Social media is a powerful tool that must be taken advantage of while it is still in the spotlight. It is a cheap, effective and easy way of communicating with your prospective clients. “92% of all marketers indicated that their social media efforts have generated more exposure for their businesses.” According to a recent report, Facebook is the most popular social media platform with 1.59 Billion users, YouTube came second with 1 Billion users, LinkedIn has 414 million, Instagram has 400 million users, Twitter has 320 million users, snapchat has 100 million and Pinterest has 100 million. With these figures, if you think social media is not for you then I don’t know what is.
Here is a look at some ways social media can improve your business:
Decreased marketing costs
Considering the fact that social media marketing is cheaper than traditional marketing (Billboards, Flyers etc), it’s an opportunity to reduce your marketing cost. With social media, you don’t have to spend $2,000 to advertise on billboards when you can spend $100 targeted to the right audience.
Social media is one of the most effective ways to increase brand awareness. It makes you more accessible for new customers. For example, a frequent Instagram user could hear about your company for the first time only after stumbling upon it or after seeing your presence on multiple networks.
Improved Customer Insights:
Social media gives you the opportunity to gain certain information about what your customers are interested in and how they behave, via social listening. With this tool, you can monitor user comment to see what people think of your business.
Advertise only to target audience
With Social media, you can choose to only advertise to people of a certain age. For example, a company that deals with ladies underwear can choose to advertise to ladies only. You can’t control this with billboard adverts.