Small brands have used platforms like Instagram and Facebook to sell thousands of products to people across the world. The power of social media is one that all entrepreneurs should recognize and utilize. There are over 3 billion internet users—and over 2 billion of them have active social media accounts. Social media is no longer an option, but has become an essential requirement for all businesses and brands. Popular social media platforms have become huge networks free or cost-effective access to millions of people, offering businesses valuable data about their customers.
According to Hubspot, a popular inbound marketing platform, 92% of marketers in 2014 claimed that social media marketing was important for their business. A whopping 80% indicated that their social media marketing efforts increased traffic to their websites. Social Media Examiner, a top blog dedicated to social media marketing tips has estimated that 97% of marketers are currently participating in social media. The proof is in the pudding– social media marketing is a great resource for promoting your business, brand values, and products/services.
Below we have outlined five of the top benefits of social media marketing for small businesses, large companies, and public figures:
- Inform millions of people for free
- Get new customers
- Increase followers, engagement and website traffic
- Establish brand recognition and grow your reputation
- Increase brand loyalty