Is your business benefiting from social media?

Is your business benefiting from social media?

Is your business on the social media bandwagon?

There are 2 billion people online and 5 billion have mobile phones. In 2015, if consumers want something (information, recommendations, products, services) they search online. This means that if you are a business or brand you have no choice to be included in social media channels where conversations are highly trusted and influential. It is an integral part of our lives today, business have no choice but to do social media and to do it well. The benefits are in leveraging your industry savoir affair to thinking outside the box to become viral and ultimately create a digital footprint that will only increase your brands notoriety, but most importantly the bottom line. According to Boston Consulting, “SME’s that are online and engage have grown revenue up to 22% higher and sales up to 6x faster than those with the little or no presence online. Exact Target shows 66% of marketers believe social media positivity impacts business performance and plan to increase use this year” says Dionne Lew.

Here are 5 reasons why you should integrate social media:

   1. Social Media is the next best thing to chocolate

Business leaders are adopting social media such as twitter, Facebook and Linkedin, because more than half our current global population is under 30 years old (the millennials) and are highly influenced by social media. 95% have joined a social media network. 1 in 6 get married through online apps. 1 in 4 buy property through digital, 1/3 of women 18-34 check Facebook when they wake up and 81% check social networks before they make any decision on purchases and activities. 50% of people under 34 years old follow their friends and get influenced by their purchases, recommendations and experiences “ says Neil Shaefer.

   2. Less expense than other media

Social media is cheaper than all other broadcasting strategies. 66% of marketers believe social media positively impacts business performance and plan to increase this use in 2016. The analytics in social are measurable unlike most other forms of PR and marketing. ROI can be determined, and social media can act as your sales network. A good example is on Twitter where 34% of marketers have generated leads, the new form of lead generation B2B is LinkedIn which costs under $100/month subscription.

    3. Better customer service

Better customer services become more personal and more likeable. Social Media give you the ability to listen to your customers, find out what they want, address problems before they arrive and cater to needs with sentiment analysis. Companies can get this mountain of data and turn it into valuable IP for their companies. 81% of companies have accounts on social media sites and this provides them with feedback from their clients.

     4. Direct contact with the customers

It is all about building a dialogue with your customers, co-workers, and potential hires. 93% of business buyers are social media advocates. Influencer marketing is important for amplification of your brand. 78% of consumers trust peer-to-peer recommendations. Today people get their information online. Your social media footprint is more important than any other form of media. Allow customers to get acquainted with who you are makes you human.

    5. Internal social networks allow companies to be more transparent

Social media is the new way of thinking and marketing. Your employee and managers become your ambassadors, they help promote your company giving them a greater ability to see what is happening at a micro level in real time and fix issues before they have time to surface. There are incremental benefits when social media is done well.

Big data leads to better business decisions. The automated data delivery to the right person at the right time only available in social media is a great asset.

The transformation of business data to information is a timely process, given the current social media tools available companies are aided to understand what their customers want and need in real time. This is a new opportunity to take data and transform into business intelligence faster at a lower cost. These tools allow for flexible search access and sink tools, as well as sourced data that is analyzed and delivered to your door with insights into your brand and customers.

Remember to do something amazing with your social media and your customers will love you, remember you and make sure everyone knows about it. Social Media has already affected your business even if you don’t know it yet.

The question is not IF you will do social media? Social Media is NOT an option.

Lydia Moreyne