5 Benefits of Social Media for Your Small Business
Almost 20 years ago, no one knew what social media marketing was. It was because there was no such term as social media popular among the masses at that time. However, in 2017, it was found that 90% of the businesses in the USA were using social media marketing in one way or another. This shows that going for social media marketing is no longer an option for many businesses in developed countries. If they choose to opt-out of it, they may leave behind tasting the dust while their competitors plunge headfirst into new realms of customer engagement, retention rate, and increased revenues. Thus using SMM and Instagram growth services is essential for every business. However, if you are still feeling reluctant to change your mind about the use of social media marketing, you are in the right place. In this article, we will tell you about the different benefits of using social media as a platform for marketing. By the time you reach the end of this article, you will know about the various potential benefits you can reap via the use of social media as a platform for marketing.
Benefits of social media for small business
- High ROI (Return on Investment)
One of the most important reasons why you need to go for social media marketing is that you can get a high ROI here as compared to other sources of marketing. For example, if you hire a social media influencer, you can get an ROI of 1:8. In other words, if you spend $1 on a social media influencer, you can get a return of $8 in terms of your market value.
Social media marketing is also one of the most cost-effective sources of marketing for businesses. You can easily reach out to more people via social media marketing as compared to other sources of marketing at low costs. It can help you get Instagram growth as well.
- Higher recognition for your brand
If you choose to use the promotional tool of the different social media sites, you can get a significantly higher level of attention among the target market. However, you need to develop your plan of action and choose the right target market for this to happen.
- Potential of monumental growth
No one knows what might go viral next on social media. If any of your content gets viral, know that you have hit the jackpot. Your brand will gain recognition not only in your area of business but all across the globe. You may get millions of dollars worth of marketing for free if your content gets viral. Also, it is totally up to the people on social media to make content viral.
- Word of Mouth (WOM) and e-WOM
Another significant benefit of using social media marketing is the potential of WOM and e-WOM. You can easily augment your brand value if you manage to win some positive WOM or e-WOM. Even if the WOM/e-WOM is neutral about your brand, it is still free marketing being done on your behalf.
These are some of the benefits of using social media as a platform for the marketing of small businesses.