Benefits of Social Media for Business Owners

Social media is not just a passing trend. It is more than a popularity contest where your business is ranked based on likes and retweets. Once a business owner understands the true scope and applicability of social media for their own business, they can better market and advertise their product. Here are a few benefits that an effective social media strategy can bring to businesses:

1. Increased brand awareness. Social media does one thing very well… it gets your business name out there. Considering there were over 1.39 billion active monthly Facebook users as of December 31, 2014, 288 million active monthly Twitter users and 300 million Instagrammers, gives you an idea of the immense scope of the social media world. Getting your logo, slogan and brand out into this community can be incredibly lucrative for your business. Building your brand is not only informing your target demographic of the services you offer or introducing them to your product; it is also about WHY they should choose to solicit your business or purchase your product.
2. Online Engagement. By establishing your social real estate, you can begin to engage with potential clients, industry leaders and continue your conversation with your current clients. The goal is to increase your recognition within the industry by using social media as a conduit in sharing industry news, developing a rapport with your online following and engage an ongoing dialogue between you and your following. By increasing your recognition and creating and maintaining a dialogue, you can elevate your business in comparison to the competition. Online engagement is paramount in bringing a business online. Social monitoring, responding and social commenting is of equal importance as posting.
3. Once a business establishes a presence online through social media, it becomes easier for customers to find and connect with you. They will also be able to review and promote your product or service. Obviously, this works both ways, however, even in the face of a negative online campaign, a good social media marketer can assist in turning negative comments into positive conversations about the business.
4. Instantaneous gratification for customers. Gone is the day that customers need to leave their living rooms, get in their cars and drive to a traditional store. The new trend is online shopping and expedited delivery services. Having an online social media presence is another means for your customers to find your product and purchase it. There are social media “BUY” buttons, which allow customers to click on an icon and purchase a product without ever having to visit an external website.
5. Facilitates the distribution of content. Businesses that have information, knowledge or ideas to distribute can do so through vblogs, blogs, podcasts, posts and tweets. A business can use this online opportunity to establish themselves as the “go-to” industry expert. Things as simple as a blog posting market trends, industry commentary and product tips are all simple tools that can help a business increase traffic and ultimately sales.
6. Allows for an additional point of customer service contact. A business with a traditional brick and mortar shop will have a couple of points of customer service contact: the telephone and the front door. Compare that to the shop that also has a plethora of social media accounts, all with access points for things as simple as hours of operation, product questions, service inquiries, etc…