How Social Media Helps Business Growth
Social media is one of the best ways in terms of business expansion. You can reach your potential buyers and let them explore more about your product or service. Social media has become the quintessential element of branding in the digital world.
Effective use of social media turns out to be cost effective and powerful tool when it comes to business growth.As per the surveys conducted, it has been found that, 92 percent of the marketers believe that social media usage is effective in boosting sales and is a vital part in marketing.
About more than 50 percent of the small business enterprises have seen a major growth and increase in sales by using social media tools. Many brands are employing social media for generating traffic, customer interactions, generating leads, closing deals and even customer service.
Small & medium scale businesses can leverage social media and focus more on generating traffic, creating brand awareness and building a community; rather than trying to beat large companies in terms of money, stamina and time.
Have a walk-through to this article and see how social media helps in business expansion and multiplying opportunities for your company.
1. Decide your Platform
This is a first step towards a successful social media strategy. Decide which social media platform you need to use to reach your potential customers.
For e.g. if your brand targets youngsters in the age group of 18-30, Instagram or Snapchat could be good for you.
LinkedIn is the best for connecting with business and corporate users. Facebook ads can increase your mass reach. Twitter is particularly good for connecting with influencers, creating awareness about your brand.
For sharing videos & creating compelling stories about your business, you can use Youtube.
Know your target audience and see where you can spread more awareness about the product or service you are selling.
Create a platform strategy for social media platform which are most relevant to your business. Post religiously about the company and its products so that people get to know and are well-versed with your offerings.
2. Create Brand Awareness
Know that you have created a setup for your online marketing, it’s time to create popularity among the prospects. This will help in creating recognition and form an identity. There are certain tracking metrics that you can use to track down your customer.
Reports show that 60 percent of people said that they discover new product through the social media platforms.
a). Mentions: This will help you to know how many times and where your business name has been mentioned or used.
b). Location: This feature enable you to find your customers’ location; hence providing an opportunity to grow.
c). Impressions: Impression means a number of times post have been viewed or popped up in one’s feed. This will help you to know your brand’s progress.
d). Followers growth: Track down the number of followers and the time taken to gain them. If a certain post attracts more people, create more of it.
e). Leads: What is the total number of leads generated from the social media platforms.
f). Conversion rate: Analyse the conversion rates on leads generated from social media platforms for your business
g). Revenue: To calculate the ROI, track the cost per lead and customer acquisition. The overall revenue growth for your business.
This will help in generating tremendous gain and popularity of the brand among the users. Track and generate traffic using analytics tool to procure a large volume of audience.
Social Media can help you attract the right leads and build strong awareness, which can improve revenues for your business.
3. Sharing Visuals
Visual images play an important role in social media marketing. People mostly get attracted by viewing pictures and videos. So, use more pictures whenever required to drive audience towards your marque.
Create content that is hypnotic and visually stunning. It will get you more shares, mentions and ultimately create business opportunities.
4. Quality Matters
This is an important aspect as quality matters over quantity. Create quality content that will help you in connecting with your audience and expanding your business. Build honest content that will drive your prospects and build relations.
According to Stackla, 86 percent of consumer like authenticity and not fakeness. Businesses that are creating quality content for their customers and offering them true value derive better ROI from social media platforms.
5. Respond to Conversations
It is crucial part in gaining brand awareness and fame. Responding to the comments or messages on the social media to generate leads. Start a conversation like asking a question or doing poll. This is attract audience and keep them engaged with your brand.
Social media is also helping businesses to gather useful feedback from potential customers, take their inputs for improving products & services, as well as provide support to existing customers instantly.
6. Monitor your Competitors
It’s important to have a good knowledge about your competitors. See what audience is saying about them on social media. This is one of the best opportunities to grow ahead of them by finding your competitors’ cons. Mention their pain points and tell how your product can provide the solution. This will help you win more trusted prospects.
Monitoring your competitors on social media implies that you are aware about their products, services and fame in the market. Take this as an advantage and try to beat them by constantly engaging with the leads and producing better products.
If you are not taking the advantage of social media platforms, then you surely are missing on the most inexpensive, fast and efficient way of marketing and reaching almost half the population of the world.
So, start using social media platforms wisely to boost sales and grow your business. Good luck!
