When you think of promoting your company and your brand, what do you picture? Emails, print ads, brochures and commercials? Maybe signage outside your brick-and-mortar business. The basics, right? These are a few tried and true ways businesses have promoted themselves in the past. However, as the world has changed – especially this year – businesses everywhere are having trouble using these the way they used to.

Whether you’re breaking ground on your first business or you’ve been in the game for years, there’s one aspect today’s businesses can’t survive without: Social media.

Its presence is impossible to ignore. No matter where you go, you’re constantly surrounded by people Tweeting, commenting, sharing, liking… The list goes on and on. And although social media may seem like a trivial detail, it deserves every bit of hype it’s gotten.

Social media’s multigenerational reach is stronger now than ever before. Teens, young adults, parents and even their parents are all connecting and sharing through these virtual coffee shops – For a company desperately seeking exposure with its target audience, this opportunity is unprecedented
While the amount of information on social media may seem overwhelming to those newcomers out there, you’ve come to the right place. We’ve done all the digging for you and have compiled the top 3 benefits of having a strong social media presence.

1. Customer Reach

First, let’s start with the numbers. According to this article on Oberlo.com titled, there are about 3.08 billion social media users as of 2020. I repeat, 3.08 billion. For reference, there are around 7 billion people in the world – so that’s nearly half of the entire planet. What does this mean to you as a business owner? Reach. This is undeniably the greatest benefit of social media in relation to companies – particularly for smaller or budding businesses. The sheer number of social media users provides the potential to connect with tens of thousands of new consumers who were previously unreachable. According to Hootsuite.com, 92% of Instagram users say they’ve followed a brand, clicked on their website, or made a purchase after seeing a product/service on the platform. To sweeten the pot, 84% of Instagram users say they’re open to discovering small/local brands, or new brands and products. This is a major win for every startup, mom n’ pop shop, or small-town business. Moral of the story: whether they’re 10 miles or 1,000 miles away, you can quickly and easily reach consumers on a global level through social media. With each post, share, comment and ‘like,’ you’re exposing your company to more and more consumers. The further your reach, the greater your awareness.

2. Decreased Marketing/Advertising Costs.

The second major benefit of having a strong social media presence is the potential to lower your marketing and advertising costs. Traditional avenues can cost your company thousands of dollars and may still ultimately be ineffective. Two perks of advertising through social media: it costs nothing to create an account, and there are proven metrics to monitor your progress. Add in the benefits of social media ads to increase exposure– all at a cost much lower than traditional ads – and you have a winner.

Still not sure? Consider this stat from Business News Daily: 78 percent of people say that companies’ social media posts influence their purchases. That means nearly 4 out of 5 consumers are basing their purchasing decisions on a medium that cost virtually nothing to the company. That means more cash stays with your business and you increase your sales.

3. Improved Customer Service.

Last, but not least – a strong social media presence allows for improved customer service. How, you ask? Picture this – It’s Monday morning and your new coffee-maker has just been delivered. You unpack it, plug it in and realize it won’t brew. You call customer service only to hear you have 45 minutes until the next available representative. So now you’re stuck on hold, angry and uncaffeinated.

Sound familiar? This is where social media gives companies a unique advantage. Increasing lines of communication means more accessible customer service. We are seeing more and more individuals Tweet, direct message, and tag companies to get their attention. If you have a strong social media presence, your accounts can provide the unique opportunity to converse with individual customers in real time. Thus, allowing you to address and resolve customer service concerns as they occur. The quicker you can resolve an issue, the happier your customers will be.

And, it gets even better: You can also score your business some major brownie points if you handle a customer issue properly. When publicly addressing a customer service matter, a quick and sympathetic resolution will show fellow consumers that you value your customers, not just their wallet.
Social media for businesses in a no-brainer these days – are you using it to its full potential? If not, you’re leaving a LOT of business on the table!