What purpose does social media serve in a business? In a world where 72% of organizations use social media data to inform their business decisions, answering this question can be the key to success.
In fact, 90% of corporate leaders say that information gathered on social media allows them to take a market lead. If you also want to go beyond traditional uses and develop a competitive advantage for your company, you've come to the right place.
In this article you will learn:
What are social networks for in a company?
What are the advantages and disadvantages of social media in business?
Shall we begin?
What are social networks for in a company?
Social media is a great way for a business to introduce new products, services, and brands. It is also useful for increasing brand awareness, differentiating yourself from your competitors, and gaining valuable data about your audience. It also helps you gain valuable data about your audience.
1. To introduce new products, services and brands
According to a Facebook IQ report , 85% of people use Instagram to discover new products and services. The data also reveals that 87% of respondents took a specific action, such as making a purchase, after seeing the information on the post.
We recommend you read: Social Media Sales: Statistics and Best Practices for 2022 .
2. To increase brand awareness
On average, it takes 5 to 7 impressions for people to remember your brand. How do social media help businesses? They offer a free alternative through which you can display your products and services multiple times, even in a targeted manner, to capture the attention of potential buyers.
You may be interested in reading: 7 benefits of marketing on social media .
3. To differentiate yourself from your competitors
8 out of 10 consumers say that authenticity is a key factor when deciding which brands they like and support. What purpose does social media serve for a company in this case? To create a unique image of your products and services that differentiates the experience you offer from that of your competitors.
This may be useful for you: Social Media Customer Service: A Beginner's Guide .
According to Accenture , 83% of consumers are willing to share their data to enable a personalized experience. This is a great opportunity to gain valuable insights about your audience, such as behavioral trends and consumer habits – while respecting privacy and data protection laws, of course.
If you want to go beyond the question 'what are social networks for in a company', read: What data should I know about my client?
What are the advantages and disadvantages of social media in business?
The advantages and indian email database disadvantages of social media in business depend on how you use each platform. Here are some key facts to deepen your knowledge.
Advantages of social networks
The benefits of social media for businesses include reaching more people, increasing conversion rates, and building an online community. Check out the data that proves it!
Advantage 1: Reach more people
According to the Digital 2022 report , social media has 4.62 billion active users – a figure that represents almost 59% of the world’s population! In other words, using these platforms allows you to reach more people and promote your products or services to new audiences.
Advantage 2: Increase conversion rate
If you're still unsure about the importance of social media in sales, consider that 92% of users say they've acted on the spot after seeing a product on Instagram . This suggests that visual-first platforms can make it easier to close deals and increase conversion rates.