The internet has revolutionized the way people do business and as a result social media has been a major contributing factor to business success. With each passing day social media and its uses in our daily lives evolves. Continuous enhancements are being made to social networking platforms whose numbers of active users continues to grow; making them a necessary business tool.

With over 2 billion users on social media worldwide it only makes sense to use social media for marketing. But if the numbers alone don’t convince you, here are some of the best reasons why businesses need social media:

Cost Effectiveness

Social media marketing is more economical when it comes to marketing dollars. Traditional advertising requires larger budgets in order to cover the costs of things like print materials and telemarketing.  The costs associated to social media marketing are much less by comparison. It is a cost effective way to reach a large number of people while also strengthening your online presence.

Increased Exposure

Social media usage statics are staggering with numbers increasing daily.  This means increased exposure and brand awareness for companies using social media. Companies with a social media presence that engage and interact with their followers regularly are creating an advantage over their competitors who are not doing so.

Actively engaging on social media can act as “word of mouth” advertising which can in turn can increase web traffic and result in lead generation.

Networking

Social media has facilitated the ability to network and expands that opportunity globally. Networking can happen with anyone in the world at any given time for businesses of any size.

Online communities, discussion groups, forums and fan pages have created virtual networking spaces where companies can effectively communicate and build a network of customers.

Targeted Marketing

Social media has become a highly effective tool for corporations in identifying and reaching their target markets.  Social media platforms such as Facebook have allowed for the customization of ads by being able to target specific users by factors like location, education, industry and even purchase history.  It is this type of information tracking that can convert leads into sales.

Get Noticed

Social media helps companies or brands leverage their presence and even generate media coverage. Sharing events you are taking part in or sponsoring; or articles that have been written about your business or service helps you get noticed.

There are a multitude of reasons and these are just a few why businesses should be using social media.  If you’re thinking about a social media marketing strategy or want to build on an existing strategy contact us here at Social Know How and our team of experts can assist.