Since the introduction of different social media sites like Facebook, Twitter, Google+ and LinkedIn, the concept of online marketing has changed completely. The creators of these social media sites may have launched their services to bring friends and families closer, but business industries were quick to realize their true potential. The marketing mantra of any business is “reach as many customers as possible at minimum cost” and social media is the ideal platform to do so.
Think for a minute…when a company advertises in TV, the newspaper or internet, thousands of people pay attention. However, when the same is advertised in Facebook, it can attract millions of potential customers. Not only is the expense less but the market penetration of a Like or Tweet is unimaginable. If a social media marketing campaign is executed thoughtfully, it can offer excellent return on investment.
These days, social network presence has become absolutely necessary for every business. Here are some of the points that will help you understand why social media is so important for modern business industry.
- Better Branding Opportunity- Companies can use it to create a good image in the market. It gives them a human face so people feel more connected to the brand. Remember, customers always want to experience the brand, their values and USPs. It may not increase sales immediately, but brand image can sustain a company during tough times.
- Lead Generation- This is one of the main reasons why companies join social media. Fan page is a great place to meet new clients. Facebook and Twitter may term the loyal visitors as “fans” and “followers”, but once someone starts following a business, there is always an opportunity to sell a product/service to him. Besides, we tend to believe in a company that our friends trust. The “like” and “follow” is not just a sign, it’s a symbol of trust that brings other customers.
- Telling a Story- An ad generally ends within 30-seconds and there is no time to waste. However, in Facebook/Twitter, you can tell a story of your business. Why you are here? What are the products/services you are offering? Adding some images of your employees and office also helps people connect with the brand easily.
- Target Marketing- Unlike a TV/newspaper ad viewer, a fan or follower is more interested in your business. Ads compel people to watch their message, while fans decide which companies they want to follow. Hence, the messages you share, communicates with the right segment of audience.
- Customer Feedback- When a company launches a product, they eagerly wait for market response. If a product is well accepted, there is nothing to worry, but what if a product fails? Knowing the reasons behind customers’ like and dislike is very important, but can be costly. Traditional market survey costs hundreds of dollars and takes a long time. On the other hand, when the same company posts a question like “what do you think about our newly launched X product?” on their social media profiles, fans immediately start responding.
- Launching a New Product- You must have heard that some companies launch their products exclusively on Facebook. Have you ever thought why? A TV ad about the new item may cover an entire country, but when the same item is displayed on Facebook, the news spreads like fire.
- SERP Ranking- Type the name of any popular brand in Google and you will find their fan page in top 10 results. Search engines give extreme importance to social buzz. If people are talking about a brand, then there must be some good reasons behind it. That is why companies always connect their social profiles with business website to pull its ranking upwards as well.
Social media is the latest and biggest playground for companies. It helps them establish a strong corporate identity, allows constant product promotion and more importantly, makes the brand name memorable.
About Author: Hema Gupta is an accredited social media marketing expert at Webguru India. She often likes to write contents on several subjects regarding website design, search engine optimization and social media updates during her free time.