Why social media marketing is important for business

Social media is now a part of our everyday lives — from scrolling on our phones in our downtime to sharing special moments with our friends and peers; billions of people worldwide now embrace social media as a primary means of staying connected with friends, family, and global events. But social media does more than eliminate physical barriers to communication; post-2021, social media power has evolved into a powerful platform that influences opinions, shapes trends, and drives purchasing decisions.

For businesses, tapping into this cultural shift is not an option — it's a necessity. Across various industries, social media marketing has emerged as a crucial tool for reaching audiences, building brands, and driving growth — and it may just be the tool you need to boost your brand.

In this post, we’ll discuss why every business should be marketing on social media.

7 reasons social media marketing is important for businesses

Social media marketing goes beyond just likes and followers. When used strategically, it can help your business surpass growth goals that not only elevate your brand but make it memorable.

Here are seven benefits of social media marketing and how it can transform your business:

The first step toward business success? Make people aware of your brand. According to DataReportal, around 75% of internet users use social media platforms to research brands, making it a prime channel for introducing your business to new audiences. In fact, 69% of social marketers consider driving brand awareness as their top goal for social media.

Today, there are 4.89 billion social media users, representing more than half the global population. This means social media offers an unparalleled opportunity to reach a wide audience and introduce them to your brand, products, services, and values.

Social media is great for driving brand awareness, but conversions are the metric that will determine whether a business makes a profit. Luckily, research indicates that social media has a 100% higher lead-to-close rate compared to outbound marketing, and 66% of marketers who dedicate at least 6 hours per week to social media have seen lead-generation benefits.

Unlike other channels, social media marketing allows brands to reach people at all stages in the buyer’s journey and guide them through the process over time. Social media marketers can post content tailored to people in specific stages. Marketers can then retarget users who interact with the post through ad campaigns designed to motivate each to take subsequent steps until they’re ready to convert.

By patiently nurturing leads in this way, marketers can increase conversions and develop lasting relationships with customers.

Trust has become a valuable currency for businesses in an era of skepticism. Social media provides a transparent window into a brand's practices, values, and customer interactions. With the right messaging and strategy, social media marketers can build trust to attract new customers and even turn them into advocates who will tell others about you.

A whopping 71% of consumers who have had a positive experience with a brand on social media are likely to recommend that brand to others. Small actions by brands, like timely responses and personalized interactions with customers, can foster a sense of loyalty and advocacy within your audience.

Research suggests that, in the US alone, 3.3 billion social media brand mentions and 2.4 billion brand-related conversations take place each day. Social media marketers can monitor or join conversations about their own offerings to understand what customers do or don’t like, then adjust messaging to cater to consumer preferences or relay the insights to others across the organization for larger-scale changes. Marketers can also monitor conversations about their competitors to identify strengths, weaknesses, and opportunities.

Beyond listening and occasionally joining these conversations, marketers can even publish posts in the form of polls or open-ended questions seeking customer feedback. This practice helps brands improve their offerings and strengthen loyalty by valuing customer opinions.

Traditional marketing methods were primarily a one-way conversation; brands delivered a message and hoped customers interpreted it as intended. But, modern social media provides the opportunity for two-way interactions. Brands and customers can post content and react in real-time through comments, likes, and shares.

No surprise then, that a study found that 65% of consumers are somewhat or very interested in communicating with brands on social media, making it the preferred channel for engagement among all options.

Social media marketers can spark engagement through content that’s meant to drive reactions and discussions among consumers. Alternatively, marketers can respond to mentions or join discussions happening outside of the brand’s own posts.

This engagement not only deepens the connection between businesses and their audience but also amplifies the reach of their messages.

In an overcrowded market, establishing your brand as a thought leader can set you apart from the competition. And sharing insightful content, industry trends, and expert opinions on social media can position your brand as a go-to source of knowledge. In fact, consumers are 131% more likely to buy products from a brand that provides educational content.

By consistently providing valuable information, businesses can gain credibility, trust, and a loyal following.

Social media's omnipresence helps ensure that your brand remains visible and relevant to your target audience. A related survey reveals that 90% of consumers purchase products or services from brands they follow on social media.

By consistently appearing on users' feeds with captivating content, businesses can maintain a steady presence in their customers' minds, leading to increased brand consideration above competitors that show up less often, or that don’t appear at all.

Utilize social media marketing to achieve your business goals

The importance of social media marketing cannot be understated — therefore, learning how to harness its potential fully can better position your business to thrive in today’s competitive market.

Businesses can turn to solutions like Khoros for social media management and marketing to level up their digital game. With its comprehensive suite of tools, Khoros allows businesses to streamline their social media efforts, engage their audience effectively, and track their success in real-time — all on a single, user-friendly platform.

Schedule a demo or contact us to learn how you can help take your business’s social media marketing strategy to the next level with Khoros!