Are you investing in social media as part of your business’s marketing strategy? If you’re not, or if you haven’t been making it a top priority, there’s a good chance you’re missing out on some great perks. 

Why is social media so important? Listed below are some of the top ways it benefits your business.

Expand Your Reach

There are billions of people (over 3.8 billion, to be specific) who use social media every day, and even more people have been spending time online since the COVID-19 pandemic started last year. 

When you invest in social media, it’s easier for you to reach your customers where they are (on the internet) and reach them instantly. Social media also gives you a chance to build brand recognition and get your business’s name out there. 

Remember, it takes 5-7 impressions before someone can recognize your brand. The more they see your posts and advertisements online, the sooner they’ll remember your business and think of you when they need products or services like the ones you offer.  

Diversify Your Strategy

Because of COVID-19, some traditional marketing methods aren’t possible or practical. 

Most businesses have shifted to place a greater emphasis on online marketing since their target audiences are staying home and spending more time online. There’s no use in spending a ton of money on a billboard, for example, if people aren’t going out and driving on the highway to see it.

Social media marketing allows you to diversify your approach and promote your business in different ways. This, in turn, helps you to reach more people and ensure your company continues to grow.   

Save on Marketing Expenses

With social media marketing, you’re able to advertise to a large number of users without spending a ton of money. 

Social media is a cost-effective option for businesses that are short on cash. It’s free to set up a profile on platforms like Facebook, Instagram, and TikTok. It’s also free to publish and share content with your followers. 

As for advertising, most paid promotions are relatively inexpensive, especially compared to traditional marketing costs. This helps you to trim your marketing budget without sacrificing exposure, and it also allows you to see a return on your investment sooner.

Improve Search Engine Ranking

Did you know that social media marketing is good for your search engine ranking? 

The size of your social media following doesn’t directly influence your ranking on search engine results pages. However, there is a correlation between social media presence and search engine ranking. 

When you use social media regularly, you create more opportunities for people to link back to your website content. You also have more chances to build an audience and promote your products and services. 

All of this drives traffic to your website, which boosts your search engine ranking.

Establish and Build Credibility

If you’re looking to establish credibility and help your audience see you as an authority figure in your industry, social media is an important factor. 

Social media is a great place where you can share information, answer questions, and educate your audience on what you have to offer. You can also provide links back to your blog, which makes it easier for you to provide long-form answers and more thorough education than what you can deliver in an Instagram post or Twitter thread. 

All of this gives you a chance to show off your knowledge. It also helps your audience to view you as a trustworthy source.

Learn from Your Audience

Social media doesn’t just allow you to share content with your audience. It also creates opportunities for you to engage with and learn from your followers. 

For example, you can post polls online to find out what kinds of posts your audience wants to see in the future. You can also ask if people have questions about your products or services. 

This last point is especially helpful. When you post calls for questions, this gives you a chance to refine your marketing approach and ensure you’re sharing relevant details about your business and what you have to offer. 

The more specific you are in the information you share, the more likely people are to understand your business and buy what you’re selling.

Monitor Your Competitors

In addition to learning about your audience, social media also gives you a chance to learn about your competition. When you create a presence on popular platforms, you can follow your competitors and keep an eye on the kinds of posts they’re creating and the ways they’re marketing their business. 

The goal here isn’t to copy them, of course. However, checking out what they’re doing can inspire you when you’re coming up with ideas for your own marketing campaigns. 

Monitoring your competition also helps you to identify gaps in their marketing plan. You can then fill those gaps when you publish your promotional posts and advertisements.  

Increase Conversions

All of these different advantages lead to an increase in the thing every business owner wants more of: Conversions. 

It’s not enough just to have more people visiting your website. You also want them to make purchases, right? 

A strong social media presence will help people to develop trust in your brand and become curious about your products and services. This, in turn, will lead to them buying what you’re selling so they can check it out for themselves.

You can see an especially significant increase in conversions when you take the time to build relationships with your audience on social media. 

According to 51 percent of marketers, strong relationships have led to boosts in sales. Research also shows that, compared to outbound marketing, social media marketing has a 100 percent higher lead-to-close rate.

Start Investing in Social Media Today

As you can see, there are lots of ways that social media can benefit your business, from boosting search engine rankings and building credibility to learning about your audience and increasing conversions. 

If you haven’t been investing in a social media marketing strategy, now is the perfect time to start.

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