Social media is a core component of the internet.  Some of the key social media platforms include Facebook, Twitter, LinkedIn, and Google Plus. People use social media to share content, follow people and businesses, and create dialogue.

Therefore, if your business provides products or services to the consumer market, you need to seriously consider establishing a presence on social media.

Below are 5 key reasons your business should be on social media.

1. Connect and Strengthen Relationships with Existing Customers

Social media offers a great platform to connect with your existing customers and strengthen your relationships with them.  If people like your business, they might follow you on social media.  Then when they login to their social media accounts, they can potentially see the latest activities you publish in the social media network.    This is a great way to inform your audience about recent activities and also hear their thoughts.  This social interaction can help strengthen your customer relationships.

2. Attract New Customers

Social media can serve as a channel for you to attract new customers.  One of the key powers of social networks is the ability to share information rapidly.  The interactions people have with your social media account can easily lead their friends to discover your account.  How might this happen?  Consider these examples:

• Example One (Facebook): Assume your business publishes something interesting on your Facebook page and a person following your Facebook decides to share your social media post.   When friends share this post, their friends on the social network can then easily discover your business.
• Example Two (Twitter): Assume your business publishes (tweets) on Twitter and a follower finds one of your tweets interesting and decides to retweet it.  This means that your follower is taking your original tweet and sending it to all his/her followers.  Those followers who read the retweet will  discover your business.
• Example Three (Facebook): Assume your business publishes photographs of an event related to your business on the Facebook page and then some people get tagged in it (meaning these people’s  profile pages becomes linked with the photo).  There is the likely possibility that some friends of the tagged people will see this photo and consequently discover your business on Facebook.

Remember that friends usually have things in common.  So if one person is following your business on Facebook, their friends might share the same reasons to  engage your business.

3. Get Feedback

Remember that your social media account should not be a one way channel.  This isn’t a magazine or a television.  You can use this platform to learn more about your customers and get their feedback.  They might be able to provide insights into your product or services, reveal problems, or bring to light the next big idea for your business.

4. Market and Promote

Social media can be a great channel to market your brand, product or services.  You can use social media to highlight accomplishments, announce new products, publicise promotions, and so much more.  If you’re tactful and have a way to interestingly comunicate your product or service, then social media can be very powerful to get the word out.  Additionally, if people like what your business is saying, your initial followers might share your announcement, further helping your marketing efforts  If you’re really skilled (and lucky), you might even get your message to go viral.

5. Humanize Your Company

People are generally more interested in people than companies.  Think of some of the most famous companies in the world and then think of the ones you find most interesting.  Some companies that might come to mind for most interesting include, Apple, Virgin, Microsoft, and Facebook.    Each of these companies had or have public figures leading the company: Steve Jobs, Richard Branson, Bill Gates, Mark Zuckerberg, respectively. This gives the company a personal story, rather than just a corporate story.  You can create more interest in your company using your social network to create the personal element and/or communicate the people behind the business.    Social media is meant to be a place for authentic social interactions, so take this opportunity to humanize your company and reveal the great people behind your great product.  If you do this right, people will be more interested to see your company develop, whether it’s launching new products, expanding the company, offering employment opportunities, promoting special deals, organizing events, or more.

Hopefully, these five reasons help shed light on how social media could benefit your business.  There is a learning curve, so make sure to keep learning more.  Most importantly though, check out our post 5 Wrong Ways to Use Social Media for Your Business.  This will hopefully clarify some of the pitfalls and myths.

Do you use social media in your business?  How has it helped or hurt your business?  Post a comment below.

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