What is Social Media & How Can It Benefit You?

If the numbers in Thailand are anything to go by, businesses who are not engaged in social media are missing out on tremendous opportunities. The benefits are endless, but here are some of the major advantages to social media marketing for businesses:

• Affordability. First, most companies must watch their budget. Social media platforms at their most basic are free. And a savvy marketer can make the most of social media without having to resort to spending on promoted posts or ads (although these too are affordable alternatives to traditional advertising).
• Extensive reach. Social media platforms are by and large international. So now, a small clothing company in Thailand can sell their products to consumers in the US.
• Increased brand awareness. With that extensive reach, companies can introduce their brand to a wider audience. A little over 80% people surveyed claimed they found out about new brands on Instagram.
• Targeted reach. Just as your reach increases, you can also home in on specific demographics with social media by focusing on certain communities, smart use of hashtags, or paid ads.
• Stay in front of consumers. By posting regularly and interacting with other users, you ensure your brand’s spot in potential customers’ feeds. This keeps you on the top of their mind, which is important, especially if they are about to make a purchase.
• Increase web traffic. You could rely on searches to direct potential customers to your website. Or you can engage with your social media platform community and encourage them with interesting content and links to drive traffic to your site for a greater chance for sales.
• Generate leads. With every connection you with on your social media account that is one more potential customer or sale. If your posts or content is interesting, you could encourage users to sign up for newsletters or notifications who you may otherwise not be able to reach.
• Manage your reputation. Even companies without a social media account may have a social media presence. All it takes is one happy or, more likely, unhappy customer posting about you. With a social media strategy, you can respond to complements as well as address complaints. As this will be in a public platform, you can impress others with your professionalism and customer care in real time.
• Real-time analytics. Most social media platforms offer business analytical tools to measure the impact of posts, ads, and various campaigns. So, in practically real-time, you can see how others are responding to your strategy, and if necessary, you can alter your plans accordingly.
• BRING IN BUSINESS. Ultimately, your goal is most likely to generate more sales. If planned and executed properly, your social media strategy should grow your business with minimal cost.