Can Social Media Help Businesses In 2024?

Table of Contents

Can Social Media Help Businesses?

Let's start with a simple fact: your company needs to be on social media.

It makes no difference whether you own a small local shop or a large national corporation. Social media should be an integral part of your company's marketing plan.

Social media networks enable you to engage with your customers, raise brand awareness, and improve leads and sales. Every month, more than three billion individuals use social media throughout the world, and the number of users and engagement on major platforms continues to rise.

What are the benefits of using social media for business? Consider that there are now more than 4.2 billion active social media users across the globe.

If you’re not taking advantage of social within your digital marketing strategy, you’re missing out on a fast, inexpensive, and effective way to reach almost half the world’s population.

Let’s look at the many ways in which social media can help you connect with your target audience, engage with customers and grow your business.

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Why Use Social Media?

A good question to ask yourself is why not? Social media is very interactive. It’s designed to be very engaging and engaging is what helps to sell things.

So there’s a clear advantage to using social media for marketing purposes. Here are some of the reasons why:

Personal Branding

The average American has almost 200 social media profiles, with 50% of them having a greater than 100 followers. Social media allows you to build a positive, personal brand that will attract the attention of potential clients. In other words, social media gives you the chance to create a unique, personal profile and connect with potential customers in a way that’s highly persuasive.

Social Media Marketing Tools

There are so many different social media tools out there to use that it can be hard to know where to start.

However, it’s easy to find out what you need to know. Here are a few social media tools that you can use to manage your social media marketing strategy.

Facebook

As the most widely used social media network, Facebook is the first place most businesses head for social media. The platform has more than 1.44 billion users (and growing), and a significant portion of them are active marketers and business owners.

Facebook offers many different social media marketing tools, which can help you share your content and reach more people.

How Social Media Benefits Your Audience

These are just some of the ways social media can benefit your audience:

Social media makes content more accessible and easier to share. This is a huge benefit for your business because sharing content helps you reach more people.

This is a huge benefit for your business because sharing content helps you reach more people. Studies have shown that social media has a positive impact on the performance of content marketing and customer acquisition.

Social media has a positive impact on the performance of content marketing and customer acquisition. An awesome infographic shows that social media can help increase customer loyalty and reduce costs for companies.

Social media can help increase customer loyalty and reduce costs for companies.

A Way For Your Audience To Engage With You

Social media gives your customers the opportunity to interact with you in a way that you just don’t have with traditional advertising.

Customers can tell you how well they like or dislike your products and services. They can leave you feedback and comments that will make it easy for you to ensure you improve your offerings and delivery standards.

Social media also allows you to offer live interaction with your customers. As soon as a customer needs to know, or hear more about, a product, service, or campaign, he can easily find you and start interacting with you.

This is one of the major benefits of social media for your business.

A Place For Them To Voice Their Opinions

What better place to engage with your customers than on social media? And where better to engage with them than your social channels, where your followers can actively listen and engage with you.

By leaving comments on your posts, and asking your followers to do the same on your Facebook or Twitter pages, you can build your community of fans. If you’re active on your social channels, you’re more likely to receive a response from your followers, as well as other members of your customer’s community.

Facebook or Twitter can even be great places to attract customers and potential leads by enabling you to advertise and give customers the option to share their views with their friends.

Social media also allows you to post live content, which can be a useful addition to your website and blog.

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A Chance To Listen And Respond

You can listen to your audience’s opinions, get in touch with their queries, and deal with common problems like product recalls. It’s a chance to listen, gather knowledge, respond to feedback, and move forward with improved products.

If you need to listen to the customers and take action, social media allows you to quickly collect a large amount of relevant information quickly.

In the Twitter age, brands have come to realize the importance of listening to their customers and taking action.

So what happens when we keep posting replies on social media and making new accounts without understanding the real impact on the business? At best, it does not take anything to answer a comment or respond to a user. However, most users are fed up with this.

Social Media And Your Business’s Goals

In the business world, it’s incredibly important to keep in mind that your customers are your direct competitors.

Take advantage of social media and use it to discover customer reviews and see what your competition is offering.

In turn, this can help you create your own solutions to your customers’ problems, as you’ll be in direct contact with those looking for the same products or services.

Additionally, social media can help you gain access to information that can help you meet your business goals. If you’re interested in a particular industry, you can use social media to engage with people in that industry and learn what’s important to them.

In order to have a successful social media strategy for your business, you need to develop a plan.

Social Media Isn’t Just For Millennials

For decades, businesses have traditionally focused on marketing to the youth market. This has given way to marketing geared towards teenagers and young adults. However, with the introduction of social media, it has become possible to build marketing campaigns specifically for different groups of consumers.

It is now easier than ever to target audiences based on age, gender, nationality, location, language, ethnicity, profession, education, job and even personal interests.

For example, it is easier to use social media to attract older and more affluent audiences. Such segments tend to have less expendable cash. However, this doesn’t mean that you can’t achieve those results by targeting them via social media marketing.

How Social Media Keeps You Up to Date On Your Competitors

There are so many social media outlets out there that it can be hard to keep up with all the changes and developments. The very nature of social media makes this very difficult. You can’t just forget about a social media platform when you’re on to another.

Fortunately, there are lots of helpful tools out there that can help keep you up to date. For example, you can use social analytics tools like Crimson Hexagon to discover what trends are popular on various social networks.

Through this type of research, you can gain valuable insight into how your competitors are engaging with their audience.

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Using Social Media As A Customer Service Tool

Employing social media as a customer service tool is becoming increasingly common, with nearly half of small businesses now using some form of social media for customer service (CBX).

When you’re using social media for customer service, it can help you deliver a seamless customer experience, address problems quickly and effectively, and resolve issues faster and more cost-effectively.

The right type of social media engagement is critical for a positive customer experience. That’s why the customer service teams at Orbit Video, their clients, and other video companies promote their own accounts on popular social media platforms such as Facebook, LinkedIn, Twitter and YouTube, among others.

How To Succeed With Social Media

Let’s start with the obvious benefits of social media for business, namely:

The sheer number of potential customers and followers that exist across various social media networks is astounding, all you have to do is create a presence.

As Twitter continues to grow, its reach continues to grow, as well, reaching many more potential customers. Even people who aren’t necessarily on Twitter are still posting updates, photos and videos to the platform, which results in more and more people coming into contact with your business.

The Engagement

It’s no secret that social media users are far more likely to visit a site if they like the page on which the content appears.

Popular Platforms

Social media gives you the opportunity to interact with your audience in a more direct and personal way.

If you are based in the U.S., your best bet is Facebook. In fact, Facebook has over 2 billion active users worldwide.

Instagram, Snapchat, Pinterest, Twitter, and LinkedIn are all equally popular as well.

Your business Facebook Page and Facebook ads are, by far, your most important outlets. It’s likely you already have a personal Facebook account for your friends and family. But, it’s a good idea to create a business Facebook page to keep track of your campaign and to keep them informed.

Facebook is the world’s largest social network. You can build an advertising strategy tailored to all your business’s needs based on the audience you want to reach.

Benefits For The Digital Age

Social media offers you the opportunity to expand your business’s reach with a wider customer base than ever before.

People and businesses of all shapes and sizes are using social media, and they’re increasingly using it to interact with businesses.

On Facebook alone, more than one billion people actively use the platform.

It’s estimated that 66% of customers prefer to interact with brands on social media platforms. So, if you’re not getting on the social media train, you’re losing out.

This goes for business owners, too. Social media is rapidly evolving. With the platform now being an important aspect of digital marketing strategy for companies big and small.

Social media offers several benefits that extend to all stages of the business lifecycle.

The Impact Of Social Media On Business Growth

You probably have a good idea of how social media can help your business in some ways, but there are also other benefits that can’t be ignored. Here are a few of the many ways in which you can make use of social media.

Boost Awareness

If you’re not on social media, you’re missing out on what is quickly becoming a great way to get your name out there and to build visibility and awareness about your brand. In a world where we have hundreds of options for news, entertainment, and communication, you must use as many as you can.

Social media is among the most efficient ways to promote your business, whether it’s on Facebook, Instagram, Twitter, or any of the many other networks that are out there.

Make Your Brand!

While there has been a recent shift toward distrust of government, NGOs, and the media, the 2021 Edelman Confidence Barometer indicated that business is an institution with a 61 percent degree of trust. People seek to brands for knowledge and insights, and there's no better place to convey that information than social media.

Whatever field you're in, social media gives you the chance to position yourself as a thought leader—the go-to source for knowledge on topics relevant to your expertise.

When it comes to establishing thought leadership, LinkedIn—particularly the LinkedIn Publishing Platform—is a terrific place to start.

Keep Yourself At The Forefront Of Your Consciousness

According to Pew Research Center research from 2021, 70% of social media users log into their accounts at least once each day, and many people (49%) admit to monitoring social media numerous times per day.

Every time your fans and followers check in to social media, you have the opportunity to communicate with them. Keep your social postings amusing and educational, and your fans will be happy to see fresh content in their feeds, keeping you top of mind so you're the first place they think of when they're ready to buy.

Of course, this does not imply that you must be connected to your accounts at all times.

The Advantages Of Social Media In Terms Of Business Development

Boost Traffic To Your Website

Posts and adverts on social media are effective strategies to generate visitors to your website. Sharing outstanding material from your blog or website to your social media networks is a great method to gain viewers as soon as a new piece is published. (UTM tracking tags can also be used to collect statistics on click-throughs!)

Architectural Digest, for example, previews Story content in its Instagram feed before directing followers to a “link in bio” where they can read the complete story (and see more lovely photos).

Generate Leads

Potential clients can express interest in your business and products through social media in a simple and low-commitment method. Many social networks offer advertising formats specifically tailored to capture leads because lead generation is such an essential benefit of social media for a company.

McCarthy and Stone, for example, used Facebook lead ads to allow those who were interested in learning more about their real estate projects to do so with only a few taps.

The advertising generated 4.3 times more sales leads than the previous year at a cost that was two times less than more standard digital prospecting efforts with real estate ads.

Increase Sales

Your social media accounts are an important aspect of your sales funnel, which is the process of converting a new contact into a customer. (Warning: this is referred to as social selling!)

Social networks will become increasingly significant for product discovery and ecommerce as the number of individuals utilizing social media continues to rise and social sales tools expand. The time has come to link your social marketing activities to your sales objectives.

Collaborate With Influencers

Consumer decisions are heavily influenced by recommendations from friends and family, as well as reviews. You create brand awareness and credibility by getting people talking about your product or company on social media, and you set yourself up for more sales.

Partnering with influencers—people who have a significant social media following and can bring that following's attention to your brand—is one of the most effective ways to drive social word of mouth.

Adore Me, a lingerie retailer, collaborated with influencers for a series of unboxing videos on Instagram and noticed a significant increase in traffic from material included directly in the influencers' accounts.

Content Should Be Promoted

Using social media to promote your content is a terrific method to get your smart, well-researched information in front of new people, demonstrating your knowledge and expanding your following.

Hootsuite, for example, used a series of infographics to share exciting facts and numbers from their newest Digital 2021 worldwide report with their Twitter following.

Become Well-Known

Your material is exposed to new audiences—their friends and followers—as people like, comment, and share your social postings. This concept is taken a step further when it becomes viral.

Your material spreads over the internet as people share it with their networks, and their networks share it with their networks, potentially resulting in thousands or even millions of shares.

This exposure is especially valuable because, in a world where there is far more content than any single individual can ever consume, a friend's social share functions as a kind of pre-screening.

Of course, going viral isn't easy, but it would be nearly impossible without social media.

Management Of One's Reputation

Whether or whether you're available to answer, your customers are already talking about you on social media. You and your team may pick up on critical social posts about your business to emphasize the positive and handle the negative before it becomes a major issue if you and your team are on top of it.

For instance, if customers are expressing their dissatisfaction with a poor customer service experience.

Communication During A Crisis

Is there a plan in place at your organization to cope with a crisis? While tiny firms may not experience a crisis on the same scale as Starbucks, a lesser number of shares might have a devastating effect inside a close-knit community or specialty.

When it comes to responding to crises on social media, silence is not an option. Maintaining well-run and maintained social accounts, as well as having a plan in place, may assist ensure that you're there and ready to engage in the event that the worst happens.

Advertising That Is Specifically Targeted

Social media advertising is a low-cost approach to promote your company and disseminate content. They also provide advanced targeting tools, allowing you to reach the ideal audience while maximizing your expenditure.

Marketers who understand the value of social media for business have embraced it: by 2022, advertisers are anticipated to spend more than $56 billion on social media product promotion.

Verb energy bars, for example, ran a campaign that reached a custom audience of U.S. adults across all of Facebook's apps and services.

Conclusion

If you’re looking for a way to promote your brand or build a loyal customer base, consider using social media. With the growing popularity of social media, you’ll be on the cutting edge if you look to improve your social media strategy.

I trust you enjoyed this article about Can Social Media Help Businesses? Would you please stay tuned for more articles to come? Take care!

JeannetteZ

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Thoughts? Ideas? Questions? I would love to hear from you. Please leave me your questions, experiences, remarks, and suggestions about Can Social Media Help Businesses, in the comments below. You can also contact me by email at Jeannette@WorkFromAnywhereInTheWorld.com.