Whether you’re a small brick and mortar business owner or the CEO of a large international corporation, chances are you probably use social media in your free time to keep in touch with your own personal friends, family, and connections (and maybe even check out a few memes here and there to have a quick laugh – and don’t pretend like you’ve never done it before). If you’re already using for your personal use, why not as well use it for your business and marketing purposes? (Although, if you’re a large international corporation, I highly doubt you don’t already have business social media accounts). So, if you already are taking advantage of the thriving social media scene, a hundred points go out to you, my friend! You’re doing great! But if you’re not, you may need a little convincing to go and that’s exactly why I’m here. You’re welcome 😜.
However, before we start, let’s introduce some numbers in here for you to think about. In Canada, 64% of people have a social media network profile, either on Facebook, Twitter, LinkedIn, Instagram, or YouTube. More than 50% of people are registered to more than one social media platform. 53% of people are more likely to shop with businesses they can message on Facebook.
Now that we’ve set those facts aside for you to help realize the importance of social media, what are its tangible benefits for your business?
1. Higher Conversion Rates
Everything you post on your social media platforms is an opportunity to get your customers to convert. Every photo, status, update, video, or comment you share and post is a chance for your followers to react and potentially visit your website (just make sure you don’t forget to link or place your website and business’ contact details somewhere they can easily find!) And every visit to your website could lead to a conversion. Furthermore, the fact that your social media marketing humanizes your brand leads to higher conversion rates! Instead of seeing your company as just another business, your social media appeals to them personally and makes it feel like they’re communicating with actual people (instead of robots or another distant corporation).
2. Decreased Marketing Costs
Perhaps this may be the favourite reason for your financial team 😉, but 84% of marketers found that as little as 6 hours of effort per week was enough to generate increased traffic. That’s basically like spending 1 hour a day on your social media channels – which is a fairly inexpensive form of marketing with such prosperous results. By spending this 1 hour a day to developing your strategy, you could start seeing the results of your efforts.
Let’s play with a few more numbers, I mean who doesn’t love hard facts to back up their statements 😜. 95% of marketers who used social media at least 6 hours per week saw increased exposure for their business. With the same 6 hours, 66% of marketers saw lead generation benefits and almost 50% saw a benefit of reduced marketing expenses. How’s that for efficiency and cost-effectiveness?
3. Richer Experiences for Your Customers
If you think about it, social media is basically a communication channel, right? Right! Giving your customers the ability to communicate (sometimes in real-time!) with you enriches their experience with your brand. Every interaction you have with your customers is a chance for you to demonstrate and show off your outstanding customer service levels. Social media allows for almost instantaneous interaction and customer feedback. With every successful interaction, you’ve just won brownie points and developed meaningful relationships with your customers! And who wouldn’t want that 😛?
See! It is worthwhile to engage in social media marketing. While these obviously aren’t all of the benefits of social media marketing (there are hundreds more, believe me!), these are all the ones we have time for today. If you’d like a part two, stay tuned for one coming up sometime in the near future 😬.