The Impact of Social Media & Why It Is Important
There are more than 3 billion internet users worldwide. Half of the internet users live in a brand new world called social media. People are getting social media addicts day by day spending countless hours on Facebook, Twitter, Instagram and LinkedIn.
Facebook dominates the internet with over a billion users across the world. Twitter counts more than 300 million users and so is the case with LinkedIn, Pinterest and other social media websites.
Social media has a great impact on our daily lives. We share fun, political views, education, brands, business information and a lot more on the social media. Today, every online shopper expects a Facebook page with customer reviews and ratings before making a purchase. Social media is no less than a ditto virtual copy of the real world, sharing daily work routine, fun, reviews, and shopping around. Gone are the days when the websites were enough to gain the customer trust. It has become a business need to have a Facebook page, Twitter account and a LinkedIn profile to survive the competition.
If you are still on the fence, you are leaving great money on the table for no reason. Social media offers a huge opportunity for the businesses to reach the right audience. It is not only the fastest method to reach your audience, but one of the most affordable strategies to target real customers. You can easily target users on the basis of interest, location, age and trends in low-cost as compared to Google network and print media.
Below are some great benefits, highlighting the importance of social media for businesses.
Word of Mouth: The top reason to select an online product out of hundreds – is just because of the recommendations of your friends or contacts in your circle.
Word of mouth is the most powerful and evergreen technique to grow all types of businesses. Word of mouth involves reviews and opinions of the real users. Social media is extremely powerful in spreading word of mouth. Social media is a global network of online users residing in different parts of the world. You could easily reach a global market using social media. Imagine a user, appreciating your product or services having a few thousand friends or followers. Each of his friends sharing the status further expands your reach to the millions. This is the simplest example to spread the word.
Customer Relationship Building: Social platforms like Twitter, Facebook, and LinkedIn are the most effective tools to strengthen customer relationships. Customers feel comfortable with businesses with a social following. It is a great way to gain more trust. You can easily share updates, and convey messages to your customers with real-time feedback and results.
You get a fair chance to engage your audience by sharing interesting content in your niche. Sharing quality content related to your product makes you an authority in your business area. This is not only useful for customer retention, but it generates a loyal following for your business.
Social media is also the fastest way to broadcast your promo offers. If you are lucky to promote special offers at the right time, you can generate lots of sales overnight. We hear many success stories going viral on social media followed by huge profit.
Better Search Engine Ranking: The referral traffic from major social websites has a great impact on the search engines. The referral visitors usually spend more time on the websites with a lower bounce rate. The search engines follow the social signals to determine how popular you are. A website with low social traffic, ranks lower in the eye of the search engines.
Cut marketing costs: Social media marketing has miraculous results for fashion, fun and entertaining products. It is the cheapest and most effective marketing method for online businesses. Digital marketers are spending thousands of dollars to reach the potential customers and expand business throughout the world.
Social media advertising is not only cost-efficient, but offers better conversion as compared to typical marketing methods. Creating a Facebook page will cost you zero dollars. You can easily build a fan base by spending couple of dollars per day to reach your targeted areas.
Famous marketers suggest that every business must spend minimum $1 per day on Facebook to brand themselves. You can easily reach 1000 – 5000 viewers depending on your niche and product by spending a buck per day. If you carefully craft your ad, you can easily generate leads or make direct sales. Facebook ads are fairly cheaper as compared to Google AdWords. Google marketing strictly relies on keywords. There are chances that you may not compete on some keywords even spending $50 or more. However Facebook advertisements are based on the interest of the audience. This helps you to reach out to masses spending three times less than the Google and other marketing mediums.
Conclusion: Ignoring social existence is a huge mistake. It has a lot of potential for businesses of all types and sizes. It is the latest marketing tool to reach out local and international customers by creating a loyal fan base.