13 Amazing Benefits of Business Marketing with Social Media
In the realm of marketing, success lies in strategically placing content where consumers spend most of their time, and these days, that place is social media. The digital marketing landscape has been revolutionized by the immense power of social media with both large corporations and small businesses leveraging its potential across various aspects of their operations, from boosting sales and marketing efforts to providing customer service and driving online transactions. Herein are top 13 amazing benefits business marketing with social media.
The quest to enhance social media marketing skills has become a top priority for marketing departments worldwide. This form of internet marketing harnesses the vast reach of social networking apps like Facebook, LinkedIn, Twitter, Pinterest and Instagram turning them into invaluable marketing tools.
According to a 2022 Sprout Social study, an impressive 90% of respondents confirmed that they make purchases from brands they follow on social media. Despite this compelling data, it’s clear that many marketers are yet to fully utilize the potential of social data. There is still remaining untapped potentials and rooms for improvement for marketers to excel in wielding this powerful tool called social media.
Who Uses Social Media for Marketing?
Now, let’s explore the diverse user base on social media for marketing purposes. While any business can reap the benefits of business marketing with social media, specific types of enterprises are tailor-made for marketing on particular social platforms. For instance, Facebook and Instagram cater exceptionally well to B2C (business-to-consumer) audiences, while LinkedIn proves to be a prime platform for B2B (business-to-business) buyers. However, in reality, any business can leverage any social platform as long as it aligns with their target audience and the preferred way they consume content. This is the reason the job of social media manager is thriving these days.
Certain businesses have undoubtedly mastered the art of content creation and cultivating a strong follower base. Direct sales companies like Pampered Chef, Park Lane Jewelry and LuLaRoe have honed their skills in this area thereby utilizing social media to showcase their products effectively.
Talking about business marketing with social media, LuLaRoe, in particular has garnered hundreds of thousands of social media followers and even featured in a documentary on Amazon Video. Yet, it’s worth noting that despite their popularity, LuLaRoe’s reputation has faced challenges due to questionable business practices leading to some decline over the years.
13 Ways Boost Your Business Marketing With Social Media:
1. Achieve Viral Success
The first benefit of business marketing with social media is the wide-spread; when your social media posts start gaining likes, comments and shares, they begin to reach new audiences through the networks of friends and followers. Going viral takes this phenomenon to the next level.
As people share your content with their own networks and those networks do the same, your content spreads across the internet thereby accumulating thousands or even millions of potential shares.
This exposure is especially valuable in a world where an overwhelming amount of content is available. Going viral is undoubtedly challenging, but without the power of social media, it would be nearly impossible.
Moreover, being present on social media allows your fans to contribute to this goal. For example, when a TikTok user created choreography for Grammarly’s Youtube ad audio, it sparked a trend with over 100,000 users joining in.
2. Sourcing Compelling Content
Businesses can source content on social media in two essential ways:
• Source ideas: Engage with your followers by asking them what they want or employ social listening to come up with content ideas. Giving people what they ask for ensures that your content will be well-received and shared.
• Source user-generated content (UGC): Organize contests or encourage the use of hashtags to collect UGC that you can share. Involving your followers creates excitement around your brand and provides a library of social posts to share over time.
For example, Canadian meal-kit subscription service GoodFood regularly features its members’ home-cooked meals on their Instagram feed and encourage followers to share their photos using the hashtag #GoodfoodieMoment.
3. Managing Reputation
Even if you’re not actively participating in social media, your customers are likely discussing your brand there. Being vigilant enables you to spot important posts about your brand that allows you to highlight positive feedback and address negative issues before they escalate.
For instance, if people express frustration with a bad customer service experience, you can respond in a polite and professional manner by providing your side of the story. On the other hand, if someone praises your business, show gratitude and draw attention to their kind words.
4. Handling Crisis Communication
Having a crisis plan in place is crucial for companies. Although smaller businesses may not experience a crisis on the scale of a major brand like Starbucks, a small number of shares can still have a significant impact within a tight-knit community or niche.
Remaining silent during a crisis is not an option on social media. Maintaining well-managed social accounts and having a crisis response plan helps ensure that you are ready to engage if the worst occurs.
5. Engaging with Customers and Audience
Another benefit of social media marketing to your business is the provision of platforms and unique opportunity for direct interaction with customers and fans which fosters a two-way communication street. Unlike traditional media with its one-way approach, social media encourages active engagement.
To keep customers and followers engaged, you must actively participate by responding to comments and questions on your social media posts in a manner that aligns with your brand’s identity.
Additionally, utilizing social media monitoring allows you to keep track of what people are saying across various platforms. A prime example of this is Burger King, which not only tweets but also responds to mentions from others talking about the brand.
6. Enhancing Customer Service with Social Media Support
In today’s digital age, customers expect brands to be easily accessible on social media and turn to their favorite platforms for customer service. A staggering half of social media users anticipate receiving responses from brands within three hours of reaching out.
To effectively manage social customer care alongside traditional customer service, utilizing the right social media marketing tools is crucial. A platform like Sparkcentral by Hootsuite streamlines incoming messages across various channels such as social media, email, text messages and live chat.
7. Understanding Your Customers through Social Media Data
Social media is a goldmine of real-time data about your customers. The major social networks offer analytics that provide valuable demographic insights into your audience’s interactions with your brand. This wealth of information empowers you to make informed business decisions and tailor your social media marketing strategy to resonate with your target audience.
8. Tracking Brand Sentiment
Monitoring social media engagements is not only about audience engagement but also about gaining intelligence on your brand’s perception. While it’s great to know how much people are talking about your brand, it’s equally important to understand what they’re saying and feeling about it.
Analyzing sentiment helps you identify any negative conversations surrounding your brand, this will enable you take swift action to address issues and safeguard your brand reputation.
9. Keeping Tabs on Competitors
Understanding what people are saying about your competitors can provide valuable insights into market pain points that you could address to win new customers. By monitoring their activities on social media, you’ll be aware of their product launches, promotions and industry reports that keeps you well-informed in a fast-paced online world.
11. Staying Abreast of Industry News
The online landscape evolves rapidly; falling behind on your part is not an option. Employing social listening helps you stay updated on industry changes that may impact your business and allow you to adapt quickly and remain competitive.
12. Leveraging Targeted Advertising
Social media advertising offers a cost-effective way to promote your business and distribute content. With powerful targeting options, you can reach the right audience and optimizing your budget for maximum impact.
Take for instance Verb energy bars which launched a campaign across all of Facebook’s apps and services specifically targeting a custom audience of U.S. adults. Social ad targeting encompasses factors like demographics, geography, language and online behaviors which enable tailored messages for different customer segments and ensure you pay for precisely the viewers you want to reach.
13. Gaining Insights through Reporting and Analytics
Measuring the return on investment (ROI) of your marketing efforts is often a challenge. However, social media tracking and analytics tools offer a comprehensive view of the impact of your social media activities. From follows and engagements to conversions and purchases, platforms like Google Analytics and Hootsuite Impact track website traffic generated from social media and provide insights into organic and paid social media campaign performance.
In conclusion:
The importance of business marketing with social media listed above are enough to change your mind set to tapping into the vast potential of social media which hosts millions of consumers who actively engages daily. Businesses, regardless of their size or industry can thrive by mastering the art of social media marketing, effectively reaching their target audience and building strong connections with customers in the ever-evolving digital landscape.
