Why is Social Media Important for Business? 4 Key Reasons

It isn’t enough to have a website for your business. Your digital personality extends to social media sites like Facebook and Twitter. If you haven’t already, it is time to start embracing the overwhelming trend that 88% of  consumers will go online and trust reviews or social media mentions just as much as a personal recommendation from a trusted friend.  Successful businesses need to know their audiences very well.

 

With social media, it is easier to access consumers

The benefit of social media is that knowing your audience is easier than ever. With access into Facebook and Twitter, you see immediately your target market up close and personal. You can respond quickly to problems.  Consumers are receptive to your messages in Facebook and Twitter. People view Twitter and Facebook as a network of friends, not marketing machines.  Not surprising, when you stay in front of your customers, they’re more likely to buy from you. Social media gives you the opportunity to constantly give your customers the incentive to buy. Try Tweeting or posting coupon specials or code, good only for those who are your Facebook fans or Twitter followers.

 

With social media, gain instant feedback from customers

Another benefit to social media is improved customer service. Because social media is a ‘real-time’ experience, you have instant access to the feedback of your customers. Negative comments about your company can be catastrophic.  After reading a negative online review,, 86% of consumers will reconsider a purchase, while positive reviews will encourage it.  Responding to consumers quickly is essential. This is invaluable in helping you maintain high customer satisfaction and retention.

 

Your competition is on social media. Know what your competition is doing.
Your competition uses social media. If used properly, they will take your customers over time. Social media marketing levels the playing field. Businesses with large advertising budgets truly have no advantage over a small business with a well-planned social media strategy. People expect businesses to have Facebook and Twitter accounts. They expect to be able to use them to get in touch with company representatives.  Social media is a must have for businesses.

 

Take care of customer issues quickly

So what exactly can a company do to stop bleeding revenue from negative reviews?  View the complaint, talk to the customers and try to fix the issue. The key to leveraging the value of social media is the ability to analyze and review Facebook posts or Tweets.  Not only the ability to analyze online comments but also that responses to consumers be done in a timely fashion.  This has been the challenge for many business owners. Do I hire an agency to manage my social marketing or hire a staff to do so?  Can I do it myself?  

 

There are tools available from different vendors who offer social media alerting services. These services can provide to you the analytics and tools needed to manage social media yourself. Check out www.onlinemediaalerts.com, www.hootsuite.com,  or www.cision.com .  Each company offers services with different budgets.

 

 

 

Source by Gregg

Why is Social Media Important for Business? 4 Key Reasons