In the world of business, social media has become essential in recent years. It is a method of reaching your customers and prospects when, where, and how they like to communicate. Social media is like word of mouth marketing but quicker and easier. It’s more than just a conversation with one friend, it has the potential of reaching thousands or more “friends” who are listening, talking, and sharing information. Let’s look at why Social Media is so important and good for business.
- Builds on traditional marketing efforts
Marketing in the past has been television, newspapers, or internet campaigns used to sell a product or service. However, marketing is focused on what the customer needs and how to provide those needs in the most efficient way. Social media has become one of the most powerful forms of marketing. When it is integrated into the marketing strategy, not only is it cost effective, but it reaches your audience much faster and with more precision.
- It Can Increase Your Bottom Line
Having a social media presence can produce favorable results. Creating customer loyalty and increasing your bottom line takes a great amount of time and effort. Having a Facebook page or Twitter account is not going to increase your revenue immediately, but it may shorten your sales cycle. If you reach out to your customers with valuable information, to answer questions, announce a new product or service offerings, providing discounts, specials or gifts, you will increase customer engagement. Building lasting and meaningful relationships with your customer through customer engagement can increase your bottom line. After all, people buy from others they know and trust!
- Connect with Your Audience in a Meaningful Way
People usually buy the same product or service time and time again because of a relationship, satisfaction, or habit. We are all creatures of habit, social creatures, who want to feel a sense of connection and that is what social media provides to millions of people on a daily basis. With social media you can effectively connect and communicate to create stronger relationships with your customer. If your customer is on Facebook, Twitter, or LinkedIn why not join the conversation? It is a cost effective and quick way to learn more about your customer.
- Increase Brand Awareness and Visibility
Business owners use social media to close sales and create buzz for their business. Facebook has over 250 million active users, Twitter has 175 million users, and LinkedIn has more than 100 million members. These large numbers represent opportunities to expand brand awareness and visibility. If users repeatedly see your business name on these sites, eventually they will notice you.
- Improve Customer Communication, Retention, and Referrals
To obtain repeat business, you must know your customers’ wants and needs and be able to provide them. It is simple to use social media to listen, discuss, and share with your customers. If they are satisfied with your product or service they can be your best way to spread the good news!
Recently Hickey Finn & Co has joined the social media brigade. Please follow, friend, and join us. We will be happy to discuss any questions, ideas, or suggestions you have for us!