The average person spends two and a half hours on social media every single day – making social media for small business a crucial tool for interacting with countless brands and potential customers. As such, businesses without a strong online presence are failing to capitalize on the many benefits that social media can bring forth.
What are the benefits of social media for a small businesses?
There are many different benefits of social media for small businesses. This includes:
Improved Brand Awareness.
Social media is vital to increasing brand visibility and recognition in the digital age. 93% of marketers agree that posting on social media has heightened their “business exposure,” making it easier for them to connect with potential customers and grow their business.
Community Building.
Building a sense of community is crucial to succeeding in the current climate. After all, it fosters a sense of loyalty between your brand and your customers, which encourages repeat custom and helps you to stay ahead of your competition.
By engaging with your customers through your social media channels, such as by replying to comments and DMs or hosting “live” sessions, you can begin to build a community of loyal customers.
The Chance to Educate Your Audience.
Your social media channels are more than a place to post advertisements; you can also use them to educate your audience. For example, you could share valuable information with them, not only relating to your brand but the industry as a whole. This helps you to establish yourself as a key player within your industry, meaning they are more likely to trust your brand moving forward. There may be some platforms better for your business, here’s your guide on which platform to choose for your business.
Improved Customer Retention.
According to a recent report, the cost of acquiring new customers is five times that of retaining existing customers – which is why maintaining your current customer base plays a crucial role in your overall success.
Social media can help in this regard, allowing you to stay connected to your customers, no matter where they may be in the world. For example, you can foster engagement by posting regular updates and check-ins or simply by responding to any messages, encouraging repeat custom and ensuring you remain at the forefront of your customers’ minds. After all, it’s hard to forget about your brand if they are constantly coming across your posts on social media.
The Opportunity to Gather Valuable Feedback.
Small businesses can also use social media to collect feedback and insights from their audience. For example, engagement metrics on a recent campaign can highlight what you are doing right and where there’s room for improvement. Insights gathered through social media can also be used to roll out new products or improve upon pre-existing products and services.
The Chance to Showcase Company Culture.
When executed correctly, your social media presence can “humanize” your brand. For example, you could use this as an opportunity to lift the curtain, giving customers an insight into how your brand is run or the faces behind the business.
This will further strengthen your relationship with your customers, as it demonstrates your authenticity as a brand. They feel as though they know you on a personal level, and any exchanges feel less transactional and sales-led as a result. This is particularly important when you consider that “70% of consumers spend more money on brands they perceive to be authentic.”
Improved recruitment strategies.
As outlined above, your social media presence can help to showcase company culture. While this is a great way to win over customers, it’s also a fantastic way to attract top talent. In fact, “59% of candidates use social media to research companies they are interested in” before applying for a role.
After all, by showcasing company values, culture, and achievements throughout your channels, you’re incentivizing applications from high-quality candidates whose goals and visions align with your own.
Partnerships and Collaborations.
Your social media presence helps ensure you remain not only on your customers’ radar but also on the radar of influencers and other potential collaborators. This opens the door to numerous profitable partnerships that can heighten your brand awareness, expand your reach, and enhance your overall credibility. For example, a recent study found that “businesses make $5.78 for every dollar they spend on influencer marketing.”
Improved Crisis Management.
Your social media profiles are also a great place to publicly address any negative press you receive as a form of crisis management. Doing so shows your customers that their concerns matter to you and that you are taking active steps to make things right again. This showcases a level of accountability that will help you retain your customer base but could also help repair your reputation and win over new customers.
Event promotion and product launches.
Your social media channels can also be used to promote upcoming releases, product launches, and events. For example, in addition to posting on your feed, you could generate hype and excitement surrounding your newest initiative by posting on your stories. This increases your reach considerably, as you’re increasing the chances of the algorithm working in your favor.
Thought leadership.
The more insight you can provide your followers, be they customers or business associates, the easier it will become to cement yourself as a leader within your industry. By taking on this position, you strengthen your chances of long-term success by ensuring you appear as trustworthy as possible.
Website traffic and SEO:
Your social media presence can also considerably improve your search engine optimization (SEO) efforts by driving more traffic towards your website or mobile app. In fact, 81% of website visits now come through social media, not organic searches. This increase in engagement also tends to increase sales conversions, too.
Celebrating milestones.
Your social media is also the perfect place to celebrate company milestones. Not only is this a great way to enhance your image and celebrate your achievements, but it also allows you to do so with your customers. This makes them feel as though they are part of your journey.
Final Thoughts.
In short, there are many reasons why you should carve out a presence for your brand on social media. It provides you with the opportunity to shine the spotlight on your business, increasing the amount of customer support you receive.
