The facts speak for themselves! There are over 3 billion users who use internet around the globe and 2 billion of them have active social media accounts today. Now huge social media platforms are no longer optional but have become a necessity as they are intensely used as marketing tools by businesses. Different industries use these platforms to acquire a large amount of customer data and as an efficient way to interact with them. So let’s examine some pointers that details the benefits social media has in store for businesses.
1.Acquire valuable customer insights
Social media produces monstrous amount of customers’ data in real time. Statistics report each day there are around 4.5 billion likes on Facebook, 500 million tweets, and 95 million videos and photos uploaded on Instagram. These eye-popping numbers are enough to generate important information about customers such as who they are, what do they prefer, and what are their opinions regarding a particular product.
Through daily online engagement with their target market, businesses register mandatory customer data including customer sentiment, current conversations involving your brand, generated real-time reports, etc. This data further facilitates them in making effective decisions.
2.Enhance brand loyalty and awareness
When you are available on a social media platform, your customers find it convenient to locate and interact
with you. While by regular connecting, your chances of increasing the brand loyalty and customer retention rises considerably. As per the study of The Social Habit, around 53% of Americans are more loyal to those brands they follow on social media.
3.Run social ads with real-time results
Running social ads is a greatly inexpensive and effective way to market your brand and distribute content. These ads also provide solid targeting options so that a business is directed to its intended audience. For instance, running an ad campaign on LinkedIn allows you to use different variables like age, gender, location, job title, company, and many more. While if an ad is to run on Facebook, you can target according to location, interests, demographics, behaviors, and connections. Another benefit is you can track and measure your ad’s performance in real-time.
4.Produce better converting leads
Ability to increase sales and retain potential customers is largely influenced by regular social media interaction and timely service to the right audience. According to the 2015 Sales Best Practices Study conducted by MHI Global research institute, elite and top-performing companies have stated social media is the most effective platform to catch key decision makers and emerging business opportunities. While State of Social Selling in 2015 stated that almost 75% of the companies that used social media as the selling medium registered an increase in sales over the course of 12 months.
