The Impact of Social Media on Businesses
What comes to your mind when you think about Social media? Facebook? Twitter? Instagram? Of course, these platforms. You have probably done everything to be looking cool and attractive over social media and to be in touch with friends and family. But, have you ever wondered about the impact of social media on Businesses? How do they manage to communicate with their customers/audiences through social media? It certainly has a huge impact and that's what we are here to look at.
THE VALUEWhat if I say 73% of the marketers say that social media is very effective for their business and 54% customers use social media to research products? Well, that’s very very true and it is backed by some study. All being said, this doesn’t mean that social media impacts your business in a day or in a night! It takes time, effort and lot of patience to be able to see the results it generates. It might take years!
Table of contents:
- Increases collaboration
- Personal branding
Social media has had one true impact on business and that is - Generate Loyalty.
Businesses can come up with their pages on different social media platforms and make customers audiences build and generate loyalty. These are one of the best ways to let a brand know how you use the product or service after you have purchased it. Brands can then re-share/repost it to generate and showcase loyalty.
People these days look at one thing the foremost - Credibility. If someone’s searching for something over the internet, say for example, food, clothing etc. the first place they’ll look up to is their social media handles. How active are they? What promotions are they running (if they are running any)? All of this gives credibility to a brand and some authenticity in the minds of a consumer. This makes social media a really important tool for businesses.
3. INCREASES COLLABORATION
The generation today is thriving on one form of social media i.e. Influencers or influencer marketing. Businesses are relying on growth by collaborating with brands and other businesses to promote their product. 65% of marketers believe that the influencer marketing industry is going to grow in the coming years.If not more social media, collaboration takes much more effort and time to bring forth the results as you may need to send out emails and stuff which sometimes do get ignored.
Startups can really leverage this to generate and increase traffic on their social media channels or website for that matter.
The biggest form of branding that existed and even still is, is word of mouth. None beats the kind of brand promotion someone’s words do. How many times have you bought something which has been referred to you by your best friend and labeled as “excellent”? A lot of times! You can’t even remember. You are prone to buying something which has been given a real word of mouth at some point in time in your lives. That is the kind of power referrals do and that makes it a super super advantage for businesses!
5. PERSONAL BRANDING
Another very important aspect in the field of marketing is personal branding. Irrespective of how big or small or B2B or B2C you are, your personal branding makes you stand out in the market. There are lots and lots of experts who build their personal brand using social media. One such example is NEIL PATEL.Neil presents you with simple, easy-to-understand educational videos on Digital Marketing and related stuff which helps him grow his personal brand. Some of the things to keep in mind are - consistency and context. If you check out Neil’s Twitter, you see that most of his tweets are quotes which shows that he is a regular on a context with some in-betweens of other links to his videos and blogs.
With all the above examples, it might be more than evident that as a business, you can leverage the power of social media to great heights and make a gradual impact on it. If you’re missing out on these you’re surely missing out on making your brand presence felt in the market and in-turn missing out on a lot of REVENUE!We as mobile app development company not only build software solutions for you but can also help in making a marketing strategy for you.