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Why social media is important for businesses

Why social media is important for businesses

In this technological era, social media has paved the way for businesses and brands to be able to flourish. It is typically used for social interaction and accessing news and information and it has proved to be a valuable communications tool through which one can reach out to others locally and globally. However, social media has grown beyond anyone’s usage; it has another purpose now.

Why social media is important for businesses
Why social media is important for businesses

Brands and businesses can use social media to reach out to their new and existing customers by using marketing tactics and advertising. The kind of visions they present on social media about their brands and businesses will influence the consumers’ purchase decisions about their products and services.

As a consumer

Looking from a consumer’s point of view, they need reliable information about products and services, and customer support that will guide them further. With everything now shifting online, thanks to the coronavirus pandemic, it is easier for consumers to communicate with their favorite brands online. They can read up on other consumers’ feedback, reach out to customer support via messaging instead of calling them up, watch engaging content about products and services and also be able to post their comments. All they need to be able to do that is to have a working internet connection. And not a very high-speed internet connection either. For instance, the Xfinity internet allows its users to opt for the basic internet deal with speeds up to 50Mbps and that would work just fine for browsing through their favorite brands’ social media pages.

As a business owner

Businesses and brands need to understand the importance of having their own social media presence on the internet. Because their social media pages and profile can have a big influence on consumers’ decisions about their products and services.

  • Growing awareness. Brands and businesses need to have an online presence to create awareness about their products and services. Marketing through social media can help them to showcase themselves to the right consumers. As soon as they have recognition, this can eventually lead to them making room for effective brand building by providing accurate information and generating conversation with the target audience. Interacting with the audience by telling your brand’s story will allow consumers to relate to you on a personal level. Effective marketing strategies will teach the brand to use tone and style based on their audience’s preference, all the while maintaining their impactful brand image.
  • Increasing brand traffic. Using social media will allow brands to take a deeper dive into gathering data from consumer research. With this kind of data, brands can tailor their marketing strategies to attract consumers to their products and services. It will also result in immediate interaction, improved relationships with consumers, and a strong line of communication, leading to consumers’ loyalty towards the brands.
  • Customer support. Like in retail stores, brands and businesses also need to have an online customer support service. This kind of service allows brands to hear the consumers’ side of the story, their concerns, and suggestions, and then work towards improving it. Brands can also respond to consumers’ queries faster this way, instead of having to visit the retail store.
  • Reputation management. Brands have to ensure their behavior towards consumers is tolerant. Even when consumers have negative experiences, they have to make sure the communication with consumers goes as smoothly as possible. Because one negative feedback from consumers can tarnish the brand image and affect their business. It is even riskier on social media. For instance, if a consumer complains to a brand at their retail store, there is a chance that two or more consumers were there at the same time, heard the complaint and that impacted their decision about the brand. But on social media, it is different. One negative comment is being read by hundreds of other social media users and those hundreds of social media users who preferred the brand will now have second thoughts about it. Hence, brands need to remain as tolerant as possible towards a frustrated consumer.
  • Social media also allow brands and businesses to keep track of their competitors. If a brand’s competitor has a social media page on any of the social media platforms, then the brand needs to get there as well. Social media app is free to use and a simple Facebook or Twitter page can get them thousands of target audiences without having to spend a single dime. Browsing through their social media presence will give brands an idea about how they need to one-up their competitors by improving their marketing tactics.

Half of the world’s population has an active social media account on the internet. Brands need to be able to reach out to people to bring about real value and revenue to their businesses, which is why social media is the best option for them. It is also the easiest and most cost-efficient way of reaching out to their target audiences.

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