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Importance of Social Media for your Business

November 6, 2021by ServoNG0

Importance of Social Media for your Business

Is social media important for my business? It is one question that many business owners ask, as they sometimes cannot be ‘bothered’ by the stress that comes with handling social media pages. But, would you not rather go through that ‘stress’ than be wallpaper in your industry?

We cannot stop emphasizing the importance of social media for businesses, and we will be highlighting some of its importance in this article. The use of social media can boost the ROI of your business to a figure that begins to seem like a trick to your mind.

Online Marketplace for Buyers and Sellers in Nigeria

Sadly, whenever we mention social media to some business owners, they wave it off as a platform for young people to socialize. But, social media goes beyond this notion. What many people do not realize is that social media is a large marketplace that connects people globally. So, understandably, you cannot compare it to a physical market. But, it brings in the needed traffic which any brand or business requires. So, why have you not hopped on this train yet?

Many people are always talking about business strategies, and we want to tell you that one efficient market strategy for any brand is social media.

When Jules newly started her fashion brand, many of her competitors did not rate her. They saw her as a young brat coming into their industry to show herself. Even when she tries to contribute during meetings, they usually shut her down. But, that did not deter Jules from staying focused on her plan.

One of her plans was to dominate the fashion industry in her region and become a household name. And, one of her strategies was to utilize social media. Soon, she began buzzing online, and her competitors still scorned, saying all she knew was pressing phone and social media. They were actively waiting for her downfall, but it never came.

Instead, Jules kept on climbing the ladder and achieving the dominance she desired. Here are some of the benefits she enjoyed from the utilization of social media for her business:

Increase in sales

Although Jules had a physical store, you could not compare it to the sales she made online. Through social media, people in other regions could see and buy her products. Now, there was no location barrier as all they needed was to place an order, and she used a logistic company to do the delivery.

Compared to her competitors, who had only physical stores, Jules made more sales. So, if you compare both her physical store and online sales, you would see that she was winning over others.

Her sales increased day by day as many people loved the ease that came with online shopping. Some people thought she was doing some magic, but social media gave her more visibility than others, translating to sales.

Top of mind

The jealousy that came from her competitors was almost next to none, and it was understandable. After all, their previous customers now remembered the Jules brand over theirs, all thanks to social media.

These competitors began to accuse her of stealing their customers, and she kept trying to explain that it was the power of social media. Now, since she utilizes social media for her business, she is always in the face of the industry’s target audience. Therefore, they will always remember her brand before other brands that they only see once in a while.

Undoubtedly, the use of social media helps increase top-of-mind awareness, and it is what every brand needs.

Competitor analysis

Yes, it seemed like Jules was leading the fashion industry in her region, but that did not mean she would slack or doing market research. After all, people say that you lose if you snooze.

Jules also noticed that some other people had hopped on the social media train. Typically, it is normal to get bothered when this happens, but not Jules. Instead, she was proud that she could be a pacesetter.

So, she now uses social media to check out what her competitors are doing and see if she could use those ideas to boost her brand. Also, Jules understood that not doing competitor analysis could be harmful as it usually gives valuable insights.

The fact that she was the first to start using social media for her business in the industry did not mean that she knew everything. After all, we learn every day.

Brand awareness

Jules also enjoyed an increase in brand awareness. Yes, you might say that it is similar to top-of-mind awareness, but it is also a benefit of using social media for your business. For example, for a business in Asia, Jules had made acquaintance with customers in Africa, Australia, Europe, and many other places across the globe.

So, not only was her business buzzing in her region, but it was also making waves globally, and this was her dream.

The power of social media is so great, as someone could stumble on your page, like your products, and talk to their friends about it. From there, awareness and reach keep increasing.

Brand humanization

One of the reasons anyone will keep patronizing your brand is if they can relate to some things that concern the brand. It could be your brand logo, colors, or even the captions on your social media.

Brand humanization means making your business personable so people make repeat purchases. If it is not, it becomes easily forgettable. For example, a person can buy and not come back, neither will they make referrals.

But with the use of social media, Jules can humanize her brand, and she does so through comics and stories. So, not only are you seeing her products, but you also see things that happen in everyday life.

Crisis management

With all the rumors that people, especially her competitors, spread about her brand, it will only be wise that Jules finds a way to dispel such rumors. And, what better way than through social media? Social media is that platform that gives you a channel to reach out to many people simultaneously.

It will be impossible to think that she can gather all her customers in her shop to hold a briefing session. But, she can resolve this crisis through social media.

The other day, someone called her out for bad customer service due to the negligence of one of her staff. But before it could spiral out of control, Jules was able to resolve it, and this swiftness is all thanks to social media. Just one post can go a long way.

Get customer insights

We are sure that you have always heard people say that no man is an island. Yes, this saying also plays out in social media and brand management.

Sometimes, Jules feels stuck on how to expand her brand. For example, suppose she plans to launch some new products, but she is scared of how her customers will accept them. However, she can use social media to get customer insights.

You can get customer insights through the comments people drop or even by searching for what people are saying about your brand.

The day Jules put up a Q/A on her Instagram stories, she discovered that most of her customers needed her to restock on skirts than gowns.

Generates conversations

‘The customer is king.’ Yes, all brands and businesses need to understand that customers should be treated like royalty. Also, since it is usually not easy to have people hooked to your brand, you need to find ways to engage them. A business owner can do this through engaging conversations.

For Jules, her Twitter account is one way she generates conversations and gets people to talk about her brand. It could be through Q/A sessions, giveaways, or other random social media acts that businesses usually ignore.

It is wise always to remember that no one will patronize your brand if people are not talking about it.

Increases your reach

Be you an African, Black American, or Latino, almost no one did not know about the Jules brand, all thanks to social media. It kept expanding her reach, and her products kept going to countries that she had never even visited.

Some of her customers testified that when people saw what they got, they loved it and, in turn, wanted to buy it. So, they keep referring these people to Jules’s social media pages.

So, we can agree that Jules’s hard work and social media utilization played a role in increasing the reach of her brand and keeping her at the top of the game.

Evaluation

As Jules would always say, she would never continue investing in something that isn’t working for her. However, she noticed that social media did a lot of greater good for her business, which is why she kept on using it and improving.

Social media helped Jules make some decisions through evaluation. How do we mean? Through social media, she was able to know where she gets more customers. It helped her know the minority areas where she should place more focus.

It also helped her know what gender patronizes her most and develop strategies that appeal to the minority gender. Through social media, she was also able to determine things that her customers love the most.

These are usually necessary for running a business, and social media makes all these evaluation choices easier. Therefore, helping your brand become bigger and better.

Top Social Media Strategies

An unsurprising question that we keep getting is people asking for Jules’s strategies in handling her social media. Understandably, handling almost anything is by strategies, so it is not out of place to be curious about social media strategies.

Social media strategies are highly important because they enable you to highlight steps that aid you in projecting your business effectively on social media. According to Garry Vee, creativity is key in all aspects of life, including social media.

With creativity, you can create social media content that people would love, which Jules kept doing. Then, you can either decide to handle your social media page or get a social media strategist as a business owner.

A social media strategist should bring the most value, not just a person who perceives the most value. A social media strategist should visualize wins in everything they get into and have the spirit of never giving up.

Jules opted to handle her social media personally, and these were some of the strategies that worked for her:

Having a neutral voice

Whatever you post on any of your social media pages must be free of bias. Do well to keep in mind that no two persons are the same, and your content tone has to be one that would resonate with everyone irrespective of their perspective.

Jules tried hard not to engage in triggering societal topics so as not to hurt anyone. After all, everyone is a potential customer.

As a social media strategist, it would be wrong to use a tone that would set off negative triggers in some people and seem to favor one category of persons. It would only bring doom to your business as you would be on the verge of losing customers.

Speaking in Affirmatives

It is your job as a social media strategist to ensure that any strategy you employ should be one that would portray your brand and business in a positive light. Many people testified that going on Jules’s page always brought a smile to their faces.

You need to understand that society is already hard, and you need to find a way to make things lighter as a social media manager or strategist. The tone you use when putting out content sets the tone for your target audience to follow. Therefore, you should ensure that your tone is active, encouraging, energetic, and positive.

No matter whatever negative mood you might be in, you should never allow it to show through your tone. It makes your target audience see your brand as a promising one.

Wholeheartedly Receive Scrutiny

One major social media strategy Jules used was the ability to accept scrutiny. She never believed that she was above mistake. Instead, Jules was always ready to receive criticism and make the appropriate change.

 A social media strategist should not lash out at their followers whenever their target audience scrutinizes their works. And, it would help if you realized that scrutiny does not in any way bring about downfall or downplay your success.  Instead, it is supposed to be seen as a booster.

Always remember that your success lies in your hands, and whatever outcome or end product that follows is what you molded. Therefore, you should have the ability to receive scrutiny wholeheartedly, filter it, take the best and apply it for better.

Offer Free Services

Yes, we understand that this would seem weird and scary at first glance, but it is a major social media strategy that would help gain ground. It worked for Jules, and we are sure that it has also worked for other brands.

Offering free services, in this case, entails talking with potential customers in your locality about your services and offering it to them free for some time, say maybe two weeks. Then, assure them of the results they’ll get, and ensure they get those results. When this is done, you will be assured of their repeat purchase and even referral.

After all, is there anyone who does not like freebies?

Q/A Sessions

A brand exists for its customers. You cannot better your brand when you have no idea of how your customers feel. Recall we had earlier mentioned brand humanization. Jules understood that her business was for her target audience, and she always needed to find a way to engage them.

To this end, a strategy you need to apply is Q/A sessions. Here, you get to ask them how they feel about the brand, what needs to be added and subtracted, and many more. And it paves the way for brand growth.

FAQs

Here are some FAQs about social media and businesses

What are social media tools?

Social media tools are what helps you carry out an effective job when managing a social media page. It could be a tool that helps you with keywords, scheduling, or anything. Even your phone or laptop is a social media tool as it helps you get work done. Some social media tools are Google Analytics, Buffer, BuzzSumo, Hootsuite, and much more.

It is important to remember that you may have to pay for some of these social media tools.

What are the disadvantages of social media to businesses?

As with anything that has advantages, it will also have disadvantages. Yes, social media is important to businesses, but one disadvantage that comes with it is that it is time-consuming.

If you are not ready to dedicate your time handling the social media page, you will not get the results that Jules got. Many brand owners prefer to get a social media manager as they do not have the patience.

Handling a business goes beyond putting it up on an e-commerce store like Kusnap, as you also need to do some advertising, and this is where social media comes to play. We have highlighted the importance of social media, so you shouldn’t have any other doubts.

Start utilizing social media now and start selling out!


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