If you own a business, you have probably read dozens of blog posts and articles about the importance of social media. Twitter, Facebook, Instagram and other social media platforms have become the lifeblood of the Web. We are at a point where having a presence on social media is no longer a competitive advantage, it’s a customer expectation.
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You may not see the value in spending time and money on resources to manage a social media strategy. Many companies, especially those on a limited budget, are hesitant. It can be difficult to invest in something that doesn’t offer a quick and clear return on investment.
On the other hand, these are the same businesses that state word-of-mouth marketing as their number one source of business.
The truth is that social media is word-of-mouth marketing. The only difference is that it’s at scale to a global audience. When customers and potential customers are having conversations about your product or service, they are not the ones for listening, the world is.
With social media working 24 hours a day, seven days a week, this can offer huge benefits to your business. Here are just three to get you started:
Brand Awareness
We live in a world attached to our mobile devices. Around 70% of smartphone users are on Facebook and they are checking their accounts on average 14x a day*.
Pretty crazy, huh? It’s the world we live in.
If you want to get your products and services in front of your customers, there is no easier, cost effective way to raise brand awareness.
The reality is that customers are online talking about you. Isn’t that conversation that you would like to be a part of? After all, conversations lead to relationships. Over time, these relationships lead to a return on investment because people do business with other people hey know, like and trust.
This is the exact same process that makes a word of mouth marketing in so effective.
Market Re
search
Not only the social media increase your brand awareness dramatically, it can help you meet a variety of objectives. For example, through social listening you can gain valuable market research in a time and cost effective manner. Your findings can then be used to improve your product or service offering and brand messaging.
Social Proof
As mentioned, people buy from businesses that they trust. They don’t want to risk their money on a product or service that can’t deliver the desired result.
One of the greatest ways to lower that barrier and increase the likelihood of a sale is to reduce that risk for t
he consumer. The great thing about social media is that your current customers do that for you.
When prospects and potential customers see that a friend, family member or somebody within the social media community either likes you, follows you or has purchased from you in the past, they begin to trust your business because they trust their friends.
With likes, comments, shares, retweets and other engagements showing up in the news feeds of connections, there is a massive opportunity to grow your customer base.
If you really break it down social media is word of mouth marketing on steroids. It raises your voice and amplifies your message. Now, it does take work and consistency is key but it’s the reps that build muscle. Start small, take the time to engage with your audience and the results will speak for themselves.
Thank you for reading and if you found this post valuable, I’d love to hear from you in the comments below.
*Sources
http://www.dailymail.co.uk/sciencetech/article-2300466/Smartphone-users-check-Facebook-14-times-day-admit-looking-movies.html
