How Social Media Marketing Affects Your Business
Do you remember the last time you heard of a major company that didn’t have a Facebook page or an account on LinkedIn? Probably not, because there aren’t many out there. A little over a decade ago, social media platforms started to come to life, and ever since then, businesses have not been the same. They came to the realization that those platforms are where people spend the majority of their time every day, and they started utilizing that to market their brands in unprecedented ways. It’s rather impossible to spend a few minutes on Instagram or Twitter and not stumble upon a sponsored ad or even better, a friend sharing a post from a company. Social media marketing has definitely affected how we do business in more ways than one.
The internet was there quite a while before Facebook and Twitter, but it was never really the same afterwards. Businesses can now leverage social media marketing to drive traffic into their websites, and draw in a lot of people. It’s estimated that, by the end of this year, there will be close to 2.77 billion social media users around the globe. Could you imagine if a tenth of that number learned about your business through the different platforms they use? The great thing about those platforms is the fact that they support different formats like text, video, images, podcasts, and more. This gives you a huge chance to take advantage of a number of mediums to reach millions of people through powerful, shareable content, taking your business to a whole new level.
Improved customer insights
One of the biggest ways social media marketing affects your business is the improved customer insight you’ll get because of it. Platforms like Facebook grant you access to a world of data that would help you understand your customers like never before, which in turn will allow you to improve your strategies to better serve them. Customer also get to share their own insights and opinions on what’s working and what’s not, which is crucial if you want to get ahead in the game –– people like to see their feedback taken into consideration. Between the feedback you get and the complex data you have access to, like age, purchase patterns, and location, you find your business presented with a golden opportunity to truly make a change that would attract more people to your brand.
Better customer service
Even if you don’t use social media as regularly as most people do, chances are you've stumbled upon a customer complaint or inquiry being addressed. You don’t just get to simply market your product, but you also get to handle any and every problem your customers might be facing, and at a much quicker pace. People no longer want to call customer service centers to waste time waiting on the line and then be presented with a routine answer. It’s easier to inbox the brand’s Facebook page or mention them in a tweet. Brands realize the importance of being responsive in their social media marketing plans, and that’s why they respond timely and efficiently, which always reflects positively on your business and image.
Budget friendly advertising
What company doesn’t want to save money? One of the biggest ways your business can be affected by social media marketing is the fact that it’s pretty much for free. Platforms like Facebook, Twitter, or Instagram allows you to post your content on there for no money. This is one of the most important reasons why social media advertising is very popular with almost any business. You don’t need a huge marketing budget to create content on those platforms. You just need professional content creators who know what they’re doing. It’s the perfect way to advertise and promote your brand without having to pay any money –– you could pay extra for some added features like boosting and paid ads, but those are optional if you want to step up your game.
Perhaps the simplest and most relevant way social media marketing affects businesses is how it grants them exposure to different people. You get to think out of the box and use your imagination to create campaigns and ads to engage your audience and pique their interest. If you play your cards right and push the right buttons, you might find thousands of new people who didn’t know your brand yesterday engaging with it today. That’s the power of social media marketing that can make your business a household name if the stars are aligned in your favor.
Excellent customer engagement
Social media marketing helps in not only customer complaints, but also customer engagement. It allows you to develop a relationship based on trust with your audience who wait for your posts and campaigns, which makes them loyal to your brand. And a loyal customer is one that you will want to keep. It also becomes easier to communicate any changes or news concerning your business through the various platforms, and people like to feel involved in the ups and downs of the brands they love.
Better insight into your competition
Social media marketing doesn’t just help you with your own business; it also helps you get a better idea what the competition is up to. It completely changed the dynamic of competition, because your rivals are also using social media marketing and you get to see what strategies they’re using and what new approaches they’re taking with their business. This is very important because you want to stay one step ahead of the pack, and you can do that by checking their daily posts and campaigns. You’ll learn how not to fall in the same mistakes they did and how to trump their successes. But you should know, they’ll be doing the same and waiting for your slip-ups as well.
Regardless of what you think of social media marketing, it has completely changed how business is done and the rules of the game are different now. You have a ton of resources at your disposal that can seriously affect your business and how well it’s doing. The only question is can you do it better than the other guys?