Does Your Business Need Social Media? The Top 5 Benefits You Need to Consider
Updated: Jul 10
Whether you believe it or not, social media might be here to stay. In addition to its social uses, it has sparked a new wave of entrepreneurship and economics as its digital influence spreads into the free market. Whether you are part of a start-up or a well-established business, if you have been unsure about adopting social media or you dismiss the idea altogether and write it off as a trend, there are some powerful benefits you need to consider first. There is a reason why a comparatively small group of people has had such amazing success in utilizing this tool. With a healthy understanding of what social media is and what it isn’t anyone can equip their business to be more successful not just in the short-term, but in the long term as well.
Learn About Your Customers
In the past, big business advertising was somewhat of a one-sided affair. Companies collect information about what they believed their customers wanted and created ads around their ideas. They ran these ads in newspapers and on TV and they would gauge their success on the amount of product that was sold as a result. When an ad was not successful, however, there was often very little information as to why it didn’t reach its customers. Today, social media gives companies the ability to discover the reasoning behind the success or failure of an ad. The amount of feedback that customers are able to share with the creators is unprecedented. People online are clicking, liking, and creating shopping carts. They are leaving comments and adding reviews and taking surveys. The ability to learn what a larger number of customers want, instead of a limited few, is changing the game. It’s allowing companies to create products that suit the needs of their customers, no matter how many customers they serve.
Your Customers Learn About You
As the curtains are coming down and information is everywhere, people are starting to pay attention to the companies that they are buying from. If you are part of a company with a special story or a worthwhile mission, then social media provides a wonderful outlet for sharing that. If you are launching a new product or advertising a sale, you can share that with people right away and allow them to feel connected and involved with what you are doing. The ability to allow a customer to learn more about you and let them share in what you are passionate about should be exciting to any business no matter how long it has been around. Consumers enjoy being able to learn about a cause that they can relate to and appreciate a company that lives it out in an authentic way.
Contribute Real-Time Content and Value
Some exceptional entrepreneurs take their social media branding to the next level by creating high-value content that is designed to educate and empower their followers. YouTube channels like Valuetainment create fantastic videos to inspire young entrepreneurs and even educate them on the value of digital marketing in business. This use of media allows a company to create a brand that is not only successful but also one that creates an added value for its consumers and contributes to society in a positive way. This type of real-time content creation can allow your company to position itself as a thought leader of an industry and can be an incredible way for your brand to develop or expand.
Stay Connected and Evolve with Your Community
With the ability nearly every person has now to follow brands and discover trending topics, consumers have started to feel more connected to the world of business today. As we become more connected as a society, changes in the market happen at a more rapid pace. Building a solid relationship with your customers and making them a part of your community can help to create a loyal customer base and one that will give you feedback and help you to grow. Change is a constant and for any business to stay successful, the ability to make changes is important. Social media can go a long way in helping you to stay on top of what is and is not resonating with your customers and how you can improve moving forward.
Partner with Others
Lastly, social media can provide your business with the opportunity to connect with other businesses. Some surveys estimate that approximately 77% of US small businesses have now incorporated social media into their business plans in a variety of ways. These unique platforms provide opportunities for B2B communication and can open the door for future partnerships or working relationships. Even though businesses compete, we are all a greater part of a community and a country and it is refreshing to see companies interacting, respecting one another, and working together with the goal of responsibly improving lives.