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- How Social Media Marketing Impacts on Business Success - March 20, 2019
While everyone agrees that social media marketing is helpful to business enterprises, the majority of entrepreneurs have no idea how they should use social media to promote their goods and services. Worse still, Social Media Examiner reports that up to 85% of marketers say that while they use social media networking sites, they are quite vague on the tools that would best serve their businesses.
For instance, while a tool like Growr can help you grow your Instagram followers organically and fast, the growth might not mean much if you don’t know how to leverage the numbers to grow your profits. Consider the following proven ways that social media marketing helps businesses succeed:
High conversion rates
Social media gives companies an opportunity to create a relationship with their customers thereby increasing the probability that these customers will want to buy from them. These social interactions gives a human feel to the brand growing trust. Ultimately, this trust translates to a higher conversion rate. What’s more, available research shows that social media marketing has higher leads than those you can get through outbound marketing.
Richer customer experiences
At their core, social networks are communication channels like phone calls and email. Every time you have a chance to talk to a potential customer, you have an opportunity to demonstrate the worth your brand places on its customers. You can use social media to create rich customer experiences, which go a long way in solidifying your brand’s place in the marketplace. What’s more, social networks are a platform that you can respond promptly to the concerns of your customers. When other potential customers see how you handle these issues, they can choose to use your products or services.
Understand and deliver value to consumers
Social media marketing campaigns that succeed deliver value to consumers. By default, customers on social media fee empowered to make trade decisions in ways that were not possible before the emergence of these social networks. As a result, they are more demanding; they require higher quality, lower prices, greater innovation and excellent customer support. Businesses that want to thrive in this space must be willing to go the extra mile to provide workable solutions to these demanding consumers.
Higher brand authority
Whenever a chance presents itself to interact with your customers on social media, you should take it. The more you interact with them, the greater your brand’s authority grows. Engaging with them shows them that you value them. It also impacts how other people who are yet to subscribe to your brand see you. These social interactions are acts of good faith and go a long way in convincing potential consumers of your products and services that you truly care for every one of your customers. The impact of positive mentions across social networks has an incredibly positive impact on your business.
Enhanced brand recognition and thought leadership
Brand recognition on social media relies on how often people mention your brand in a positive light. The more people love your business and talk about it with their friends and family, the greater your brand recognition grows. What’s more, it gains credibility every time someone says something nice about its products, services or customer support. This grows your brand’s thought leadership.
Create lasting one-on-one relationships with customers
By creating lasting relationships with individual customers, you build loyalty. There’s no better platform to do this today than social media. A social media marketing plan would be incomplete if there is no mention of how the business intends to build online communities on social networks and engage with them. These communities are a platform to better understand your followers, what they care about and how your business can provide the relevant solutions.
Improved brand loyalty
Today, practically all interactions with brands end up on social media. Whether it was a good experience or a bad one, people are bound to talk about it to their circle of influence on social networking sites. Therefore, you must be willing to leverage social media marketing to improve people’s perception of your brand and ultimately grow a loyal following. Social media marketing presents an opportunity to grow your credibility with ease using testimonials by customers who love your brand. As they become loyal, they convince the people around them to start buying from you too.
Decreased marketing costs
On average, social media marketing requires a smaller budget than other digital marketing tactics. The numbers published by Hubspot show that 84% of marketers say that spending just six hours every day doing social media marketing, they saw a noteworthy increase in the traffic their sites received. This means that you can make headway spending as little as one hour a day to do social media marketing. Off course, the cost implications are huge.
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