Despite social media’s proven track record, there are still some companies who aren’t quite sold. Maybe you have questions about the value you’re getting from itor even the benefits of social media for your business.
Whether you’re looking for some new ways social media can benefit for your brand, or trying to sell its value to the C-Suite or even clients, we have you covered.
1. Increase Brand Awareness
One of the most obvious benefits of social media is increasing brand awareness. With millions of users on Facebook, Twitter, Instagram and other networks, there are plenty of people to reach. And several of these users have never heard of your brand.
Use social media as a way to fill in the gaps and get exposure to a new audience.
2. Improve Brand Loyalty
Are people willing to choose your brand over the competition on a consistent basis? Or would they be willing to switch to another product or service if it were cheaper or newer?
When you think of companies like Nike, Apple or Starbucks, you’ll notice their customers are extremely loyal and consistently choose them over the competition no matter what.
Building that type of brand loyalty doesn’t happen over night, but social media can help you get there a lot faster. You have the ability to consistently interact with your audience, respond to questions in real time and build a tribe on different platforms.
Curious about what drives brand loyalty? According to research from Rare Consulting, 86% of consumers feel it’s about likability and 83% say trust.
3. Build Brand Equity
Getting someone to go from a prospect to a customer isn’t always as simple and straight forward as getting them to discover your brand and then make a purchase.
Instead, you need to earn their trust by initially providing your brand’s value for free. Whether it’s through blogging, free guides or other resources that educate or entertain consumers, you need to build equity with prospects.
Social media eases the process because you can consistently share free and valuable content across all your profiles and earn trust over time.
4. Humanize Your Brand
Social media has been great for breaking the stigma of faceless corporations that are only after customers’ dollars. These days, consumers care just as much about who they’re buying from as they do about what they’re buying. Use social media as a way to humanize your brand and showcase your company’s personality.
Start by developing a brand voice. It should be consistent across all of your profiles and fit the perception you want to give about your brand. For instance, Wendy’s has developed a humorous and witty voice that consumers now associate with their brand.
7. Reputation Management
People will talk about your brand on social media regardless of whether or not you’re active on the platform. It’s in your best interest to be proactive by using social media monitoring tools to see what’s being said. You can use a tool like Sprout Social to monitor mentions of your brand name so that you can quickly respond to customer complaints or issues.
8. Boost Customer Engagement
If you’re not engaging with your customers, you run the risk of losing them. According to a report from Gartner, churn can increase by up to 15% if you fail to respond to customers on social media.
Struggling to interact with your audience? We wrote an entire guide on how to increase social media engagement.
9. Open Communication
Don’t overlook the “social” part of social media. The beauty of social media is it provides a two-way form of communication. Instead of just shouting your message to your audience, you can communicate back and forth between each other.
We’ve seen several new features from Twitter, Facebook and Instagram over the past couple years to prioritize social customer care. And at Sprout, we’ve added Twitter Feedback, Instagram Contact View and other features designed to make communicating with your audience easier and more efficient.
10. Crisis Management
PR issues can happen at any moment. Whether it’s the company CEO Tweeting something inappropriate, a controversial television commercial or a customer service fail, you need to be prepared with a crisis management plan. One of the first places people will go for information when your company has a blunder is social media.
You can use Facebook or Twitter to issue a public statement or respond to questions and concerns.
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