Social media marketing offers the opportunity for your company to create that advantage. This is an area where your company can create incredible value for your customer, showcase your best offerings, and ultimately become a brand people recognize and respect.
Sound too good to be true? Look at what companies like Coke and Dove have done with social media. And they are just a couple examples, small businesses have seen massive success through the creative use of social media marketing as well (like with DollarShaveClub.com’s viral video).
Here are 6 advantages social media offers your company.
Increase Advertising Exposure
One of the fundamental facts about business is that people need to hear about your offering repeatedly before making a purchase. But today, people do not simply head to your site for research, they scour the internet before making a purchase. This is where social media marketing is able to reach out to them.
As a person searches, Google will give more importance to social remarks from other customers. This draws in your prospective customer, exposing them to more of your content, simply because it was shared by other people.
- 90% of all marketers indicated that their social media efforts have generated more exposure for their businesses. –SocialMediaExaminer 2015 Marketing Industry Report
- Social media is viewed as the second-most effective digital marketing tactic for customer retention purposes, behind only email. –TNW
Improve Customer Service
Social media offers a faster way to answer customer concerns and complaints, reducing resolution time considerably. While this is a benefit by itself, it also offers the opportunity to use the best examples of your customer service in your social media marketing.
While it seems self-serving, using a common customer problem in your social media marketing also allows your company to publicly address it on a broad scale, reducing customer confusion and freeing up company resources.
- Engaging customers in real time allows instant engagement when they have a problem.
- Customers are more willing to post a social media message than make a phone call, allowing your company to obtain a broader understanding of customer concerns.
Improve Brand Recognition
When your followers share your content, it increases people’s awareness of your brand. This is especially true if your advertising and brand messaging are engaging and entertaining. This spreads your brand name and message to people that would never see it any other way.
- 52% of online adults now use two or more social media sites. –Pew Research
- 78% of the U.S. population has at least one social networking profile. –Statistica
Gain Customer Insights
People connect with your company to discover more about how you do business, but this is a two-way street. When they connect, your company gains access to a mountain of data including their social media habits, basic demographics, net worth, etc.
This information can be used in both digital and traditional marketing to create better, more engaging ads, giving a huge advantage to your company.
- Facebook insights gives detailed demographics, user interactions, engagements, etc. –Facebook
- Twitter business analytics give detailed follower information such as occupation, buying styles, income, net worth, and more. –Twitter
Raise Conversion Rates
Increasing brand recognition and loyalty, combined with the ability to better understand and serve your customers, leads to a direct increase in conversion rates. People that would never have made a purchase become customers, fans, and eventually lifelong advocates for your company.
- “We see companies who have improved engagement increase cross-sell by 22%, drive up-sell revenue from 13% to 51%, and also increase order sizes from 5% to 85%,” –R “Ray” Wang, CEO Constellation Research
- “Customer engagement is highly correlated to customer loyalty” –Aimee Lucas, VP Temkin Group
The advantages to social media cover all aspects of your business, and are not limited to these 6. Social media marketing is a great way for your company to create and maintain an advantage over your competition, allowing you to establish a more meaningful, informative, and beneficial connection with your customers.
In short – social media marketing gives your company multiple unfair advantages.