10 benefits of social media for business

Consider that there are now billions of people using social networks. And these people are using social media to engage with businesses.

Take a look a some benefits of social media for your business:

Increase your business brand awareness

One third of South Africans use Facebook. It is a natural place to reach new and highly targeted potential customers. Social media allows your customers to connect and interact with your business on a more personal level.

Help customers get to know your business and products

Studies have shown that more than half of customers do not trust a business until they see "proof" that the business exists and is keeping its promises.

Social media gives your business a means to show your customers the people who make up your company, what other people have to say about your products or services and benefits of using your product.

Become the go-to-source of information

Through social media, you can establish your business as a thought leader by providing relevant information related to your niche.

Stay top of mind of your customers

Most social media users log into their accounts at least once per day and many are checking their social networks multiple times per day.

You can use social media to connect with your customers providing them with entertaining and informative posts that keeps you top of mind so you’re their first stop when they’re ready to make a purchase.

Generate leads from prospective customers

Social media offers potential customers a way to express interest in your business and your products without the need to commit immediately. You can run competitions or polls to collect leads that you can follow up on.

Generate sales from interested followers

Social media offers you the opportunity to promote your products or services. You can use your business page to promote your products in a personal and social way to your followers, giving you more chances to gain a sale.

Source helpful information on your customers

You can use social media to access a huge amount of data about your customers in real time. With analytics tools, you can see who your customers are, their interests, location, interaction with your social media activities, etc. and use that information to make smarter business decisions.

You can also use social media to ask your customers what they would like or need for new products and get opinions on your existing products.

Keep a handle on your reputation

Your consumers are talking about your business on social media. Participate and guide the conversation by responding to complaints timeously before they damage your reputation and thanking supportive customers.

Get targeted advertising

Social networks such as Facebook offer powerful targeting options so you can reach the right audience and make the most of your advertising budget.

Targeting options include demographics, location, behaviour and interests. This allows you to craft specific messages to different groups of potential customers.

Make use of the benefits of retargeting

Nearly 70 percent of online shopping carts are abandoned. These are prime potential customers that you can re-target using tracking tools through social media and help them complete the shopping process.

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