We all know that today the social media is the most powerful tool to connect all the people around the world within just simple applications. Also, most people live in social media than their real-life, which is not good for people but so good for social media companies. We will talk more about it while we find reasons why your business should use this social media.
When we talk about social media, it refers to an interactive technology that facilitates users to share content, information, status and more among a virtual community that consist variety of people around the world.
Do you know that there are 4.55 billion social media users around the world in October 2021? It’s equal to 57.6 percent of the total global population. Also, there is no downside; it’s growing day by day.
Below you will find the Statista report on what social media are effective and important for small businesses.You will find more infographics at Statista
So why we are waiting? Let’s see how important social media is for your business and why it is essential to use social media for your business.
1. To Build your Business Awareness
The first reason why you should use social media for your business is to build your business or brand awareness. When you start a business, basically only your friends and neighbours will know that you started it. But a business is not something like a secret.
In simple words, business awareness is letting others know about your business, which means about what you are buying and selling.
71% of small-to-midsized businesses use social media to market themselves, and of those who do so, 52% post at least daily, according to Clutch Small Business Survey(2018).
Consumers, as well as importers, need to be aware of your business. So, in that case, you have to reach more audiences and build your awareness between them. That’s why even local businesses tend to use social media to gather more audiences with simple steps.
2. To Reach Target Consumers
A business is all about solving problems, but you have to know what people’s problems you have solved. For example, if you are selling computer parts, your target consumers should be related to computers such as gamers, streamers, content creators etc.
So target consumers are people who require your product or service to continue their works. Also, they might be your potential customers too.
Reaching them out through social media can boost your revenue even you are a small business owner. But sometimes, you cannot reach your exact matching audience from one social media platform. In that case, you have to choose specific social media that your target consumers are in.
Nowadays, many local businesses tend to convert their ventures to online stores because they know that they can reach millions of audiences virtually than physically.
3. To Engage with your Consumers
Social media is a great communication method to engage with your consumers. Your customers might have many questions about your products or services, so reaching them out and answering their burning questions will be another successful way to increase your business growth.
People love to engage with brands who engage with them. So look at this that Hubspot who has billions of net worth is still replying to their audience.
Not only Hubspot but many brands are properly connected with their customers through social media. Also, it pretends that business or brand is always active.
4. To Keep Updating your Customers
Social media helps you keep your consumers up to date about your business. For example, when you are ready to introduce a new product or service to the market, you can post it on social media and let them know. In that way, your potential customers tend to make decisions before product launch. That’s one of the reasons why most business owners boost their sales with social media marketing on launch day.
Also, if the business wants to give discounts to make more sales, they can easily do it through social media by updating their customers about discounts and offers. Yet, Customers will also be interested to know about new updates on your products and services, so updating them can bring huge benefits to your business.
5. To get Feedbacks
Feedback is a key factor in improving your business. So social media help you to get more feedback from various customers. It helps to customize your future plans as well as improve the quality of your products and services.
Most social media’s comment sections are allowed to give feedback, but some social media have specific areas to leave feedback, such as Facebook has a review section on business pages. Also, you can use messaging services such as WhatsApp, Messenger etc.
Let’s say that you are running a local business in your area which is selling clothes. But if there no one is interested in clothes in your area, you will not get enough feedback to improve products or develop your business. But when you use social media, there are so many people who are interested and love to give feedback and encourage you.
6. To Find your Competitors
As I mentioned earlier, social media has connected billions of people around the world, so your competitors are also among them. If you have the one and only book shop in your local area, then you can never find your competitors. So that is the reason that many small businesses fail when converting them into online businesses and promoting them through social media.
It’s not hard to find your competitors in social media because the social media algorithm created to show what you are interested in. Simply, if you are searching for logos, social media start to show related content about logos. So you can easily find who are the existing designers and how demanded they are.
7. To give Opportunities for others
Another reason why you should use social media for your business is you can find so many experts in the field who are looking for an opportunity. You may know that it’s so hard to find employees who have more experience in the business.
But it has become so easy today because of social media. Many business owners tend to share job opportunities through social media and get the most experienced ones in the field. Also, it’s another good influence on the success of a business.
Do you know what? A recent survey by The Harris Poll finds that 71% of hiring decision-makers agree social media is an effective screening tool for applicants. Furthermore, 70% of managers said they have had success hiring candidates through social media.
The best social media is Linkedin to post jobs, but over time there are many social media that allows posting job vacancies today.
8. To Track Your Competitors
To move forward as a successful business, you have to be competitive. That’s why you must track your competitors, so social media allows you to do that.
It’s not a complex process. For example, think that your competitor had no more customer base like you but he uses some marketing strategies and builds his customer base than your one. So you get a signal that it’s essential to change your marketing plan and increase your customer base too.
Not only for the customer base but also every sale, product, service, opportunity, strategy and activity are good factors to compare with your competitors.
9. To Find influencers
Most likely clothing, jewellery, cosmetics, and luxury brands hire influencers to promote their products form of influencer marketing.
Influencer Marketing is a form of social media marketing in which influencers endorse a product or service to their audience. So your products or services go to a massive targeted customer base that already has built someone else.
Social media is the best place to find influencers related to your business category. You can see the below statistics from Mediakix that show how many businesses assume that influencer marketing is effective for their businesses from survey details.
10. To Save Money
One of the closest reasons why you should bring your business to social media is to save your money. Social media marketing never cost as much as traditional marketing. Also, traditional marketing is declining.
You can never reach millions of customer base by traditional marketing even you invest 1 million dollars. You can easily reach that amount of people for just 1,000 dollars by social media marketing.
In order to know, most businesses spend $200 to $350 per day on social media advertisements but if you are a beginner or small business owner, you can get started with a low budget and increase it as per your revenue. It’s good to have a 13% of your budget for social media marketing.
We have kept all the reasons why you should use social media on your business on the table, so it’s the chance for you to decide what kind of strategies and what kind of social media you should choose for your small business. A good decision can make you a millionaire. And bear in mind, the above numbers and percentages will probably go up and down so make sure to research the latest ones on the internet.