7 Reasons why social media is important for business

1. Learn about your customers and connect with your audience

All successful businesses have grown to know their audiences very well. The benefit of social media is that, getting to know your audience is now easier then ever. With analytics like Facebook Insights in Hootsuite you can understand the major demographics and patterns of your customer behaviors. This not only allows you to better target your audience but it also helps you understand the specific needs of your customer base.

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While gaining insight on the demographics of your audience, social also helps you connect on an individual level.

2. Reach a new audience locally and globally

Those familiar with Twitter will know that it’s easy to use Twitter to connect with current customers or seek out a new audience. Tools like geo search in Hootsuite or searching for certain hashtags can help you find what people are tweeting about in your neighborhood or what people are tweeting about in general. For example, if you run a brewery and search for hashtags about local beer, you can see what people in your area are excited about. You could then use this as an opportunity to engage with them and let them know what beer you offer.

Organizations like San Francisco Ballet believe that, "by offering added value to our online audiences, social media enables us to engage and nurture our existing fans, while expanding into new audiences."

Radio Italia also uses social media to, "reach a wider range of people around the globe. It’s another way for us to connect with our audience."

3. Improve customer service

Because social media functions best in real-time, it gives you instant access to feedback from your customers. This insight is invaluable, as it can help everything from new product growth to customer retention. G adventures use social to up their customer service game.

4. Gain market share

On a less customer centric note, if you use social media properly, you can make it easier for potential customers to find you. The Manhattan Group stands by the idea that, "serious recruiting agencies with a strong social media presence are rapidly gaining market share. And those without, are missing out."

5. Create meaningful relationships that generate leads

Invest time in your social media relationships. The more you invest, the more valuable these relationships become. With G Adventures, social media is woven into every part of their business. As a result, someone who might not be a sales lead right away, can often convert months later.

6. An affordable way to increase brand awareness

The best part about social media is that if you have an Internet connection and a computer, anyone can participate. Meaning that in terms of monetary investment, you can do a lot with just a little bit of budget. For small businesses getting started in marketing, social media is an easy and affordable option.

7. Establish your business as an industry expert and expand your professional network

Along with building relationships with your customers, many businesses use social to connect with other people in their industry.

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