IMPACT OF SOCIAL MEDIA ON BUSINESS.
– SHASHANK CHAUHAN
Social Media is a very powerful platform to grow and market your business. It has a very high brand exposure and a great Return on Investment, as more than 3 billion people are browsing social media content. Impact of Social Media on businesses is so high, that it provides a great opportunity for every brand and business to promote their product and services on almost all social media platforms.
Social Media Marketing helps your audience to easily find you on social media.The biggest advantage of social media marketing is that you can reach your targeted audience, stay engaged with them, and respond to their queries instantly.
Six positive effects of Social Media Marketing
- Social Media increases your Website traffic.
Nowadays many people spend a lot of their time on Social media. In 2019, there were around 2.77 billion social media users active around the globe.
Social media is the perfect way to drive traffic to your website. It has the potential to become a major source of traffic to the websites as it provides you various ways to share your content or post something like text, image, videos, etc. Social Media is a great medium where a post can easily be shared as it allows your business to reach multiple users, in different locations across different time zones.
- Social Media increases your Brand Awareness.
Social Media offers opportunities for brands to come out with their creativity through social media campaigns and promotions.
It is a platform where brands engage with their audience, grab their audience’s attention to successfully improve their brand awareness.
Brand awareness is a long term effort where you constantly prove to your customers that they can trust your brand.
Share your content on all other social media platforms, it will help you to connect with a wider range of audiences. Make sure you share educational content, creative infographics, informational charts and impressive pictures. When you focus on teaching and not selling on social media, your brand awareness will grow comparatively faster.
- Social media improves your brand loyalty.
All marketers know that their ideal customer is the one who is a loyal customer since we all know that retaining existing customers is cost-effective and efficient than finding new ones.
Brand loyalty is an action where customers prefer to purchase one brand product instead of another brand. Brand loyalty is important for businesses to increase their sales and generate revenue by selling products again and again to their loyal customers.
According to research, 66% of users between the ages of 18 and 24 years old are more loyal to the brands they follow on social media than otherwise. Brand loyalty builds by offering excellent customer service over social media. Quickly resolve their queries and respond as quickly as possible, take feedback from customers on social media to gain trust from the audiences.
- Provides excellent customer service
Nowadays, customers love to give feedback or ask any queries on social media instead of contacting the call centres. So customers love when brands reply instantly to their queries. Businesses must respond to customers with their solution, it would not only help customers, but it also shows how responsive the brands are towards their customers.
These are the actions that create a positive impact on social media for audiences.
- Social Media’s effects on Competition.
Social media is changing the nature of competition. With social media marketing, you are at par with all of your competitors.
There are so many brands on social media and you have to face them by giving tough competition. Ex-Facebook marketplace is heavily crowded, but you have no option, you have to enter that market and sell your product.
On Facebook you can easily check your competitor’s action, the campaign they launched recently, which posts are performing well on social media, etc.
When you don’t take advantage of social media to build your presence, you are automatically passing on the advantage to your competitors. Build your brand presence, it will positively impact your businesses.
- Social media ’s impact on sales.
Social media gives an opportunity for brands to increase their conversions or sales while interacting with customers.
Social media has a huge amount of data for brands, for both big or small businesses. Social media helps those who are trying to sell or even establish themselves.
When a brand chooses the best social media marketing approach, it will strengthen its marketing strategy. Your strategy should include questions on – how to engage and inform your audiences on social media about your product.
A high percentage of Marketers know that social media has a huge impact on their business when they choose the correct strategy. Impact of social media marketing on businesses is so huge that even today, in 2020 if you are not including social media marketing into your business strategy you’re not really giving the best to your business anymore.