Effects of Social Media Marketing on Business
Social media is an important communication tool that people use to connect to other people or organizations. People use social media to share their experiences, reviews, information, advice, warnings, tips or any kind of issues that are interesting to their friends. That information is a helpful source, which may influence consumers decision-making.
As a result, social media has emerged as one of the most significant tools of our times. With direct access to the consumer's interests and needs, social media marketing can greatly influence their purchasing behaviour.
SMM is a recent addition to the marketing jargon of the business world. Let's learn today some of the key consequences brought in by the advent of social media marketing.
1.Surge in Website Traffic
Social media is just the right medium to market your product to the consumers. Creating compelling content via blog posts and sending newsletters directly to the customer's inbox is a great way to increase hits on your website.
Promoting your product by targetted advertisement and geo-tagging also drives organic traffic to the website.Interactive posts like short quizzes and games are also a great means to engage with the customers as they feel more involved in the process.
A customer is more inclined to buy a product if they have previously heard of it. With nearly 3 billion people using social media all over the world, it has emerged as the #1 medium for brand promotion. Repetitive and relevant exposure increases viewership and likelihood of engagement with the brand. All we need to do is maintain continuous interaction with the right content for the audience.
Also, a successful SMM strategy results in an increased mention in industry-specific blogs, news sources and other online and offline publications.
3. Loyal Customers
When you market your product right on social media, your satisfied customers turn into the loyal ones.
Loyal customers, they don't just come back, they don't simply recommend you, they insist that their friends do business with you. - Chip Bell
Maintaining existing customers is much easier and more financially rewarding than looking for new ones. The immense power of social media platforms like Twitter, Facebook, Instagram, LinkedIn and many others can be leveraged to cultivate a healthy relationship with the potential customers. Once you have earned loyalty, rest is taken care of by the fans of your brand.
Quick resolution of queries and complaints on social media also goes a long way in gaining trust from the social birds. Engaging with numerous customers is too much of a work, and Rannkly makes it easy-breezy by providing awesome tools for automated responses and feedback funnelling.
4. Boost in Sales
As per a study, top-performing salespeople believe they receive better leads from social media marketing. Almost all (94%) of the top performers surveyed in the LinkedIn study called the marketing leads they receive either excellent or good.
Social Media Marketing is critical to lead-generation for any business irrespective of its scale. An effective marketing strategy assimilates social media marketing tools to enhance the brand's image in the online space. This multi-pronged approach assures long-term success of the business.
5. Cost Efficiency
Social Media brings the best ROI when it comes to smart marketing. A small investment in the right strategy could do wonders to a business. For example, there are review management tools like Rannkly available online which are providing the best bang for the buck.
Posting content is free across all the platforms. All we need is quality posts that strike a chord with the target audience and the success is guaranteed.
SMM helps a company get direct feedback from customers (and potential customers) while making the company seem more personable. The interactive parts of social media give customers the opportunity to ask questions or voice complaints and feel they are being heard. This aspect of SMM is called social customer relationship management (social CRM). (Source: whatis.techtarget.com)
Hence, it is important to design an effective marketing strategy through social media in a way that it attracts the users from different segments and sections of society.