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Top 10 Benefits of Social Media for Your Business

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24th Sep, 2022
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Top 10 Benefits of Social Media for Your Business

Social media is everywhere, and the benefits of social media for businesses are far-reaching. For most people in today’s digital age, social media provides the daily dose of entertainment, news, and socialization. Social media platforms have also become one of the key marketing channels for brands looking to diversify and reach out to a larger section of the population.

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With more and more of the global population consuming social media content, brands must have an effective marketing strategy to connect with the target audience.

This article explores the top 10 benefits and uses of social media for brands and how social media has the potential to improve your business significantly.

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Benefits of Social Media Marketing

Below we list the top 10 advantages of social media for brands and uses of social media as a  powerful tool for marketing your business.

1. Higher inbound traffic

Without social media marketing, inbound traffic for your business is limited to your usual customer base. The people in your loyal customer circle are familiar with your brand and primarily searching for the keywords you already rank for. But with social media incorporated into your marketing strategy, you can reach out to a broader audience and increase your chances of acquiring new customers. For instance, customers in the older demographic will likely search for your business on Facebook, but a millennial may use a different platform like Instagram to search for your products. Thus, distributing your content across multiple social media platforms allows customers of varying age groups to reach your business organically. 

2. Increased brand awareness

Social media platforms allow brands to build a visual identity and improve brand awareness across a larger audience. Your brand visibility increases through consumer engagement via social media. As a result, you become more familiar with your existing customers and more easily accessible to new ones. For example, a frequent Facebook user could learn about your brand after stumbling upon your content in their newsfeed. Likewise, an otherwise passive customer might be acquainted with your brand better after noticing your presence on multiple social platforms. Create social media profiles for your brand, interact with others, and encourage people to engage with your content.

3. Improved brand loyalty

Building a loyal customer base is the foremost priority for any business. Social media is not just about marketing your brand. Customers see social media platforms as a communication channel to connect directly with the business. Since brand loyalty and customer satisfaction are two sides of the same coin, brands must maintain regular interaction with customers and develop a bond with them. Customers who follow brands on social media are more likely to be loyal to those brands, particularly the millennial generation. Since millennials comprise a large chunk of the consumer base, brands must make every effort to implement social media marketing to attract and retain these influential customers.

4. Better customer experience

Creating a voice for your brand through social media content humanizes your business and gives it a persona that your audience can connect with and trust. When customers engage with your social media posts and receive personalized responses, they feel appreciated that you acknowledge their opinions. It shows that you value customers and aim to provide the best experience. Social media is an opportunity to publicly demonstrate your level of customer service and build an enriching relationship with them. Whether a customer has a complaint, a query, or appreciation toward your products/services, social media encourages interpersonal dialog to address the matter for a personal experience.

5. Improved search engine rankings

Search engine optimization (SEO) has traditionally been the most effective way to rank high on search engines and capture relevant traffic. However, ranking algorithms are constantly changing, and Google and other search engines now use social media presence as a significant factor in calculating rankings. Thus, it is not enough to simply post SEO-optimized content and distribute backlinks to drive traffic to your business. Instead, your active presence on social media could be a potential indicator for search engines to recognize your brand as legitimate and trustworthy. As your social media community grows and industry influencers notice you, your content engagement will increase and help you rank better in search engines.

6. Greater conversion rates

Social media increases your brand’s visibility and encourages more conversions. You can access old and existing customers, new customers, and prospective leads by building a social media community. Every image, video, or blog you share is a chance for your followers to engage with your content. Every reaction could potentially lead to a site visit and eventually a conversion. Although not every response will result in a conversion, every positive interaction will increase the chances of conversion. The more you interact online, the more potential customers will begin to trust the credibility of your business. 

7. Lower marketing costs

Social media marketing is a cost-effective digital marketing strategy. Getting started with social media marketing is easy since all you need to do is sign up and create a profile, a free step for almost all popular social media platforms. After that, any paid promotions you choose are a relatively low-cost investment compared to other marketing methods. The cost-effectiveness of social media is an advantage because an investment of as little as one hour per day towards developing content and syndication strategy gives significant returns. Hence, brands can retain a larger portion of their budget for other marketing and business expenditures. 

8. Improved marketplace insights

Social media allows brands to gain valuable information about their customers’ needs and expectations. Regardless of how stellar your products or services are, there is almost always room for improvement. Thus, gaining feedback and making adjustments to keep customers satisfied and have them coming back helps brands grow and stand the test of time. Social media helps achieve this because it offers an unfiltered look at customers’ overall view of your brand and services. Moreover, you can segment your content based on topic, identify which type of content generates maximum engagement, measure conversions, and design a marketing strategy for generating maximum revenue. 

9. Higher brand authority

Regular interaction with customers demonstrates your credibility to other customers. It shows that your business cares about customers’ personal experiences and is available to respond to any queries they might have. Customers are more likely to spread the word of your brand when they are satisfied and typically turn to social media to express their opinions. The more people mention your brand and talk about it on social media, the more authoritative and valuable it becomes to new customers and prospects. You can win half your advertising battle once you have a loyal customer base that enjoys your product or service and is positively vocal about your brand on social media. 

10. Increased revenue

Last but not least, one of the most significant benefits of social media is the revenue it generates for brands. Social media marketing increases brand awareness, and with more people finding your business, the more chances you have of expanding your customer base. Even if the people you reach out to on social media are not interested in your product, they may still talk about you with others who could use your services. You can also make money directly on some social media platforms depending on the type of content you post and what you offer. Besides organically posting social media content to increase revenue generation, you can invest in paid campaigns.

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Karan Raturi

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Karan Raturi is the General Manager of upGrad North America. He has also led various finance, strategy, and operations teams at Wayfair, Kurt Salmon, and IBM.
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Frequently Asked Questions (FAQs)

1What are the top 5 benefits of social media?

Here are the top five advantages of social media: 1. Increased brand awareness, 2. Higher inbound traffic, 3. Improved brand loyalty, 4. Better customer experience, 5. Improved search engine rankings.

2How do brands benefit from social media?

Brands can build and shape their image through social media profiles, promoting their products, highlighting their values and USPs, and creating a personal connection with customers.

3What is a brand image on social media?

Brand image is the customers’ perception of a brand and represents what the brand stands for. It signifies the customers’ beliefs about a brand and how it makes them feel through consistent interaction.

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