10 Ways Social Media will Benefit your Business
The first recognisable social media site was created in 1997 called Six Degrees but it wasn’t until the early 2000s that social media exploded with sites such as Myspace and LinkedIn gaining popularity. For many of us, sites like Myspace contain some photos we would rather forget and some questionable hair style choices! However, this significant growth has only accelerated with sites such as Facebook. This is used by over half of the UK population.
Despite the unfaltering popularity of social media there is a consistent question as to the value it can produce. Some view it as an opportunity not fully explored by many businesses, full of potential while others view it as a burden.
Ultimately, how much value social media can add to your business depends on how you decide to use it! Here are 10 ways social media can benefit your business.
1. Build trust with customers
Shared values account for 64% of brand relationships. By building trust with your customers, your business will grow.
2. Build your brand!
Visual branding is essential. Having a signature colour can increase your brand recognition by a huge 80%!
3. Great customer service
Statistics show 73% of consumers are loyal to and buy from a brand because of their customer service! Customers can ask questions, make inquiries and complaints using social media and can be handled quickly, efficiently with very little cost.
4. First impressions matter!
It takes 10 seconds for a person to form an immediate impression of your brand. Social media allows you to judge responses and build a trusted, recognizable brand.
5. Cost effective split testing
Split testing is often time consuming and expensive, digital split testing can provide immediate results and keep your company moving in the best direction possible!
6. Generate business leads
Business to business relationships cannot be underestimated. Neither can generating leads through social media.
7. Increase sales
Consistent upkeep of your social media can improve your business, brand and customer relations which as a result absolutely assist with increasing sales.
8. Personalised Marketing!
When you are able to engage with your market on social media, it is possible to provide personalised marketing. Statistics tell us 56% of marketing professionals have found personalised content to promote better brand engagement.
9. Customers get to know your business
Half of all social media users follow 1-4 brands on average. It takes time and consistency to win over customers on social media but loyalty and consistent branding increases revenues by 23%!
Considering Twitter as one example, studies have found 77% of Twitter users feel more positive about a brand if a company replies to their tweets - something that seems simple could have a hugely valuable impact on your business.
10. Study your competition
It is easier to keep an eye on your competition and their progress. This allows you to remain competitive in your market and continue to stay in the know!
Social media shows no signs of slowing down! Last summer there was 14 times more engagement across platforms and an 18.5% increase in online sales. Social media may seem like a burden but consistency is key for building a trusted brand and a loyal customer base. Some prefer not to use social media, but when it is used correctly it is a marketing platform full of potential.
https://smallbiztrends.com/2013/05/the-complete-history-of-social-media-infographic.html
https://www.avocadosocial.com/latest-social-media-statistics-and-demographics-for-the-uk-in-2019/
