Negosentro.com | What Benefits Will Social Media Bring Your Company? | If you were to randomly look through a register of companies in your neighbourhood, it is unlikely you’ll find more than a few companies that don’t have some sort of presence on social media. The reason why almost all companies opt to use social media is a mix of it having immense benefits for the business and a trend. So, is this widespread adoption of social media justified? Are businesses making full use of social media’s potential? This article aims to analyse the potential benefits of social media and how you can more fully utilize it in your business. Of course, this article won’t be a good replacement for a full course like the social media training online course, but it is a decent first step in understanding the digital space.
The Biggest Advantage: Having a Fast and Reliable Channel to Most of Your Loyal Clients/Customers
If you use social media correctly, you should have multiple incentives to ensure your clients and customers follow/like you on social media. Sadly, most businesses create a social media account they use once in a few months to post a random thing and otherwise leave it alone. This is a gross underuse of social media and makes you lose on a lot of potential revenue. Here’s why you should go to great lengths to ensure you build a decent following on social media:
- You can easily and freely market to a bunch of interested people: do you know how much money you have to spend to ensure you can show an ad for your new product/service to one thousand people? What about showing that ad on a specific tv program or website you know has a viewer-/visitorbase that is predisposed to being interested in your product? A lot. On the other hand, if you have a decent social media following to the tune of thousands, you can advertise to the same number of people for absolutely free. This adds up over time and the money you spend promoting your social media and giving out discounts to followers will look minuscule to the amount of revenue you generate.
- Making your business more relatable, approachable, and your customers more loyal: the first thing you’ll learn when sitting through a marketing 101 course is that it is much harder and costlier to get new customers than to retain new ones. Another thing you’ll learn is that about 20% of your customers (which are classified as loyal) are roughly responsible for 80% of your company’s revenue. Of course, these are generalities and don’t apply to very specific business models, but they hold true for most businesses out there. Your social media pages are a great way to communicate with this loyal segment of your customers/clients, and ensure they are happy with your services and will continue being loyal. The direct communication and feedback facilitated by social media.
More Leeway in How You Run Your Business
Knowing you have a large and active social media following gives you more leeway in how you’re running your business on multiple fronts:
- You can easily introduce new products or changes, and you can be sure a lot of your customers will learn about it immediately. A lot of businesses are afraid of introducing meaningful change because they are afraid their clients won’t learn about them or hate it, and having an active social media means your clients/customers will know about it, and if they hate it, you can be sure they’ll let you know.
- If your primary source of revenue is through your physical store, having a social media means you’re less reliant on your physical location than before. A lot of businesses have failed after they’ve had to move their offices. Being less reliant on your physical store and more on your social media and digital presence means you have way less to worry about.
Great Marketing Platforms
Social media platforms aren’t just places to interact with your customers, but they are an excellent place to place ads and have a sensible and effective marketing campaign running. For example, Facebook gives you tools to place ads that target people of a certain gender, age, or location. Very powerful targeting tools that allow you to effectively market to a certain segment to the population. Marketing on social media is almost always more effective than placing ads on local tv or newspapers. It is a cheap and quick way to put your products/services in front of more people, and you should definitely consider it.