Since Social Media has played a continuous role in how people interact with each other. From a business standpoint, it contributes to how companies interact with potential customers as well. As this has become a powerful method for organisations to reach a target market, many social platforms have integrated methods help businesses reach their audiences (e.g. Facebook Ads). 97% of the global share of companies use social media marketing (according to Statista), this is a humungous amount however it needs to be done correctly.
Many believe that social media marketing is just as valuable as televised advertisements without the hefty costs. It's all about reaching a large number of people in a cost-efficient manner. Here is why Social Media is really important for business practises.
It's all about trust
We feel that trust for a brand is one of the biggest assets to a business. Regardless of how technology evolves over the years, consumers will often side with a brand they trust. Part of the importance of social media marketing centres around cultivating that trust on a more personal level. It's a platform that allows businesses to directly interact with consumers. This interaction contributes to building a strong on-line reputation
Approximately three-quarters of shoppers today will research a company online before making a purchase. Services like the traditional phone book have been scrapped because it just doesn't tell them anything about the company. Online reputation is where many companies have the most impact for customers. Social engagement, customer reviews and other aspects contribute to someone's decision to make that initial purchase.
One of the key components that drive companies to use social media marketing is the overall cost for upkeep. As most profiles on these sites are free, engaging potential consumers has no expense other than time and the quality of content. It takes less than a minute to respond to an individual or post a link to new content on your website but it leaves a lasting effect on the people who read it. By showing care in your Social Status, you are giving customers a reason to believe you care about your brand.
Currently, one in ten online purchases around the world originates from social media channels. We believe this number will grow in the future. It's estimated that ecommerce will surpass the £1 trillion mark by 2020. This means that billions are spent by social media consumers.
Interacting with people who comment or otherwise follow the business can build strong ties. It can make the situation less forced and more organic. In other words, people are more likely to trust a company that offers insights and communicates with them.
See how we can help you with your Marketing Communication Strategy. We help brands and businesses meet the unspoken needs of the user to drive value through engagement and participation.
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