According to data, in 2020, there are 3.96 billion active people on social media worldwide. This is a 10.9 percent increase from the 3.48 billion users in 2019. Meaning, more and more people are using this platform to communicate, learn, and express themselves.
So, why do entrepreneurs need to use social media? A few years back, these platforms were known as a way to socialize and make friends. But now, you can use it to target and tap its preferred audience. Aside from that, you can also use it for support, PR, and engagement. Here at Day Translations, we use multiple platforms including LinkedIn and Instagram.
In this article, you will learn five reasons why entrepreneurs need to use social media and how you can use it to your advantage.
Create Brand Awareness
With people staying at home, social media usage is high. There are around 2.8 billion monthly active users on Facebook, 192 million daily Twitter users, 1.07 billion monthly active users on Instagram, and 722 million active users on LinkedIn. This data is proof that social media can help you gain the recognition that your business needs.
Use these social networking sites to extend your presence. The more people talk about you, the more people it will attract. When they hear about you, you are then stored somewhere in their memory. If the opportunity arises, they can recall your business. You are, at the very least, in their pool of considerations.
Gives Better Communication
No business will thrive today without a strong online presence, and social entrepreneurs understand this. They are using these platforms for several reasons, including raising awareness and motivating their followers to adapt and join in their efforts to make a difference.
Having one can allow you to listen and communicate with your customers. They can easily reach out and send you a message. Having direct communication makes it possible for business owners to keep their current and potential customers.
It is a Way to Keep Your Customers
It is a fact that losing a client is difficult, and it is more challenging to attract a new one. But, keeping a current client is ten times easier.
This is why you must put your customer’s loyalty at the highest priority. You can do this by connecting with them through social media. Using the platform, you can keep track of what they want, their challenges, and how you can make it better.
Provide them with personalized and reliable customer support. And your social media channel can do that. Customers now are looking at official accounts as a more approachable and welcoming alternative than calling a “call center” that usually cannot solve the problem. They want a superior service without all the fuss.
Saves You Money on Marketing
You can save money by using social media ads. Using TV or other print media to showcase your product is no longer as effective as it once was. The affordable cost of advertising on the platform is attractive.
You can also customize your ads depending on location, demographics, and other factors. A good example is Facebook’s ad targeting that gives you the power to promote your content to your specific audience.
You Can Monitor Your Competition
Get a firm understanding of what your competitors are up to by using social media. You cannot successfully sell your product or service until you have a solid understanding of the market and what your rivals do.
You can monitor their movements, for example, what they share, the advantages they highlight, and how they engage with their customers. Search and find negative posts, learn from them, find a solution, and give a better service.
Social media can help in various ways. From direct communication and engaging your audience to create and solidifying brand awareness. There are many reasons why entrepreneurs should use social media.
Aside from the factors listed, it is also an excellent way for you to have a good ranking on Google’s search engine. You can also connect with like-minded entrepreneurs or even create a support group. The positives far outweigh the negatives, especially now that almost everybody’s online. Take advantage.