Because it appeared so quickly and can be used by anyone with internet access, some may see social media as a passing business marketing trend. But the data tells a different story.
A 2016 Social Media Report by We Are Flint revealed that 84% of UK adults are now using social media, 66% of which use it on a daily basis. Troublingly, a similar report by the Office for National Statistics also showed that the proportion of small businesses using social media compared to large businesses is notably lacking. It reported that 82.7% of large businesses with more than 1,000 employees use social media, while only 48.8% of small businesses (employing less than 40 staff) use any social channel for their business.
At Square, we know that time is a precious commodity for all business owners and operators — and having to manage your own social media pages can take time away from running your day-to-day operations or managing your accounts. Fortunately, the rapid developments in smartphones and other mobile devices, as well as cloud-based applications, have made jumping on social media faster and easier than ever before.
5 benefits of social media for your small business
Consider the huge benefits that engaging in social media can bring to your business:
1. Increased brand recognition
Every opportunity you have to share your content and increase your business visibility is valuable. Just think of your social media networks as new channels for your brand’s voice.
2. Better customer service and insights
It’s becoming more and more common for customers to flock to social media to seek assistance, ask questions and provide feedback. Your business will miss those conversations, as well as the chance to prevent any bigger problems if you’re not on social media. This activity is also beneficial for generating data about your customers in real time, giving you great insight into their likes and dislikes.
3. Improved brand loyalty and conversion rates
Business owners who engage on social media channels are in constant dialogue with their customers, allowing them to build higher loyalty. Every post has the potential to connect you to new and repeat customers — and gives you the ability to make an impression with all of them.
4. Increased website traffic and search ranking
One of the biggest benefits of social media for business is the fact that it can increase your website traffic. Not only do social media posts drive new customers to your website, but the more social media shares you receive, the higher your search ranking will be.
5. Updates on what your competitors are doing
Social media monitoring also helps you can gain key information about what your competitors are doing to drive business. This insight will allow you to make strategic business decisions to stay competitive.