At the turn of the century, Social Media has taken center stage in our lives. It is no longer a platform for people to post random updates of their mundane life. Rather it has been used for various purposes, and Marketing is definitely one of them.
For those not accustomed to it, Social Media Marketing is leveraging different platforms like Facebook, Instagram, Twitter, Pinterest, and more to promote your business.
However, there are far-reaching benefits of Social Media Marketing other than promoting your business. In this article, we will be listing how Social Media helps you in upscaling your business.
1. Cost-effective
As a business owner, the first thing that comes to your mind before implying a strategy is budget. Especially if you are a small business at a budding stage, you would want to grow your business and help it reach out to your target audience. But not at the risk of exploiting your pocket.
This is where Social Media Marketing can be a game-changer.
At the initial stage, setting up a Social Media page literally costs nothing. You can start with that and post some engaging content with relevant hashtags to reach your audience organically.
One of the best strategies to boost your engagement rate in recent times is video content. Instagram Reels and YouTube shorts have occupied the internet feeds of individuals. The reason behind it is that the algorithm is designed to promote video content. Hence, it will increase your reach almost automatically.
Later, you can also use the advertisement tools to boost your page's reach. Or for running a marketing strategy for a dedicated purpose.
Around 71% of marketers worldwide have reportedly seen growth in their business by implying Social Media Marketing. They also call it the most effective yet affordable means of marketing.
2. Improving your brand awareness
Before digitization, companies spent millions of bucks throughout the year on branding. Social Media has made it almost free.
Today, business owners don’t have to buy colossal roadside banners or primetime show slots to create brand awareness. They can simply log on to their social media platforms and address their audience directly.
The only hard work you have to employ in Social Media marketing is creating content that generates engagement. Because engagement is the key to your brand’s exposure online.
Around 91% of marketers have claimed that social media helped them increase their brand’s exposure. All they had to do was create impactful content that would leave a lasting impression on their viewers. As a result, their business gained tremendous exposure.
3. Nurturing leads through customer engagement
Creating engagement on your Social Media is not only crucial for exposure. But it also helps in the process of generating and nurturing leads as well.
If you generate relevant content regularly, it is bound to generate leads at some point. However, how you nurture them into paying customers is a tricky task.
The first thing that you need to understand is people don’t like talking to computers. So, when you reply to an inquiry in the comments section or even direct messages, never use automated tools.
Try to personalize your message and comment as much as possible. This helps the consumers to personify your brand. When someone does that, they try to relate to them personally.
This results in bridging the gap between a consumer and a brand. And it can have a tremendous impact on your sales.
According to 51% of business runners who form a good bond with their customers see steady growth in sales. Even HubSpot claims that businesses with this strategy have a 100% higher lead to close ratio.
In simple words, working on your brand’s voice can help you generate and close more leads.
4. Improved Brand Loyalty
One of the most significant advantages of Social Media Marketing has to be brand loyalty. According to a survey, around 62% of millennials claim to buy things from brands they engage online.
It is seen as a direct correlation. If customers engage with you, they are more likely to buy from you. However, it’s easier said than done. With the growing use of Social Media and the Internet, online competition is growing massively.
This is why you need to employ different tactics to ensure that your customer completes the final step of a sales funnel. And the best way to do this is “make them an offer they cannot refuse.”
For starters, you can ask your followers open-ended questions. This tactic will help you understand your audience better. Then you can also offer them premium discounts, coupons, and offers at regular intervals to ensure that they are not swayed towards your competitors.
Last but not least, imply a giveaway technique to engross your followers in sharing your content with their peers. This technique will effectively boost your follower’s loyalty to your brand. It will boost your branding as well.
5. Market Awareness
Social Media is a two-way street. But very few people understand that.
This lack of understanding can sometimes become the main reason why everyone cannot make the most of it.
If Social Media Marketing allows you to tell people about your brand, then simultaneously, it also presents you with the opportunity to know about your customers as well.
By interaction, you can get to know the interests and opinions of your customers. Once your social Media starts generating engagement, you can segmentize your audience. This will give you a better knowledge of what kind of people interact with your posts. Also, what kind of posts are generating the most engagement.
Further, Social Media is also an important tool to learn about your competitors. Marketers often use it to study their competitor’s strategies. They gather information about what kind of strategies are trending in the
market. Then use this information to come up with something more catching and captivating.
6. Allows you to implement Retargeting successfully
Social Media is a great way to drive traffic to your website. You can write great copies and add proper CTA to take your customers to your website. But still, according to a study, 96% of people won’t buy anything from a website they visit for the first time.
It is only human nature to have second thoughts about a buyer you haven’t purchased with before. But does this means that you lost the customer forever?
Well, yes, you did. Unless you employ the retargeting strategy.
The Retargeting strategy allows you to show your advertisements to those people who visit your website but don’t make a purchase. Utilizing this strategy, you can re-target those customers by reminding them of the cart they left abandoned.
70% of marketers employ this strategy for branding. And it has turned out to be very efficient as well. According to truelist.co, retargeting has a 1046% higher efficiency rate than other advertisement strategies.
Conclusion
Social Media Marketing can open several doors for your business. You need to make and imply the right strategies consistently, and the results will follow.
The name of the game is consistency and relevance. If you don’t provide both of them in an appropriate proportion, your strategy will fail. This is why you require experts like us to guide you through the ebbs and flows.
This is precisely what we do at Metaloop Marketing. We are a Digital Marketing company that provides India's best Social Media Marketing Services. Our experts are known to garner strategies that procure the best results.
So, don’t waste any more time. Contact us now to improve your business’ reach with Social Media today.
