Top 15 Benefits of using Social Media as a Marketing Tool
With the invention of social media, and its rapid rise in popularity, many entrepreneurs are currently participating in social media as a marketing tool.
According to studies and research conducted, 80% of marketers indicated they use social media to increase traffic to their websites, however, another study showed that as much as 85% weren’t sure which social media tools and resources were the best to use.
Well, in this blog, we outline the Top 15 benefits of using social media as a marketing tool for your business or brand.
1. Increased Brand Recognition
Your business’ social media platform is just another valuable avenue for getting your brand’s content out there. It makes your brand more accessible for new customers and maintains your familiarity and recognition with existing customers.
2. Establish Brand Trust & Loyalty
Consumers purchase from brands they trust. A report published by Texas Tech University indicated that a strategic social media plan could influence consumers’ loyalty to your brand. It’s imperative that a company interested in establishing brand loyalty should take full advantage of the resources that social media can offer to connect with their audience.
3. Develop A Long-Term Audience
Growing established connections can be of great benefit to any business - this has become quite simple, convenient, and effective with the invention of social media. As your company grows, so will your followers, and subsequently, so should your sales. Essentially, social media allows any subscribers or followers, you've acquired to be with you forever.
4. Decreased Marketing Costs
One of the most obvious benefits of utilizing social media as a marketing tool is its significant savings in marketing costs. As little as 6 hours of work invested in social media marketing can generate significant amounts of traffic. Platforms, such as Facebook and Twitter, offer relatively cheap paid advertising that allows companies’ budgets to be flexible.
5. Improved & Convenient Customer Insights
Social media now allows companies to gain valuable insight and information into customers’ interests and behaviors. You can monitor and extract information via user comments, or on some platforms, you can measure conversions and construct plans to regenerate revenue.
6. Increased Brand Authority
Due to the fact that social media allows you to interact regularly with consumers, sometimes in real-time, it can build good faith between the business and the customer. In today’s world, most people turn to social media to either praise or rant about your company or product. The more people talking about your brand on social media, the more valuable and increased authority your brand will appear to have to new users.
7. Fine Tune Target Audience
Social media allows you to analyze your competitors and monitor your consumers. It’s important to know who your target audience is, and due to the fact that social media is so rich in data, even if you’re unaware of exactly who your target audience is, it’s relatively easy and cheap to find out.
8. A/B Testing
A/B testing is a means of figuring out the best way to promote your brand online. This is of great benefit because it’s based on advertisements that are statistically proven to perform. It allows companies to easily identify what method works best for them.
Roughly less than 10% of your visitors will convert on their first visit to your website. However, this is where retargeting - made possible via social media, can help significantly. On some platforms, you can target advertisements towards individuals who viewed your site before.
10. Attract Unexpected Customers
The power of social media affords you the benefit of attracting unexpected customers. With its power of easy sharing, referrals, and word-of-mouth, it’s quite common to find social media resulting in indirect sales.
11. Reach A Broad Audience
Social media can be used as a means of mass distribution of your content. Content marketing, such as this, can come in the form of blogs, eBooks, etc. Regardless of the type of content, there’s no doubt that social media allows companies to stretch their content marketing across a broad audience.
12. Faster Than Traditional Media
As compared to traditional forms of media such as radio or commercials, social media as a means of advertising, is significantly faster. Where it may take significant amounts of time and investment to prepare a radio or television advertisement, social media allows you to move your brand much quicker than these traditional means.
13. It’s Real-time - 24/7/365…Sometimes 366
Some of the top benefits of social media are the ability to; keep your brand up to date with real-time events, deliver messages to specific audiences at a desired time, and keep customers and visitors updated in real-time.
14. Enhanced Customer Experience
By being able to constantly engage customers, social media facilitates an enhanced customer experience. Being able to effectively and quickly communicate with your company, especially in real-time as previously mentioned, customers are exposed to a positive customer experience, resulting in increased brand trust and reputation.
15. Real-time Customer Feedback
As previously mentioned, the company’s ability to track customer feedback in real-time is a major plus in social media marketing, not normally found in traditional forms of media. Being able to strategically manage customer feedback, as it becomes available, allows companies to participate in healthy consumer discussion and review.
When done right, social media acts as a proven, effective, and cost-friendly way of boosting your brand’s reputation, conversion, and sales. Check out our other blog, 5 Top Tips For Boosting Social Media Traffic & Conversions. What are you waiting for? The longer you wait, the more you lose.
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