Social media isn’t going anywhere, and neither is its impact on business and the choices people make. If anything, it is going to get stronger, faster, and more competitive. Human beings are social by nature, and social media feeds into that.
People in general like to interact and be included. Social media allows that to happen on a massive level. We get a voice with people and businesses where it was not possible before. What does this mean for business and branding? It means you better jump on the train before you are left behind.
Social Media Can Drive Profit
Why on earth would your business take the time to post on social media, let alone work to get shares or likes? It seems like a waste trying to play the social media “game” when you could be working on boosting sales.
Here is the thing. Customers are the ones that spend the money, and they get to decide where they spend it. It turns out that one-tenth of purchases around the world originate from social media. Yeah, that’s a lot.
Used correctly, social media has much potential to drive sales in many ways, from ads to driving potentially convertible traffic to your online store.
Online Reputations Count
Social Media plays a mega role in the online reputation of your business. Studies show potentially three-fourths of shoppers will do online research before they make a purchase. This could include a lot of things, from reviews on sites created specifically for that, to reviews and mentions on social media, to actually reading posts and comments and noting how you respond to each.
If there is no social media account, that doesn’t help. Those looking will likely choose a company they can view through the online lens before one that they cannot.
Brand Recognition and Loyalty Happens on Social Media
More and more the virtual world is bleeding into the real world, or vice versa. Many of the activities that create brand recognition and loyalty now occur online even more than off, and in a much more public manner. Word-of-mouth used to be the only way that customers, satisfied or not, could tell their story.
Face to face, letter, and telephone were the only ways they could express their delight or unhappiness with a company. Now, a Tweet, status update, or post can let hundreds or even thousands of potential customers know at once if your brand is one to be loved, or not so much.
Every time your business is mentioned on social media, your brand is put out there for all to see. How you respond to your customers will be how others view your brand.
Social media is becoming a growing part of Search Engine Optimization (SEO) that cannot be ignored. If you do not have social media, the search engines will begin to recognize you less and less, which means less traffic. Less traffic means less sales. Enough said?