Social media marketing is quickly becoming one of the most important parts of marketing strategy. Used correctly, social media marketing can give businesses a significant competitive advantage and provides countless benefits. According to an article by Forbes, here are five benefits of utilizing social media marketing:
- Increased Brand Recognition. Every opportunity to increase visibility of company content is valuable. Social media is important because it simultaneously makes your business more accessible for new customers and makes it more familiar to existing customers. This provides an opportunity for previously apathetic customers to become more acquainted and involved with your business.
- Increased Inbound Traffic. Without social media, inbound traffic is limited to people who are already familiar with the brand or have searched for specific keywords the business is ranked for. Every new post to social media is an opportunity to gain a new visitor. The quality of the content also has a direct impact on inbound traffic.
- Decreased Marketing Costs. Social media can generate increased traffic with as little as six hours of effort each week. With so many benefits and relatively low costs, social media can be a great investment. Starting small at first will allow you to squash any worry about budgeting issues.
- Improved Brand Loyalty. Brands that engage on social media channels typically have higher loyalty from their customers. Having customer loyalty is essential to a successful business. Research found that 53% of Americans who follow brands on social media are more loyal to those brands.
- Better Search Engine Rankings. Having good search engine rankings requires a significant amount of work. However, Google and other search engines calculate rankings largely based on social media presence. This is due to strong brands almost always having a social media presence.
Learn more about how Millenium utilizes social media!