There is mixed advice regarding social media as a tool for increasing business conversions. On one hand, there are many who insist that active social media accounts are essential for success in the modern world. On the other hand, some experts view it as a waste of time.
The truth is that social media on its own will not increase your business conversion rates. No business owner ever has seen their profits increase simply by opening a Facebook account. However, social media can be an important tool in increasing your conversions. Like a telephone or a computer, what you get out of social media will correspond to what you put into it. Here are a few ways that social media indeed can be used to improve your bottom line.
The first step in promoting a business or product is making sure your target audience knows that it exists. This is one area where social media can be very beneficial. Most businesses spend 80% of their marketing budget simply making the public aware of it. Social media provides a free platform for doing this, which can increase both conversion rates and profits.
There are many social media sites that offer businesses and individuals the opportunity to conduct free marketing. Facebook, Twitter, and Google + are just a few sites that can help your business boost. If your business strives better visually, Pinterest may be a good option for you. If you are an upcoming musicians, there is SoundCloud, an application that helps stream music free. Don’t limit yourself to just a few of the popular free social media sites, look for what is best for your niche and use it.
Why do people feel better about ordering from a business with the BBB logo? This is an outside endorsement vouching for the company and its products. A busy social media account can provide the same credibility. If you build up followers and positive reviews, potential customers will see your business as more trustworthy because of these endorsements. This will lead to a higher conversion rate. Taking the time to interact with your audience and build a fan base has a high ROI.
Another key way you can improve your conversion rate with social media is by creating content. Unlike other marketing platforms, social media offers a free and limitless space for promoting your brand and your products. If you include a link to your website in every post, people who feel inspired by your brand can follow through quickly. Will this improve your conversions? If your product is solid and you promote it well, you should definitely see conversions increase.
Know Your Audience
Social interaction goes two ways. People will be listening to you and you have an opportunity to listen to them as well. Social media is an opportunity to get feedback in a natural and organic way so you can further tailor your brand and your marketing to your customer’s needs. Listening to your market is always a surefire strategy to increasing business success.