Why your business needs social media in 2018
We all social media – but do you know some of the reasons why it’s such a powerful business tool?
Social media is, for better or for worse, now a permanent part of our online lives. In Australia we spend, on average, over five hours a day online and social media takes up a large part of that time. It is a continually evolving platform for sharing, discussing and generating content, products and news. It’s now considered essential for any business to have a social media profile, and there are many benefits for doing so. Here’s some of the most pertinent ones.
Attracting new customers
Just having a great product or service is no longer enough to guarantee a sale. People view your social media presence as part of entire business, so it needs to be treated as importantly as you would any other aspect of the enterprise. Your social media feed is a reflection of your values and image so use it wisely.
Learn about what your customers want
People aren’t shy about expressing themselves online. This is especially useful when you want to know what your customers – present and potential – are saying about you. Providing your customers with a way to contact your business directly and easily gives a great way to get valuable user feedback that would otherwise cost a considerable amount of money in focus groups and A/B testing.
Increase customer engagement
Studies have shown that the sooner people are responded to online, the more their loyalty to the brand responding to them increases. More than that, interestingly enough, customers who have the experience of being responded to quickly are willing to pay more for your service or product in the future. Brand loyalty is a real thing.
Compared to regular media methods, running a promotion for your products or services through social media is remarkably inexpensive and potentially just as effective. Consider rewarding your followers with an exclusive discount code or offer as a sales incentive.
Stay in touch with your industry in real time
If your business is posting on social media, chances are so are your direct competitors. Following their accounts or reading the social media posts of industry news blogs, is a great way to stay on top of what is happening around your business – and find new opportunities for you to do what your rivals do not.
Targeted advertising is one of the ways social media has an advantage over traditional publishing. It allows you to place ads directly in the social media feeds of people you feel are your target audience. One clever way to use targeted advertising is to direct attention towards people who abandon their shopping carts. It’s estimated that over 70% of online shoppers do not complete a transaction for one reason or another at some point in time, so advertising directly to these people can encourage them to go back and complete the purchase.
Savvy job hunters are gauging a company’s social media presence before applying for open positions, so it would be wise to make your company appear as inviting and interesting as possible through social media. It’s a slightly informal but effective way to get across what makes working for your company a great idea.
As a top social media agency in Brisbane, iFactory lives and breathes social media marketing. Contact iFactory today to see how we can help you promote your business online.