As social media has evolved, its dominance in decision-making processes is clear. Figures show that almost half the world’s population uses social media. Numerically, that represents 3 billion people around the world. Put another way, if your business is not on social media, your sales will be well below what they could be.
Internet users are social media networkers
According to the most recent data from Global Web Index, being an internet user means being a social networker. On average, individuals across the globe who have internet access are spending an average of 2 hours and 15 minutes per day on social networks and messaging, and that figure is growing.
Over half of digital consumers are following brands, and social networks are the top product research channels. Adding impact to these numbers is that 90 percent of all marketers say social media marketing has increased business exposure and increased profits.
How social media can drive your bottom line
Your competition is almost certainly already on social media. Thus, failure to compete on that media can put you behind. While a strong social media presence takes a lot of effort, here are some thoughts to consider:
- The ROI from social media is considerable compared to traditional advertisements or billboards. Plus, media can drive targeted traffic to your business.
- Using social media can help you introduce the people who make your product or service possible. It can also show potential and existing customers the experiences that your business or service has made possible. Using both of these approaches together can go a long way towards deepening loyalty to your brand.
- Getting good publicity from the press and industry organizations tends to increase when your social media presence is strong. Reporters and publicists are always looking for interesting stories to help them gain a competitive edge; social media is one way they discover the leads they want to pursue.
- Social media can build avenues of contact to key decision makers through platforms such as Linked In.
- Using appropriate platforms can help you create a niche in the market that makes you unique by offering information, online seminars or videos through YouTube.
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