There are over 2.8 billion people on social media right now, and that number is increasing very quickly, especially in the Asia-Pacific region. Singapore has a 77% social media penetration rate while Malaysia isn’t too far behind with a 67.7% penetration rate.
Other than the obvious advantages of reach, we examine some of the other key benefits of social media marketing for businesses like yours.
BRANDING BENEFITS FROM SOCIAL MEDIA
Large Potential Audience
There are more people on Facebook now then there are in China, the most populous country in the world. There are no other marketing channels that can give you the potential to reach such large audiences for so little cost. Of course, not every marketing initiative will turn out like the Ice Bucket Challenge, but the potential of hitting a home run is there.
Create Brand Recognition & Brand Awareness
People tend to trust and purchase brands that they are more familiar with. With over 2.8 billion users worldwide, social media is a great channel to get your brand out there. Regardless the industry you are in, you can reach out, engage with and influence your audience on social media. Trust us, they are there, somewhere.
Humanise Your Brand
People want to connect with other people, not soulless, faceless, corporate entities. Through social media, you can show your customers that you’re interested in more than just making money. You can show them your human side
Build Authority & Thought Leadership
In this day and age, information is readily available and most people expect to get it for free. However, attention is scarce. Something interesting and exciting is always just a click away. So how do you gain your audience’s attention? A great way is to build your authority and thought leadership within your industry. By creating relevant and useful content and publishing them on social media, you better position yourself as an authority in your space.
CUSTOMER SERVICE BENEFITS
Social Media Increases Customer Loyalty
Every marketer knows that getting sales from new customers is much more expensive than retaining customers. Increasing customer loyalty and getting them to work with you over and over again is thus critical to any company’s success. Social media helps build that loyalty. Research in the United States showed that 53% who follow brands on social media are more loyal to those brands.
Reduce Customer Service Costs
Using social media as a customer service can lead to lower costs, as telecoms company BT shows us. In highly competitive markets, customer service is seen as a key differentiator. Using channels that are convenient to your customers, such as social media, help to better serve them, thus reducing churn rates and increasing customer lifetime value (CLV).
HR BENEFITS FROM SOCIAL MEDIA
Employee Engagement & Advocacy
With the constant search for revenue growth, we tend to forget about our internal employees, one of our most valuable resource. They need to feel valued, a sense of purpose and feel that their contributions are appreciated. A key benefit of social media is its ability connect with and engage with your employees. Showcase their contributions and efforts and make them feel appreciated. Your employees are also your biggest advocates on social media.
Drive Conversions to Your Site
For most consumer-oriented businesses, Facebook is a great channel to generate conversions. Most of their target audience would already have Facebook accounts and can be reached via smart targeting. LinkedIn serves a similar purpose for B2B companies.
98% of first time visitors to your website will not take any action (buy or fill in a form). It usually takes them seven or more visits before they do so how then do you keep your brand top-of-mind? Retargeting plays an important role here. By showing your ads to previous visitors of your website on social media, you increase your brand recall. When they are ready to make a purchase or request for a quote, then hopefully they will remember your brand.
CONTENT MARKETING BENEFITS
If your organisation is creating content of any kind, then it goes without saying that you need to be on social media to promote that content. Social media is one of the most cost effective channels to distribute content. In fact, customers expect it as 73% say that regularly getting useful information from a brand is an important attribute when making a purchase.
Personalise Messaging to Different Segments
Facebook allows you to show specific posts to specific people. This specificity helps to strengthen your messages. A global brand can also use Facebook’s Global Pages to segment their audience according to geographic location. For example, users from Malaysia will automatically be redirected to the Malaysian Facebook page while Singaporean users will be sent to the Singapore site.
SEO BENEFITS FROM SOCIAL MEDIA
Social media is an integral part of any modern search engine optimisation (SEO) strategy. While Google has mentioned that social media links are not a ranking factor, social media is still an important channel for outreach and content promotion.
Reputation Management (Rank Social Assets for Brand Name)
Social assets can be used in an SEO reputation management campaign. You do this by ranking your social channels such as Facebook or LinkedIn page for your key brand pages to crowd out the SERPs.
Are there any other social media benefits that you think we missed out? Let us know in the comments below!