Why Social Media Is Important in 2023
Social media is one of those channels.
Why is social media important for business, though? Social media is important because it offers companies like yours a way to connect one-on-one with its target audience and nurture those audience members into customers.
Keep reading to learn more about why social media is important and the importance of social media marketing in a brand’s ability to generate brand awareness and online growth.
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Why is social media important?
Social media is important because it allows you to reach, nurture, and engage with your target audience — no matter their location. When a business can use social media to connect with its audience, it can use social media to generate brand awareness, leads, sales, and revenue.
4 reasons why social media is important
Social media is important for businesses like yours for a few reasons, including these four:
1. Get more qualified leads
In many marketing campaigns, most of the target recipients are possibilities at best. They may or may not be interested in your offering now, and some may never be interested. You can’t be sure they’ll take advantage of the offer or even bother to review it.
This is not the case with most of your social media followers, which is a big reason why social media is important for business.
By marketing to users who are already fans of your company, you know that you are reaching a qualified demographic. The fact that they follow you on Facebook, Twitter, or another social platform sites means that they already want to know more.
This means they’ll respond more favorably to your posts than if they had no prior relationship with you. It also increases the likelihood that they’ll read your posts or click your links, which makes them more likely to take the desired action.
2. Build a community
In most traditional (and even some online) marketing initiatives, your company is solely responsible for spreading your message. Your flyers may be passed around, and someone might occasionally forward an email newsletter, but these things don’t happen often enough to have an impact on your campaigns. With social media marketing, sharing is encouraged, which can have a huge impact on your business.
Social media is important because it makes it easy for your followers to share your promotions and content. And even if they don’t directly share your posts, they can speak positively about you and direct traffic to your social accounts or website. This is extremely valuable, as most consumers tend to trust recommendations from friends and family much more than from companies themselves.
In order to promote this kind of discussion, you can use social media to build a community around your business. Encourage customers to leave reviews (both positive and negative), interact with your posts, and have conversations with other customers. You can also use social media listening tools to track mentions about your brand around social media and respond to them to continuously interact with your audience.
By facilitating discussion, you can build positive relationships with both current and potential customers.
3. Grow your brand’s reputation
Traditional marketing helps companies promote their products and services without having to reveal their flaws. Social media doesn’t offer this protection, because consumers are all too happy to post their complaints about product performance, poor customer service, and other issues that can hurt a business.
This may seem like a disadvantage, but social media also provides your business the opportunity to respond to negative reviews and overcome negative publicity. In order to do this, you’ll need a mix of proactive outreach, constant monitoring, and effective crisis management.
A good content plan with frequent posts and updates takes care of the first part. The second part can be handled by one or more people who either check feeds for trends in chatter or respond to questions and comments. The third is a bit more delicate, but should involve responding to reviews professionally instead of deleting them, and apologizing for any mistakes. These are the kinds of activities that help your business establish a reliable, trustworthy brand.
They can also cushion the blow when, despite your best efforts, something goes wrong. If an employee posts unflattering stories, a product is recalled, or something negative appears in the news in relation to your business, social media can be one of your best PR tools. By addressing any and all publicity on social media, you can show that your business is dedicated to righting wrongs and addressing customer concerns.
4. Use advanced targeting options easily
If these benefits seem nice enough, but you’re wondering if social media marketing is cost-effective, the answer is yes. Think about how much information social platforms have on their users. They know each person’s age, location, gender, interests, and friends—among many other details. Considering that you can target your ads to users based specifically on those things, social media marketing can be extremely effective.
With platforms like Facebook and Twitter, you can choose to only show your ads to the most qualified demographics. This means that you only pay for ads that are extremely targeted, and don’t have to waste money on having your ads displayed to users who are likely not interested at all. This is an extremely cost-effective method, and another reason that demonstrates the importance of social media.
As an example, take a pediatric dentist practice that wants to use dental social media marketing to attract new patients. Since the practice specializes in pediatric dental care, they would use target parents in the local area. They may even add other filters, like income, to enhance their targeting.
These targeting options all help the practice reach the people that matter the most to their goals.
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Maximize social media’s impact on your business
So if you’re wondering why is social media marketing so popular among marketers—that’s the answer. Although the ability to build a community and manage your reputation is great, it all comes down to marketing goals. And for most businesses, the goal is more customers and increased revenue.
Social media marketing is still relatively new, so it’s likely that the benefits and strategies associated with it will change over the next few years. But right now, it is one of the most effective ways to connect with qualified leads and build customer relationships.
If you want to start attracting new customers with social media, feel free to contact us. Our dedicated social team is more than happy to help you get started with the social platforms that will help you reach your business’s goals.