Social media usage is on the rise and is integrating more seamlessly into our daily lives. According to Hootsuite, 3.48 billion people now use social media, or 45 percent of the total world population. This is an increase of 9 percent from 2018.
These numbers are significant. But what do they mean for your business? In the same report from Hootsuite, it states that 90% of brands in 2019 have embraced social media and 77% percent expect their social media presence to grow over time.
But for growth, you need a starting point, right? Below are four benefits of social media for your brand.
1. Opportunity to branch out and reach new potential consumers
According to Nimble, the average sales transaction happens after five touchpoints. By engaging with potential new customers on social media, you are able to find out their interests and needs. And with this in mind, even sending out targeted efforts to them, whether it is a direct message or advertisement grouping similar companies. Doing so will contribute to your total touchpoints.
And many of these consumers are using social media while at the workplace. According to The Olson Group, social media is another route for workers to find information that is relevant to their job or discover new ideas they can apply while at their job.
2. Ability to receive open and honest feedback in real time
With the ability for users to comment on media items and statuses, platforms like Twitter, Facebook, LinkedIn, and even Instagram allow for open and honest feedback in real time. Social media in this sense can serve as an “outlet” for quick questions about a product update, or concerns with a shipment. Social media also allows for you to listen in on what people think. This goes hand in hand with the next bullet on competitors, but can also give you an overarching look into what is happening in your brand’s specific industry or markets.
3. An inside look at your competition’s digital efforts
Social media is the perfect window to see what your competition is up to digitally. If there’s a chance an item of theirs goes viral or is receiving great engagement, it is an opportunity for you to take it back to your team and discuss future efforts. It allows for you to see what is working and gives you a benchmark for your success.
4. Potential for maximizing storytelling and creating a personality
Because there are 3.48 billion people using social media, it is important to remain strategic and differentiate your brand from competition. Social media allows for brands to paint a picture of who your company is – from its mission, to its core values, to its team members and services. And by creating a personality, you are able to connect with users on a whole other level. For example, try sharing internal news about a local foodrive your company participated in. And with sharing this news, whether it’s through a photo or video, or other media item, it shows that your company is willing to give back to the community, and make an impact outside of sales.