06 Mar Why Social Media is Important to Businesses
More and more companies around the world are recognising the significance of one of the Internet’s most valuable promotional tools ever, namely Social Media. So what makes Social Media Marketing so very important for businesses everywhere?
The Power of Numbers
To begin with, the sheer number of regularly active Social Media users opens up huge target audiences. The latest statistics (January 2014 figures) of active monthly users underline this fact in no uncertain terms:
- Facebook: 1,23 Billion
- Twitter: 560 Million
- Google+: 400 Million
- LinkedIn 240 Million
- Instagram 150 Million
- Pinterest: 70 Million
This adds up to a staggering 2.65 Billion people with the potential to see a brand’s pages. YouTube adds another 1 billion users (watching approximately 6 billion hours worth of videos per month) into the equation.
Social Media Marketing
Social Media Brand Pages allow companies to show their expertise, services and products with the help of regular updates, posts, images and videos. As existing and ‘would-be’ customers view these pages, they like and share the content, further expanding the reach of the brand in the process. What’s more, they are likely to follow the brand to be informed when new content becomes available, and the likelihood of engaged followers making a purchase is increased significantly.
But Social Media does more than simply widen possible target audiences and allow brands to show off their expertise – it allows brands to communicate and interact with consumers. Allowing visitors / followers to make comments or ask question, and responding to these comments / questions regularly and quickly enables companies to build valuable relationships with consumers, again increasing the likelihood of purchases being made.
Social Media for businesses is vitally important because it provides company growth through maximum exposure and the ability to form and nurture personal relationships with existing and potential customers.