Are you aware of the benefits of social media marketing in 2023? Let’s refresh your knowledge and convince you of the benefits of social media marketing for your small business.
Yes, it is 2023, and we are here to tell you about the benefits of social media marketing! It may sound boring, and you can accuse us of being late with this blog by at least a decade!
We know the social media marketing industry is a $200 billion business, and most businesses have it as a core part of their marketing strategy. Yet, there are good reasons to remind you about these social media benefits as we start a new year.
You may be surprised that almost 40% of small businesses are yet to invest in social media marketing. Even small businesses that do invest in social media their allocation is low. Nearly 75% of small businesses spend a mere 3-5% of their marketing budget on social media, compared to 8% and above for big businesses.
Now that’s too big a market for any digital marketing company to ignore; hence we are here talking about the virtues of social media marketing. You may be aware of the benefits of social media marketing. But read this blog as we shall share a few interesting insights on social media benefits you aren’t aware of.
Why Invest in Social Media Marketing?
Instagram, Facebook, Snapchat, TikTok, and Twitter are more than entertainment and information platforms. They have evolved into the most powerful marketing tools with billions of active users. You can interact with customers in real-time and generate feedback using social media. From amplifying your brand to letting you tell your story, social media helps you interact with your customers and widen the scope of business by letting you reach out to potential customers.
Top 10 Benefits of Social Media Marketing
We have looked at the role social media marketing plays, and now it’s time to look at the real benefits of social media in your marketing campaign. Here are 10 benefits of social media marketing that you cannot ignore –
1 – Increases Brand Awareness & Website Traffic
Increasing brand awareness and recognition is any marketing campaign’s primary objective. Social media marketing takes your brand to prospective customers, makes it easily recognizable, and does it faster than any other marketing strategy. You don’t need a website or an office address to start your marketing campaign. Start with a teaser before your business launch or introduce new products without any hassle, it is the best tool for generating brand awareness.
Among other social media benefits, you will also experience growth in website traffic. Post product updates on your social media handle with a link to the landing page, and you will notice traffic growth. It can send tons of high-intent traffic to your website and complement your SEO marketing strategy.
2 – Builds The Perfect Customer Profile
You think you know your audience, right? The more you interact with your customers, the better you know their needs and aspirations. Audience research is a core part of marketing any business and one of the most significant social media benefits. Your customers’ needs and aspirations constantly evolve, and when you take a look at people visiting your social media handles and engaging with the brand, you can identify your perfect customer.
Twitter, Facebook, Instagram, etc., have built-in analytics tools that offer insights into people engaging with your brand. These insights let you build better products and services for your customers and strengthen your position in the competitive market.
3 – Boosts Conversation About Products
A well-run social media campaign boosts conversation around your products. Take a look at the recent campaign from OpenAI introducing its AI-powered language model chatbot ChatGPT. Their first post announcing the launch of this tool triggered conversations around tech groups and message boards and ultimately led to more than 1 million downloads in 5 days!
OpenAI’s engagement with its Twitter audience immediately touched the minds of its target audience. The resulting impact has made people notice this AI-powered tool that some tech experts see as a Google Search killer! As a brand, you must use social media to trigger a conversation about your products, and these engagements would open business opportunities.
4 – Helps Study Emerging Trends
It is well known that social media influences consumer behavior. It also makes social media the best tool to study emerging trends in the market. You can gain insights into fast-changing consumer behavior and how they make purchase decisions. Read their comments, as it will open your eyes to their needs and aspirations.
Consumer behavior can differ from industry to industry and among products within the same industry. Social listening will help you understand what customers value most when they shop for your products. You will stay prepared for the emerging opportunities in the market and can mitigate threats coming your way.
5 – Handy Customer Service Tool
You can increase brand equity by focusing on strong customer support and service. Your social media accounts can serve as a handy customer service tool. When customers request support on social media handles, they expect instant responses. Social media can be the perfect platform for troubleshooting and meeting urgent requests from your users. You can use these tools’ chat and direct message features to communicate with your customers.
6 – Repurposes Your Content
If you have invested in content marketing campaigns such as blogs and videos, you know the efforts it takes to create good content. Over time such content tends to get buried deep down in the search engine results or on video-sharing platforms. You can repurpose the same for your social media campaigns.
The biggest brands use this strategy to engage with their audience. You can drive traffic to old but relevant videos and blogs promoting your products and establishing your market authority. For instance, if you offer pool cleaning services, you can share videos of some of your best jobs, and it can attract more sales calls.
7 – Cost Effective Marketing
You don’t need to sit over a bottomless pit of a marketing budget to run a digital marketing campaign. It is the most significant benefit of social media marketing and attracts millions of small businesses. A few hundred dollars per month would be a good starting point to test the waters.
Most small businesses can’t compete with their biggest rivals on traditional marketing platforms. TV commercials, print ads, and billboards are out of the question for most small businesses. Social media platforms offer a level-playing field. The success of your campaign doesn’t depend on how much you spend but on how creatively you use the marketing budget to run campaigns.
8 – Creates Your Social Proof
Imagine walking down a fashion street and coming across two stores – one empty and the other full of customers. You are likely to choose one that has customers, right? The store full of customers creates a perfection of having better outfits or selling them at a better price. Consumers always look for social proof, and social media helps to create social proof.
When you invest in social media marketing, you will attract more followers and engagement on your page. It has a ripple effect on prospective customers who like shopping from businesses with a large fanbase. Customers will share your product updates on their timelines and write comments, which creates more business opportunities.
9 – Share Company News & Updates
Depending on your business, you will need to share news and updates with your customers. From software releases to your latest sales offers and the launch of new products, your customers need to be aware of several news and updates. Social media platforms serve as the perfect channel for these updates. These are delivered directly to their message box or the timeline. It is the quickest and easiest way to deliver news in comparison to press releases on your website or even sending emails to the intended audience.
10 – Useful for Competitor Research
Last but not least, you can’t achieve success with your marketing campaign unless you are aware of your competition. Social media can be your best glimpse of your competitor’s marketing strategy. You can’t know their SEO or PPC strategy, but their social media campaign is out in the public domain, and this offers you the best opportunity to study their strategy and outsmart them in this game.
Shortlist a few of your biggest competitors and find their social media profiles. Look at the kind of content they post on social media that generates maximum engagement. Study the frequency of their posts and how they interact with the audience. Use third-party tools such as Rival IQ and Brandwatch Consumer Intelligence to check the engagement rates. Once armed with this information, you can run successful campaigns.
There you go. Social media marketing can help your business build a strong foothold in a competitive market. It lets you overcome the constraints of a small marketing budget and take your brand story to the world. Are you bold enough to say No to these social media benefits? You will have to be out of your mind to do so. Don’t be part of the 40% and ever-shrinking club of social media doubters.
If you want to start your social media marketing campaign or haven’t seen results with your DIY efforts, you must hire a professional team that delivers results. At Cyrusson Inc., we fit the bill. We are a full-spectrum digital agency and specialize in social media marketing. Our team stays updated with the latest trends and runs tailored campaigns to generate maximum engagement and brand awareness for your company.
Call us today at 415-228-9969 to book a free consultation, and let’s start building your brand on social media. The possibilities are endless, and it’s time to explore!