Role of Social Media in Marketing & Business

Social media is a rising phenomenon that currently has billions of users connected around the world. In the business world, virtually all businesses use social media as part of their marketing efforts on a regular basis. Brandwatch, for instance, reports that at least 81% of all small and medium businesses use some kind of social platform. It’s not hard to see why so many companies have joined in on the social media bandwagon.

Social media presents a myriad of marketing opportunities in ways that traditional marketing could never achieve. For many companies, social media channels are places for their companies, whether established or novice, to further market their products and services. Through the use of low-cost tools that blend technology and social connection, most social platforms give business owners the ability to spread the word about their brands and what it offers to their audience.

This engagement allows everyone to share their opinions about your business, which can help you reshape your current marketing strategy. You can even gain ideas for product deals, content, and other types of marketing. Because of this, businesses that do not use social media or learn its key features run the risk of losing out on a number of marketing opportunities.

How does social media help your brand?

There are various ways that social media helps boost your brand’s marketing efforts. Knowing about each feature can help you formulate effective marketing strategies that address your customer’s needs. 

• Improves responsiveness. Social media is one of the best ways to facilitate the process of giving and obtaining feedback in a timely manner. In just a few words, your customers can let you know what problems or concerns they have with a product or service your company offers. Likewise, businesses can view all concerns and reassure their customers at the earliest convenience.

• Allows competition. Because most businesses are on social media, having a social media account for your business allows you to keep up with your competitors. You can capitalize on the benefits that social media provides, such as boosting online sales and website traffic. This allows for competition between your business and its competitors.

• Enhance brand awareness. Social media can also be used to boost brand awareness and reach towards potential customers that may be interested in what your company offers. Through hashtags, geotagging, and other methods, you can find potential customers faster than in traditional marketing channels.

• Can be cost-effective. Most social media platforms offer you an extensive amount of tools and methods to create effective campaigns. These campaigns help boost your brand’s online presence. The best part? Most of these tools do not require a large spending budget, which means small businesses and larger brands can compete with each other. 

What is the best way to market your brand?

Social media marketing can offer a number of advantages for your business. However, if you don’t know how to effectively market your brand through these platforms, your social campaigns can end up falling flat. To market your brand on social media, be sure to follow the next key tips consistently:

• When it comes to social media, depending on it as your sole form of marketing is no-go. You must make the most of your social media campaigns by blending it with other forms of marketing. Social media can create brand awareness but it should not be the only venue to offer your services, especially if you’re just starting out.

• Be transparent with your brand’s personality. Many customers prefer interacting with a company that’s honest and upfront. Determine and use what works for your brand so that it doesn’t lead to confusion.

• Focus on consistency. While there isn’t a specific guide or rule book about social media, it is important to adhere to one single rule: consistency. Posting regularly on social media is imperative to maintaining a successful presence on a social platform. If you aren’t planning on being consistent, we recommend giving other forms of marketing a shot until you can make time for social media marketing.

The role of social media in marketing is entirely dependent on communication. Use social media as a tool to craft your brand personality and develop engaging relationships with your customers. Remember that when you cultivate customer relationships, you further ensure customer loyalty to your brand. Because of the effectiveness of social media, traditional marketing methods have largely been overtaken. Still, you can, and should, blend in all forms of marketing to reach your target audience. 

Overall, social media is the secret ingredient to many business’s marketing efforts. It gives a business a way to communicate with the outside world and reach potential customers. As Laura Lake from The Balance Small Business writes, “social media gives marketers a voice and a way to communicate with peers, customers, and potential consumers.  It personalizes the “brand” and helps you to spread your message in a relaxed and conversational way.” As such, social media marketing must be a part of your marketing strategy so that you can keep up with your competition and engage all customers with your brand.