Social media is everywhere. No one can deny the importance of social media in business. The number of social media users increased by 10% between 2021-2022, reaching a total reach of 4.62 billion. It is no longer just a virtual space for social networking. Proper use is a great way to advertise products and services. Therefore, it is vital to understand the importance of social media for businesses in Pakistan.
According to a Hubspot survey, 79% of marketers believe that social media is an effective strategy for a business. You need to utilize social media to market your brand. It is a robust, cost-effective, and efficient way to reach almost half of the world’s population. This article will talk about the benefits and importance of social media in business. So, let’s learn more about it and the number of ways it can help you gain traffic and grow your business.
Impact Of Social Media On Business
The role of social media in business is widespread. It offers immense potential for businesses to grow. People habitually visit such platforms and are exposed to various companies. Social media has so much momentum that it influences customers’ purchase decisions.
Brands with strong media presence and powerful campaigns will experience high conversion rates. In such a competitive market, businesses should develop effective marketing strategies. Therefore, an effective social media marketing strategy will go a long way.
Benefits Of Social Media For Business In Pakistan
Now, let’s analyze some of the significant advantages of social media for business. Here are some main reasons to use social media in your industry.
Leverage Social Advertising
The role of social media in business is gaining momentum in today’s world. Ad spending is expected to hit a compound annual growth rate (CAGR) of 9.4% between 2023 to 2027. It has a projected market volume of 384.90 billion USD by 2027. This shows social media advertising is going to stay longer. Here is why you should leverage this to your advantage:
- Compared to traditional print media or television, social advertising is cheaper. Moreover, you can engage with audiences for free before opting for paid advertisements.
- Traditional media expects you to market your product blindfolded. On the other hand, social media assists by targeting prospective customers or leads.
- Unlike conventional media, social advertising enables real-time performance analysis. It keeps track of your ads. What’s more? You can change your ads on the go.
Enhance Brand Awareness
Social media is compelling to drive your brand awareness. Businesses that overlook social media while building brand awareness leave space for competitors. How will people turn into your customers if they don’t know about your business?
Popular social media platforms boost online visibility. They help you reach out to a wider audience. These include platforms such as Facebook, Twitter, and Instagram. Moreover, creating a business profile on all social networks doesn’t cost anything.
So how can you build brand awareness via social media? Well, you can:
- Find your target audience on a particular social network. For instance, a B2B company will find its audience on LinkedIn instead of Instagram.
- Use quality visuals as pictures and videos leave a lasting impression. Plus, they can lead to social shares.
- Utilize tracking tools, such as Facebook page insight, to measure social media activity.
Improve Search Engine Optimization
Marketers know that search engine optimization has a connection with social media. The importance of social media in business is obvious. Google has stated that it does consider social signals while ranking a webpage.
Social shares have no connection in rankings. But they are a gateway to drive traffic to your website. It shows the human side of your business. This is because it informs people about your products or services. Additionally, it allows them to make a conversation on social media networks.
By making a solid profile and high-quality content, you can create a powerful presence on the web. Social media allows you to get more exposure. This will drive people to your business through multiple channels.
Moreover, people are no longer just dependent on search engines. Twitter and Facebook are new engines where people search to connect to something. Businesses can use relevant keywords, hashtags, etc. Therefore, optimizing your social profile and keeping it updated with engaging content is essential.
Increase Conversion Rates
Another use of social media in business is that it helps in increasing conversion rates. We know that social media captures the targeted leads. But it can also effectively turn those leads into sales.
One way to increase your conversion rate is by using social media as social proof. If someone has commented on your profile admiring your company, use it. If someone has posted a happy Instagram picture while enjoying your service, use it. If someone has tweeted their experience with your quality services, use it.
Social proof works the best as your prospects need a sense of assurance. Social media will help you satisfy them.
Another way to utilize social media for your business is by promoting user-generated content. It is similar to social proof, but it is not natural. You ask people to post specific content on social media to reach a wider audience. For instance, Belkin asked users to personalize their cases and share them on Instagram after launching the Lego iPhone case.
There are plenty of other ways you can use if you understand the importance of social media in business. So be innovative and use this potent source to reach your prospective customers. Hence, you can convert them as leads into your sales.
Ensure Customer Satisfaction
Finding a new customer is hard, but retaining an existing one can be easy. Social media is a must-have platform if customer satisfaction is your top priority. You can use social media to connect to your customers and understand their pain points.
People tend to complain on social media as it is easier than going for a call center executive. Therefore, offering personalized customer services will help you retain your existing customers.
Social media marketing is no longer a choice. It has become a necessity to survive in this tech-driven competitive market. Half of the world’s population is engaged in social media networks. So, brands should understand the impact of social media in business. They must incorporate it into their marketing strategy.
Social advertising is a cost-effective way to get leads compared to print media. Moreover, you can track the performance of your ad campaign. Make a conversation with those interested in your products or services. One Insta hashtag or one public comment on Facebook you earn can market your business in the long run.
Wondering how to make the most of social media in business? Reach out to us now at Get Digital Pakistan to find a broader audience and grow your company.