Why social media marketing is important for businesses

Why social media marketing is important for businesses
(Last Updated On: December 16, 2022)

Did you know India has about 250 million social media users? Imagine the number of potential customers you can reach via an effective social media marketing plan.

Starting off a business is only the first step to the multitudes that follow. Engaging your customers with the latest you have to offer can go miles in promoting your business organically.

With a major population of Indian users now active on social media, it is now easier to attract more customers to your business.

Let’s look at why social media is important for your business along with examples from real brands.

Benefit of social media for businesses

1. Build brand awareness

If you just started a business and want to reach new audiences, social media is the best place to start. Many use the platform to research products and services. In fact, a study shows that 55% of consumers learn about new brands of social media. This number is even higher for GenZ and millennial consumers.

Even if you’re an offline business, being active on social media can get you more reach and drive customers to your store. For example, Theobroma is a bakery business based in different metropolitan cities across India. They actively post content shot from their different shop locations. With the geo tag feature available on Instagram, baked good lovers based in those cites can easily discover them

Find the ideal platform for your business and start building brand awareness.

2. Know more about your target market

Social media is a great place to know about your target audience, especially if you’re an online business. The key is to find platforms where your ideal customer hangs out.

After establishing yourself on social media, observe who follows you interacts with your post, and shows interest in your brand. Get to know their common characteristics, interests, challenges they face, and how your product is a solution. You can use this information to create meaningful content, attract their attention, and convert them into customers.

3. Encourages two-way communication and increase engagement

Consumers want to feel connected to brands. In fact, 68% of consumers agree that social media enables them to interact with brands and companies.

When businesses engage their customers online, they add a more humane touch to building a bond with customers. Social media is also an easy way of understanding the customers you cater to.

You can even collect inputs and feedback from customers easily on social media. These inputs can prove useful for product development and the overall growth of your business. Besides, it is always easier to respond immediately.

4. Opens doors to partnerships

Partnerships are a great way to grow your brand presence online. And social media is the best place to create brand collaborations. With a strong social presence, you can attract good brands that complement your services and launch campaigns. Both big and small brands can benefit from them. Here’s an interesting example of a co-branding partnership from Dunkin Donuts and elf cosmetics:

You can also make use of influencer partnerships. With more consumers trusting creators in making buying decisions, you don’t want to miss out on this marketing technique!

5. Boost traffic and your SEO

With an effective social media marketing strategy, you can boost inbound traffic and your search ranking. Ensure you put out high-quality, shareable content which is a value-add to your customers. It is essential to also optimize your page, to allow for the most through social media marketing.

While Facebook and Twitter ensure engagement and traffic, platforms like Quora help you demonstrate your expertise. Giving advice, providing relevant information, answering customer queries about your product or its offerings, help you become a person of authority for the business or sector you are in.

6. Cost-effective

Leverage the power of social media with low-cost advertising to promote your content, business, and product offerings. Social media platforms also come with the added benefit of engaging audiences globally at prices lower than traditional means.

With social media, you can create content and promote it in a cost-effective fashion. Additionally, your content can be accessed long after it’s published, thereby increasing its reach and shelf life.

7. Level playing ground

Social media marketing is easier for bigger companies to make an impression with larger budgets and more influencers ready to hop on board. But, the nature of customers is to look for something new and more appealing. This also gives smaller businesses a chance to engage potential customers.

This can be done with a strategy of putting across inspiring content and carrying out engagements with early adopters.

A good social media marketing strategy allows customers to find their way to your website and also shop with you.

8. Make more sales

And finally, social media will help you make more sales.

In a recent survey, 78% of consumers are willing to buy from a company after having a positive experience with them on social.

You get to tap into a whole new range of shoppers when you launch your business on social media. By creating content that resonates with your customers, engaging with them, and staying on top of trends, you can make more sales online. Read this to know more about the different ways to make sales from Instagram.

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