We all know that having a company website is important for any type of business, but expanding your online reach by using social media platforms is as important as having a website. Social networking channels such as Twitter, Instagram, and Facebook are effective tools for maintaining your competitive edge. Companies that don’t use social media risk missing out on several marketing opportunities. Here are 10 reasons why social media is beneficial in growing your business.

It’s affordable

Social media delivers good results without costing a lot of money. Managing a social media account is a cost effective marketing means to promote your brand. Social media marketing campaigns are affordable, and they can already strengthen your company’s online presence. Since social media doesn’t require a big budget, small businesses can already compete with big brands.

Increased brand awareness and loyalty

Having a strong presence on social media makes it easier for customers to find you, and by connecting with them on social media, your customer retention and brand loyalty is more likely to increase. You will also get more leads when your posts are shared or when your brand gets mentioned.

Increased website traffic

Every company owner wants to increase their website traffic. Social media channels top the list of website referrals. Search Engines used to be the only focus for driving traffic to sites. But now, social media has become a powerful tool for driving traffic to a website.

High search ranking

A company’s social media presence is one factor used by search engines like Google in determining their rank on their search results page. This is why you have to be able to show growth in your followers, as well as in social media posts sharing among your followers.

Reaching a wider audience both locally and globally

You can easily use Twitter to seek out a new audience. Hashtags can help you find what people are tweeting about. You can use this opportunity to connect and engage with them. One sure way to attract their attention is by sharing content that’s relevant to them. Sometimes, simply sharing an insight or information is enough to earn a wider visibility.

Improved Social Interaction

Social media sites tell you what’s popular. They provide an opportunity for people to discuss pertinent issues. Every company needs to develop their social skills by interacting and getting involved. Initiate meaningful discussions and gain meaningful relationships. Make sure to invest time in your social interactions.

Improved customer service

Many of today’s consumers use social media to get information, ask questions, seek assistance, or provide their feedback to a brand they’ve used. You will miss those conversations if you’re not on social media. You will also miss the chance to ward off against big problems. Reaching out to your customers through social media will allow you to resolve their concerns in a quick manner. As a result of improved customer service, you gain your customer’s trust.

Ads allow targeting and retargeting

One of the major benefits of social media marketing is that ads are highly customizable. Facebook ads, for instance, lets you target users by their age, location, industry, education level, and even the pages they’ve liked, as well as their purchase history. You can also install a Facebook pixel on your website and use it to target the users who visited you.

Finding out what your competitors are up to

With social media, you can gain some information about your competitors. This will allow better strategic business decisions. You always want to stay ahead of them. Based on the information you’re able to gather, you can make some product enhancements, improve your service, or post content that your competitors may be missing.

Social media marketing will get you more sales

Getting more leads and sales is your main goal. Social media helps customers with their purchasing decisions. You just have to stay active in social media. Share some great content, interact, and provide quality customer service. Some of your followers might not become a lead right away, but they often convert into leads months later. Social media keeps your company’s name in front of potential customers. You’ll get surprised at which social media channel drives the most sales.

This post was originally published on PureResiduals.com. Republished on Life Is An Episode with permission of the author.