How Does Social Media Affect Business
When starting a business, marketing your company is very important. Without promoting the products and services that you have your business will fail. There are many forms of marketing that can be used to showcase you company and get your name out there. Social Media is a popular form and can be very economical for starting out.
Jayson Demers of Forbes.com states, some of the importance of using social media for a startup is, increasing brand recognition, brand loyalty, more opportunities that can convert, higher conversion rates than conventional marketing, a higher brand authority, increased traffic, lower marketing costs, …show more content…
Consumers realized that social media is powerful and that they can pretty much find what they want online, if you promote your business using this avenue, you are sure to improve customer loyalty.
Once you have built a customer following, posting comments online will help you in converting more opportunities and the potential can be endless.
Social media channels can effectively be used to increase conversion rates. By utilizing this form of media for showcasing your brand or service, people like to deal with other people more than dealing with business’ directly. This can lead to increasing your conversion rates and in turn will lead to more sales (Demers, 2016).
Communicating with you customers using social media will help with brand authority. For the most part consumers will use social media to either complain about a product or service or will brag about something that they have purchased and this will turn you into an authority for what you are promoting.
By not using social media you are limited into the amount of inbound traffic that you will see for your business. Having a presence on social media opens up more channels that will lead back to your business site. By always posting quality content you open a whole new world to marketing and increasing …show more content…
According to Jayson Demers, contributor to Forbes.com, marketers have found that six hours of effort per weeks was enough to increase traffic (Demers, 2016). Paid advertising through Facebook is still more economical than placing an ad on the radio, television or even in magazines.
Social media will help to increase the amount of channels to your site and will assist in better search engine ranking for your business. Search engines recognize that social media is used for building strong brands and use this information to increase rankings (Demers, 2016).
Having a presence on sites like Twitter or Facebook will increase customer satisfaction and a better experience. When people post a negative or positive comment about a product, service or experience that they may have had, you can provide a quick response which will show the customer that you take your business seriously and that you do whatever it takes to make things right and will make a happy customer.
Social media can improve your business by providing customer insight into what products or services they are looking for and what items work and don’t work. You can use this marketing channel to post different promotions and to see which ones convert better than others. (Demers,