Social Media has become more frequent with the growing popularity of social platforms like Facebook, Twitter, Instagram, etc. It has become one of the fastest powerful and an easy way to approach customers as well as connect with them. There are a number of ways to generate revenues from social media but the most powerful and easiest way is to utilize it in the form of sales and marketing.
Social Media not only help companies to strengthen the relationship with the customer but also creates new engagements. One of the reasons why a business should go for social media marketing is that it provides the full analytics and let you know which campaign is successful and which is not.
Here are the 9 ways through which Social Media Marketing drives revenues as well as Increase the Brand Value:
1. Cost Effective - Being one of the cost-effective forms of marketing is the biggest advantage of Social Media Marketing. All you need to do is create your brand profile which is free, you only have to pay for the paid promotions which are comparatively less than any other marketing tactics.
2. Faster - Social Media Marketing is faster compared to any traditional media. For instance, it would take months to plan out commercials for radio or television, whereas for advertising in a newspaper there needs to be an empty slot and also you have to wait for the release.
3. Brand Awareness - With a constructive social media strategy, a brand can enhance its presence and engage with a wide audience.
4. Large Audience - Everyone has become a social media addict nowadays, you will find most of the people will be using at least one of the social media platform. Promoting on either one of the social media could give an exposure to your brand to millions.
5. Website Traffic - Cross-linking your website link with your Facebook page helps in increasing traffic to your website which might even lead to sales.
6. Search Engine Rankings - To gain higher page ranking and to acquire more traffic to your website, search engine optimization is very crucial for any business. Although social media doesn't directly influence the search engine rankings, with the help of some high-quality content which includes targeted keywords it can improve the ranking.
7. Conversion Rate - With the increase in brand visibility, the business achieves more opportunities for conversion. Content posted on social media will lead viewers to your website and increases traffic. The conversion rate is higher with social media marketing.
8. Customer Engagement - When a business profile is very prompt in answering queries and post relevant content, it boosts the customer engagement. Communication helps in developing a better relationship with customers.
9. Customer Satisfaction - Social media is a networking platform and the complaints or comments or any other questions asked by the customers is acknowledged leading to the satisfaction of customers. Being interactive on your business social media helps in also creating a brand image.