At one point or the other, critics are always of the opinion that social media is a fad. Some point out that Twitter is not growing as expected, while others say that businesses are not happy with Facebook’s News Feed.
Doubters will always exist and it is possible that the social media platform popular today will be a passing fad tomorrow, Orkut is one example of that. However, social media itself is not a fad. It is definitely here to stay.
There are plenty of statistics that support the view that social media is critical for business. In their sixth annual report on the state of social media marketing, Social Media Examiner published plenty of statistics that established the significance of social media for survival.
In 2013, 86% of marketers agreed that social media is important for business. By 2014, this figure had increased to 92% and the numbers have continued to rise. Among other benefits, 80% of the marketers indicated that using social media effectively increased their traffic.
And even though social media has a myriad of benefits, 95% of marketers, who were surveyed, asserted that investing just 6 hours per week into social media efforts increased business exposure, making it very cost-effective.
We are all well-versed with the fact that every opportunity to syndicate your content can increase the visibility of your brand is valuable. Social media networks are channels to voice your brand’s image and content.
Effectively using social media makes you more familiar to existing customers and introduces you to new ones. Using relevant content can build a bigger audience and lead to higher brand recognition over time. For example, a Facebook user may hear of your company for the first time only because it appeared on his feed.
A study published by Convince & Convert indicates that 53% of American who follow brands on their social media networks are more loyal to those brands than customers who are don’t follow them. Strategic marketing campaigns on social media can influence customers into being more brand loyal.
Successful sales professional Barry Maher has said: “Never forget that it’s all about the customer, not about yourself, your product, or your company, which means that understanding your customers is far more important than anything else about your business.” Social media marketing allows you to do just that and in the process, lets you win customer loyalty.
Using social media networks, you can easily collect data that will enable you to understand and improve your offerings and also enhance overall customer experience. A business sales CRM might prove to be more fruitful in managing the data and tracking and improving customer touch points. But an active business presence on social media could be effective, even without sophisticated software.
Social media marketing has enormous potential to increase sales but marketers need to have a good understanding as to how to wield this tool effectively. Brand recognition, customer loyalty and data collection are just a few of its benefits. And if you have not gone beyond making social media pages for sharing information and advertisements, you are probably lagging behind your competition.