Why Every Business Needs Social Media?

Introduction 

Social media presence has increasingly become necessary for all businesses nowadays. Over the years, social media marketing has grown exponentially, with virtually every organization maintaining a social media presence. It is important to realize that regular communication with customers is critical to business success, and social media is the best medium to do it most effectively. Social media platforms allow businesses to not only listen to their customers but also understand their sentiments (Holt, 2016). This ultimately gives businesses a chance to share their views with their respective customers on social media. It is estimated that there are over 3 billion social media users around the globe, and businesses can take advantage of the potential of social media to expand their market reach. Besides, popular social media platforms such as Facebook, Twitter and Pinterest have become marketing giants, offering valuable data about customers, as well as a free way to reach them. Therefore, it is clear that social media for business is no longer optional considering the benefits businesses can utilize. 

Benefits of Social Media for Businesses 

Social media offers excellent marketing opportunities for businesses today. They help businesses engage with their customers more effectively. The following are the reasons why every business needs social media. 

Valuable Customer Insights 

Primarily, social media helps in generating a significant amount of customer data in real-time. Every single day, there are millions of posts by customers on social media which may provide businesses with relevant information that can be of great benefit to businesses. For instance, social media can provide information regarding who the customers are, what they like, as well as how they feel about a particular brand. This implies that businesses can gather customer information across all social media networks in real-time, gauge customer sentiment, find the conversations happening around their brands, and run real-time reports (Holt, 2016). As such, through constant active engagement and social media listening, businesses can gather relevant information that can help in making smarter business decisions. Therefore, social media is an important customer engagement tool for businesses. 

Increasing Brand Awareness and Loyalty 

When a business has a presence on social media, it makes it easier for customers to find and connect with it. A business that connects with its customers on social media is more likely to increase customer retention, as well as brand loyalty. It is estimated that 53 percent of Americans who follow brands on social media are more loyal to those brands. It is critical for a business to prove its credibility and gain customer confidence. As such, businesses should maintain a social media presence to establish a strong bond with their customers. Such a bond will ultimately translate to brand loyalty. As a brand, a business should engage its customers using the various social media networks. For instance, creative social media posts can be used to interact with customers, and give them an opportunity to engage with the business. 

Business Mouthpiece 

A positive word-of-mouth helps a business to gain more customers, particularly through social media. Social media channels are effective tools for keeping customers updated about company policies, new product launches, as well as team activities. It is worth realizing that online social networking can give a business a chance to build narration to capture the interests of its customers. For instance, each tweet or Facebook post can share company values, ethics and much more. However, businesses should ensure that what they share on social media is relevant. 

Competitive Advantage 

Currently, most businesses are investing heavily in building a positive online social presence to gain business. Therefore, a business that is consistent with maintaining a positive social media presence builds trust with customers, gaining a competitive edge in the market (Kumar et al., 2016). Lack of a social media presence deprives a business of all its benefits, and they will be automatically passed to the competitor. This is because social media presence has become significantly vital to earn customer trust. Thus, businesses that have recognized the importance of social media presence are more likely to gain a competitive edge in the market and can be successful. 

Marketing Channels 

Driving sales is considered one of the most significant merits of social media. Almost all social media channels have effective marketing machinery in place, and they can help brands to connect with their customers (Smith, 2017). For instance, Twitter's Marketing Campaigns and Facebook's Sponsored Posts are some of the most popular ways to market business products and services. It is important to realize that most global brands link their marketing campaigns with their social media profiles to increase followers. Thus, it is demonstrable that the power of social media in terms of marketing is huge, and it can lead to business success when used appropriately. Besides, the benefits generated by social media are measurable. As such, there is no reason why business should not use social media. 

Building Lasting Relationships with Customers 

Essentially, social media is not about driving sales alone; it is a two-way channel through which business has the opportunity to enrich relationships with its customers (Sashi, 2012). For instance, social media allows tourism businesses to create a dialogue with travelers; hence, establishing relationships with customers before, during and after they have booked a trip with the firm. Such a discussion between businesses and customers is something that traditional advertising cannot achieve. Therefore, social media is critical for business growth and sustainability. 

Conclusion 

In conclusion, it is demonstrable that social media has a treasure trove of benefits that can help grow businesses. By using social media to learn more about customers, extend brand reach and establish relationships with customers, businesses can enjoy growth. Organizations should select the most appropriate social channels and step in with the right social strategy. The right combination of informative and promotional posts is essential for generating the desired business outcomes. Social media requires experience and insights to ensure meaningful use. If everything is done right, investing in social media will result in positive and beneficial outcomes. 

References 

Holt, D. (2016). Branding in the age of social media. Harvard business review , 94 (3), 40-50. 

Kumar, A., Bezawada, R., Rishika, R., Janakiraman, R., & Kannan, P. K. (2016). From social to sale: The effects of firm-generated content in social media on customer behavior. Journal of Marketing , 80 (1), 7-25. http://journals.ama.org/doi/abs/10.1509/jm.14.0249?code=amma-site 

Sashi, C. M. (2012). Customer engagement, buyer-seller relationships, and social media. Management decision , 50 (2), 253-272. https://www.emeraldinsight.com/doi/abs/10.1108/00251741211203551 

Smith, K. (September 8, 2017). The Importance of Social Media in Business. Lyfe Marketing https://www.lyfemarketing.com/blog/importance-social-media-business/