Who doesn’t like making money? If you raised your hand, please let us know your details, so we can ask you to transfer all of your remaining riches to us right away. Jokes apart, if you are looking to boost sales, have you considered tapping into social media? Social media is an excellent tool to facilitate boosting your company’s finances. Here are five ways it can help –
1. Customer Service
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Bad customer service leads to disgruntled customers. Good customer service leads to loyal customers and positive word of mouth. Repeat these two sentences to yourself until they sink in. Let’s get one thing straight – customers expect real-time responses from their service providers. When customers are not happy, they like to vent their grievances. Before, they would crib to near and dear ones. Now, they project their thoughts and angry rants on social platforms, which are louder than megaphones. So, use social media wisely to alleviate upset customers through handling complaints efficiently. Also, many customers Inbox or DM companies with sales-related inquiries before purchasing a product or service, so keep checking and responding regularly to avoid missing out on revenue.
2. Market Research
Developing a product and then waiting to see if it works is a traditional and ancient practice. Use current technology. Seriously – get with the program. You can understand your market by interacting with them in real time on social media platforms in an interactive manner, which makes market research quick and easy. And, you can modify and develop your product and service accordingly. This is pretty empowering, actually. Social media is a conversation, encourage your audience to speak, sit back and listen, and then speak.
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3. Brand Awareness & Promotion
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A study conducted by LinkedIn indicates that 63% of consumers were motivated to take action after learning about products and services on social media. This stat better grab your attention. Engaging social media users effectively can result in increasing brand awareness at a significantly lower cost compared to traditional media – the cost per customer acquisition is pretty lucrative.
4. Pertinent Advertising
Image Courtesy: giphy.com Social media provides control, flexibility and accuracy to get higher results within a set budget that is fully in your control at all times. Through ads on social media, you can track your actual views, click rate, website clicks, and so on and so forth. Monitoring this information and modifying your campaign accordingly will help you drive your services to the right market in the most streamlined manner possible.
5. Better Sales Opportunity
By providing more information about your services/products and offers and by also taking into account the reach social media has to offer, the chances of conversion are pretty amazing. The younger generation – millennials – are glued to social media (many don’t have a TV and don’t subscribe to magazines and newspapers!). Hence, you can convert them into customers sooner by reaching out to them with product/service and benefits-related information on their social media feeds.