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Benefits of Social Media for Business

Increase Brand Awareness: 

With 3.6 billion people using social media in 2020, social media is a natural place to reach new and highly targeted potential customers. People are more likely to connect with brands they already know on social media. Consider that 71% of consumers are more likely to make a purchase based on social media referrals. 

Example: When Absolut Vodka ran an Instagram campaign to promote their limited edition Spark bottle, the company achieved a five-point lift in brand awareness.

Increase website traffic: 

Social media posts and ads are one of the best ways to drive traffic to your website. Sharing eye-catching content from your blog or website to your social media profiles is a great way to get people clicking as soon as you publish new content. 

Social media is intended to reach different audiences in a personable, useful, and entertaining way and refer those potential customers you may not have ever had the chance to engage with previously to get to know and try your business. 

Both website and foot traffic should increase if your social media is utilised in an appealing way, let your posts reflect on your business. 

Branding: 

Branding is one of (if not the) most valuable capabilities of social media.

Although you may not see a high organic conversion rate via social media (depending on the business) as you do with other marketing mediums (paid search, organic search, etc.), but the impression a brand can give off and the reputation you can build can be greatly enhanced and showcased through social media, leading to more potential customers. Consumers want to buy brands they recognize. Thankfully, social media allows us to build a strong brand and keep our audience engaged. 

Example: Take a look at Nike’s twitter page. Nike keeps their Twitter profile simple and clean. They place their recognizable logo on both their profile and cover image photo without being overbearing. 

Social Media Can Assist With Link Building: 

Social Media can have an indirect impact on SEO. 

For example, let’s say you get 1,000 shares on a blog because it contains strong content. Some of your followers who see your post may write similar content and link back to your original post as a source. Search engines will then pick up on the fact your content has linked back to a good amount and (hopefully) rank your post higher than your competition. 

Google and Bing also display tweets in search results, this feature is more relevant for tending topics. 

Lookalike / Retargeting Audiences On Facebook: 

Retargeting is a very powerful tool for social media marketing. Generally only 2% of customers will actually purchase something on their first visit to your site. Advertising can help reach that other 98%. 

A successful way to do that is to run retargeting ads. 

Retargeting works by keeping a customer list of people who visit your site and placing anonymous “cookies” within their browser (also known as a Facebook Pixel.) When a user then visits a social media site, a retargeting service then displays the ads. This allows for your business to be in the eyes of customers beyond when they’re just on your site. 

A Lookalike audience is a custom audience consisting of people more likely to be interested in your business. This audience allows you to create a database of similar users based on your website visitors or customer list (emails, names & phone numbers.) Lookalike audiences are very valuable people to target through Facebook Ads because they deliver significant results in comparison to targeting people based on interests. 

The benefit of a Lookalike audience is you know you aren’t going to be running the risk of running advertisements to the wrong audience.

You Can Join Social Media Networks for Free: 

One of the biggest advantages of social media marketing is that it is entirely free to start. None of the largest platforms have signup fees of any sort, so the only investment you’ll need to make is the form of time. There are paid advertising options on most social media platforms as mentioned previously but building a brand, engaging with followers and pushing out organic content is all free of charge. 

AUTHOR

Charlie Finister

All stories by: Charlie Finister

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