(WBBM NEWSRADIO) -- Social media has grown from a fringe marketing strategy to a core component of marketing for businesses of all sizes. The financial investment is minimal and if executed correctly, a social media campaign will help grow a business. This cost-effective marketing tool is perfect for entrepreneurs to increase company exposure and customer growth. It is crucial to contribute enough time to the process, but the results can make it well worth your while.
Build your brand
One of the most effective and successful marketing tools is your brand. Having a clearly defined brand will help you build the rest of your marketing strategy, as it will help you build your message and communicate it to customers. According to a blog post published by Southern Cross University, “The impact your brand strategy can have on your entire business is immense; a poorly-planned or confused brand strategy can have damaging flow-on effects across the larger business strategy.” Social media can help you communicate your brand consistently through many channels.
Create loyal customers
A popular component of social media is that it allows business owners to communicate with customers in real time. If an angry customer blasts your company on social media, you typically know about it instantly and can begin repairing the relationship. Conversely, social media also serves as an excellent tool for happy customers to share your business with their own social network. Forbes advises, “Brand loyalty is incredibly important, and social media plays a key role in the success of your ability to build and sustain that brand loyalty. Staying engaged on social media can truly make all the difference.”
Since social media allows you to interact with your customers, it can help you identify potential problems with your business. This honest feedback can help your business improve, thus growing its customer base. Much like suggestion boxes and customer comment cards, social media gives customers a tool to communicate features of your product or service that they would like you to improve. People may be more likely to speak up when they have a complaint, and the method by which you approach these complaints can help build a positive image in the minds of potential customers.
Social media marketing channels are now a key component of most businesses and they can serve as a cost-effective method of growing your company. Using these tools to build your brand and foster customer relationships can help you create more customers long term.