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Business Development 2.0


Five Benefits of Using Social Media to Grow Your Business

Almost all of us have presence on social media one way or another. Whether it is Facebook to share updates and pictures with family and friends, looking up Diwali decoration ideas on Pinterest, posting vacation pictures on Instagram, to sending a Snapchat video with a face-swap, we are continuously connected to our social media accounts. With so much of our attention being dedicated to social media, it naturally makes for an amazing channel for companies to promote their products and services. The benefits are endless for both consumers and businesses.

Are you running a business and trying to find the right strategy for social media? Here are five benefits of using social media to grow your business:

1. Targeting Your Focused Audience

Social sites offer businesses amazing tools which allow them to market to individuals who align with the demographic they are looking to target. But even if you aren’t interested in paid advertising, you can search for your prospective demographics; filtering by hashtags is another hack to finding like-minded prospects. Once you identify your ideal audience, its as simple as following them to start engagement. Engagement should be genuine and can encompass following, liking, and commenting on the posts of individuals and businesses whom fit the audience that you are interested in.

2. Consistent Communication

By having social profiles for your business and taking a proactive approach to inviting existing and prospective customers to follow you, you are building the ideal audience that you want to be consistently communicating with. Your strategy to communicate can be unanimous for all channels or tailored based on the type of audience in each social profile. There is no right or wrong answer but you have the flexibility to experiment and see what works based on your goals. Being consistent doesn’t mean overloading your audience with content. Maintain a high grade of quality and ensure your various messages cater to the different types of audience that you have.

3. Being Able to Test New Marketing Ideas

With an audience that includes your existing customers and prospects across your social media profiles, you are able to easily test different marketing ideas. This could include a survey for a new product idea, a special offer to move out extra inventory, or a special concession for people hiring you during your slow time. In addition, you can experiment with selling your products online without investing a lot of time and effort on developing a shopping portal on your website. Besides promotions, social media sites also are fantastic for allowing you to try different types of advertisements about your business using various catch phrases and design aesthetics to see what’s popular.

4. Positive Impact on SEO

Search engines take many different things into consideration when they rank websites, including: the layout of your website, the content on your website, if your website is mobile friendly, how frequently you update your website, how many other sites mention your business, how your content aligns with the keywords which reflect your business, and how active you are on various social media sites. By executive a social media strategy which is consistent, you create greater organic opportunity for your prospects to find your business.

5. Quantifiable Return on Investment

Social media sites provide amazing dashboards which allow you to track various metrics such as: which posts received the most likes, what days and times your posts are viewed most, and detailed breakdown of the types of individuals following you. By posting custom designed branded content with a clear call to action, you are able to track traffic coming from social sites, which will allow you to measure the leads and revenue associated from social media efforts. By being consistent with social media, businesses are able to increase traffic and business leads, which are generally higher quality, and therefore have a higher probability of closing. An effective social media strategy with consistent effort can be cost effective, fitting every budget, and relatively low in risk, when it comes getting a multiplying effect on your investment.
The necessity for companies to implement an effective social media strategy will continue playing greater importance, as it aligns with how consumers are researching and making decisions.