Social media is a wonderful platform for applying the marketing strategies for a business and hence this Social Media Marketing (SMM) is becoming very popular these days. It is nothing but use of social media as a marketing tool by majority of the businesses. The main aim of SMM is to produce content that is generally used by users and is shared on a social networking site that helps the company to broaden its customer reach and increase brand exposure. The main advantage of using social media for businesses is getting direct feedback from the customers and even potential customers. Social Media can be a powerful and influential business tool. Some of the advantages of Social Media for businesses are:
The most important advantage of using social media for business is to generate revenue. This is generally done by creating a social media platform for your products/ services or advertising them by building a community or a group that shares common interests linked to your product/service. The ads on the networking sites should essentially link back to your business page or your website. This is how you benefit from a social media without having a proper channel for marketing.
The use of social media allows your customers to connect with you and interact with you on a personal level. If you are an already established brand, use of social media will definitely help you to further improve your brand image and if you are a naïve brand, then using social media is the answer for all your branding strategies and business development.
The only way to attract new customers is by using social media. The business can think of considering social media campaigns wherein it can attract different followers with promotions or discounts and giveaways. As soon as you develop a good following, then concentrate on personalized social media where you encourage those customers to stay. This is how you establish a customer base for your brand.
There may be times when you would feel that social media marketing is not useful for your business. Even if it is not working for your business or you are short of time to explore it, try logging into the networking sites to track your competitors or for feedback from your customers. This might help you to get valuable feedback about your business.
Easy way to study your audience
A business is successful only when it knows its audience. With the help of social media, it is possible to understand your customers, study their demography and accordingly gauge their needs. Once you gather knowledge of all these things, it may help you to organize different product campaigns for you target audience that may yield you with a better return on investment.
Receive instant feedback from your customers’ perspective
With the help of social media, you get instant access to any positive or negative feedback about your business that may provide you with some valuable insight about your customers’ perspectives. If you want to launch a new product, you can launch it on social media so that you get instant feedback about the product. You can also learn how your customers are using your product that may enable you to accordingly base your new products on the basis of customers’ views.
Beats Your Competitors and Improves Marketing
Social media enables you to gain valuable information about your competitors and thus improve market intelligence. This also enables you to make strategic business decisions and help you to stay ahead of your competitors. Your market research will allow you to offer more than what your competitors are offering.
Increase website traffic and search ranking
One of the major benefits of social media is to increase the website traffic. It helps to direct people to your website and the more shares you receive, the higher is your search ranking. So when your social following grows, your visibility in the search engines will also increase.
You connect to many people on a common platform through social networking sites. This helps you to exchange ideas with different people and use it for word of mouth publicity.