• Monkey Media Marketing

10 Key Benefits of Social Media Marketing for Your Business:

Social media has become the most powerful advertising medium according to many respected sources - and it’s not just about brand promotion and reputation management anymore. Companies using social media are seeing increased ROI that is increasing annually.

A recent study done by Gartner, an online research firm, supported a measurable link between social media marketing efforts and revenue growth - with revenue from social media marketing estimated to reach $14.9 billion by the end of 2012. By the year 2015, projected growth from social media marketing is estimated to be around $29.1 billion!

Businesses big and small are realizing the huge benefits of social media marketing and its increasing importance in the race to stay relevant and attract new customers. Long gone are the days when your secretary was the first point of contact between the outside and your company – that role is being replaced by websites and social media profiles.

  • 37% of internet users follow their favorite brands on social media

  • 30% of internet users use social networks to research products

With people turning to their mobile devices and social media in the buying journey there are many reasons why your business should be active on social media.

Here are 10 key benefits of social media for business:

1. Increased Exposure/Brand Awareness:Social media will expose your company or service to new eyes. With one click your message is shown to multitude of people. Social media can help you find customers already talking about your business- information you can leverage to reach even more people.2. Learn About Your Audience/Target Consumer:

Social media gives you insights into what your audience is into (besides you, of course). Getting to know your audience can help you discover creative ways to reach them via advertising or content. Catering and targeting to this degree will lead to increased conversions.

3. Customer Service:

Sometimes a customer won’t reach out to you if they have a problem, but will go ahead and post a complaint online. Many consumers now using social media as a point of contact with a brand, and expect a response The Social Habit reports that 42% customers who reach out to brands online expect a response within the hour.

4. Feedback:

Social media allows for instant feedback from your consumers good or bad. The time between knowing if a product or a campaign is a success is shorter. This means you can respond and resolve mishaps in a faster manner.

5. New Opportunities:

Social media can offer opportunities you may miss out on by not having a social presence. Negative comments and experiences can be addressed and adjusted – keeping customers happy and showing potential customers that you care (giving you a little more to love over the competition). In my own experience, clients I’ve worked with have been able to secure inclusions in digital publications – expanding reach and establishing authority – all from messages received on their social media profiles.

9. Brand Equity:

Maybe this is something you don’t think about right away, but your social media presence does weigh in the value of your brand. Not only does this apply to how consumers perceive your brand, but a study conducted by INC revealed that “the average offer received among all of the businesses we analyzed was 3.7 times pre-tax profit. However, when we isolate just those businesses with at least 10,000 connections, the offer multiple goes up to 4.67. If you have more than 100,000 people in your opt-in footprint, the multiple goes up to 4.87”. Seems that your social media network is your net worth (kind of).

10. Relevancy:

Part of staying in business is to remain relevant. What better way to remain relevant than to be in the thick of conversations your customers are having about their needs and wants? Social media gives your company or brand insight into how it can continue to evolve and deliver results for your bottom line and your consumers.

Social media can be time consuming, and at times frustrating – but it is increasingly becoming a MUST if you own a business as consumers turn to social media not only as a point of contact, but as a research tool. Remember that what you post online is a representation of your business, and with mere seconds to capture someone’s attention, you always want to put your best foot forward. Done right, your business can reap the benefit of social media marketing.

To learn more how we can help your business:





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