesses. Here are a few important points that small business can consider while using social media marketing.
- Select the right network, such as Facebook, LinkedIn, Twitter, Snapchat, Pinterest, and Instagram.
- Set a goal for your business.
- Define a strategy to grow your business online fast.
- Start content creation for the targeted audience.
- Hire expert team to manage your social media.
- Engage your audience by posting updates of your business.
- Try to be available 24/7 for your customers.
- Try not to focus too much on paid promotions but the effective services.
- Focus on the needs and requirements of your customers.
- See the metrics weekly to check your business progress.
9 Best Social Media Tools
Hootsuit is the most popular social media management tool. It helps you to track and manage your social media accounts such as Facebook, Twitter and Google+. Over 20% of top companies using Hootsuit to manage their social media network.
Buffer is user friendly social media management tool. This tool provides great insight to help you make the most of your social media marketing efforts. You can schedule your social media posts.
BuzzSumo is popular content marketing tool. Using this tool you can analyze what content perform best for any topic or competitor. You can also find out most shared content and key influencers to promote your content.
4. Sprout Social
Social Sprout is a social media management and optimization platform for all sizes of agencies or companies. You can track your social media activity and schedule your social media posts in multiple networks at once.
IFTT is a easy, free web based service that helps you connect all of your different apps and devices. You can create an applet for your favorite apps like Gmail, Facebook, Pinterest, or Instagram. Applet is a chain of simple conditional statements.
TweetDeck is a simple and fully-featured dashboard for your twitter account. This tool helps your to organize your feeds, notifications and messages. TweetDeck is owned by Twitter.
Feedly is news aggregator application for web browser and mobile devices. More than 15 million people using Feedly. You can organize, read and share content of your favorite sites.
Nuvi is a real-time tracking, analytics and data visualization platform for social media. This tool gives you great insight in real time to listen to news feed, blog and social media channels.
Canva is easy to use graphic design tool. The tool combines a drag-and-drop design tool with a stock library of photographs, illustrations, and imagery.
Social Media for Business Marketing
I hope this article will help you understand the importance of social media for your business. No doubt, everything comes with benefits and disadvantages, so it is crucial to figure out every aspect according to your business needs and requirements. No two strategies could be the same, so make sure you never copy someone else’s marketing strategy, because maybe your business needs are different from others.
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