The importance of social media in business is now more prominent than ever.

As the world stands on the precipice of a pandemic, industries are on the verge of collapse due to reduced manpower and monetary crunch. The repercussions of this have been faced by every kind of business around the world. Marketers are turning to online platforms to keep their businesses afloat. Social media marketing may be the ‘new kid in the block’ but its commercial value is growing at warp speed. More and more people are converting themselves into regular social media users day by day. If this pace is maintained, the social media industry is bound to flourish in the coming ages.

The internet has provided a massive change to the entire system of marketing. The benefits of social media extend far beyond increasing sales. With the ever-changing needs of your customers, what might have worked for you a few months back might not be feasible for your business now. The consumer of today adapts to every evolving context and hence, his preferences are unlikely to remain static. Thus, you as a marketer need to suit his taste and evolve your business in a way that gives him what he wants. Businesses aren't built in a day. It is necessary for you to take baby steps, starting with product promotion and targeting the right audience. So the first step towards this would be to remain up to date with the trends and a dynamic platform like social media would make your work less tedious.

It has been found that 97 percent of the marketers use social media and 78 percent of them outsell the others just by using social media as their business platform. Small marketers need to invest wisely in their marketing strategies, looking out for what works best for them. Marketing through social media is one of the most versatile and cost-effective strategies that small businesses can use to reach their target audience and boost sales over time. The social media wave is not seeing an end any time soon. 

Here are a few reasons why most marketers primarily use social media for marketing:-

1. Your Audience Is Online: According to 2019 social media statistics, there are now 3.2 billion users around the globe. That is about 42% of our total present population. With such amazing growth, every business today needs to leverage proper social media channels in the best possible way. Not because it’s the “in thing”, and not because it sounds simple, but because their target audience is hanging around the popular social networks. And they’re engaging with their favorite brands and connecting with them on different levels. According to an infographic published by Ambassador, 71% of consumers are more likely to recommend a brand to others if they have a positive experience with it on social media.
2. Customers Are More Receptive To Brands That Market Online: An interesting research shows that a user spends an average of 2 hours and 22 minutes in his social media account everyday including messaging. There is a good chance that your customers maybe checking your site everyday in search of a product or two. Connecting with your target audience can be easy if you are active on the channels that they use most often. People no longer use this platform to only stay connected with friends and family but also to follow and interact with their favorite brands. In fact, according to MarketingSherpa, 95% of online adults ages 18 to 34 are likely to follow a brand on social media. The reason why consumers may be more receptive to your brand message on social media is that it allows you to be more conversational and show a different side of your brand. Social media is a place where you can directly approach your customers and establish an authentic connection with your audience. People are usually more responsive to brands that truly value their customers and not see them just as numbers for increasing sales.
3. Helps Increase Traffic: Traditional advertising does not give you the luxury of reaching your audience as easily as social media does. Offline advertisement is more like a blind shotgun approach where you are not sure of your returns on investment because you cannot draw the real-time performance analysis of your ad. Knowing whether your advertisement is working or not is integral to your business. That is the only way how you can improve your marketing tactics and draw a bigger audience. The content you publish should be engaging and your audience should benefit from it. Customers value quality content. No one likes to see ads that are irrelevant to them. So posting good content on your social media handle creates more opportunities for you to engage new leads and direct them back to your website. If your website is optimized for conversions then it will only be a matter of time before these new leads convert into customers.
4. Social Media Marketing Is Cost-Effective: When compared to traditional advertising methods such as print media, TV and radio advertising, social ads are not only dependable but also cheaper. You’re allowed to engage on various social media channels for free before scaling with paid ads. You’re free to grow on your own, at your own pace. One of the greatest benefits of marketing through social media is that it helps you cut marketing costs without sacrificing results. Most of your social media results will come from investing time in creating and publishing content as well as having conversations with your fans and followers. The good news is that even just a few hours a week can have significant results. In fact, HubSpot reports that 84% of marketers were able to generate increased traffic with as little as six hours of effort spent on social media per week. As shown below in a cross-channel analysis, the CPM (cost per thousand impressions) on social media can be as low as $2.50. This is 3x less expensive than advertising through traditional media. Even if you decide to make social media advertising a significant part of your social media strategy, you will still find that social media marketing is cost-effective. Depending on your goals and the scope of your campaign, it is relatively inexpensive to run paid ads on social media channels like Facebook and Twitter. No matter how small your budget is, you are still able to make an impact on these channels to reach and convert new leads.
5. Boosts Brand Awareness: About 2 million businesses today use Facebook advertising for promoting their products and services. People who dismiss social media marketing as a way to build their business unknowingly let go of an incredible opportunity to improve their brand recognition. About 72 percent of customers trust online reviews of products as much as they trust personal recommendations. Approaching influencers or content creators to advertise your product serves as an excellent marketing strategy. The general audience feels more comfortable using your product and tends to trust it once the reviews come from a well-known entity on an online platform. Social media also comes with the advantage of reaching a specific audience based on the channels that your brand is active on. Rather than just putting your marketing message out there for everyone to see, you can reach your target market and work to drive more qualified leads back to your site. By posting compelling content that adds value for your target audience, you are making your brand both more accessible and familiar for new leads and current customers. 90 percent of consumers say that positive online reviews influence their buying decisions.

Jumping on the social media bandwagon is no longer a matter of choice if you want to succeed. Your business needs it. Every business needs it. The importance of social media in business is now more prominent than ever.