Why Social Media is Important for Businesses

Think your business doesn’t have the time or budget to invest in social media marketing? Think again. Social media is now cemented as a necessary component of traditional and digital marketing alike. Consider the facts:

•     94 percent of businesses with a full time marketer or marketing department use social media as part of their strategies. Of this figure, 60 percent of marketers devote a full day’s worth of work to maintaining, developing, and implementing social campaigns.

•    Demographics are changing. Social media is generally associated with younger users, but the reality is that the fastest growing demographic is users 55-64 years of age. This statistic rails against the prevailing idea that only teens use social media.

•    YouTube dominates. Businesses have a greater chance of reaching 18-34 year olds through YouTube than television ads, since YouTube attracts more young adults than any cable network. Plus, video marketing is considerably cheaper and more cost effective than local television ads!

Publishing content on social media might seem foreign, especially to small businesses, but the benefits are undeniable. One key metric to track is audience reach. Aggregated metrics such as Facebook’s page statistics allow businesses to understand audience growth rate, engagement, and track user acquisition. Analytics tools help business owners see the value of social media through their long-term business goals, ensuring that their social media marketing is on track.

Understanding the Real Value of Social Media

The real value of social marketing, however, is one that is immeasurable through analytics and numbers. The key reason social marketing is effective is because it gives businesses a platform to build relationships with consumers. Each business has a “voice” that distinguishes it from other brands on social sites. Small businesses, for instance, might publish personalized, localized content while major corporations offer exclusive deals through social platforms.

Social media continues to be important for businesses because of inexpensive marketing. Aside from marketing, some brands utilize their social pages as another customer service platform, answering questions that arise from their most fervent users.

The primary reason social media marketing remains critical for businesses is because the world continues to become more digitalized. The internet has replaced traditional advertising methods, such as newspapers and magazine ads, with Facebook business pages and tweets. With just 28 percent of companies reporting that they’re where they want to be in the world of social marketing, it’s clear there’s plenty of growth for every business.