Have you ever wondered: “Why is social media attractive to businesses?” Why would any business use Twitter or Facebook? The world got along fine without them, didn’t it?
Let’s take a look at some of the reasons why social media is attractive to businesses.
1. Money ($1.3 trillion, to be precise)
Whether or not money makes the world go ’round, it’s one of the main reasons you’re in business, right?
McKinsey Global Institute estimates that social media could add $1.3 trillion to the global economy if businesses used it effectively.
So, do you want your slice of the $1.3 trillion pie?
2. Customers (1.25 billion of them)
Facebook has 1.25 billion members. Twitter has over half-a-billion users, as does Google Plus.
Your customers are already using social media. And many of them are using social networks to interact with their favorite businesses. If you’re not present on social media, you’re missing out on building a relationship with your customers.
Building brand awareness on Facebook isn’t about boosting your ego. Far from it. Your presence on social media will have real business outcomes. Your customers will tell their friends about you because of what you do on social media.
Research shows that 90% of consumers would be happy to recommend a brand to their friends or family after interacting with that brand on social media.
People follow businesses on social media for all kinds of reasons. These include:
- supporting a brand that they like
- getting regular updates from a brand they like
- to share their good experiences with a brand
- to research purchasing decisions
- being told about the brand by a friend
Social media builds your brand’s visibility. What if you’re a B2B business or a service provider? Maybe you only have a small number of select customers. Visibility doesn’t matter to you.
If that’s you, what does matter to you is networking. The wheels of your business are oiled by meeting people.
Social media gives you an opportunity to network and meet thought leaders in your niche. Never before has it been so easy to reach out to anyone you can think of.
Twitter is the networker’s social network. As long as the people you want to connect with have Twitter accounts, you can get their attention.
For slow burn networking, LinkedIn groups are ideal. Find groups that match your industry or interests, and you’ll connect with fascinating people all around the world.
Why Is Social Media Attractive to Business?
Why is social media appealing to businesses? Now you know. In fact, perhaps the real question is: Why wouldn’t a business use social media?
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