The Importance of Social Media in Business

The application of social media for advertising and marketing has taken the word “social” to a whole new level. Social networking sites like Facebook, Twitter, Instagram, Pinterest and so on, are currently being applied as a way for brands and companies to connect, interact and sell to both existing and potential customers. With the myriad of benefits that can be gained from such a marketing campaign, there certainly is no reason they (and you) shouldn’t.

Improved Online Presence

If your business does not have a social media account, then you are missing out on a lot of potential profits. Social networking sites are gold mines for prospective customers and clients, and you can be sure that your competition knows about this and is taking advantage of it already – why get left behind?

By advertising on Facebook (and other social networking sites) for instance, you can get your business right in front of the customer via their newsfeeds. Depending on your preferences and your budget, your business can be advertised to hundreds or thousands of Facebook users every day, which is much better than hoping people stumble across you via Google. Also, when existing customers like your brand and have a pleasant experience dealing with you, they are likely to post about it and share your page and links.

Stronger Brand Authority

A brand’s credibility is of utmost importance for customers, and social media can help you in building its reputation. People view brands that regularly appear in their newsfeeds as more reliable than brands that don’t, and are therefore more likely to transact business with them.

Also, many people turn to social media when they have praises or rants about a brand. Either way, be sure to address the situation properly – show appreciation for the positive comments, and deal with the issues and problems of dissatisfied customers promptly. A responsive and responsible brand generates a feeling of trust, and many customers (along with their friends who’ve seen the posts) can be converted into loyal customers this way. With the increasing number of followers, your trust ratings will start soaring.

Increased Traffic, Conversion, and Sales

Last but certainly not the least, and probably the biggest concern of many businesses doubting the power of social media. Yes, study after study has shown that companies who use social media correctly and creatively generate more leads and turn these into profits. Together with the benefits mentioned above, syndicating great content, offering coupons and codes, have been found to be an excellent way to increase inbound traffic and convert visitors into paying customers.

Social media has indeed become an integral part of the success of many businesses, big or small. Some tend to think that using social media for marketing and conducting business is just another fad that will soon pass. There may or may not be any truth to that claim, but for now, it is one marketing channel that all businesses should seriously consider using.