The Importance of Social Media for Business

importance of social media in business

It is no secret that use of social media has become an integral part of our lives. Importance of social media in business has increased tremendously.  Just as we are conscious of our online presence and the image we build for ourselves, the same plays an equally important role in marketing our business. Importance of social media in business is much higher than we can imagine. And with consumers becoming increasingly social media savvy, and turning to the digital medium as an influencer, social media has since redefined the meaning of the word ‘brand’. The role of social media has changed from a communication platform to an important business platform. Every business today makes extensive use of social media for business and brand awareness.

A brand isn’t simply what you tell the consumer it is. That was the old days, the pre social media days, when PR and Advertising reigned supreme. Today your brand is also about what the consumers tell each other it is. As the importance of social media in businesses increases, below are some useful guidelines to help you address the role of social media in business development. These tips will also help you understand use of social media in business for better productivity.

Target the right audience with the right type of content

Different platforms have different benefits and nuances. Some examples below:

  • Facebook – As your brand’s front facing profile, this is the overall social media yardstick for your brand.
  • Twitter – For more one-to-one friendly and elicits conversations, Twitter works best for your brand.
  • Instagram – As a visually appealing platform, Instagram gives your audience a glimpse of the version of you, that you want your audience to see.
  • LinkedIn – A highly professional platform, LinkedIn is ideal for displaying subject matter expertise and interacting with industry leaders.

Role of social media in business is increasing day by day and each of the above mentioned platform is extremely important for the growth of business.

Get to know your consumer

  • Social media helps you understand your customer better by providing you insights about their online behaviour.
  • It helps you track conversations about and around your brand industry
  • People expect quick response times and don’t necessarily need to speak to a person anymore. Such problems can often be dealt with online, with a chat option or other impersonal means of communication.
  • Companies engaging in social customer service see bigger financial gains over time, as they are able to tap into online customers as well.

Edge over competition

  • Social media can be used to drive business results through lead generation, creating brand awareness, boosting consumer reach and increasing sales.
  • Since your competitors are on the same platforms as you, you can use social media to see the latest happenings and take action where necessary to gain an edge over them.
  • It empowers you to make more informed, strategic decisions and do something breaks through the clutter

The Need for Speed

  • You want that your stakeholders should receive messages in the shortest amount of time. Social media makes that possible, at the click of a button.
  • Platforms now allow you to target your audience based on their location, so you reach out directly to the relevant audience.
  • You can now customise your content for different audiences and even give special discounts and offers for those

Through the reach of social media via the internet, with the rise of hashtags and the democracy of distribution, it now means every voice can be heard in a public forum. It is now more important than ever to ensure that the image people have is the one you want to put out.

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