The benefits of social media for business continues to grow as more social media channels emerge and more users get connected. Any business still shunning social media these days is like eschewing newspaper ads in the ’90s: an epic fail.
Facebook, Twitter, and Instagram combined have over 2 billion users. All these are potential customers or represent a big chunk of your already existing clientele. There is so much that businesses can do on social media that was previously possible only with huge marketing and CRM budgets.
Businesses are able to leverage social media and stand to gain in:
Lead generation has been described as attracting potential customers to your products or services. Unlike in the past when general marketing was done over mass media, using social media for business gives you the chance to identify potential customers more narrowly by identifying likes and dislikes. You can then make the necessary pitch with the client’s preferences in mind which will have a higher chance of translating into a sale.
Say for example you are a nutrition company selling Omega 3 supplements. Lead generation would involve having a survey where the interviewees can give their preferences in supplements, types, frequencies of use, etc. Facebook and Twitter for example allow you to develop your own polls and surveys. From this, you can make very personalized pitches to your prospective customers.
Content marketing is creating and distributing relevant, valuable, and consistent content that is aimed at a defined audience. For the nutrition company pitching a new brand of Omega 3 supplements, content marketing will involve blogging on the product, and connecting this blog post on social media and tagging the numerous nutrition groups therein.
A customer looking for Omega 3 supplements will see your post on social media and go to the blog to find out more on the product. This has an advantage in that the potential customer will also get exposed to the rest of your products.
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Another one of the many benefits of social media for business is the ease of interacting with customers. With social media, communication with customers connected to you is cheap and instantaneous. Best of all, it is uncensored … meaning you get the accolades, raves and rants at their best. This is invaluable feedback.
Reputation management is also very easy and fast with social media. Putting out the correct narrative is important when countering negative press and publicity. You can reach your customers easily, quickly, and repeatedly with your version of the story.
If your business is not on social media it is missing out on its many benefits and its power to transform how you do business.