Benefit of Social Media

25 Undeniable Benefits of Social Media for Business

25 Undeniable Benefits of Social Media for Business!

As a business owner you must understand by now the risks you’re assuming if you’re not using social media in your business marketing mix. There is the potential for loss in revenue, damage to your reputation, looking obsolete, and more. There’s a lot to worry about if you’re not on social.

To add some upsides to the conversation, in this article we are going to share 25 undeniable benefits of social media for business. Powerful stuff that you can master and implement in 2020! The benefits of social media for business are plentiful. In this post, we list 25 of the strongest benefits that cannot be denied.

These benefits of social media for business, and especially small businesses, are compelling, actionable, and cost-effective. You will be able to clearly see what social media can do for you and your business.

1. Tell YOUR Story & Enrich your Company Culture

Everyone has a story: every person, every group, and every business – even your business. And as emotional people, we’re wired to react to those stories – we make decisions based on the emotions those stories invoke. You don’t have to have a viral story like the one below, though. Normal, everyday stories revolving around your brand will still be impactful – so share them with abandon!

2. Uncover Really Accurate Audience Data to Supercharge Your Marketing Efforts

How much do you know about your customers? Probably not too much, right? Customer research is usually expensive, but not on social. There, you have free access to the tools you need to drill deep and connect with your customers, cutting out fat until you’re left with a clear image of a buyer persona that will buy whatever you’re selling.

3. Connect Online With Industry Influencers Who Love Your Company to Build Awareness and Credibility

83% of consumers trust peer recommendations over advertising. That goes for B2B as well as B2C. Find a respected community member who is also a customer. Grab a coffee together and explore if they will be willing to promote your business.

This is an opportunity to find out why they like working with your company and your team. Perhaps there is a mutual opportunity you can both get behind? Get creative, and be willing to think outside the box. If you can gain this influencer’s support, then companies that come under this favourable influence will be willing to use your product or service if this trusted and influential individual recommends it.

Partnering with the right person to promote your brand on social media can be a winning ticket and significantly boost your bottom line.

4. Replace Old (Expensive) Marketing Channels With New (Less Expensive) Ones

What if we told you that all the customers you usually find during trade show appearances are members of a certain Facebook group? If you’re on social media, you have a free line to all of them. You can participate, share your content, and when the time is right, offer your products and services.

Advantages of social media for business
Example: Various groups for Canadian photographers – a great place to hang for businesses selling photography equipment.

Believe it or not, social media marketing is less expensive than traditional marketing. Find that hard to believe? Check out our comparison of digital marketing and traditional marketing.

5. Boost Trust and Drive Sales With Online Testimonials

Online testimonials that are genuine are the real deal – they provide social proof, appeal to emotions, and have elements of storytelling. 84% of people trust them as much as they trust personal recommendations – which is why you need to share them with the world! There are so many advantages of social media for small business, with many of them very simple to implement.

6. Social Media Signals Will Help You Get Found Organically

Google doesn’t (officially) take likes and tweets into consideration when ranking a specific website. Still, Google’s own Matt Cutts (former head of webspam team) explains how good social media campaigns drive traffic and impact awareness – which helps with click-through-rates – and that definitely IS something that Google, and other search engines, takes into consideration.

7. Grow the Actual Value of your Business – Your Company’s Brand Equity

Convincing someone to become a customer hinges on, among other things, how much value they place on your brand. One of the benefits of social media for business is that you can use Facebook and Twitter to constantly provide quality information free of charge and earn that trust gradually and genuinely.

Grow the Actual Value of your Business

8. Drive More Visitors To Your Trade Show Booth

If you’re still relying on trade shows, you must have noticed that attendance is in decline these last few years. A lot of businesses now communicate via social when and where they will make an appearance, nudge potential customers to visit and have a chat with them in person.

9. Connect Your Field Events To the Online World and See your Brand Go Viral

Do you do any Experiential (face-to-face) marketing? This includes sampling, sponsorship events, customer events, product launches, fundraisers. Build a social aspect into every one of these events your company holds.

10. Give Your Reps a Powerful Sales Weapon & Increase Your Revenue

Your sales reps are no longer able to generate the same amount of business through traditional methods. As a result, your direct sales costs are eating at your profit margin. With social, they are provided a host of new strategies that work for lead generation. Help them create and nurture relationships and bring in more leads with a solid strategy for social selling.

11. Tap Into the ‘Social’ Market & Find New Opportunities

A social marketplace gets you in front of clients that don’t visit trade shows, don’t listen to the radio, and are not subscribed to your email lists. That means that, without social, reaching them is almost impossible. However, if you go to the social networks they congregate in (Facebook, Twitter, or LinkedIn), you will – possibly for the first time – have a chance to get noticed.

12. Strengthen Your Competitive Advantage by Forging New Connections

Not everything in business is about leads, and there’s a lot to be said about connections with suppliers, partners, and the employment market. Among the many benefits of social for business is the ability to connect with others in your industry through various groups. With a bit of luck, you can find a new, more valuable supplier, a new strategic relationship, strengthen your links to important communities, or source an industry expert who’s willing to work for you.

13. Become An Industry Thought Leader On New Online Platforms

People love to do business with brands that have a solid reputation, and social media gives you an opportunity to build one easily. For example, take Neil Patel, a personal brand in digital marketing. While there are others who are just as good as he is, his social media persona allows him to stand head and shoulders above them – and his businesses benefit from it.

Become An Industry Thought Leader On New Online Platforms

14. Humanize Your Brand

People are generally averse to doing business with huge corporations. Instead, they prefer to work with other people who share their stories and convictions. One of the benefits of social media marketing for businesses is that it allows you to build a ‘human’ persona around your brand, which is something that will boost both your engagement and sales.

15. Excel In Customer Service

Setting up a customer service department can be a drain of resources. Most small businesses just don’t do it, and the calls come in to the owner and other employees. Skip all that hassle and hire a VA to handle customer support over your social media channels – it’s faster and cheaper!

Excel In Customer Service
Example: Sometimes, you can even go above and beyond – Peter wished, Morton’s granted.

16. Find Content Ideas To Boost Your Engagement and SEO Efforts

Maintaining your blog regularly can be a grind, especially when it comes to finding topics. You can use social to ‘listen in’ on your competitors’ social media profiles, and see what their audience is reacting to. Then it’s just a matter of doing the same better and more often.

17. Go Viral and Get a Ton of Leads

When you do the above just right, you can create a piece of viral content that will be picked up and republished by hundreds of social media accounts, and even some major publishers. This can translate into a ton of leads, increased traffic to your website, and a significant boost in brand awareness.

Go Viral and Get a Ton of Leads
Example: This simple coffee-brewing guide from Chemex got shared thousands of times.

18. Manage Your Reputation

Whether you’re present or not, people might be talking about your brand on social media networks. Stay ahead of them by using social listening tools and responding to comments and rants in real time.

19. Communicate Fast In a Crisis

Your blunder probably won’t be as big as Pepsi’s, but this is still an example you can learn from. If you’re late shipping products to a number of customers, reach out to them over social – it’s faster and cheaper, and people will appreciate your transparency.

Communicate Fast In a Crisis

20. Create Laser-Focused Ads

Most social media platforms allow you to really home in your ads. You can target demographics, groups, interests, and even people who are following your competitors. With social, every dollar spent on ads counts.

21. Boost Your Conversion Rates

Social can give a much-needed boost to your sales team. A study from HubSpot found that social media leads have a 13% higher conversion rate. Ignoring all else, this should be one social media business benefit that clinches it for you.

22. Encourage Employee Advocacy

Your employees probably do what they can when it comes to promoting your business. Give them another weapon for their arsenal – encourage social media employee advocacy and make it so fun that they want to participate!

23. Solicit User-Generated Content

Ask your current customer to share their stories about your brand. You can then easily convert those into long-form posts, such as case studies and interviews.

24. Keep Tabs On Your Competitors

Whatever your industry, it’s imperative that you know what your competition is doing so you can adjust when possible. Maybe they are ramping up their content production, in which case, you need to do the same. What if they are a social media sale? You need to be aware so you can see if there’s something you can do to counteract that.

25. Increase Brand Loyalty With Giveaways and Contests

Give your followers a treat every now and then by organizing contests and giveaways through your social media posts. They make you look extremely generous, and you phrase them just right, they can also be a source of hundreds of shares and likes. Additionally, they will keep your followers coming back in the hope of grabbing extra freebies.

Increase Brand Loyalty With Giveaways and Contests
Example: MujiPen got thousands of shares with their contest. What’s better, their community engaged so hard they go almost as many entries!

Do All of This – and More – at a Fraction of the Cost

Traditional advertising entry points are typically out of reach for most small businesses. This isn’t true for advertising over social – for example, just $3 will get you in front of 1,000 people you want to reach on Facebook. Factor in the cost-cutting when it comes to engagement, loyalty, brand-building, and CS and the saving just pile up.

Now that you understand the many advantages of social media for small business, are you excited to up your game with a powerful 2019 Social Media Marketing Strategy?

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