It?s becoming more apparent that social media is no longer a new phenomenon as the majority of online businesses are using it in one form or another. Whether you are setting up a Facebook fan page or tweeting the latest news about your company or industry, social media must be utilized if you wish to be a success. An online study conducted by Pardot Marketing Automation showed that over half the companies surveyed spent more than 10% of their marketing budget on social media. Around 40% of the surveyed companies claimed that 10% of their leads came from this form of marketing. However, only 11% of these companies currently have a formal social media policy.
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Communication Breakthrough
So, how do social media help your business? For a start, it opens up dialogue between your company and customers. This ensures that there is better communication between consumer and business than ever before. Online consumers don?t like dealing with companies unless they know the organisation is legitimate and a social media presence can certainly increase your credibility. Now that customers have the power to vent their fury online and savage a company that has underperformed, businesses need to tread carefully. By constantly remaining in contact with consumers, you can get an insight into what they want. In return, they will gain familiarity with your brand and hopefully be loyal customers for years to come. It makes sense to include social media as part of your marketing strategy.
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Unlimited Audience
Before the internet was created, the audience a business could reach was limited by its budget. You couldn?t hope to gain a worldwide customer base unless you had incredible funds to branch out. Thanks to the internet and social media networks in particular, you are in touch with potentially hundreds of millions of customers. Estimates vary but Facebook alone has somewhere in the region of 500 million users. Social media enables you to contact potential customers from any country in the world. Your market is only limited by your imagination and ingenuity. Best of all, social media marketing campaigns are relatively cheap so this worldwide reach can be achieved by companies with a moderate budget.
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Stay On Target
Finding your target audience used to be an expensive and frustrating process. This is no longer the case with social media. You can use the tools on Facebook and Twitter to gain an insight into the demographics of your customers. For example, Facebook Insights allows you to learn the personal details of potential customers. Perhaps even more importantly, you can find out what interests prospects and tailor your marketing campaign accordingly. The previous alternative was to engage in a ?hit and miss? strategy which was relatively fruitless and overwhelmingly expensive. Businesses that don?t use social media risk wasting thousands of pounds marketing to the wrong target audience.
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The remarkable expansion of social media proves that it is here to stay. As things stand, there are an array of innovative marketing tools on these sites that are free to use. You would be doing your business a grave disservice if you neglected to use them.
Source: http://www.zenoseo.com/blog/how-social-media-helps-your-business/
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