Social Media provides a great way for Small Businesses to provide all the tools a large corporation can provide in a much more cost-effective manner.
1. Low-Cost Advertising & Marketing
It is free to create Social Media accounts and while you may have to hire someone to handle the marketing aspect, it is a much lower expense than traditional marketing and hiring a full team of marketers. Social Media Ads are also low-cost with high returns. (For example, at TWP Marketing the average cost per impression for our clients is UNDER 1 cent a month and our average cost-per-click is around 25 cents.)
2. Increases Business Awareness & Attract New Customers
In a recent study, 9 out of 10 marketers said that Social Media has increased the exposure of their businesses. Social Media helps build your online awareness to a whole new audience of potential customers. This allows you to grow your customer base.
Social Media updates provide search engine optimization (SEO), they allow your followers to spread the word about your business for you and based on the high number of Social Media users a larger audience is available that can provide increased chance of gaining new customers.
3. Provides Authenticity
Research has shown consumers search for business information on Social Media, and that Social Media activity provides proof of authenticity. A well-run, updated, informative and active account on Social Media makes a difference and matters to consumers.
4. Offers Platform for Customer Engagement
“Consumers like when brands listen to them. Part of listening means interacting and exhibiting behaviors that facilitate and encourage connections. More than half (55%) of respondents reported that ‘liking’ or responding to a consumer was one such behavior that helps brands connect with consumers.”
5. Provides Effective and Inexpensive Customer Service
Solving an issue on social media is 83% cheaper than resolving it through a call center and 54% of customers prefer to use Social Media for customer service issues rather than the phone or email. More importantly, answering a Social Media complaint can increase customer advocacy by as much as 25%.
6. Provides Useful Metrics
Insights and analytics provided by the Social Media platforms provides a great way to measure if your efforts are working. Using metrics to track engagement, reach, website traffic from Social site can all help determine whether your strategies are working or if you need to make adjustments to achieve better results.
SOURCES: Convince and Convert, Go Globe, Conversocial
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