Social Media Impact on Businesses | Binary Fountain

December 07, 2018

Impact of Social Media on Businesses

By: Kayla Zamary

What impact has social media had on businesses over the last few years? Think about it like this: millions of people use social media platforms each day, and with the invention of smartphones, people have almost 24/7 access to social media.

The good news is, most of these people are using social to engage with brands just like yours.

In fact, HootSuite found that 80% of Instagram users follow at least one business on the platform.

The impact of social media on businesses is almost immeasurable. Social media is a fast, inexpensive way for you to reach your potential customers. Having the right social media strategies can help you grow your business and your online reputation.

Humanize Your Brand

The biggest benefit of using social media is that it humanizes your brand and shows people what you do is more than a company logo. Using different platforms to create real human connection is the most important benefit your business can gain from using social media.

Social media gives you the ability to showcase how your product or services have already improved the lives of your current customers while also encouraging others to improve their lives in the same way. That can have a huge impact on your business.

Not sure where to start?

Start by posting a video on your social accounts of current customers talking about how you helped them solve a problem, and position them the hero of the story and your brand as the guide. By showing others how you impacted someone else, you can be sure you will attract more business.

A word of advice: not everyone can post catchy, 15-minute chef videos. You need to build your presence on social media so you’re established as a subject matter expert in your field.

It’s also important to think about user intent. Social media users are looking for engaging content that doesn’t go too deep into detail, but provides emotional value. This is a completely different mindset than people who are searching online for details about a product or service. Keep that in mind before posting.

The Impact of Building a Social Community

Social media platforms give your business the power to reach potential customers every time they check their profile, meaning you have almost limitless opportunities to connect with fans. According to some studies, people check Facebook alone almost 14 times a day.

We know users are plugged into what happens on social media, but that doesn’t mean they want or are excited to see your content. It does mean, however, they are interested in what their friends and family are doing.

Customers are using social media like they would word-of-mouth referrals to choose businesses. When you are able to get people to interact with your product or service on social media, you increase the likelihood that other users will see it, too. Thus you build a connection you wouldn’t have had before.

Additionally, there are probably people in private groups and messages asking for recommendations for products or services like yours. Having a good profile on social media and a well laid out website will help you put your best foot forward.

Posting regularly and keeping your posts entertaining will help you develop the kind of following you want to grow your brand—and a community to support it.

Paid Advertisement: Boost Your Social Media Impact

If you watched Mark Zuckerberg’s testimony before congress, you know Facebook makes their money by selling advertisements, not from selling user data.

If you’ve ever paid for advertisements on Facebook, you know that would be true based on your bill.

The reality is, paying for advertisement space on social media networks is a great way to impact your business, especially if you are interested in boosting your brand awareness.

It can be hard selling executives on paid advertising because “social media is free.” If you are struggling with this conversation, try framing it like you are putting money into a vending machine, but instead of getting your favorite guilty pleasure snack, you get your money back plus additional money.

Basically, it’s the old adage of you have to spend money to make money. Unlike billboards and other conventional marketing, however, paid social media is easy to track in dashboards.

Paying for social advertisement also allows you to be more focused in your marketing efforts, allowing you to reach new audiences by finding people with similar interests as your current customers and placing your business in front of them. Using retargeting and custom lists, you are able to continue the conversation with customers based on their individual behavior to show them the right product or service at the right time.

Monitor What Your Current Customers Are Saying

Perhaps the most valuable part of social media isn’t what you say to your audience, but rather what your audience says about you. Nothing can be more valuable to your business than real time feedback from customers who are already invested in your business.

Comments, messages, and engagement rates all can help inform how a product, business, or idea is being received by the audience.

Here’s the truth: your customers are already talking about you online. By engaging your audience when they have concerns or complaints, you are showing other people you are willing to take action to please customers. That goes a long way.

Similarly, if someone is saying good things about your business, you can reaffirm that sentiment by thanking the person that left the comment/review to highlight how much you appreciate your customers.

Simply put, social media is a chance for you to highlight the positives of your brand and quickly react to negative feedback given to your business.

Remember, if someone says something negative about your business, respond politely and professionally. Do not engage in a flame war.

Need Help With Reputation Management?

Do you need help managing your reviews on social media? The reputation management experts at Binary Fountain are here to help you make a positive impact on social media for your business.

Thanks to our advanced software, we are able to monitor your reviews on social media websites and on review sites like Yelp to give you a holistic view of what customers are saying about your business. This means your team will have more time to act on the insights you get to improve your business and can spend less time collecting data.

We have e-books and other resources available for business owners and marketing professionals who want to do a better job managing their online reputation. Get started today!

About the Author

Kayla Zamary
Marketing Manager

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