There's no doubt about it—social media has gone mainstream. A
recent study by SocialMediaExaminer revealed that an overwhelming majority (93%) of marketers are integrating social media into their marketing efforts, but why?
For free advertising? Maybe. After all, how much does it cost to tweet? Make a status update on Facebook? Post a video up on YouTube? These services are all free to use.
But that's not what makes social media so valuable.
So what is the point of social media? How can it really benefit your business?
- Build Relationships – Today's customers want more from a business. They don't want to be on the receiving end of a broadcast message; they want interaction and communication with brands. Social media provides your customers an opportunity to engage with you and your products. Find a way to get them involved with your brand, talking about it and talking with you. Whether it’s offering a contest, asking them for input, it doesn’t have to cost a lot to talk with your customers, but it can be very beneficial. When customers buy products, they want to buy the brand and the story behind that brand. Social media allows you to build that story.
- Build Trust and Credibility - Social media allows businesses to build trust and brand equity that has future value. Customers trust the people they deem as authorities–their opinions and recommendations matter. More important than any tactic or strategy you develop in social media is your success in gaining the trust of your audience. If they don't think you are a credible source, it doesn't matter what you say or how well you say it. A presence in social media can help you develop this credibility.
The Bottom Line
The ultimate goal of marketing is to create a connection between your product or service and your customers that will motivate them to buy from you. That's where you can harness the power of social media. Social media involves a lot of time and effort, but for those who stick with it and commit themselves to providing value for their audience, the benefits can be significant.