10 Reasons Why Your Business Can't Ignore Social Media
Some businesses are still skeptical about the usefulness and value of social media. But platforms like Facebook, LinkedIn, and Twitter offer targeted advertising and a source of valuable business intelligence. This article outlines ten of the benefits that businesses can gain from using and monitoring social media.
Did you know that 82% of the population of the United States has at least one social media account? And did you know that the average internet user spends 145 minutes per day on social media? If those figures surprise you, you are probably one of the many people who thinks social media isn't worth your time.
Perhaps you believe that social media platforms like Facebook and Twitter are too frivolous for serious marketing and that TikTok is just a kid's platform. If that sounds like you, it might help to know that By 2022, U.S. advertisers are expected to spend over 56 billion dollars on promoting their products on social networks. So, many businesses believe in the power of social media.
However, a sizable percentage of business owners still choose to ignore social media. But, if you're a member of that non-believer group, what are you missing out on? Here are ten reasons why a business can no longer afford to ignore social media.
Perhaps you believe that social media platforms like Facebook and Twitter are too frivolous for serious marketing and that TikTok is just a kid's platform. If that sounds like you, it might help to know that By 2022, U.S. advertisers are expected to spend over 56 billion dollars on promoting their products on social networks. So, many businesses believe in the power of social media.
1. Cost-effective Marketing
Advertising on social media is highly targeted. Also, advertising on social media platforms such as Facebook and Twitter is less expensive than paid search or traditional advertising. As a result, the cost per sale is significantly lower, and the return on investment (ROI) is considerably higher. Plus, there is no cost to set up and post on social media. As a result, you can contact and engage with your target audience for free.2. Increase Brand Awareness
Both small local businesses and large corporations must raise awareness of their products and services. They also need to establish brand recognition and trust. But building brand awareness can be time-consuming and expensive using traditional methods. However, posting on social media provides the opportunity to showcase your products, services, or expertise to a broad audience. And a solid social media presence will help to build trust in your brand.3. Generate Leads
A well-thought-out social media marketing campaign can help you generate a significant number of new leads. And, as previously stated, the cost of generating those leads will be less than traditional methods. However, it is not only through advertising that you will generate leads. Sales leads will also come via the valuable content you post and your interactions with your target audience. In addition, your very presence on social media will also draw attention from potential customers.4. Improve Customer Service
Social media accounts can also be used as customer service portals. You can, for example, answer frequently asked questions, provide product guides, post company announcements, and promote events. You can also respond to customer complaints and criticisms, as well as publicize positive feedback.5. Monitor Your Competition
Are you aware of what your competition is doing? Were you aware that your closest competitor has released a new product? If you monitor social media, you can stay on top of what your competitors are up to and react to market changes faster. You might even be able to take advantage of a competitor's misfortune. For example, consider a scenario in which a customer criticized a competitor's poor service. Then that would be an ideal time to highlight your stellar customer service track record.
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