Different entrepreneurs have varying views when it comes to social media marketing. To some, social media is the powerful engine boosts business with sales growth as one of its goals. To another cluster, these platforms are a fallacy and waste of time. On their view, trying to implement a social media campaign is a complicated thing or a total waste of resources. As such, it is not a force to reckon with in your organization.
If you are one of the entrepreneurs in the latter cluster, you might be losing a profitable opportunity. In fact, as per recent findings by Hubspot and Social Media Examiner, social media is a central marketing tool for more than 90% of online and digital marketers. But how does social media marketing benefit your business? Read on to know.
Improve your competitive advantage
Like on a battlefield, the secret to staying ahead of your competitors is realizing the tactics and strategies they are applying in their marketing campaigns. While it is hard to discover your competitors marketing tricks, the social media is like an open window to their strategy. Social media gives you an opportunity to peep through your competitor fan pages and see the kind of discussions taking place in them. As such, you get an idea of what they are lacking and include it in your product. By this, you enhance your competitive advantage which keeps you one step ahead of them and stands out in your niche.
Enhance your net worth
In this socially driven era, people are using social media as their first contact before making a purchasing decision. Even if your business has a popular brand, if a customer finds that your social media pages do not match with it, they will be left in a dilemma. As you know, since the people talking about your brands in the physical arena are the same using the social media platforms, if your social following does not reflect the same, your potential customers will start doubting on its quality.
As a result, you will face a decline in sales. In turn, a brand that is not popular and has a large social following may experience a booming conversion rate. As such, given that the current era is socially-driven; your social audience is your net worth. Sizeable social following means more sales and the opposite is true.
Enables your business to remain relevant
Social media gives you an opportunity to stay relevant to your customer. By this, it means you have updated information on changes in your customers’ need and wants. So, when designing your products and services, you customize them to be at par with the current customer’s issues. As such, you continue being part of their day to day lives.
For instance, if you were selling phones, through monitoring the current trends on social media, you can confirm that live videos are now a norm. In this essence, the demand for phones with the ability to capture quality videos is in high demand. As such, you will switch to offering such phones. And your business will remain a reliable and a relevant source for your current and prospective customer.
Creation of new business opportunities
The social media is a chance to receive feedback and comments from your customers. The customers speak out their hearts and feeling on social media. Through the customers’ sentiments, you can know where you are going wrong in your business and rectify it. Also, the customers can suggest new ideas through their comments. As such, through your customers’ social media pages feedbacks; you can develop new ideas and business opportunities.
With this information, now you know why social media pages make sense. Hence, you have a reason for taking your business to social platforms to enjoy the above benefits.
— Social Media Mgmt (@FastTweets) 29 de marzo de 2018