Questioning the growing power of social media in business is like questioning the role of sunlight on planet earth. It is no longer a want but an actual need for every business.
Think about what life would be like if there are no platforms that let users worldwide connect and interact. Imagine having to pay thousands of dollars on bills to reach and engage with your friends, colleagues, and loved ones. Or having to email all your recent photos so friends and loved ones can see what you have been up to. It’d be a lonely world.
But with the dawn of social media and online networking, catching up with your family, interacting with friends, connecting with customers, and learning about recent updates is easier. There are over 4.55 billion social media users, which is over 53% of the world’s population. These numbers prove that social media is here to stay, and its significance to business can’t be ignored.
How social media impacts businesses
1. Even without paying for ad advertisements, social media platforms like Twitter and LinkedIn still offer businesses a decent organic reach as long as you are sharing great content.
2. Social media has made it easy for marketers to slide into a prospect’s daily routine unconstructively. This facilitates a more personalized interaction.
3. Social networks help businesses generate more loyalty by creating private groups and social media pages that encourage engagement.
4. Social media can also impact businesses whose growth relies on collaboration. These platforms facilitate influencer marketing and other forms of collaboration.
5. Social media platforms allow businesses to take control over their reputation management. They can help generate reviews and ratings, which play a crucial role in an organization’s reputation.
6. Facebook, Twitter, and other social media platforms are virtual word-of-mouth platforms that could increase referrals.
7. Social media could help businesses gauge audience feedback.
Your business’s social media following may not take off overnight, but the long-term growth or payoff is worth the effort. The secret is to stay consistent and reap the benefits of social media for business.