“The first rule of social media is that everything changes all the time. What won’t change is the community’s desire to network.” – Kami Huyse
Social Media has changed the internet completely; in fact, it has changed the whole world and specifically the world of marketing. There’s absolutely no way that you haven’t heard of it yet – yes, we are here to talk about social media and its importance in any business.
Social media refers to the upsurging technologies that help one interact with a group of people. It provides you a platform that helps you to create and share information, ideas, thoughts, opinions, preferences, etc. via the internet. With the use of social media, anything can catch the idea of audiences and become a viral/popular thing gathering huge amounts of views and likes. Social media is the fastest-growing medium of communication and networking, which makes it very important for businesses.
Businesses can reap tremendous benefits by using social media to their advantage. From an enlarged audience to global reach to interact with the audience to measurable insights; all of it can be achieved through social media. Businesses are missing out if they are not interacting with their customers through social media platforms like Instagram, Facebook, Twitter, LinkedIn, etc. because, it’s a powerful way of reaching out to their potential customers. It helps businesses achieve their marketing and branding goals and bring remarkable success and growth to the business.
So, here are some of the reasons why businesses should use social media platform as an opportunity to grow:
- Global Visibility:
Social media is something that attracts the attention of a global audience. It allows businesses to expand their visibility across the globe. By investing very little monetarily, but some amount of effort and time, one could increase their brand awareness to a large extent. In this competitive world, it’s very important for a brand to be visible or else it would just take seconds to wipe off. According to a study conducted by PEW RESEARCH CENTER around 68% of adults are Facebook users, 78% of the teenagers are on Instagram and 45% on twitter. This shows the reach that social media has and the kind of influence it has on the mass audience. So, one must wisely use social media to reach out to their audience and tap the potential of each audience group.
For a long time, businesses have needed something which could turn strangers into potential customers and potential customers into loyal. Finally, social media came to the rescue. Social media helps businesses increase their customer base. It is one of the easiest and most profitable ways of increasing brand awareness. Through social media businesses can help customers discover their services, and ultimately attract more customers.
Another very popular reason to opt for social media marketing is its cost-effectiveness. On the one hand, where print ads and television ads cost large sums of money, social media marketing is effective and costs very less. Any firm, regardless of its budget, has great opportunities to reach out to the public through ads on Google, Facebook, etc. It’s advisable to spend every penny wisely because not every firm can bare huge marketing costs. It’s important for a firm to know who they’re trying to reach, what are the goals they want to achieve and avoid investing in the unhelpful advertisement. Therefore, social media marketing is highly advantageous to businesses in terms of cost-saving methods of advertising.
- Helps businesses go viral:
Your content gets exposed to a new audience once people start liking, sharing and subscribing. People share articles, posts on social media platforms and one might be interested in going through the article shared by their friends, relatives. Framing taglines according to the present situation, using online trends to promote your product could also be one such way of marketing your product. This really helps businesses in gaining secondary customers through primary customers. Going viral on the internet can be a great advantage to the business.
For Example – Volvo asked its fans to tweet #Volvocontest, during other car brands super bowl commercial wherein the participants would nominate a friend or a loved one to win a new Volvo XC60 luxury crossover. Where companies spent crores of rupees to market their product, Volvo cleverly used social media without even spending a penny on marketing. This is the power of social media. When used wisely, it can be a penny saver and a great source for advertising.
- Develop relationship with customers
It’s very important for a firm to understand the wishes of the targeted customers and cater to it. Social media is one such way of understanding, interacting, and analyzing customers’ need.
Social media enables two-way communication allowing both parties to keep their point of view. Communication helps you to win their attention and deliver your brand message.
Social media also acts like a feedback source. Businesses can utilize all the feedback they gather through social media in the form of customer comments and respond immediately to all the queries. This helps them improve their product or service as well.
- Future Planning with Measurability:
Social Media can be used as a tool to gather data and customer insights will can be utilized further in the planning for business development and growth. Customer data and preferences can be tracked to observe buying patterns. Feedback can be measured to monitor the performance of a particular product/service. Customized advertising can be done for each consumer group based on their taste and preference. Also, personalized emails and marketing content can be generated for each consumer to tap their demand and convert them into buyers. Social media provides a huge platform to measure results, monitor statistics and convert data into useful means for future planning and growth of the business.
The market is getting competitive every day. Everyone’s already advertising their product on Google, Facebook, Instagram. Just merely posting photos, videos will not help businesses grow. You have to come out with innovative strategies to grab people’s attention. People will never help you to take a place in the market, it is you who have to make it happen. It all depends on you.