8 Benefits Of Social Media Marketing For Internet Startups & SMEs
Businesses in the current scenario are driven majorly by technologically advanced tools. Social media is one such powerful tool that has enabled companies to reach out to potential customers and thereby increase their business manifold. No matter how unique or creative your startup idea is, to achieve the success you need to reach out to the target audience and convey the right message. It’s important to understand the benefits of social media marketing so that you can leverage it to your advantage.
Small businesses, startups, and SMEs are using the social media tool in the most lucrative way to grow and make it big! Social media marketing strategy helps to increase customer base, engage with current customers and also build your brand awareness.
A recent study revealed that over 90% of marketing professionals affirmed the benefits of social media marketing and 80% of them claimed that it helped them to achieve increased inbound website traffic.
If you are still wondering how you can promote your startup with social media marketing tools, read on to learn more about the benefits of social media marketing:
1. It Helps to Increases Website Traffic
One of the promising benefits of social media marketing is bringing in more traffic to the websites. A survey conducted on startups revealed that nearly 72% of businesses confirmed that use of social media platforms helped to boost their website traffic.
Bringing in more users to your website, you can make them more aware of your products and services. And it goes without saying, it brings more business. REDWOLF, an upcoming T-shirt brand in India extensively uses social media for getting maximum traffic to their website.
2. Cuts Down Marketing Costs
Social media marketing turns out to be a very cost-effective tool to introduce your products and services in the marketplace, especially for digital startups and SMEs. Either you are posting promotional offers on Facebook, uploading a pin on Pinterest or using LinkedIn to make contacts, it doesn’t cost you anything. The only thing that you spend here is your time and creativity.
Not only this, in the advanced stages of startups, social media platforms like Facebook, LinkedIn, and Twitter allow their users to advertise their products through promotional campaigns. When you compare these platforms to traditional marketing channels (ATL, offline advertisement etc.), the cost required to reach a specific number of audience is much less for social media.
3. Delivers Improved Customer Service
Social media marketing strategies help digital startups and SMEs to engage with customers in the most effective manner. Facebook and Twitter help you to connect with target customers and also solve their grievances right away. All customer queries are easily resolved on the dot.
Experts suggest that 71% of customers are more likely to recommend your brand to their network of friends if they get a quick response. A positive review of your product or services from a satisfied customer can bring in more business than any other marketing tool. SONY INDIA actively uses Twitter and Facebook to interact with customers and deal with their queries.
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4. Improves Organic Search Results – SEO
SEO or Search Engine Optimization is meant to optimize your website in compliance with the guidelines of a search engine. The only means to optimize your website position in search engines is to create relevant and engaging content with superlative use of SEO keywords.
Social media platforms allow you to share your content on such platforms to instigate interest of prospective customers. Such users will be willing to visit your website and also share the content on their domains. Search engines like Bing and Google take into account such social signals when ranking websites during their search results.
5. Helps to Build your Brand Image
One of the benefits of social media marketing that cannot be undermined is that it helps to build your brand image in a way that develops customers loyalty. Startups and SMEs do not have sufficient funds to market their products in the highly competitive market.
So how can they bring about their brand awareness?
How can they reach out to more and more customers?
Dedicating a few hours for sharing your page with friends and families can help to improve visibility and create brand awareness. ZIVAME, an online lingerie startup has successfully deployed social media marketing strategies to build their brand image and reach out to the target audience.
Platforms like YouTube and Instagram allow you to share attractive images and videos of your products to get an impactful response from customers. A good review on your product on these platforms can help you reach out to customers beyond geographical locations and build your strong customer base. Get all of these without any big capital investments, thanks to social media platforms.
6. Reinforces Customer Trust and Loyalty
For digital startups and SMEs, it is not just important to reach new customers, retaining them is even more crucial. Customer trust and loyalty is the measure of their faith and reliability in your brand.
A recent survey revealed that customers who follow your brand on social media networks remain loyal and also likely to share them. Further, they help to attract new customers and bring in more business. Freshmenu, an interactive food website promote contests, quizzes and offer coupons on social media platforms to uptick their sales and attract customers.
7. Enhances Target Market Knowledge
In order to make your mark in this competitive market, it is extremely important to ‘know your customers’. Social media marketing helps to foster target market knowledge by analyzing data of customers like educational qualification, age bracket, economic status and much more. It helps you build a strong database of customers.
Also, analysis of customer feedback and reviews turn out critical when considering new product design, improvisation, and promotional strategies. COLGATE-PALMOLIVE uses social media marketing tactics to understand the demand for their products and customer views.
8. Helps to Connect with other Businesses
The benefits of social media marketing tools are not just restricted to reaching out to potential customers but also helps you to associate with other businesses. Platforms like LinkedIn enable you to connect with professionals in different fields and genre. These associations can benefit your startup in unexpected ways. More connections translate to more success.
The time and effort that you give for promoting your startup on social media are worth in all respects. If you still haven’t used it, it’s time to get started right away and write your own success story!
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