Social Media and its impact on business. Are you missing out?

The internet has 3.17 billion users and of them, 2.3 billion are active social media users**. That’s a huge audience. But recent research conducted by kinex suggests that 73% of our SMEs* aren’t on social media, considering the effects social media can have on a business, could you be missing out on an opportunity?

Social media networks go way beyond catching up with old school friends. When used correctly, they’re a great tool for businesses to use for marketing, publicity, customer relations and even market research purposes. Using social media platforms such as Facebook, Instagram, Twitter, LinkedIn, YouTube, Vimeo, Pinterest, Google+ etc. can attract a whole new customer base and could possibly result in some new revenue for your company. It’s a huge audience that you could advertise your business to and most of all, most posts are free. Yes, sponsored posts and adverts do cost money but if timed and targeted well, then a free post can attract a great response.

A shopper’s paradise

Is your business in the retail industry? If so, did you know 93% of shoppers’ buying decisions are influenced by social media?*** And that 46% of millennials rely on social media when making purchase decisions****. With social stats ­­like that it could be time to rethink your business marketing strategy. Positioning yourself at the forefront of social media could also allow for some great promotional activities and generate leads.

Customer interaction

But it’s not just the commercial aspect where social media can add value to your business, it’s the fact you can actually network with your customer database. It can help target your audience more effectively, whether

Incoming traffic

It’s a given that there are many benefits and attributes of social activity for your business but one that’s prevalent is that it helps direct people to your website. Essentially increasing your traffic and placing your search ranking higher from the amount of social media shares you receive. A win win situation for your overall business social strategy.

Four flash benefits of being a more social savvy business...

  1. Increase brand awareness and reach without little or even no budget
  2. Gain insight into your audience and customer base
  3. Engage to create meaningful relationships with customers
  4. Share business promotions and activities easily and quickly

*Relates to percentage of businesses asked on our customer database
**https://www.brandwatch.com/2016/03/96-amazing-social-media-statistics-and-facts-for-2016/
*** http://www.socialeemedia.co.uk/blog/28-social-media-facts-and-statistics-2015
*** http://www.socialeemedia.co.uk/blog/28-social-media-facts-and-statistics-2015