7 Benefits of Social Media for Business

Haigram – Social media offers an easy and low-commitment way for potential customers to express interest in your business and your products.

1. Generate leads

Lead generation is such an important benefit of social media for business that many social networks offer advertising formats specifically designed to collect leads.

For example, McCarthy and Stone used Facebook lead ads that allowed people interested in learning more about their real estate projects to learn more about the properties, with just a couple of taps.

The ads wound up producing 4.3 times more sales leads than the year before, at a cost 2 times lower than more traditional digital prospecting campaigns with real estate ads.

2. Boost sales

Your social accounts are a critical part of your sales funnel—the process through which a new contact becomes a customer. (Lingo alert: this is called social selling!)

As the number of people using social media continues to grow and social sales tools evolve, social networks will become increasingly important for product search and ecommerce. The time is right to align your social marketing efforts with sales goals.

3. Partner with influencers

Recommendations from friends and family play a huge role in consumer decisions, as do reviews. When you get people talking about your product or company on social media, you build brand awareness and credibility, and set yourself up for more sales.

One key way to drive social word of mouth is to partner with influencers—people who have a large following on social media and can draw the attention of that following to your brand.

Lingerie brand Adore Me partnered with influencers for a series of unboxing videos on Instagram, and saw a huge bump from content that was showcased directly in the influencers’ accounts. This included a doubled click-through rate and a seven percent higher sales conversion rate.

4. Promote content

Promoting your content on social channels is a great way to get your smart, well-researched content in front of new people, proving your expertise and growing your audience.

For example, Hootsuite shared fun facts and stats from their latest Digital 2021 global report with their Twitter audience through a series of infographics.

To maximize the benefits of social media for business, make sure to have a content marketing plan in place, too.

5. Go viral

As people start liking, commenting on, and sharing your social posts, your content is exposed to new audiences—their friends and followers. Going viral takes this concept one step further.

As people share your content with their networks, and their networks follow suit, your content spreads across the internet, potentially getting thousands or even millions of shares.

This exposure is especially beneficial because, in a world where there is far more content than any one person could ever consume, a friend’s social share acts as a kind of pre-screening.

Going viral is no easy task, of course, but without social media, it would be next to impossible.

Being on social media also means that your fans can help you with this goal… like when one TikTok user created choreography for Grammarly’s Youtube ad audio and sparked a trend of 100,000-plus users doing the same.

6. Source content

There are two key ways businesses can source content on social media:

  1. Source ideas: Ask your followers what they want, or engage in social listening, to come up with ideas for content you can create yourself. Put simply: Give people what they’re asking for. It’s a sure way to create content that people will want to read and share.
  2. Source material for posts: Create a contest or use a hashtag to source user-generated content (UGC) you can share. Getting your followers involved can build excitement about your brand, while also providing you with a library of social posts to share over time.

Canadian meal-kit subscription service GoodFood regularly feature members’ own home-cooked meals in their Instagram feed, encouraging followers to share their photos by using the hashtag #GoodfoodieMoment.

7. Reputation management

Your customers are already talking about you on social media, whether or not you’re there to respond. If you and your team are on the ball, you can pick up on important social posts about your brand to highlight the positive and address the negative before it turns into a major issue.

Like, for example, if people are posting about their frustration with a bad customer service experience.

Is someone saying something about your business that’s not true? Be sure to share your side of the story in a polite, professional way. Someone singing your praises? Send them plenty of thanks and draw attention to their kind words.

And thats all about 7 Benefits of Social Media for Business from haigram.com