This article was written by Kristen Herhold. Kristen is a content writer and marketer at Clutch, a B2B research firm in the heart of Washington, D.C. Connect with her on LinkedIn, or reach out with any questions, comments, or concerns at [email protected] or 202-840-6690.
Social media can serve as a testing ground for businesses, nurture customer relationships, and provide brand identity. Businesses need social media to succeed in this increasingly technology-centric world.
52 percent of social media marketers believe social media has a positive effect on their company’s revenue and sales, a number that continues to increase. As social media grows, it is essential for businesses to also be on social networks.
B2B ratings and reviews site Clutch partnered with Smart Insights to survey 344 social media marketers from around the world to determine the value of social media. They determined that social media is a powerful marketing tool and will only increase in value for businesses.
3 Reasons Why Businesses Need Social Media
As social media continues to grow, companies need to invest in it, and here are three very important reasons why:
Social Media Serves as a Testing Ground
Social media has become a megaphone for opinions. Marketers can use this medium to ask customers what they want before money is invested into creating a product that could potentially fail.
“For direct-response marketers and advertisers, or people who influence sales inside of a company, social media is a really powerful channel to test, measure, and learn,” said Josh Krakauer, founder and CEO of Sculpt. “They can measure results with fantastic data from the platform that provide insight and attribution, and they can learn from the campaigns they’re running to achieve a better understanding of the audience and customers they’re trying to acquire.”
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Social Media Nurtures Customer Relationships
In this fast-paced world, customers want answers immediately. Emails and customer service calls are still needed assets, but social media is one of the best ways to communicate quickly with your audience.
“Consumers today want more than simple transactions with businesses they work with. They want a relationship,” said Steve Pearson, CEO of Friendemic. “Social media is where people turn to hear from and speak with brands and businesses they’re interested in. I would say if businesses are not active on social media, you’re ignoring your customers. You’d never do that in person. Don’t do it online.”
Social Media Provides Brand Identity
Brand identity and customer loyalty are closely related. Products can often be equally associated with a lifestyle as the actual product or service that’s for sale (e.g. Kylie Jenner’s Lip Kits). What does your social media account say about you? How are your current customers interacting on your social media page?
“Giving your brand more personality is essential to make it more shareable and likeable, and this can help conversion and retention through the power of social proof and amplification,” said Dave Chaffey, CEO of Smart Insights.
Businesses Need Social Media
Your customers may not visit your store or website every day, but they likely check their Facebook, Instagram or Twitter account multiple times per day. If you want to know where your customers are, they’re on the other side of their smart device or laptop, and they’re checking their social media accounts. There are limitless possibilities for building a faithful customer base through social media. How will you use this powerful resource?