10 Reasons why your business needs Social Media Marketing

There was a time when social media was considered by some as a passing fad. Something that “the kids” were using that businesses could never really benefit from. Over time, the skeptics were proved wrong. There are over 3 billion internet users—and over 2 billion of them have active social media accounts.

Popular social platforms have become marketing giants, offering businesses valuable data about their customers and a (mostly) freeway to reach them. The jury has spoken: social media for business is no longer optional.
If you’re wondering how social media can benefit your business, look no further. We’ve outlined key points below.

Benefits Of Social Media for Business:
1. Gain valuable customer insights
Social media generates a huge amount of data about your customers in real time. Every day there are over 500 million Tweets, 4.5 billion Likes on Facebook, and 95 million photos and videos uploaded to Instagram. Behind these staggering numbers is a wealth of information about your customers—who they are, what they like, and how they feel about your brand.

2. Increase brand awareness and loyalty:

When you have a presence on social media, you make it easier for your customers to find and connect with you. And by connecting with your customers on social, you’re more likely to increase customer retention and brand loyalty.

3. Run targeted ads with real-time results:
Social ads are an inexpensive way to promote your business and distribute content. They also offer powerful targeting options so that you can reach the right audience. For example, if you run an ad campaign on LinkedIn, you can segment by things like location, company, job title, gender, and age -and the list goes on, If you’re running a Facebook ad, you can target based on location, demographics, interests, behaviors, and connections. You can track and measure the performance of your social ads in real time.

4. Generate higher converting leads:
Social media increases sales and customer retention through regular interaction and timely customer service. MHI Global, world-class companies rated social media as the most effective way to identify key decision makers and new business opportunities.

5. Provide rich customer experiences:
Even if you aren’t on social media, most of your customers expect you to be. Over 67 percent of consumers now go to social media for customer service. They expect fast response times and 24/7 support—and companies that deliver win out.

6. Increase website traffic and search ranking:
One of the biggest benefits of social media for business is using it to increase your website traffic. Not only does social media help you direct people to your website, but the more social media shares you receive, the higher your search ranking will be.

7. Find out what your competitors are doing:
With social media monitoring you can gain key information about your competitors. This kind of Intel will allow you to make strategic business decisions to stay ahead of them.

8. Share content faster and easier:
In the past, marketers faced the challenge of ensuring their content reached customers in the shortest possible time. With the help of social media, specifically when it comes to sharing content about your business or for content curation, all you need to do is share it on your brand’s social network accounts.

9. Geo -target content:
Geo-targeting is an effective way to send your message out to a specific audience based on their location. Social networks like Facebook and Twitter have tools that allow you to communicate the right kind of content to your audience.

10. Build relationships:
Social media isn’t about blasting your company’s sales pitch on social, it’s a two-way channel where you have the opportunity to enrich relationships with your customers. For example, social media allows tourism brands to create dialogue with travellers, therefore creating relationships with customers before, during, and after they have booked a trip with the company.

Courtesy: Digital Empowerment & Wealth Creation