If you are aged 18 to 29 there’s a good chance that you actively engage in some form of social media at least once a day. In fact, a study from the Pew Research Center found that 88 per cent of U.S. adults in this age group make daily visits to either Facebook, YouTube, Snapchat, Instagram or Twitter.

On top of that, research from 2018 suggests over four billion people globally are using social media each month.

Consequently, the online landscape has quickly become an essential new platform for businesses to expand their overall reach.

For instance, the power of digital marketing provides business owners the opportunity to connect with millions of customers worldwide. Moreover, it allows for the ability to capture the attention of a desired demographic, while also affordably promoting for brand awareness and loyalty.

However, this is only the tip of the iceberg when it comes to the benefits of having an online presence for your business.

[Social Media. Used with permission. William Iven]

According to Social Media Examiner, the use of digital marketing strategies has been directly attributed to a substantial increase in brand sales, exposure, traffic, leads, and partnerships.

Therefore, detailed below are a list of ways how investing in social media can be essential to your business’ growth:

Improved Visibility

Firstly, the creation of social media profiles allows for a business to begin networking with a wider range of potential customers. Spending time actively engaging with each platform will help increase market visibility and brand awareness. Studies show that 91 per cent of marketers who implement a social media strategy reported more exposure to their brand. 

Increased Traffic

Sharing content across various social media channels creates more opportunities for users to interact with your business. Furthermore, content with a call to action factor allows you to give users a reason why they should click through your channel or website. Research suggests, 86 per cent of people who use social media saw a significant increase in driving traffic.

Brand Loyalty

In 2019, having a social media presence is vital to business success as it allows for your customers to find and easily connect with you. According to Digital Doughnut, connecting with your audience through social media increases the probability of seeing an upsurge in customer loyalty and retention. This is due to the fact a bond is being created between the business and the consumer, as there is a mutual connection being formed. Besides, social media platforms typically act as the primary source for customers to communicate with a business.

Added Revenue

Finally, once an online presence is established and a steady flow of traffic is being received, social media can provide the opportunity to raise revenue. For example, advertising your products or services in the digital sphere lets you build direct links to your media channels or website, which in turn increases the likelihood of boosting overall sales.

Tell me in the comments section below, how has social media proven to be a wise business move for you?

Timothy Thorpe is a Master of Marketing Communications student at the University of Melbourne. @timothythorpe47

[Featured Image: Analytics. Used with permission. Georgia de Lotz]