Social media was originally created for the main purpose of connecting people. No one had intended for businesses to get involved in the game, but somehow they found their way in. At the click of a button, marketers were able to observe their target audience and study their habits, albeit from afar. Then, in 2007, Mark Zuckerberg introduced Facebook Ads which was the beginning of something beautiful. Businesses were allowed to engage with their users through dedicated pages. They were also given all the juicy insights, data, and stats courtesy of the platform, then allowed to use those to spread brand awareness through advertising. Nowadays, social media has become more business-oriented than people-oriented. The amount of features offered for businesses to cultivate their image and increase their sales is overwhelming and ever-growing. This is to say, social media offers all-around business growth on a silver platter, and here is how.
- Promotes Brand Image
- Builds Customer Loyalty
- Increases Traffic to Websites
- Provides Access to a Huge Clientele Base
- Simplifies Online Shopping for Customers
- Provides Effective Ad Placement
1. Promotes Brand Image
One of the features of social media is customizability. Everything on these platforms is completely customizable. Hidden behind screens, users have complete control over what they show, what they hide, and how they communicate. Of course, this isn’t great if you’re looking for a soulmate. Luckily, as a business, you’re not looking for any deep connections. On social networks, a business is regarded by users as just another user. Here’s where the beauty lies.
Everything you put out, from your bio to your stories and how you interact with your audience feeds into the users’ perception of you. In other words, social media grants unparalleled control over the brand image, enabling businesses to appear exactly how they wish to appear. How does this help with sales? Your brand image is not just how people see you, but it’s also how they speak about you to their friends. An accurate, attractive image draws people in and keeps them there, increasing your customer base. A unique image can also set you apart from the millions of businesses competing for attention.
2. Builds Customer Loyalty
Customer loyalty is one of the higher goals a marketer can achieve. In a world filled with options, people are always looking for the next best thing, be it a cheaper price, a better product, or a special offer. Customer loyalty is defined by a good relationship between a business and its customers that keeps them coming for more. In exchange for the effort you put into cultivating this relationship, your loyal customer will have you as their first option, recommend you to their friends, regularly interact with your social media accounts, and even tolerate some of your mistakes.
Social media plays a big role in cultivating this type of customer-business relationship and building loyalty. Through your page, you can communicate with your customers on a personal level: you can make each of them feel heard and valued. You can post engaging questions, which is what The Beatles’ Instagram account frequently does. You can also show support for your community to create a sense of unity, as several businesses did during the first and second waves of coronavirus. You can host giveaways, share user experiences, comment, like, and repost just like a regular user. All these factors feed into the relationships you have with your customers and positive relationships translate to loyalty.
3. Increases Traffic to Websites
The words ‘online traffic’ can make a marketer’s mouth water and for a good reason: the sales funnel. This funnel dissects how a target becomes a customer and explains how to go about the conversion process. The most crucial part of the funnel is the top. That is where marketers gather as many prospects (potential customers) as they can in order to increase the number of customers they end up with. Let’s say, 50% of those coming into your store end up buying. What’s the easiest way to get more customers? Increase the traffic to your store. In our case, however, it’s a website, not a store. Now, where can you find people who might be interested? Social networks.
Finding your audience on social media is like looking for a game in a hunting reserve. You know your target is out there, but you still need to find a way to capture it. In order to increase online engagement, according to Edge Marketing, you need a great marketing strategy. A successful one will help you draw as much awareness as possible to your brand while earning you the trust of your current audience. The more people you’ve got aware of your existence, better yet, subscribed to your channels, the more visits your websites will get. The more traffic you get, the more sales you’ll make, provided that your products are good.
4. Provides Access to a Huge Clientele Base
You already know that almost everyone has social media accounts, but do you have an accurate figure in mind? In October 2020, DataReportal stated that there were 4.14 billion active social media users worldwide. In January 2021, about 80% of Australia’s population was using social media. That’s approximately 20.5 million users. Imagine these numbers in one place, accessible to you at the click of a button. Guess what, it still gets better than that.
Every user has a social circle and every user within that social circle has their own social circle. Meaning, you don’t have to be liked by everyone to attract significant attention or even go viral. You only need to be liked by a handful of people. If you can give those people enough incentive to share your posts, then congratulations! You’ve just unlocked another section of the population, along with another set of social circles. Before you know it, you’ll have the large customer base and social media following you want and need.
5. Simplifies Online Shopping for Customers
One of the newest social media features is an in-platform shop. On some platforms, the feature is available for business accounts. On other platforms, it’s available for all accounts. The feature allows businesses and users to post their products, along with pictures and prices, in a designated ‘shop’ tab. Interested users can scroll through a one-stop-shop for all online brands or through a specific brand’s catalog. Depending on the platform and the business’s preferences, the user can either complete the purchase on the platform itself or get redirected to the business’s website/account.
Because the shop allows you to upload your entire catalog for public viewing, you don’t have to solely depend on directing traffic to your website anymore. Website traffic is irreplaceable, without a doubt, but have you ever known a business to pass up on a second location? Don’t forget that the shop can be easily accessed without leaving the app which is a huge perk for users. What’s more, platform shops are essentially free advertisement slots. If you upload high-quality, detailed, and attractive pictures of your products, you can effortlessly attract a massive number of customers. Just lay your bait and wait for them to get hooked.
6. Provides Effective Ad Placement
The amount of information collected by social media algorithms is scary. The algorithm takes note of your family and your close friends, the accounts you engage with the most, the hashtags you frequent, the videos you watch and have watched, the web pages you’ve visited, your location, and more. See, algorithms are designed to keep exposing users to their own beliefs, thoughts, and interests. To do so, they gather as much information as they can on people’s habits. When you utilize a social platform’s advertising service, you get to benefit from this collected information.
All you’ve got to do is create an advertisement, place a bid (an amount you pay when a user clicks on your ad), and set your target audience and overall budget. The algorithm then uses its findings to show your ads to the best possible prospects. Keep in mind, while scrolling through their feed, users are already open to receiving new information. When the algorithm puts a product that aligns with their interests in their feed, why wouldn’t they click on the ad? Placement and targeting are crucial to better ad performance, but how do you measure performance, though? Well, every platform has its own analytics suite dedicated to helping marketers make the most out of their ad services.
We’ve spoken at length about how beneficial social media marketing is for a business, yet there will always be more to say. Platforms are constantly developing new features, algorithms are getting better and more accurate, and users are getting more and more connected through ‘explore’ tabs, page recommendations, and profile suggestions. Nevertheless, while all these factors may contribute to your brand’s growth, they can also work in the favor of your competition. Currently, there is space for any business to create an account, upload some content, and grow popular. In the near future, it won’t be as easy for just anyone to walk through the door. The last thing you want is to arrive late to that party which means that you’ve got to start establishing your social media presence. When applied correctly, a social media marketing strategy can take your business to new heights.