Social media can do A LOT for your business these days. Believe it or not, when social media first came about, many thought it was just a ‘fad’ – that it would be forgotten about after a period of time. How wrong were they?! Social media now dominates in so many places today. I don’t know anyone who isn’t using Facebook, do you? Things like Instagram, Twitter, LinkedIn – all these things are now playing a huge part in so many peoples’ daily lives.
An analysis carried out by Altimeter1 found that 38% of organisations had planned to spend more than 20% of their total advertising budgets on social media channels last year. This was a 13% increase on the previous year which shows that social medias presence is ever-increasing!
Another report by JeffBullas2 in 2015 described how of the 3 billion active Internet users, nearly 2.1 billion people have social media accounts. The large array of available social media platforms means there is a huge amount of potential out there for reaching and engaging customers through these digital mediums.
So what are the benefits of social media for a business? There are a plethora of benefits and we’ve outlined them for you below:
Increase awareness of your brand.
By connecting with your customers, old and new, through social media, you are increasing your presence in their day to day lives. According to a study by Yesmail3, over 90% of brands are using two or more social networks so make sure your brand is making use of this free space in which to promote your business.
Social media is a great way to engage the right kind of people for your brand. By having a social media presence where you regularly post updates and engage with customers it becomes an inbound marketing tool through which you can make and collect many potential leads.
How often do you see people complaining about a product or service through social media? I know I certainly see it all the time. Whilst customers might not make a formal complaint, they certainly expect a response back off of social accounts. Statistics from Lithium4 have shown that 72% of customers expect a response within an hour if they make a complaint on Twitter so this is an area in which you can show your great customer service off.
Learning about your customers.
This day in age, people have their whole lives documented through social media. Social media provides real-time data about your customers likes and dislikes, their interests and their views on things like your brand. By finding out what customers like, you are able to better engage and interact with them in future and may build better customer relationships when you tailor to their likes. According to Facebook5, 1.13billion users log on daily! This shows how consistently active users are on a daily basis giving you the opportunity to gain these daily insights.
See what the competition is up to!
This point really cements what social media is about – it gives you an insight into people’s lives and this includes insights into other companies. Company social accounts are generally always public as they want members of the public to see what they have to offer – and this includes you! You are able to assess what competitors are up to and decide whether you need to up your game.
A large number of companies these days use social media to post vacancies within their businesses. LinkedIn is especially popular for this and it allows the company to gain a great insight into the applicants long before they meet them. This applies vice versa also as the potential applicant can gauge what the company is about through their social media platforms.
Increased web traffic.
For many companies, this will be a huge factor in why they are focusing more on social media. By having an active presence in the social world where you are regularly posting and sharing updates, you are creating a brand presence and essentially advertising your company name over social networks. When you peak someone’s interest through a thought-provoking post or story, they are more likely to click into your page and visit your website. According to a report from 2015 by Shareaholic6, social media is now the number one driver of website traffic, responsible for 31% of all referral traffic!
To conclude, if none of these reasons have convinced you about the power of social media and how it can benefit your business, I’m not sure what will!
Let us know if any of these statistics or facts surprised you in the comments.
1Go.pardot.com. 2015. Web. 18 Sept. 2016.
2Bullas, Jeff. “33 Social Media Facts And Statistics You Should Know In 2015”. Jeffbullas’s Blog. 2015. Web. 18 Sept. 2016.
3“91% Of Retail Brands Use Two Or More Social Media Channels”. Adweek.com. 2015. Web. 20 Sept. 2016.
4“Consumers Will Punish Brands That Fail To Respond On Twitter Quickly | Lithium”. Lithium.com. 2013. Web. 21 Sept. 2016.
5Noyes, About and About Noyes. “Top 20 Facebook Statistics – Updated July 2016”. Zephoria Inc.. N.p., 2016. Web. 21 Sept. 2016.
6Wong, Danny. “Report: Social Media Drove 31.24% Of Overall Visits To Sites”. The Shareaholic Content Marketing Blog. 2015. Web. 21 Sept. 2016.