The relationship between businesses and consumer has changed immensely due to the advent of social media. Today, consumers have a lot more control and power on how businesses are driven.
Businesses is starting to understand the power of social media and how it can help them improve their business or fail. This is why businesses are making efforts to have their presence felt on social media. There is an estimated 20% yearly increase in social media ad spend.
In order to understand how these marketing investments on social media are performing, businesses start to look at social media analytics to gain information. Social media analytics help companies:
- Strategize on how to improve social media marketing by understanding consumer likes/dislikes/ etc.
- Create interesting content by understanding what consumers are talking about recently
- Listen to what consumers say; whether it is within the consumer’s own social media page or in the business’s social media page
- Monitor social media progress by viewing trends and demographical data of their own social media pages as well as competitors’
- Prioritize engagements with consumers. For businesses that have grown their social media profile, it is important to learn how to prioritize which consumers to engage with
Increase consumer engagement
Companies can ask for consumer participation while doing online marketing. This is through creating polls, user-generated hashtags campaigns, have appealing podcasts, making promotional videos and so on. This is meant to motivate the buyer to purchase the relevant product or service because now they know that their wishes are being valued.
Improve search engine optimization
The major benefits of social media for promoting your business include search engine optimization. More people talking about your business on social media can lead to more likes and followers. This hopefully leads to more people recommending your website page to others. This way, your web page will rise up in search engine rankings.
Increase brand awareness
The average person has five social media accounts and spends around 1 hour and 40 minutes browsing these networks every day. (The Telegraph) By making your presence active in social media, you can keep the memory of your business fresh in the minds of people. This awareness about your business will mean that eventually, people will convert when they require your products or services.
Increase brand advocates
Word of mouth advertising has its benefits that are best seen through social media analytics. People tend to trust brands that their friends use or recommend much more than any kind of product descriptions or reviews that may be available on a webpage. Convert your current customers into your own brand advocates. Ensure that they are happy with your products and services so that they can help you advocate your brand better.
Social media marketing influences consumer mind
Social media analytics cannot be ignored anymore; hence, businesses need to be or start to be active on social media. This is especially true for small and medium businesses as they are still trying to create a niche for themselves in the market. Don’t think that social media marketing only applies to online retailing, it definitely applies to offline businesses as well. Consumers tend to do research online first before making any purchase decisions. The more you have a presence and credibility online, the more people you can influence to convert.
Source: Smaxpert
