In this age of growing technology, social media has become an ever more relevant tool for business. Still according to statistics by Deloitte, small businesses that are digitally engaged earn $350,000 or grow 20% faster. In Australia only 16% of small businesses fall into this group. Numerous businesses out there simply do not appreciate the potential of the online realm while the remainder are daunted by the task of learning a new skill that appears laborious. Think what we could achieve if we could bump that number to 40%, 50%. Imagine all the new jobs and revenue. A good social media strategy is a component for this vision and it can deliver numerous powerful benefits to your business worth the effort.
- Increased brand recognition
All opportunities you get to increase your business’s visibility are valuable. Do not assume that simply having a website alone is enough. Social media networks such as Facebook and Twitter are incredibly popular with the former boasting a large 1.7 billion monthly users and the latter 313 million. Granted you won’t be advertising yourself to every last one of these individuals but with an excellent strategy you will be able to determine your ideal customers and target them directly.
- Improve loyalty
According to LinkedIn, it is 4 – 10 times more expensive to sign on a new customer than to keep one. Seeking out new prospects is always important but keeping current ones loyal is cost effective. With a proper social media strategy you can keep current customers engaged with regular content postings and updates on Facebook or Twitter. Announcing news, special deals or posting pictures are easy ways to keep audiences in the loop.
- Better website traffic
Without a social media presence your website traffic is limited to google rankings, current customers and any offline advertising campaigns you might have funded. Think of each and every social media page you have as a road to your website and your posts and content are the travel signs. Every update you make increases the likelihood of someone finding you on their newsfeed and following the path through your business page and onward to the final destination, your website.
- More opportunities to convert
Getting the traffic you want is one thing but all the attention in the world is useless if it nets you no customers. According to Kissmetrics, 96% of first time website visitors will not buy which makes it vital to convert all the customers you possibly can. Every new post, image, or update you make on social media offers the opportunity for conversion and the likelihood increases based on regularity and relevance.
- Engage with customers
Ever wanted to know what your customers think of you? Thanks to social media you can now find out. Engage with your audience and integrate their feedback into the business. Because social media is a public arena, most everything you do will be visible to everyone. As a result it presents an excellent opportunity to unveil the legitimacy of your business by conveying yourself as respectable and personable. Give your visitors a chance to see your genuine goodness and your credibility will rise, resulting in increased conversion rates.