The Importance of Social Media in Business
Why social media is important for Business?
Social media is one of the most important prospects of digital marketing, providing you a cost-effective (sometimes free) means to reach millions of targeted customers worldwide. No matter what you sell and who to sell it, using social media as a marketing tool could help you to grow your business.
Whatever, your market or audience, a substantial portion of your customers and leads are found on social media. Having the access to all those customers helps you to boost the traffic, which is particularly important for a new brand.
Now the Social media is the number one driver of referral traffic to websites, and a valuable tool which gives you the ability to target the posts to the relevant potential customers. Implementing a social media strategy will greatly increase your brand recognizable, since you will be engaging with broader audience of the consumers.
With one single click, your post is shown to the multitude of targeted potential customers.
Top Six Social Media Platforms
As a starting point, brands should look to register their company with each major social media network:
Initially, it is vital to try to gain as much of a following as possible via word of mouth and invitations to share or like your page. Each post that is shared will be introduced to new network of individuals, which can lead them to become the potential customers.
Why Customer Loyalty Matters?
With the old notion of “word of mouth” have moved online to social media, you have a huge platform at your disposal where you can leverage to help increase your customer base.
Customer and prospects rely on reviews and interactions of their peers to determine the quality of the brand. If you want your social media marketing be effective, you need active, engaged, and loyal followers.
Resistance to competition
Rival brands working in same space as you have far less chance of winning over one of your loyal customers than they would a new customer with no brand preference.
An engaged, active following helps you to reinforce as a trusted brand, giving the appearance that your products are in demand.
Loyal customers spread the word about your business
As they are essentially ambassadors of your brand, your loyal customers will be able to help to raise awareness, acting as walking billboards for your brand.
Loyal customers are those who continue to order your brand, keeping your cash flow healthy and allowing to keep you developing. It is easier to get a repeat order from an existing customer than it is to get a new customer.
Less price sensitivity
If your price have to raise for any reason, loyal customers are likely to overlook this and continue to order from your brand.
Edited: Sourced By @Howthorninc