Do you know there are 4.2 billion or half of the world’s population is active users of mainstream social media like Facebook, Twitter, Instagram, or TikTok? Seeing its massive popularity, the business leaders rightly understood that social media has immense importance in their business. Let’s know why social media has become vital for the business world.
Though competition on the web is fiercer than ever, it is also a great place for a new business to attract new customers and make them curious. Evidence? 83% of Instagram users tell that they found new products on the platform. The platform boosted one billion monthly active users. This social photo-sharing app is particularly popular in the United States and India with 201 million and 157 million active users respectively.
Social media offers businesses of all types to reach potential customers through target advertising. Facebook Ad, for example, lets you display your ad only to your prospective customers, not everyone.
what is lead is any person who shows an interest in a product or service of a company. Why lead generation is important for business is because not everyone will buy a product or service. So it is absolutely wrong to market a product or service to everyone. Social media offers an easy way to gather information of potential customers who has an interest in your product or service.
Connect with customers
Social media is not only a place to promote your product but also a place where you can connect with your customers. The real value of connecting with customers is they(customers) prefer the products of a brand that they feel connected with over other brands. . Realizing this fact, many brands are now using social media to promote their products as well as connect with customers.
Do you know what is a sales funnel? It is the path that customers take from finding your product to purchasing. Social media channels play an important role in this sales funnel. One good example of it is Pinterest. Users of this platform conduct 2 billion searches each month. What is exciting for e-commerce platform owners is that 97% of these searches are for unbranded products which means customers are interested in discovering new products. So e-commerce owners must integrate social media channels into their business strategy.