The Impact of Social Media on Business in 2020

 

Social media has great importance as it is a link between the audience and the business. Before social media, organizations have to attend live events to search for their target audience. And, to attend one small event you have to pay lots of dollars which makes it difficult for the new business to connect with their target audience.

 

After social media has come into existence, there are several transformations like:

 

● Replacing the business cards with the email or messaging on the feed of consumers.

 

● Transforming the way how a business communicates with its audience.

 

● The biggest advantage is to the start-ups as they can connect with the audience virtually.

 

● Businesses can provide valuable information to their prospects even before asking anything.

 

Worth of Social Media

 

According to the stats, 73% of the marketers believe that social media marketing is the most prominent business strategy as most of the people are now active on social media. But, it is also true that your online presence won’t be increased in just one night, you have to work a lot to go there. To get the effective returns on investment you have to work hard and have to be patient. This the long term process but when the returns will start coming then there is no turning back.

 

How Social Media impacts Your Business?

 

 

Today, we will learn the ways how social media have an impact on social business. Along with it, how big brands use it for actionable giveaways. You can also build your social media account with the help of WordPress Website Design Company as they are experts and have good experience in this field.

 

1. Show Prominent Presence

 

On average, a person has almost eight social media accounts. If your business is on a few of the platforms then it is more than enough as your online brand presence will appear.

 

Have you heard about the rule of seven? If not then it states that a consumer needs to get the messages seven times before they purchase. In 2020, this number is actually too high as people are checking over 5000 brands per day. This is why social media is a great platform where you can gain brand awareness and rack up the views for your brand.

 

Even if you don’t pay for the ads platforms like Twitter and LinkedIn can provide you with decent consumers when the friends and employees will like or comment on your post.

 

2. Increase Customization

 

With the help of technology, you can easily do the personalization for your brand to achieve your goals. According to the marketers, businesses have the major priority to provide a personalized experience. Also, consumers give priority to the brands that think about their consumer.

 

Through the help of social media, you can personalize the content and send them the daily updates of your brand. This is a great way through which you can undergo personal interaction with your consumers. You should serve them the advertisements according to your personal interactions and interests.

 

The next feature that is catering to the needs of the business to stand out of the competition is messenger bots that are used primarily for Twitter and Facebook. If you use these messenger bots in a proper manner then it will help in personalizing the content to the next level.

 

Along with it, as compared with the email chatbots is the less crowded platform:

 

24.79% is the email open rate.

 

But the Chatbot open is almost 70 to 80%.

 

With the Chatbot, your audience can begin to see your business in the personal light. For the business, it will be a smart choice to use the chatbot. But Chatbot can be a bit difficult to use when the bot is unable to send the answer to the prospect’s questions.

 

Along with it, Chatbot is not the tool that is used to sell anything to the consumers. The conversation will begin with what is the need of the prospects. According to their needs and wants then we can think ahead about their purchase process.

 

3. Generate Loyalty

 

Another important impact of social media on the business is generating loyalty. The best idea to generate loyalty is by creating your own page on different social media platforms that will help in encouraging the interaction.

 

What’s the best part? When you post the content on different platforms then it will slowly help in increasing your consumer base. On your social media, you can add and share the post of your consumers that will help in cultivating the loyal consumer base. When you write the testimonials of your client then this will help to make a strong consumer fan base. Your products will be loved by the consumers and before you know about it, you will have a good consumer base.

 

Another way to generate loyalty is by forming private groups. It is believed that when you create private groups on social media then it will help in building the loyal following. When you create social media then consumers have already paid attention to your account. This will also break the barrier of opening any link or email. You have to engage with the people in your group on a regular basis. Consistency is the key to building a loyal consumer group. Social media is the most preferred way through which you can build the fan following and then transition them in a different channel like email.

 

4. Improving Collaboration with Industry

 

 

Social media is a great platform which will help in growing the collaboration with the industry. The common form of collaboration is influencer marketing and is also very effective.

 

Although social media is not just a platform for influencer marketing it is also a brand that will help to collaborate and link with the audience even if you just share the post. If you are not on social media than for collaborating with the industry you have to write a dedicated email or can also host the webinar. This is the best way especially for start-ups to attract their target industry.

 

5. You Can Add Credibility

 

If the audience is researching your brand before purchasing any product, the first place they will look out for your brand is your social media account. Through your social media account, consumers can check the discounts or check whether you have a quality product or not.

 

The prospects also look out for the likes and fan following that will show the credibility of your business. If the prospects check that your business has a good consumer base then it will boost prospects’ confidence to make their first purchase. So, to create social media accounts hire a WordPress developer that will make your account strong. Social media is a great way to check the reputation of your consumer.

 

6. Improve Referrals

 

One of the advantages is that social media is the virtual world of word-of-mouth platform. 71% of consumers buy the product from the brand through social media referrals. There are many businesses like Evernote or Dropbox that are based purely on referrals.

 

So, what are the ways to improve referrals? You can start it by providing a great service so that the consumer can be happy with your products. If you already have a collection of the amazing products then you can showcase them on the social media accounts so you can think of running the contests.

 

7. Build Your Own Brand

 

It is not important if your business is B2C or B2B but it is important to make your own personal brand. In the marketing field, there are certain experts that showcase their talent through social media that will help in growing their business.

 

So, think of the ideas that will help in building your brands. You can share the content like video, images, or live content that will help in building up your own brand.

 

8. Get the Feedback From Audience

 

 

When you launch a new product or service then it is very important for a brand to know about the feedback of the consumer. You can ask them certain questions like is the product safe? Is any feature missing? Is the price suitable?

 

So, to get answers to all these questions it is very important to know about the feedback for the audience.

 

Where to Start?

 

You have got all the examples about the impact of social media on the growth of your business. Now, it is time to think when you will start.

 

If you have a social media account, you have to look for the posting schedule. You can’t build the social media account overnight but you have to plan all the things so that you can return over a period of time.

 
Author’s Bio
 

Myself Gaurav Saraswat and I serve as an SEO executive at leading WordPress Development Company Techno Softwares, You can Hire WordPress Developer from Techno Softwares.

 

Designation: SEO Executive

 

Social Media: Facebook & Linkedin & Twitter

 

Power of Social Media for the 21st Century Marketing

 

In the virtual world of hash-tags, repost, likes, shares and subscribe, social media plays a significant role in marketing as well. Though it is platform to connect with people around the globe and stay updated on the current happenings, it is also proving to be a great place for earning customers for your brand.

 

As Statista suggests, by 2019, there will be approximately 2.77 billion social media users in the world. Imagine those many people knowing and connecting with your brand! Wouldn’t it be a successful platform to advertise and promote your products, services or brand?

 

We bet, it will be! Curating a list such key points, in this blog, we will be discussing the power of social media in the 21st century.

 

Why Is Social Media Marketing Important Today?

 

Social media marketing has completely transformed the traditional marketing approach. While once new products were announced and marketed using print, broadcast and referral approach, with social media marketing things are simpler and easily accessible.

 

And, if you are still going old school, you’re incurring a huge loss for your brand or organization. With that being said, let’s discuss why is social media marketing important? And, how avoiding it can cost your business a significant loss!

 

1. Connects Your Target Audience

 

Everyday millions of people scroll through a number of sites to find a product or service of their choice. Regardless of the industry or sector, social media provides you an opportunity to connect to those people. Every content, advertisement, video or infographic you share on social media platform increases your chances of interacting with your audience.

 

Brands like Nike, Dove, Coca-Cola, L’Oreal, etc., are perfect examples of audience engagement and interaction. And, we all know, how successful they are. Thus, it is fair to point that social media marketing helps in understanding your audience better than any other marketing approach ever could.

 

Besides, connecting to the target audience is easier and more personal through social media. All you need to do is – keep your social posts interesting and enlightening. The rest will take its course step by step.

 

2. Works as a Grapevine

 

Happy customers are loyal customers! And, they further bring more value with themselves. For instance, how many times have you recommended your friends or family a shopping site just because you were satisfied with its service?

 

We guess, many! Similar is the case with social media marketing. If your audience is happy with your campaigns and services your brand is offering, they will promote it without saying. As per facts, 71% of clients who had a positive social media service experience with a brand are likely to suggest it to others.

 

And, this is not all! With just the word-of-mouth your brand can gain customers you didn’t even know existed. In other words, connecting to the audience through social media is the fastest way to create brand awareness.

 

As we say, it works like a grapevine. From one person to another, the information travels so fast that the future of the product or service can be easily determined given the type of response you get from your audience.

 

3. Builds Brand Authority

 

Social media marketing totally works on the type of content you are sharing with your audience. Brands that have the best products and have deep understanding of the benefits of their products impresses the audience the most.

 

For a simple reason, the audience or customers are curious to know everything about the product you are proposing to them. Until and unless you offer them the best of the knowledge of the product, they might not trust your brand.

 

That’s the reason why brands focus on promoting their survival story, history and testimonials. These types of posts tell the customers what’s unique about the brand. As a matter of fact, it builds trust of the audience in the brand.

 

Other than this, being transparent with your customers is another strong authority building social media strategy. Brands address criticisms as they arise, which can help in gaining the faith customers place in your business.

 

4. Less Investment, More ROI

 

Social media marketing is a prompt, inexpensive, and the most effective way to reach a wider audience. It helps you cut unnecessary marketing costs, without compromising the output. How?

 

Well, as a matter of fact, social media platforms include millions of potential customers, colleagues, and competitors. And, they are accessible to everyone for free. Also, an average Facebook ad costs $0.97 which is way less than what you would have paid for printing out a few flyers.

 

Other than this, social media marketing also acts as a real time saver. According to statistics, 95% of the marketing professionals who use social media confirmed that just by spending 6 hours per week on social media increased exposure for their businesses. Could you expect any better way than this for marketing?

 

5. Multiplies Organic Traffic

 

Another major highlight of social media marketing is the fact that it helps in driving organic traffic to your brand’s website. As you post content with keywords and images related to your brand and category, it attracts new potential customers to your site/page searching for the same.

 

The more knowledgeable your content information is, the higher the chances of driving traffic to your website. In addition, being active on social media also draws traffic to the website/page. The improved visibility and engagement with the content helps to boost its reach.

 

And, therefore, is an imperative part of any strategy to develop organic high quality back-links. Other than that, optimizing your brand’s social media profile helps in making your brand appear in the organic search listings.

 

6. Drive Sales

 

As per statistics, marketers who have been using social media for more than 3 years say that it has helped them increase sales. The major reason behind this progress is that your audience is way more active and approachable on social media.

 

Besides, when you amalgamate your brand with the known faces, it attracts your potential customers. For instance, travel influencers like Johnny Jet, Chris Burkard, Louis Cole, etc., have a huge number of followers on their social media accounts. People tend to visit the places, try food joints, and take part in activities suggested by them.

 

Thus, their partnership with various brands likes Marriott, Toyota, MTV, Greyhound, etc., helps the companies in driving sales. All you need to do is partner with these influencers to feature your product in their posts, pictures or videos. Also, you can have them tell an appealing story or journey of your brand.

 

And, that is not all! When the influencers give open reviews about your brand or provide tutorials about your product/service, the audience ought to try it. As a result, increase in sale and popularity of the brand.

 

7. Aids in Managing Brand Reputation

 

Maintaining online reputation of the brand is significant as one bad review from an unsatisfied customer can bring a wedge to your business. As per a survey by BrightLocal, 88% of the people confirmed they trust online reviews as much as they trust personal recommendations.

 

Therefore, it is only fair to say that if your brand develops a bad reputation on social media, you might lose your customers. For instance, brands like Adidas, Dove, Uber, McDonald, etc., experienced negative response from the audience due to their appalling social media campaigns. However, they were quick to remedy it by apologizing or withdrawing the services at once.

 

In other words, defamation itself may not damage your brand. But, the way your brand responds to it can straightforwardly impact its reputation. Thus, always try to be pro-active remedial on the comments or reviews left by the customers as they can make or break your brand reputation.

 

8. Humanizes Your Brand

 

Unless you are just looking for a way to survive in the market, it is imperative to establish a connection with your audience. People must know that they are not just a potential target for your brand. And, you are not just an establishment looking for a way to make money.

 

The audience should believe in your brand values and how your product or services are developed keeping in mind the best interests of the customers. The simplest way to achieve this is through social media.

 

Instead of copy-pasting or relying on automated replies, try to know your audience. Understand their concern and reply accordingly. Most of the times what puts off a consumer is negligible response from the brand. When it’s your mistake or consumers are experiencing a problem, acknowledge and be transparent about it. This proves you care about your clients and they hold value for your business.

 

Wendy’s Facebook page is an excellent example of brand-customer connection. They actually take time to read and respond to their customer complaints. And, this is what makes their brand standout from its competitors!

 

9. Watch Your Competition

 

Apart from finding your audience’s preferences, tastes and behavior, social media also helps in monitoring the competition. For example, if your competitor’s product or service is lagging on some platform, you can use it to win new customers by directly addressing it.

 

Famous brand like Nokia failed miserably when it ignored the rising demand of upgraded software. The company kept focusing on the hardware which led to its offset. In that period of time, Samsung, Sony, HTC, Apple, etc., took liberty of it and launched phones that outperformed than Nokia.

 

Though social media marketing was not prevalent at that time, it is now. You can find various ways to map your progress as well as your competitor’s. Some popular tools for monitoring competitors include SocialMention, Marketing Gardener, SEMRush, etc.

 

After Thoughts

 

Social media marketing is here to stay! If you are still unaware of the benefits of social media marketing, then, it’s time to get in the game. The longer you wait, the more your business will suffer. However, with strategic planning and proper implementation, it can help you flourish your business.

 
Author Bio:
 

The blog is presented by Sharda University. Sharda University is one of the largest universities in Delhi National Capital Region (NCR) offering 216 varied programmes.

 
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