The use of social media has many benefits for a business. Social media can create connections between companies and potential customers. By monitoring businesses within the same industry, you can learn about new trends, products, and services. In a competitive market, staying updated is key. Here are just a few benefits to incorporating social media into your business. Read on to find out why your business needs social media. Hopefully, you’ll be surprised at the results!
Consumers are increasingly turning to social networks to learn more about a brand. A survey from 2020 LinkedIn found that three out of four B2B marketers saw their budgets cut, focusing on tactical marketing elements and short-term investments instead of strategic initiatives. Digital networking gives teams a platform to engage with one another in new and innovative ways, broadcasting virtual events, and spreading company news online. For brands, social media offers an opportunity to establish themselves as thought leaders, and build trust among consumers.
Social media is also an excellent way to share company stories and brand values. By connecting with audiences through these channels, you can create an emotional connection. In fact, 89% of marketers consider social media “very important” or “somewhat important” for their business. For example, YouTube alone has over one billion hours of watch time each day, which is equivalent to about a third of the world’s population. Social media can work for your business if you use it correctly.