No matter your experience level in business or entrepreneurialism, social media can be an invaluable asset to your endeavors. Here are some ways it can help expand and strengthen your marketing initiatives.
Social media allows consumers to engage with brands in ways never possible before, building relationships that may otherwise not have been possible. Businesses also gain valuable insight into consumer behaviors and trends through this medium.
Social media is a form of word-of-mouth marketing
Word-of-mouth marketing (WOM), is an effective form of promotion that relies on word of mouth to spread the news about a product or service to their friends. WOM can often prove more successful than traditional advertising approaches and is an invaluable way to expand business exposure.
Word-of-mouth marketing was traditionally limited to offline ads; however, technology has dramatically transformed how people share and exchange information.
Social media is an online communication medium that enables individuals to form connections through various mediums, including websites, social networks, video sharing services, e-commerce stores and blogging.
Social media provides users with an engaging platform where they can exchange views and build relationships – this makes it an excellent starting point if you want to develop your word-of-mouth marketing strategy.
General Motors ran a viral social media campaign asking its followers to color their profile pictures purple in support of cancer research, creating an impressive campaign and garnering donations to the American Cancer Society.
It’s a great way to build community
Social media can be an incredible asset to small businesses looking to build community. Here you can connect with people all over the globe and share ideas, insights and emotions.
Social media provides brands with an excellent opportunity to build relationships with customers and garner trust among followers, while discussing important public issues and monitoring consumer sentiment are invaluable assets for their development as businesses.
Building an engaged online community requires regular engagement with followers and their feedback; it’s vital that you remain accessible and approachable at all times.
Social media can not only strengthen relationships with your target audience, but can also be an invaluable way to secure more top-of-funnel leads. Your presence online exposes potential buyers to your brand – even if they don’t make purchases immediately through it.
As part of building an effective community, it’s essential that you offer value to your followers and assist with solving their issues. This could include sharing helpful tips or engaging in conversations or addressing questions and concerns raised.
It’s a great way to promote your brand
An effective social media presence for your business can significantly elevate its image, making you look more trustworthy, dependable, and approachable. Furthermore, social media can set you apart from competitors by demonstrating thought leadership through thought-provoking content creation or offering fresh perspectives.
Successful social media strategies focus on providing relevant, engaging content that draws customers in. This could range from blog posts about issues they care about to short videos or photos that demonstrate your company’s unique brand voice.
Consideration should also be given to the specific attributes of each social channel, including its language, audience, ad-hoc mechanisms and times when peak attention and interactions will take place.
Since each platform is a community, your business must engage its users by being active on its channels and responding to comments, liking and sharing posts by others, running live streams, posting polls or real-time questions that spark discussions, or reposting other people’s content.
It’s a great way to get feedback
Social media provides an ideal venue for gathering feedback on marketing efforts, with followers becoming willing to provide input. Simply using a few strategies, social media can become the source for quality feedback on products or services being sold by businesses.
Social media provides businesses with direct access to their target audiences, making it easier for customers to contact you with inquiries or issues about your business.
Social media also offers another key advantage – tracking key terms and hashtags can give insight into what customers are talking about your brand, enabling you to develop products or services based on what their buzzing about.
When receiving feedback from your followers via social media, make sure that you respond immediately and directly. This will demonstrate to them that they matter as individuals whose opinions matter to you.