Importance of Social media for business growth
Internet has completely changed consumer behaviour and ways in which people conduct their businesses. The significant opportunities offered by social media like lower advertising cost, improved awareness and increased sales have proved that social media has a huge potential for marketers. According to a study, more than 53% of India’s population is online every day on various social media platforms, it could be either for news consumption, socialization or entertainment. This offers a huge opportunity to business owners to implement an effective social media strategy that helps them reach their intended audience. With no limits to the demographic, location or the type of consumer you brand can embark upon various milestones that were previously untouched. Read on to understand the Importance of Social media for business growth –
Allows your business to be omni-present
Even without paying for advertisements, social media platforms like LinkedIn, Twitter, Facebook and Instagram will give you decent organic reach. With the correct technique, your business can be widespread and encountered constantly on various timelines at one single time. With the consumer constantly being online and encountering the brand’s message frequently, conversion rates increase and social media is an excellent tool to do so. It’ll help your brand rack up views and gain better brand awareness.
Creating Brand recognition
Being recognized is the business’ number one marketing goal. Customers are more likely to choose the brand that they come across frequently and recognize and fortunately, social media is an effective tool to do so. Social media holds the ability to get your brand in front of people more easily and quickly compared to traditional media. Furthermore, it gets your audience looking at your brand even when they aren’t thinking about your brand or product.
Social media is also known as one of the biggest virtual mouth-to-mouth platforms. Referrals on social media have built more businesses than anything else. Increasing referrals on social media is indeed an easy technique, one of the many ways is leveraging on social media by running exciting contests. Millions of strategies like ‘share to win’ will enable your brand’s visibility multifold and get millions talking.
Get closer to your customers
Social media bridges the gap between a consumer and a brand. Not only does it help you converse directly with the consumers it brings you in direct contact with their feedbacks that’ll help you improve your product according to their demands. The better the consumer satisfaction, the better the reviews and remember, reviews play a major role in making and breaking a brand.
Understand your competition
The better you know your competition, the better you know how to improve your brand. Social media is the best way you get can get to know what your competition is doing and with precise analysis, you can also analyse their pain points. Once you’ve gathered the data on your competitors, one of the most effective ways to use it is to figure out where there might be voids in their services that your business can fill.These aspects are just the tip of an iceberg, there are thousand of more reasons why your social media is important for your brand. With appropriate expertise and knowledge coupled with various other digital marketing strategies, you can give your business its much needed digital kick-start.